Pacer Advisors Inc. grew its position in shares of Radian Group Inc. (NYSE:RDN) by 24.0% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 28,647 shares of the insurance provider’s stock after purchasing an additional 5,539 shares during the period. Pacer Advisors Inc.’s holdings in Radian Group were worth $468,000 at the end of the most recent reporting period.
Other hedge funds have also recently modified their holdings of the company. Bank of America Corp DE lifted its stake in Radian Group by 4.4% during the first quarter. Bank of America Corp DE now owns 1,337,584 shares of the insurance provider’s stock worth $24,023,000 after purchasing an additional 56,926 shares during the last quarter. SG Americas Securities LLC lifted its stake in Radian Group by 116.7% during the second quarter. SG Americas Securities LLC now owns 66,097 shares of the insurance provider’s stock worth $1,081,000 after purchasing an additional 35,595 shares during the last quarter. California Public Employees Retirement System increased its holdings in shares of Radian Group by 1.3% in the first quarter. California Public Employees Retirement System now owns 415,200 shares of the insurance provider’s stock worth $7,457,000 after buying an additional 5,500 shares during the period. FMR LLC increased its holdings in shares of Radian Group by 0.3% in the first quarter. FMR LLC now owns 19,336,037 shares of the insurance provider’s stock worth $347,275,000 after buying an additional 59,116 shares during the period. Finally, Nuveen Asset Management LLC increased its holdings in shares of Radian Group by 48.6% in the first quarter. Nuveen Asset Management LLC now owns 1,586,624 shares of the insurance provider’s stock worth $28,496,000 after buying an additional 518,648 shares during the period. 90.02% of the stock is owned by hedge funds and other institutional investors.
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Radian Group Inc. (RDN) opened at 17.87 on Friday. Radian Group Inc. has a one year low of $12.96 and a one year high of $19.87. The stock has a market cap of $3.85 billion, a P/E ratio of 20.52 and a beta of 1.58. The company’s 50-day moving average price is $17.19 and its 200-day moving average price is $17.33.
Radian Group (NYSE:RDN) last announced its quarterly earnings data on Tuesday, August 1st. The insurance provider reported $0.48 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.40 by $0.08. The business had revenue of $302.91 million during the quarter, compared to the consensus estimate of $299.07 million. Radian Group had a net margin of 16.26% and a return on equity of 12.81%. The firm’s quarterly revenue was up 4.9% compared to the same quarter last year. During the same quarter last year, the firm earned $0.38 earnings per share. Analysts forecast that Radian Group Inc. will post $1.72 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Friday, September 1st. Stockholders of record on Monday, August 21st were given a dividend of $0.0025 per share. This represents a $0.01 dividend on an annualized basis and a dividend yield of 0.06%. The ex-dividend date of this dividend was Thursday, August 17th. Radian Group’s dividend payout ratio (DPR) is presently 1.18%.
Radian Group declared that its Board of Directors has initiated a stock buyback plan on Wednesday, August 9th that allows the company to buyback $50.00 million in outstanding shares. This buyback authorization allows the insurance provider to purchase up to 1.3% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s leadership believes its stock is undervalued.
In related news, CEO Richard G. Thornberry bought 15,000 shares of Radian Group stock in a transaction dated Friday, August 18th. The shares were acquired at an average cost of $16.78 per share, with a total value of $251,700.00. Following the completion of the transaction, the chief executive officer now owns 15,000 shares in the company, valued at approximately $251,700. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Richard G. Thornberry bought 5,000 shares of Radian Group stock in a transaction dated Monday, August 21st. The shares were bought at an average cost of $16.54 per share, for a total transaction of $82,700.00. Following the completion of the transaction, the chief executive officer now owns 20,000 shares of the company’s stock, valued at approximately $330,800. The disclosure for this purchase can be found here. Company insiders own 1.83% of the company’s stock.
RDN has been the topic of several analyst reports. Zacks Investment Research downgraded Radian Group from a “hold” rating to a “sell” rating in a report on Tuesday, July 4th. BidaskClub downgraded Radian Group from a “hold” rating to a “sell” rating in a report on Saturday, June 24th. Keefe, Bruyette & Woods reiterated a “buy” rating and issued a $21.00 price objective on shares of Radian Group in a report on Tuesday, May 30th. ValuEngine upgraded Radian Group from a “buy” rating to a “strong-buy” rating in a report on Wednesday, June 7th. Finally, Barclays PLC reiterated an “overweight” rating and issued a $24.00 price objective (down previously from $25.00) on shares of Radian Group in a report on Wednesday, August 2nd. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating and seven have issued a buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $20.75.
About Radian Group
Radian Group Inc is an insurance holding company that provides mortgage insurance, and products and services to the real estate and mortgage finance industries. The Company operates in two segments: Mortgage Insurance and Services. The Mortgage Insurance segment provides credit-related insurance coverage, principally through private mortgage insurance to mortgage lending institutions.
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