Summit Global Investments Purchases Shares of 33,497 Radian Group Inc. $RDN

Summit Global Investments purchased a new position in Radian Group Inc. (NYSE:RDN) in the 3rd quarter, HoldingsChannel.com reports. The institutional investor purchased 33,497 shares of the insurance provider’s stock, valued at approximately $1,213,000.

Several other hedge funds have also recently modified their holdings of the stock. Smartleaf Asset Management LLC raised its position in shares of Radian Group by 14.6% in the 2nd quarter. Smartleaf Asset Management LLC now owns 2,696 shares of the insurance provider’s stock valued at $97,000 after purchasing an additional 344 shares during the last quarter. Jones Financial Companies Lllp increased its stake in Radian Group by 14.8% during the 1st quarter. Jones Financial Companies Lllp now owns 2,764 shares of the insurance provider’s stock valued at $91,000 after purchasing an additional 357 shares in the last quarter. Amalgamated Bank raised its holdings in shares of Radian Group by 1.0% in the third quarter. Amalgamated Bank now owns 39,233 shares of the insurance provider’s stock worth $1,421,000 after buying an additional 391 shares during the last quarter. Nisa Investment Advisors LLC lifted its stake in shares of Radian Group by 8.2% during the third quarter. Nisa Investment Advisors LLC now owns 5,740 shares of the insurance provider’s stock worth $208,000 after buying an additional 433 shares during the period. Finally, GAMMA Investing LLC grew its holdings in shares of Radian Group by 6.0% during the third quarter. GAMMA Investing LLC now owns 9,157 shares of the insurance provider’s stock valued at $332,000 after buying an additional 522 shares during the last quarter. Institutional investors and hedge funds own 95.33% of the company’s stock.

Radian Group Trading Down 0.8%

Shares of NYSE:RDN opened at $32.90 on Friday. The company has a current ratio of 1.67, a quick ratio of 1.67 and a debt-to-equity ratio of 0.24. Radian Group Inc. has a 12-month low of $29.32 and a 12-month high of $38.84. The business has a 50 day moving average of $35.02 and a two-hundred day moving average of $34.71. The company has a market capitalization of $4.46 billion, a PE ratio of 8.20 and a beta of 0.82.

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

Radian Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 9th. Shareholders of record on Monday, November 24th were given a $0.255 dividend. The ex-dividend date was Monday, November 24th. This represents a $1.02 dividend on an annualized basis and a dividend yield of 3.1%. Radian Group’s dividend payout ratio is 25.44%.

Insider Activity

In other news, EVP Eric Ray sold 13,957 shares of the firm’s stock in a transaction dated Tuesday, December 2nd. The stock was sold at an average price of $35.60, for a total transaction of $496,869.20. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 2.01% of the stock is currently owned by insiders.

Analyst Ratings Changes

RDN has been the subject of a number of research analyst reports. UBS Group lowered their price target on Radian Group from $43.00 to $40.00 and set a “neutral” rating for the company in a research report on Wednesday, October 15th. Barclays lifted their target price on Radian Group from $35.00 to $37.00 and gave the stock a “cautious” rating in a report on Monday, October 6th. Weiss Ratings downgraded shares of Radian Group from a “buy (a-)” rating to a “buy (b+)” rating in a report on Tuesday, January 13th. Roth Mkm reissued a “buy” rating and set a $45.00 price target on shares of Radian Group in a research report on Friday, January 2nd. Finally, Keefe, Bruyette & Woods upped their price objective on shares of Radian Group from $40.00 to $41.00 and gave the company a “market perform” rating in a report on Thursday, December 18th. Two investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $40.00.

About Radian Group

Radian Group Inc (NYSE:RDN) is a leading provider of private mortgage insurance and related risk management solutions in the United States. Through its primary subsidiary, Radian Guaranty Inc, the company underwrites borrower-paid and lender-paid mortgage insurance that protects lenders and investors from potential losses arising from borrower defaults. Radian’s core business focuses on supporting residential mortgage originations and servicing by offering capital-efficient credit protection and credit risk transfer strategies.

Beyond mortgage insurance, Radian offers an array of real estate transaction services under its Radian Title division.