Schwab Charles Investment Management Inc. lowered its stake in Radian Group Inc. (NYSE:RDN) by 1.1% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 963,342 shares of the insurance provider’s stock after selling 10,294 shares during the period. Schwab Charles Investment Management Inc. owned approximately 0.45% of Radian Group worth $17,302,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in RDN. Russell Investments Group Ltd. increased its position in Radian Group by 23.6% in the first quarter. Russell Investments Group Ltd. now owns 235,164 shares of the insurance provider’s stock worth $4,224,000 after buying an additional 44,912 shares during the period. Nationwide Fund Advisors increased its position in Radian Group by 18.8% in the first quarter. Nationwide Fund Advisors now owns 551,437 shares of the insurance provider’s stock worth $9,904,000 after buying an additional 87,194 shares during the period. James Investment Research Inc. acquired a new position in Radian Group during the first quarter worth $408,000. Dalton Greiner Hartman Maher & Co. increased its position in Radian Group by 3.3% in the first quarter. Dalton Greiner Hartman Maher & Co. now owns 1,430,302 shares of the insurance provider’s stock worth $25,688,000 after buying an additional 46,256 shares during the period. Finally, CrestPoint Capital Management LLC acquired a new position in Radian Group during the first quarter worth $492,000. 92.90% of the stock is owned by institutional investors and hedge funds.
Shares of Radian Group Inc. (RDN) traded up 0.86% during mid-day trading on Friday, reaching $17.57. 991,091 shares of the company’s stock were exchanged. Radian Group Inc. has a 52-week low of $12.56 and a 52-week high of $19.87. The company has a market cap of $3.78 billion, a PE ratio of 20.13 and a beta of 1.61. The company’s 50-day moving average price is $17.04 and its 200 day moving average price is $17.71.
Radian Group (NYSE:RDN) last posted its earnings results 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. Radian Group had a net margin of 16.26% and a return on equity of 12.84%. The firm had revenue of $302.91 million during the quarter, compared to analyst estimates of $299.07 million. During the same quarter in the prior year, the business posted $0.38 EPS. The business’s revenue was up 4.9% compared to the same quarter last year. On average, equities research analysts predict that Radian Group Inc. will post $1.70 EPS for the current year.
A number of research analysts recently weighed in on the stock. Barclays PLC reaffirmed an “overweight” rating and issued a $24.00 target price (down previously from $25.00) on shares of Radian Group in a research report on Wednesday. Zacks Investment Research downgraded shares of Radian Group from a “buy” rating to a “hold” rating in a research report on Friday, April 28th. Keefe, Bruyette & Woods reaffirmed a “buy” rating and issued a $21.00 target price on shares of Radian Group in a research report on Friday, April 28th. BidaskClub upgraded shares of Radian Group from a “sell” rating to a “hold” rating in a research note on Tuesday, June 13th. Finally, Deutsche Bank AG cut their price target on shares of Radian Group from $22.00 to $21.00 and set a “buy” rating for the company in a research note on Friday, April 28th. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently 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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