Skba Capital Management LLC bought a new stake in shares of Radian Group Inc. (NYSE:RDN) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 10,400 shares of the insurance provider’s stock, valued at approximately $170,000.
Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Alliancebernstein L.P. grew its stake in shares of Radian Group by 3.7% during the second quarter. Alliancebernstein L.P. now owns 659,342 shares of the insurance provider’s stock valued at $10,780,000 after buying an additional 23,220 shares during the last quarter. LSV Asset Management grew its stake in Radian Group by 0.6% in the second quarter. LSV Asset Management now owns 10,409,782 shares of the insurance provider’s stock worth $170,199,000 after purchasing an additional 58,304 shares in the last quarter. Calamos Advisors LLC grew its stake in Radian Group by 62.5% in the second quarter. Calamos Advisors LLC now owns 2,054,000 shares of the insurance provider’s stock worth $33,583,000 after purchasing an additional 790,132 shares in the last quarter. JPMorgan Chase & Co. grew its stake in Radian Group by 115.4% in the second quarter. JPMorgan Chase & Co. now owns 336,132 shares of the insurance provider’s stock worth $5,495,000 after purchasing an additional 180,109 shares in the last quarter. Finally, Burney Co. bought a new position in Radian Group in the second quarter worth approximately $236,000. 90.01% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Radian Group Inc. (RDN) traded down 0.029% during mid-day trading on Friday, hitting $17.065. The stock had a trading volume of 574,679 shares. The firm has a market cap of $3.67 billion, a PE ratio of 19.592 and a beta of 1.58. Radian Group Inc. has a 12 month low of $12.96 and a 12 month high of $19.87. The stock’s 50-day moving average is $17.19 and its 200 day moving average is $17.38.
Radian Group (NYSE:RDN) last released its quarterly earnings results on Tuesday, August 1st. The insurance provider reported $0.48 EPS for the quarter, topping analysts’ consensus estimates of $0.40 by $0.08. Radian Group had a net margin of 16.26% and a return on equity of 12.81%. The company had revenue of $302.91 million for the quarter, compared to the consensus estimate of $299.07 million. During the same period in the previous year, the firm earned $0.38 EPS. Radian Group’s revenue was up 4.9% on a year-over-year basis. Equities research analysts predict that Radian Group Inc. will post $1.72 earnings per share for the current fiscal year.
Radian Group announced that its Board of Directors has authorized a share buyback program on Wednesday, August 9th that permits the company to repurchase $50.00 million in shares. This repurchase authorization permits the insurance provider to repurchase up to 1.3% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s management believes its shares are undervalued.
The firm also recently announced a quarterly dividend, which was paid on Friday, September 1st. Investors of record on Monday, August 21st were issued a $0.0025 dividend. The ex-dividend date of this dividend was Thursday, August 17th. This represents a $0.01 dividend on an annualized basis and a dividend yield of 0.06%. Radian Group’s payout ratio is currently 1.18%.
In other news, CEO Richard G. Thornberry bought 5,000 shares of the company’s stock in a transaction dated Monday, August 21st. The shares were acquired at an average cost of $16.54 per share, with a total value of $82,700.00. Following the completion of the transaction, the chief executive officer now directly owns 20,000 shares in the company, valued at approximately $330,800. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Richard G. Thornberry acquired 15,000 shares of the stock in a transaction that occurred on Friday, August 18th. The shares were bought at an average cost of $16.78 per share, for a total transaction of $251,700.00. Following the completion of the transaction, the chief executive officer now directly owns 15,000 shares of the company’s stock, valued at approximately $251,700. The disclosure for this purchase can be found here. 1.83% of the stock is owned by insiders.
Several research analysts recently issued reports on RDN shares. Keefe, Bruyette & Woods reissued a “buy” rating and issued a $21.00 price objective on shares of Radian Group in a research note on Tuesday, May 30th. ValuEngine cut Radian Group from a “strong-buy” rating to a “buy” rating in a research note on Thursday, September 7th. BidaskClub raised Radian Group from a “sell” rating to a “hold” rating in a research note on Tuesday, June 13th. Zacks Investment Research raised Radian Group from a “strong sell” rating to a “hold” rating in a research report on Wednesday, June 28th. Finally, Barclays PLC reaffirmed an “overweight” rating and set a $24.00 target price (down previously from $25.00) on shares of Radian Group in a research report on Wednesday, August 2nd. Two research analysts have rated the stock with a sell rating, one has issued a hold rating and seven have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $20.75.
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Radian Group Company Profile
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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