Radian Group Inc. $RDN Shares Purchased by NewEdge Wealth LLC

NewEdge Wealth LLC increased its holdings in shares of Radian Group Inc. (NYSE:RDN) by 49.0% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 40,689 shares of the insurance provider’s stock after buying an additional 13,383 shares during the quarter. NewEdge Wealth LLC’s holdings in Radian Group were worth $1,346,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently modified their holdings of the business. Mercer Global Advisors Inc. ADV boosted its holdings in Radian Group by 0.9% in the third quarter. Mercer Global Advisors Inc. ADV now owns 33,365 shares of the insurance provider’s stock valued at $1,208,000 after purchasing an additional 288 shares during the last quarter. Hantz Financial Services Inc. boosted its stake in shares of Radian Group by 26.9% during the 4th quarter. Hantz Financial Services Inc. now owns 1,553 shares of the insurance provider’s stock valued at $56,000 after buying an additional 329 shares during the last quarter. Smartleaf Asset Management LLC grew its position in shares of Radian Group by 14.6% during the second quarter. Smartleaf Asset Management LLC now owns 2,696 shares of the insurance provider’s stock worth $97,000 after buying an additional 344 shares in the last quarter. HighTower Advisors LLC grew its position in shares of Radian Group by 6.1% during the fourth quarter. HighTower Advisors LLC now owns 6,060 shares of the insurance provider’s stock worth $218,000 after buying an additional 349 shares in the last quarter. Finally, Jones Financial Companies Lllp increased its stake in shares of Radian Group by 14.8% in the first quarter. Jones Financial Companies Lllp now owns 2,764 shares of the insurance provider’s stock worth $91,000 after buying an additional 357 shares during the last quarter. 95.33% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have recently weighed in on RDN. Bank of America raised shares of Radian Group from an “underperform” rating to a “buy” rating and boosted their target price for the stock from $35.00 to $43.00 in a research report on Wednesday, April 29th. Weiss Ratings reissued a “buy (b)” rating on shares of Radian Group in a research note on Tuesday, June 16th. Zacks Research downgraded shares of Radian Group from a “strong-buy” rating to a “hold” rating in a research report on Monday, April 20th. Keefe, Bruyette & Woods increased their price objective on shares of Radian Group from $43.00 to $46.00 and gave the company an “outperform” rating in a report on Thursday, June 25th. Finally, Royal Bank Of Canada began coverage on shares of Radian Group in a research note on Friday, May 22nd. They set an “outperform” rating and a $47.00 price objective on the stock. Five equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, Radian Group currently has a consensus rating of “Moderate Buy” and an average price target of $43.17.

Insider Buying and Selling

In related news, Director Margaret Anne Leyden sold 2,070 shares of the company’s stock in a transaction that occurred on Friday, May 29th. The shares were sold at an average price of $34.59, for a total value of $71,601.30. Following the completion of the sale, the director owned 6,864 shares in the company, valued at approximately $237,425.76. This represents a 23.17% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Michael S. Weinbach acquired 120,487 shares of the firm’s stock in a transaction that occurred on Monday, June 1st. The stock was purchased at an average cost of $33.89 per share, with a total value of $4,083,304.43. Following the purchase, the chief executive officer directly owned 120,487 shares in the company, valued at approximately $4,083,304.43. This trade represents a ∞ increase in their position. The disclosure for this purchase is available in the SEC filing. Over the last 90 days, insiders sold 45,516 shares of company stock valued at $1,682,576. Company insiders own 2.03% of the company’s stock.

Radian Group Stock Performance

Shares of NYSE RDN opened at $38.63 on Monday. The stock’s fifty day simple moving average is $36.42 and its 200 day simple moving average is $34.95. The stock has a market capitalization of $5.14 billion, a price-to-earnings ratio of 9.51, a PEG ratio of 0.97 and a beta of 0.72. The company has a quick ratio of 0.58, a current ratio of 0.58 and a debt-to-equity ratio of 0.16. Radian Group Inc. has a 52-week low of $31.50 and a 52-week high of $41.05.

Radian Group (NYSE:RDN) last announced its earnings results on Thursday, May 7th. The insurance provider reported $1.27 EPS for the quarter, beating the consensus estimate of $1.17 by $0.10. Radian Group had a return on equity of 13.57% and a net margin of 40.50%.The business had revenue of $466.34 million during the quarter, compared to the consensus estimate of $377.83 million. During the same period in the prior year, the business posted $0.99 earnings per share. Radian Group’s revenue was up 46.6% compared to the same quarter last year. As a group, sell-side analysts forecast that Radian Group Inc. will post 5.17 earnings per share for the current fiscal year.

Radian Group Announces Dividend

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

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.