Strs Ohio Grows Holdings in Radian Group Inc (RDN)
Strs Ohio grew its position in Radian Group Inc (NYSE:RDN) by 16.3% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 27,800 shares of the insurance provider’s stock after acquiring an additional 3,900 shares during the quarter. Strs Ohio’s holdings in Radian Group were worth $574,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other large investors have also recently added to or reduced their stakes in RDN. Moneta Group Investment Advisors LLC increased its position in shares of Radian Group by 102.0% during the 2nd quarter. Moneta Group Investment Advisors LLC now owns 8,615 shares of the insurance provider’s stock valued at $140,000 after purchasing an additional 4,350 shares during the last quarter. NumerixS Investment Technologies Inc bought a new position in shares of Radian Group during the 2nd quarter valued at approximately $151,000. Quantum Capital Management bought a new position in shares of Radian Group during the 2nd quarter valued at approximately $179,000. State of Alaska Department of Revenue bought a new position in shares of Radian Group during the 3rd quarter valued at approximately $267,000. Finally, Cornerstone Wealth Management LLC bought a new position in shares of Radian Group during the 2nd quarter valued at approximately $874,000. 91.54% of the stock is currently owned by institutional investors and hedge funds.
RDN opened at $19.43 on Friday. Radian Group Inc has a 52-week low of $14.06 and a 52-week high of $23.49. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.48 and a quick ratio of 1.48. The firm has a market cap of $4.17 billion, a P/E ratio of 10.68, a price-to-earnings-growth ratio of 1.50 and a beta of 1.45.
Radian Group declared that its board has initiated a share buyback plan on Thursday, August 16th that allows the company to buyback $100.00 million in shares. This buyback authorization allows the insurance provider to buy up to 2.4% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s leadership believes its shares are undervalued.
Several research firms have recently weighed in on RDN. ValuEngine raised Radian Group from a “sell” rating to a “hold” rating in a research report on Thursday. Compass Point set a $26.00 target price on Radian Group and gave the company a “buy” rating in a research report on Thursday, November 1st. Bank of America boosted their target price on Radian Group from $13.00 to $23.00 and gave the company a “buy” rating in a research report on Monday, August 13th. B. Riley boosted their price objective on Radian Group from $20.00 to $24.00 and gave the company a “neutral” rating in a report on Tuesday, August 7th. Finally, TheStreet upgraded Radian Group from a “c+” rating to a “b-” rating in a report on Tuesday, July 31st. Five research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Radian Group has a consensus rating of “Buy” and a consensus price target of $23.36.
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About Radian Group
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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