Icon Advisers Inc. Co. Has $1.06 Million Holdings in Radian Group Inc (RDN)
Icon Advisers Inc. Co. reduced its position in shares of Radian Group Inc (NYSE:RDN) by 11.7% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 51,100 shares of the insurance provider’s stock after selling 6,800 shares during the quarter. Icon Advisers Inc. Co.’s holdings in Radian Group were worth $1,056,000 at the end of the most recent quarter.
A number of other large investors have also recently added to or reduced their stakes in the business. Canada Pension Plan Investment Board grew its stake in shares of Radian Group by 94.1% in the second quarter. Canada Pension Plan Investment Board now owns 5,056,400 shares of the insurance provider’s stock worth $82,015,000 after acquiring an additional 2,451,300 shares during the period. Segall Bryant & Hamill LLC bought a new stake in shares of Radian Group in the second quarter worth approximately $18,839,000. Capital Fund Management S.A. bought a new stake in shares of Radian Group in the second quarter worth approximately $10,201,000. BlackRock Inc. grew its stake in shares of Radian Group by 3.7% in the second quarter. BlackRock Inc. now owns 15,049,243 shares of the insurance provider’s stock worth $244,099,000 after acquiring an additional 534,225 shares during the period. Finally, Millennium Management LLC grew its stake in shares of Radian Group by 45.8% in the second quarter. Millennium Management LLC now owns 1,220,457 shares of the insurance provider’s stock worth $19,796,000 after acquiring an additional 383,357 shares during the period. Institutional investors and hedge funds own 91.54% of the company’s stock.
Shares of NYSE:RDN opened at $19.43 on Friday. The company has a current ratio of 1.48, a quick ratio of 1.48 and a debt-to-equity ratio of 0.32. Radian Group Inc has a 1-year low of $14.06 and a 1-year high of $23.49. The company has a market cap of $4.17 billion, a price-to-earnings ratio of 10.68, a PEG ratio of 1.50 and a beta of 1.45.
Radian Group declared that its Board of Directors has authorized a stock repurchase plan on Thursday, August 16th that permits the company to buyback $100.00 million in outstanding shares. This buyback authorization permits the insurance provider to reacquire up to 2.4% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s board of directors believes its shares are undervalued.
RDN has been the subject of several recent research reports. Zacks Investment Research upgraded shares of Radian Group from a “hold” rating to a “buy” rating and set a $19.00 target price for the company in a research report on Tuesday, July 17th. B. Riley boosted their target price on shares of Radian Group from $20.00 to $24.00 and gave the company a “neutral” rating in a research report on Tuesday, August 7th. ValuEngine lowered shares of Radian Group from a “hold” rating to a “sell” rating in a research report on Friday, November 2nd. Compass Point set a $26.00 target price on shares of Radian Group and gave the company a “buy” rating in a research report on Thursday, November 1st. Finally, Bank of America boosted their target price on shares of Radian Group from $13.00 to $23.00 and gave the company a “buy” rating in a research report on Monday, August 13th. Five equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $23.36.
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Radian Group Profile
Radian Group Inc, through its subsidiaries, provides mortgage and real estate products and services in the United States. It operates through two segments, Mortgage Insurance and Services. The Mortgage Insurance segment offers credit-related insurance coverage, primarily through private mortgage insurance, as well as other credit risk management solutions to mortgage lending institutions; and primary mortgage insurance coverage on residential first-lien mortgage loans.
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