Bowling Portfolio Management LLC trimmed its position in Radian Group Inc (NYSE:RDN) by 8.7% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 130,248 shares of the insurance provider’s stock after selling 12,417 shares during the quarter. Bowling Portfolio Management LLC owned approximately 0.06% of Radian Group worth $2,692,000 as of its most recent SEC filing.
A number of other hedge funds have also recently made changes to their positions in RDN. Canada Pension Plan Investment Board lifted its holdings in shares of Radian Group by 94.1% during the 2nd quarter. Canada Pension Plan Investment Board now owns 5,056,400 shares of the insurance provider’s stock valued at $82,015,000 after purchasing an additional 2,451,300 shares in the last quarter. Segall Bryant & Hamill LLC bought a new position in shares of Radian Group during the 2nd quarter valued at about $18,839,000. Capital Fund Management S.A. bought a new position in shares of Radian Group during the 2nd quarter valued at about $10,201,000. BlackRock Inc. raised its position in Radian Group by 3.7% in the 2nd quarter. BlackRock Inc. now owns 15,049,243 shares of the insurance provider’s stock valued at $244,099,000 after buying an additional 534,225 shares during the last quarter. Finally, Millennium Management LLC raised its position in Radian Group by 45.8% in the 2nd quarter. Millennium Management LLC now owns 1,220,457 shares of the insurance provider’s stock valued at $19,796,000 after buying an additional 383,357 shares during the last quarter. Hedge funds and other institutional investors own 91.54% of the company’s stock.
RDN has been the topic of a number of recent research reports. Zacks Investment Research raised Radian Group from a “hold” rating to a “buy” rating and set a $19.00 target price on the stock in a research report on Tuesday, July 17th. B. Riley lifted their target price on Radian Group from $20.00 to $24.00 and gave the company a “neutral” rating in a research report on Tuesday, August 7th. ValuEngine lowered Radian Group from a “hold” rating to a “sell” rating in a research report on Friday, November 2nd. Compass Point set a $26.00 price target on Radian Group and gave the stock a “buy” rating in a research report on Thursday, November 1st. Finally, Bank of America boosted their price target on Radian Group from $13.00 to $23.00 and gave the stock a “buy” rating in a research report on Monday, August 13th. Five research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $23.36.
Radian Group (NYSE:RDN) last released its earnings results on Wednesday, October 31st. The insurance provider reported $0.71 earnings per share for the quarter, beating analysts’ consensus estimates of $0.63 by $0.08. The firm had revenue of $330.70 million during the quarter, compared to the consensus estimate of $334.59 million. Radian Group had a return on equity of 17.71% and a net margin of 37.56%. The company’s revenue was up 6.0% compared to the same quarter last year. During the same period in the prior year, the company posted $0.46 EPS. Equities analysts anticipate that Radian Group Inc will post 2.61 earnings per share for the current fiscal year.
Radian Group announced that its board has authorized a share repurchase plan on Thursday, August 16th that authorizes the company to buyback $100.00 million in shares. This buyback authorization authorizes the insurance provider to repurchase up to 2.4% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s board believes its stock is undervalued.
About Radian Group
Radian Group Inc, through its subsidiaries, provides mortgage and real estate products and services in the United States. It operates through two segments, Mortgage Insurance and Services. The Mortgage Insurance segment offers credit-related insurance coverage, primarily through private mortgage insurance, as well as other credit risk management solutions to mortgage lending institutions; and primary mortgage insurance coverage on residential first-lien mortgage loans.
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