Man Group plc Buys New Stake in Radian Group Inc. $RDN

Man Group plc purchased a new position in Radian Group Inc. (NYSE:RDN) in the 2nd quarter, Holdings Channel.com reports. The firm purchased 420,346 shares of the insurance provider’s stock, valued at approximately $15,834,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in RDN. BlackRock Inc. acquired a new stake in Radian Group during the second quarter valued at approximately $728,072,000. Donald Smith & CO. Inc. acquired a new position in shares of Radian Group in the 2nd quarter worth approximately $163,104,000. Norges Bank bought a new position in shares of Radian Group during the 4th quarter worth approximately $77,364,000. Bruni J V & Co. Co. bought a new position in shares of Radian Group during the 2nd quarter worth approximately $59,355,376,000. Finally, Bank of New York Mellon Corp acquired a new stake in Radian Group in the 2nd quarter valued at $42,769,000. Institutional investors own 95.33% of the company’s stock.

Analyst Ratings Changes

Several research firms have issued reports on RDN. Wall Street Zen lowered Radian Group from a “buy” rating to a “hold” rating in a research note on Sunday, August 9th. Weiss Ratings upgraded shares of Radian Group from a “buy (b)” rating to a “buy (b+)” rating in a research note on Tuesday, August 11th. Keefe, Bruyette & Woods lowered their target price on shares of Radian Group from $46.00 to $44.00 and set an “outperform” rating on the stock in a report on Tuesday, August 11th. Barclays dropped their target price on shares of Radian Group from $39.00 to $35.00 and set an “equal weight” rating for the company in a research report on Monday, August 10th. Finally, Royal Bank Of Canada started coverage on shares of Radian Group in a research report on Friday, May 22nd. They issued an “outperform” rating and a $47.00 price target on the stock. Five research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $42.17.

Insider Activity at Radian Group

In other news, CEO Michael S. Weinbach acquired 49,513 shares of Radian Group stock in a transaction on Tuesday, June 2nd. The shares were purchased at an average price of $34.04 per share, with a total value of $1,685,422.52. Following the acquisition, the chief executive officer owned 170,000 shares in the company, valued at $5,786,800. This represents a 41.09% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 2.03% of the stock is owned by company insiders.

Radian Group Stock Performance

Shares of NYSE:RDN opened at $36.51 on Friday. The business has a fifty day moving average of $37.60 and a 200-day moving average of $35.62. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.60 and a current ratio of 0.60. Radian Group Inc. has a twelve month low of $31.50 and a twelve month high of $41.05. The firm has a market cap of $4.83 billion, a PE ratio of 9.39, a price-to-earnings-growth ratio of 0.89 and a beta of 0.72.

Radian Group (NYSE:RDN) last issued its quarterly earnings results on Thursday, August 6th. The insurance provider reported $1.14 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.34 by ($0.20). Radian Group had a return on equity of 13.65% and a net margin of 32.60%.The company had revenue of $574.96 million for the quarter, compared to analyst estimates of $556.55 million. During the same quarter last year, the company earned $1.01 EPS. The firm’s quarterly revenue was up 92.3% on a year-over-year basis. On average, equities research analysts predict that Radian Group Inc. will post 4.86 EPS for the current fiscal year.

Radian Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 9th. Stockholders of record on Monday, August 24th will be paid a dividend of $0.255 per share. This represents a $1.02 annualized dividend and a dividend yield of 2.8%. The ex-dividend date of this dividend is Monday, August 24th. Radian Group’s dividend payout ratio is 26.22%.

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.