Prana Capital Management LP Invests $1.98 Million in Radian Group Inc. $RDN

Prana Capital Management LP purchased a new stake in shares of Radian Group Inc. (NYSE:RDN) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 54,632 shares of the insurance provider’s stock, valued at approximately $1,979,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Northwestern Mutual Wealth Management Co. boosted its position in Radian Group by 178.9% in the 3rd quarter. Northwestern Mutual Wealth Management Co. now owns 742 shares of the insurance provider’s stock valued at $27,000 after buying an additional 476 shares during the last quarter. Bessemer Group Inc. raised its position in shares of Radian Group by 66.7% during the third quarter. Bessemer Group Inc. now owns 795 shares of the insurance provider’s stock worth $29,000 after acquiring an additional 318 shares during the last quarter. Financial Consulate Inc. bought a new stake in shares of Radian Group during the third quarter worth $29,000. Geneos Wealth Management Inc. lifted its stake in shares of Radian Group by 191.3% during the first quarter. Geneos Wealth Management Inc. now owns 871 shares of the insurance provider’s stock valued at $29,000 after acquiring an additional 572 shares during the period. Finally, Salomon & Ludwin LLC bought a new position in Radian Group in the third quarter valued at about $33,000. Institutional investors and hedge funds own 95.33% of the company’s stock.

Radian Group Trading Up 1.0%

NYSE:RDN opened at $33.09 on Wednesday. Radian Group Inc. has a 1-year low of $29.32 and a 1-year high of $38.84. The business’s 50-day moving average price is $33.55 and its two-hundred day moving average price is $34.59. The company has a current ratio of 3.40, a quick ratio of 3.40 and a debt-to-equity ratio of 0.23. The firm has a market capitalization of $4.51 billion, a price-to-earnings ratio of 7.97, a PEG ratio of 1.77 and a beta of 0.79.

Radian Group (NYSE:RDN) last posted its earnings results on Wednesday, February 18th. The insurance provider reported $1.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.11 by $0.05. The company had revenue of $300.51 million during the quarter, compared to analyst estimates of $300.45 million. Radian Group had a return on equity of 13.07% and a net margin of 46.99%.The company’s revenue for the quarter was up 2.7% compared to the same quarter last year. During the same period in the previous year, the company earned $1.09 EPS. On average, equities analysts expect that Radian Group Inc. will post 3.79 earnings per share for the current year.

Radian Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 10th. Investors of record on Monday, February 23rd were issued a dividend of $0.255 per share. The ex-dividend date was Monday, February 23rd. This represents a $1.02 dividend on an annualized basis and a yield of 3.1%. Radian Group’s payout ratio is currently 24.58%.

Wall Street Analyst Weigh In

A number of analysts recently commented on RDN shares. UBS Group lowered their price objective on Radian Group from $41.00 to $39.00 and set a “neutral” rating for the company in a research report on Thursday, March 12th. Zacks Research raised shares of Radian Group from a “hold” rating to a “strong-buy” rating in a research note on Friday, February 20th. Keefe, Bruyette & Woods upgraded shares of Radian Group from a “market perform” rating to an “outperform” rating and lifted their price target for the stock from $41.00 to $42.00 in a research report on Wednesday, February 11th. Barclays set a $40.00 price target on shares of Radian Group in a research note on Monday, February 23rd. Finally, Roth Mkm restated a “buy” rating and issued a $45.00 price objective on shares of Radian Group in a report on Friday, January 2nd. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $40.60.

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.