Radian Group Inc. $RDN Shares Purchased by Fifth Third Bancorp

Fifth Third Bancorp grew its holdings in Radian Group Inc. (NYSE:RDN) by 17,199.1% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 156,903 shares of the insurance provider’s stock after acquiring an additional 155,996 shares during the quarter. Fifth Third Bancorp’s holdings in Radian Group were worth $5,190,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of RDN. Norges Bank acquired a new stake in shares of Radian Group during the fourth quarter worth about $77,364,000. Balyasny Asset Management L.P. lifted its position in Radian Group by 151.7% during the 3rd quarter. Balyasny Asset Management L.P. now owns 1,873,049 shares of the insurance provider’s stock worth $67,842,000 after acquiring an additional 1,128,852 shares during the period. Donald Smith & CO. Inc. grew its stake in shares of Radian Group by 43.7% in the 4th quarter. Donald Smith & CO. Inc. now owns 3,012,255 shares of the insurance provider’s stock valued at $108,411,000 after purchasing an additional 916,003 shares during the last quarter. Millennium Management LLC increased its holdings in shares of Radian Group by 59.7% in the third quarter. Millennium Management LLC now owns 1,007,172 shares of the insurance provider’s stock valued at $36,480,000 after purchasing an additional 376,533 shares during the period. Finally, Assenagon Asset Management S.A. increased its holdings in shares of Radian Group by 125.3% in the fourth quarter. Assenagon Asset Management S.A. now owns 550,634 shares of the insurance provider’s stock valued at $19,817,000 after purchasing an additional 306,282 shares during the period. 95.33% of the stock is owned by institutional investors and hedge funds.

Radian Group Price Performance

Radian Group stock opened at $39.37 on Friday. The company has a quick ratio of 0.58, a current ratio of 0.58 and a debt-to-equity ratio of 0.16. The firm has a market capitalization of $5.23 billion, a PE ratio of 9.70, a P/E/G ratio of 0.98 and a beta of 0.72. The firm’s 50-day simple moving average is $36.28 and its 200 day simple moving average is $34.88. Radian Group Inc. has a 52 week low of $31.50 and a 52 week high of $41.05.

Radian Group (NYSE:RDN) last released its quarterly earnings results on Thursday, May 7th. The insurance provider reported $1.27 earnings per share for the quarter, topping analysts’ consensus estimates of $1.17 by $0.10. The company had revenue of $466.34 million during the quarter, compared to analysts’ expectations of $377.83 million. Radian Group had a return on equity of 13.57% and a net margin of 40.50%.The business’s revenue for the quarter was up 46.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.99 earnings per share. On average, equities research analysts predict that Radian Group Inc. will post 5.17 EPS for the current fiscal year.

Radian Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 17th. Stockholders of record on Tuesday, June 2nd were given a $0.255 dividend. This represents a $1.02 dividend on an annualized basis and a dividend yield of 2.6%. The ex-dividend date of this dividend was Tuesday, June 2nd. Radian Group’s payout ratio is currently 25.12%.

Insiders Place Their Bets

In related news, EVP Edward J. Hoffman sold 15,000 shares of the company’s stock in a transaction on Friday, May 8th. The stock was sold at an average price of $38.00, for a total value of $570,000.00. Following the completion of the transaction, the executive vice president directly owned 93,708 shares in the company, valued at approximately $3,560,904. This represents a 13.80% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Chairman Howard Bernard Culang sold 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $36.20, for a total transaction of $181,000.00. Following the completion of the sale, the chairman directly owned 11,662 shares in the company, valued at $422,164.40. This represents a 30.01% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 60,516 shares of company stock valued at $2,222,576. 2.03% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

RDN has been the subject of several recent research reports. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Radian Group in a report on Tuesday, June 16th. Barclays boosted their price target on shares of Radian Group from $37.00 to $39.00 and gave the stock an “equal weight” rating in a research note on Monday, May 11th. Wall Street Zen downgraded shares of Radian Group from a “buy” rating to a “hold” rating in a research report on Sunday, July 12th. Keefe, Bruyette & Woods boosted their target price on Radian Group from $43.00 to $46.00 and gave the stock an “outperform” rating in a research report on Thursday, June 25th. Finally, Royal Bank Of Canada initiated coverage on Radian Group in a report on Friday, May 22nd. They issued an “outperform” rating and a $47.00 price target for the company. Five analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $43.17.

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.