Radian Group Inc. $RDN Shares Sold by State of Alaska Department of Revenue

State of Alaska Department of Revenue trimmed its holdings in Radian Group Inc. (NYSE:RDN) by 44.7% in the 3rd quarter, according to its most recent filing with the SEC. The institutional investor owned 27,351 shares of the insurance provider’s stock after selling 22,120 shares during the quarter. State of Alaska Department of Revenue’s holdings in Radian Group were worth $836,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the stock. NorthCrest Asset Manangement LLC lifted its holdings in Radian Group by 10.6% in the third quarter. NorthCrest Asset Manangement LLC now owns 14,065 shares of the insurance provider’s stock valued at $431,000 after acquiring an additional 1,344 shares during the period. GAMMA Investing LLC lifted its holdings in Radian Group by 4.1% during the third quarter. GAMMA Investing LLC now owns 11,613 shares of the insurance provider’s stock valued at $355,000 after purchasing an additional 462 shares in the last quarter. Sequoia Financial Advisors LLC boosted its holdings in Radian Group by 11.0% in the 2nd quarter. Sequoia Financial Advisors LLC now owns 7,540 shares of the insurance provider’s stock worth $284,000 after buying an additional 747 shares during the period. Tidal Investments LLC boosted its holdings in Radian Group by 374.1% in the 2nd quarter. Tidal Investments LLC now owns 33,498 shares of the insurance provider’s stock worth $1,262,000 after buying an additional 26,432 shares during the period. Finally, Integrated Wealth Concepts LLC purchased a new stake in Radian Group in the 2nd quarter worth $44,000. 95.33% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts have recently commented on RDN shares. Wall Street Zen downgraded Radian Group from a “buy” rating to a “hold” rating in a research report on Saturday, October 10th. Barclays lifted their target price on Radian Group from $35.00 to $36.00 and gave the company an “equal weight” rating in a research note on Monday, October 5th. Keefe, Bruyette & Woods lowered their price target on Radian Group from $46.00 to $44.00 and set an “outperform” rating on the stock in a report on Tuesday, August 11th. BTIG Research initiated coverage on Radian Group in a research note on Tuesday, September 22nd. They issued a “buy” rating and a $48.00 price target for the company. Finally, Weiss Ratings lowered shares of Radian Group from a “buy (b+)” rating to a “buy (b)” rating in a report on Tuesday, October 13th. Six investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, Radian Group presently has an average rating of “Moderate Buy” and an average target price of $43.14.

Insider Activity at Radian Group

In related news, EVP Meghan Bartholomew sold 7,812 shares of Radian Group stock in a transaction dated Monday, September 14th. The stock was sold at an average price of $35.94, for a total value of $280,763.28. Following the completion of the transaction, the executive vice president owned 39,203 shares in the company, valued at approximately $1,408,955.82. This trade represents a 16.62% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 2.03% of the company’s stock.

Radian Group Stock Performance

Shares of NYSE RDN opened at $33.95 on Thursday. The company has a market cap of $4.49 billion, a P/E ratio of 7.35, a P/E/G ratio of 0.86 and a beta of 0.71. Radian Group Inc. has a 52-week low of $30.53 and a 52-week high of $41.05. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.60 and a current ratio of 0.60. The firm’s fifty day moving average is $35.02 and its two-hundred day moving average is $35.93.

Radian Group (NYSE:RDN) last released its quarterly earnings data on Thursday, August 6th. The insurance provider reported $1.14 EPS for the quarter, missing the consensus estimate of $1.34 by ($0.20). The company had revenue of $574.96 million for the quarter, compared to the consensus estimate of $556.55 million. Radian Group had a net margin of 32.60% and a return on equity of 13.65%. The firm’s revenue for the quarter was up 92.3% on a year-over-year basis. During the same period last year, the company earned $1.01 EPS. As a group, analysts anticipate that Radian Group Inc. will post 4.85 EPS for the current fiscal year.

Radian Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 9th. Investors of record on Monday, August 24th were paid a dividend of $0.2550 per share. The ex-dividend date of this dividend was Monday, August 24th. This represents a $1.02 dividend on an annualized basis and a yield of 3.0%. Radian Group’s dividend payout ratio is presently 26.22%.

About Radian Group

Radian Group Inc (NYSE:RDN) is a financial services company that provides mortgage insurance and related services to the residential real estate industry. Through its mortgage insurance subsidiaries, including Radian Guaranty Inc, the company helps lenders manage credit risk on residential mortgages, particularly loans made to borrowers with smaller down payments. Its insurance can also help borrowers obtain home financing without contributing a traditional 20% down payment.

Radian’s mortgage insurance business serves mortgage lenders, banks, credit unions and other housing finance participants primarily in the United States.