Royal Bank of Canada Acquires 34,396 Shares of Radian Group Inc. $RDN

Royal Bank of Canada raised its holdings in Radian Group Inc. (NYSE:RDN) by 5.9% in the 1st quarter, HoldingsChannel reports. The fund owned 622,054 shares of the insurance provider’s stock after acquiring an additional 34,396 shares during the period. Royal Bank of Canada’s holdings in Radian Group were worth $20,578,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of RDN. Empowered Funds LLC acquired a new position in shares of Radian Group during the first quarter worth $424,000. SummitTX Capital L.P. increased its stake in shares of Radian Group by 356.4% in the first quarter. SummitTX Capital L.P. now owns 27,932 shares of the insurance provider’s stock valued at $924,000 after buying an additional 21,812 shares during the period. Lazard Asset Management LLC raised its position in shares of Radian Group by 5.1% during the first quarter. Lazard Asset Management LLC now owns 20,775 shares of the insurance provider’s stock worth $687,000 after acquiring an additional 1,015 shares during the last quarter. Weiss Asset Management LP acquired a new position in shares of Radian Group in the first quarter worth approximately $2,708,000. Finally, Healthcare of Ontario Pension Plan Trust Fund lifted its stake in shares of Radian Group by 10.5% in the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 420,378 shares of the insurance provider’s stock worth $13,906,000 after acquiring an additional 40,061 shares during the period. Institutional investors own 95.33% of the company’s stock.

Analyst Ratings Changes

A number of analysts have weighed in on the stock. Zacks Research downgraded shares of Radian Group from a “strong-buy” rating to a “hold” rating in a research report on Monday, April 20th. Royal Bank Of Canada assumed coverage on shares of Radian Group in a research note on Friday, May 22nd. They issued an “outperform” rating and a $47.00 price objective on the stock. Wall Street Zen raised shares of Radian Group from a “hold” rating to a “buy” rating in a research note on Saturday, August 1st. Keefe, Bruyette & Woods boosted their target price on shares of Radian Group from $43.00 to $46.00 and gave the company an “outperform” rating in a report on Thursday, June 25th. Finally, Bank of America upgraded Radian Group from an “underperform” rating to a “buy” rating and increased their price target for the stock from $35.00 to $43.00 in a report on Wednesday, April 29th. Five investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $43.17.

Insider Activity

In other news, Director Noel Joseph Spiegel sold 4,834 shares of the business’s stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $36.19, for a total transaction of $174,942.46. Following the completion of the sale, the director directly owned 20,008 shares of the company’s stock, valued at $724,089.52. The trade was a 19.46% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Edward J. Hoffman sold 15,000 shares of the business’s stock in a transaction dated Friday, May 8th. The stock was sold at an average price of $38.00, for a total transaction of $570,000.00. Following the sale, the executive vice president directly owned 93,708 shares of the company’s stock, valued at approximately $3,560,904. The trade was a 13.80% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 30,516 shares of company stock valued at $1,127,576. 2.03% of the stock is currently owned by insiders.

Radian Group Trading Down 1.3%

Shares of Radian Group stock opened at $39.13 on Thursday. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.58 and a current ratio of 0.58. Radian Group Inc. has a 52 week low of $31.50 and a 52 week high of $41.05. The stock has a 50 day moving average price of $36.82 and a two-hundred day moving average price of $35.23. The stock has a market capitalization of $5.20 billion, a PE ratio of 9.64, a price-to-earnings-growth ratio of 1.00 and a beta of 0.72.

Radian Group (NYSE:RDN) last issued its earnings results on Wednesday, August 5th. The insurance provider reported $1.14 earnings per share for the quarter, missing analysts’ consensus estimates of $1.34 by ($0.20). Radian Group had a return on equity of 13.57% and a net margin of 40.50%.The firm had revenue of $574.96 million for the quarter, compared to analyst estimates of $556.55 million. During the same period in the previous year, the company earned $1.01 earnings per share. Radian Group’s revenue for the quarter was up 92.3% compared to the same quarter last year. As a group, equities analysts anticipate that Radian Group Inc. will post 5.17 earnings per share for the current fiscal year.

Radian Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 17th. Shareholders of record on Tuesday, June 2nd were issued a dividend of $0.255 per share. The ex-dividend date was Tuesday, June 2nd. This represents a $1.02 annualized dividend and a yield of 2.6%. Radian Group’s dividend payout ratio is presently 25.12%.

Radian Group Profile

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.