The Manufacturers Life Insurance Company Makes New Investment in Radian Group Inc. $RDN

The Manufacturers Life Insurance Company bought a new position in Radian Group Inc. (NYSE:RDN) in the 2nd quarter, according to its most recent disclosure with the SEC. The firm bought 70,216 shares of the insurance provider’s stock, valued at approximately $2,645,000.

Other large investors have also recently modified their holdings of the company. BlackRock Inc. bought a new position in Radian Group in the second quarter worth about $728,072,000. Donald Smith & CO. Inc. purchased a new position in shares of Radian Group in the 2nd quarter valued at approximately $163,104,000. Norges Bank bought a new stake in shares of Radian Group during the fourth quarter valued at approximately $77,364,000. Bruni J V & Co. Co. bought a new stake in shares of Radian Group during the second quarter valued at approximately $59,355,376. Finally, Bank of New York Mellon Corp purchased a new stake in Radian Group in the second quarter worth $42,769,000. Institutional investors own 95.33% of the company’s stock.

Radian Group Stock Up 1.9%

Shares of NYSE:RDN opened at $36.49 on Thursday. The stock has a fifty day simple moving average of $37.65 and a two-hundred day simple moving average of $35.70. The stock has a market capitalization of $4.83 billion, a price-to-earnings ratio of 9.38, a PEG ratio of 0.87 and a beta of 0.70. Radian Group Inc. has a 12-month low of $31.50 and a 12-month high of $41.05. The company has a current ratio of 0.60, a quick ratio of 0.60 and a debt-to-equity ratio of 0.14.

Radian Group (NYSE:RDN) last released its earnings results on Thursday, August 6th. The insurance provider reported $1.14 EPS for the quarter, missing analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $556.55 million. During the same period in the prior year, the company posted $1.01 earnings per share. The company’s revenue was up 92.3% on a year-over-year basis. On average, research analysts anticipate that Radian Group Inc. will post 4.86 earnings per share for the current fiscal year.

Radian Group Dividend Announcement

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

Analyst Upgrades and Downgrades

RDN has been the subject of a number of research reports. Keefe, Bruyette & Woods decreased their price objective on Radian Group from $46.00 to $44.00 and set an “outperform” rating for the company 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 on the stock in a report on Monday, August 10th. 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 target price on the stock. Wall Street Zen cut shares of Radian Group from a “buy” rating to a “hold” rating in a research report on Sunday, August 9th. Finally, Weiss Ratings raised shares of Radian Group from a “buy (b)” rating to a “buy (b+)” rating in a research note on Tuesday, August 11th. Five analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, Radian Group has a consensus rating of “Moderate Buy” and a consensus price target of $42.17.

About Radian Group

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.