Meritage Portfolio Management Trims Stock Position in Radian Group Inc. (NYSE:RDN)

Meritage Portfolio Management cut its stake in Radian Group Inc. (NYSE:RDN) by 0.4% in the 4th quarter, Holdings Channel reports. The firm owned 101,014 shares of the insurance provider’s stock after selling 393 shares during the period. Meritage Portfolio Management’s holdings in Radian Group were worth $2,884,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Assenagon Asset Management S.A. bought a new position in Radian Group in the fourth quarter worth about $16,368,000. Sumitomo Mitsui DS Asset Management Company Ltd purchased a new position in shares of Radian Group during the 4th quarter worth approximately $16,918,000. Mirae Asset Global Investments Co. Ltd. raised its position in shares of Radian Group by 42.8% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 173,084 shares of the insurance provider’s stock worth $4,942,000 after acquiring an additional 51,852 shares in the last quarter. Comerica Bank lifted its stake in shares of Radian Group by 5,573.5% in the 3rd quarter. Comerica Bank now owns 222,287 shares of the insurance provider’s stock valued at $5,582,000 after purchasing an additional 218,369 shares during the period. Finally, Tudor Investment Corp Et Al bought a new stake in shares of Radian Group during the third quarter valued at approximately $6,735,000. 95.33% of the stock is owned by hedge funds and other institutional investors.

Radian Group Stock Down 1.0 %

Shares of NYSE RDN traded down $0.32 on Thursday, reaching $30.31. 578,217 shares of the company’s stock traded hands, compared to its average volume of 1,291,153. The company has a quick ratio of 1.65, a current ratio of 1.65 and a debt-to-equity ratio of 0.35. The business’s 50 day simple moving average is $30.42 and its two-hundred day simple moving average is $28.35. Radian Group Inc. has a 12 month low of $22.93 and a 12 month high of $33.69. The company has a market cap of $4.59 billion, a price-to-earnings ratio of 7.99, a price-to-earnings-growth ratio of 1.87 and a beta of 1.02.

Radian Group (NYSE:RDN) last released its earnings results on Wednesday, February 7th. The insurance provider reported $0.96 EPS for the quarter, topping the consensus estimate of $0.86 by $0.10. Radian Group had a return on equity of 14.75% and a net margin of 48.51%. The business had revenue of $328.64 million for the quarter, compared to the consensus estimate of $319.04 million. During the same period in the previous year, the company posted $1.05 earnings per share. The company’s revenue for the quarter was up 4.4% compared to the same quarter last year. As a group, equities research analysts forecast that Radian Group Inc. will post 3.27 EPS for the current fiscal year.

Radian Group Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 12th. Shareholders of record on Monday, February 26th were paid a dividend of $0.245 per share. The ex-dividend date of this dividend was Friday, February 23rd. This represents a $0.98 annualized dividend and a yield of 3.23%. This is a boost from Radian Group’s previous quarterly dividend of $0.23. Radian Group’s dividend payout ratio is currently 25.93%.

Analyst Upgrades and Downgrades

Separately, Keefe, Bruyette & Woods reiterated a “market perform” rating and issued a $35.00 price objective (down previously from $36.00) on shares of Radian Group in a report on Thursday, April 4th. One research analyst has rated the stock with a sell rating and five have given a hold rating to the stock. Based on data from MarketBeat.com, Radian Group currently has an average rating of “Hold” and an average price target of $30.00.

Radian Group Company Profile

Radian Group Inc, together with its subsidiaries, engages in the mortgage and real estate services business in the United States. It operates through two segments, Mortgage Insurance and Homegenius segments. The Mortgage Insurance segment aggregates, manages, and distributes U.S. mortgage credit risk for mortgage lending institutions and mortgage credit investors, through private mortgage insurance on residential first-lien mortgage loans; and other credit risk management solutions, including contract underwriting.