Norges Bank Buys New Stake in Radian Group Inc. $RDN

Norges Bank acquired a new position in Radian Group Inc. (NYSE:RDN) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 2,381,581 shares of the insurance provider’s stock, valued at approximately $85,785,000. Norges Bank owned about 1.76% of Radian Group at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Jones Financial Companies Lllp increased its stake in Radian Group by 14.8% during the first quarter. Jones Financial Companies Lllp now owns 2,764 shares of the insurance provider’s stock worth $91,000 after acquiring an additional 357 shares during the last quarter. AlphaQuest LLC grew its holdings in shares of Radian Group by 3.1% in the first quarter. AlphaQuest LLC now owns 15,904 shares of the insurance provider’s stock valued at $526,000 after purchasing an additional 476 shares in the last quarter. Nordea Investment Management AB raised its stake in shares of Radian Group by 0.3% in the second quarter. Nordea Investment Management AB now owns 199,681 shares of the insurance provider’s stock valued at $7,153,000 after acquiring an additional 533 shares in the last quarter. Harbor Capital Advisors Inc. boosted its stake in shares of Radian Group by 1.0% in the 2nd quarter. Harbor Capital Advisors Inc. now owns 58,313 shares of the insurance provider’s stock valued at $2,100,000 after buying an additional 554 shares during the period. Finally, Geneos Wealth Management Inc. increased its position in shares of Radian Group by 191.3% in the 1st quarter. Geneos Wealth Management Inc. now owns 871 shares of the insurance provider’s stock valued at $29,000 after purchasing an additional 572 shares during the last quarter. Institutional investors and hedge funds own 95.33% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the stock. Weiss Ratings restated a “buy (a-)” rating on shares of Radian Group in a report on Monday. Zacks Research upgraded Radian Group from a “hold” rating to a “strong-buy” rating in a research note on Monday, September 22nd. UBS Group lowered their price objective on Radian Group from $43.00 to $40.00 and set a “neutral” rating on the stock in a report on Wednesday, October 15th. Finally, Barclays upped their price objective on Radian Group from $35.00 to $37.00 and gave the stock a “cautious” rating in a report on Monday, October 6th. Two investment analysts have rated the stock with a Strong Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $38.00.

Radian Group Stock Down 2.1%

RDN stock opened at $34.68 on Friday. The company has a 50 day moving average price of $34.62 and a two-hundred day moving average price of $34.62. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.67 and a current ratio of 1.67. The stock has a market capitalization of $4.70 billion, a P/E ratio of 8.65 and a beta of 0.83. Radian Group Inc. has a one year low of $29.32 and a one year high of $38.84.

Radian Group (NYSE:RDN) last announced its quarterly earnings data on Wednesday, November 5th. The insurance provider reported $1.15 earnings per share for the quarter, topping the consensus estimate of $0.95 by $0.20. The business had revenue of $303.19 million for the quarter, compared to analyst estimates of $308.77 million. Radian Group had a net margin of 45.90% and a return on equity of 13.29%. The company’s revenue was down 3.3% on a year-over-year basis. During the same period in the prior year, the firm posted $1.03 EPS. As a group, sell-side analysts expect that Radian Group Inc. will post 3.79 EPS for the current year.

Radian Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 9th. Shareholders of record on Monday, November 24th will be given a $0.255 dividend. The ex-dividend date of this dividend is Monday, November 24th. This represents a $1.02 annualized dividend and a yield of 2.9%. Radian Group’s dividend payout ratio (DPR) is 25.44%.

Insider Activity

In related news, EVP Edward J. Hoffman sold 10,000 shares of the firm’s stock in a transaction dated Thursday, September 18th. The stock was sold at an average price of $37.00, for a total transaction of $370,000.00. Following the sale, the executive vice president directly owned 153,708 shares in the company, valued at approximately $5,687,196. This trade represents a 6.11% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Eric Ray sold 13,957 shares of Radian Group stock in a transaction that occurred on Tuesday, December 2nd. The shares were sold at an average price of $35.60, for a total transaction of $496,869.20. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 2.01% of the company’s stock.

Radian Group Profile

Radian Group Inc, together with its subsidiaries, engages in the mortgage and real estate services business in the United States. It operates through two segments, Mortgage Insurance and Homegenius segments. The Mortgage Insurance segment aggregates, manages, and distributes U.S. mortgage credit risk for mortgage lending institutions and mortgage credit investors, through private mortgage insurance on residential first-lien mortgage loans; and other credit risk management solutions, including contract underwriting.