Weiss Asset Management LP Invests $2.71 Million in Radian Group Inc. $RDN

by · The Cerbat Gem

Weiss Asset Management LP purchased a new position in Radian Group Inc. (NYSE:RDNFree Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 81,870 shares of the insurance provider’s stock, valued at approximately $2,708,000. Weiss Asset Management LP owned 0.06% of Radian Group at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Northwestern Mutual Wealth Management Co. boosted its position in Radian Group by 178.9% in the 3rd quarter. Northwestern Mutual Wealth Management Co. now owns 742 shares of the insurance provider’s stock valued at $27,000 after buying an additional 476 shares during the period. V Square Quantitative Management LLC purchased a new position in shares of Radian Group during the fourth quarter worth approximately $29,000. Geneos Wealth Management Inc. increased its position in shares of Radian Group by 191.3% during the first quarter. Geneos Wealth Management Inc. now owns 871 shares of the insurance provider’s stock worth $29,000 after acquiring an additional 572 shares during the period. Fifth Third Bancorp raised its stake in shares of Radian Group by 65.8% during the fourth quarter. Fifth Third Bancorp now owns 907 shares of the insurance provider’s stock valued at $33,000 after acquiring an additional 360 shares in the last quarter. Finally, Measured Wealth Private Client Group LLC bought a new stake in shares of Radian Group during the third quarter valued at approximately $34,000. Institutional investors own 95.33% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently issued reports on the company. Weiss Ratings reissued a “buy (b)” rating on shares of Radian Group in a research note on Tuesday, June 16th. Wall Street Zen lowered Radian Group from a “buy” rating to a “hold” rating in a research report on Sunday, July 12th. Bank of America upgraded Radian Group from an “underperform” rating to a “buy” rating and upped their target price for the stock from $35.00 to $43.00 in a report on Wednesday, April 29th. Barclays increased their price target on Radian Group from $37.00 to $39.00 and gave the stock an “equal weight” rating in a research report on Monday, May 11th. Finally, Royal Bank Of Canada assumed coverage on Radian Group in a research note on Friday, May 22nd. They set an “outperform” rating and a $47.00 price target on the stock. Five research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $43.17.

View Our Latest Stock Analysis on RDN

Insiders Place Their Bets

In related news, CEO Michael S. Weinbach purchased 120,487 shares of the business’s stock in a transaction dated Monday, June 1st. The shares were acquired at an average cost of $33.89 per share, for a total transaction of $4,083,304.43. Following the acquisition, the chief executive officer owned 120,487 shares of the company’s stock, valued at $4,083,304.43. The trade was a ∞ increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Noel Joseph Spiegel sold 4,834 shares of the business’s stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $36.19, for a total value of $174,942.46. Following the completion of the transaction, the director directly owned 20,008 shares of the company’s stock, valued at approximately $724,089.52. The trade was a 19.46% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 45,516 shares of company stock worth $1,682,576. Insiders own 2.03% of the company’s stock.

Radian Group Price Performance

Shares of RDN opened at $38.63 on Monday. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.58 and a current ratio of 0.58. The company has a 50 day moving average price of $36.42 and a 200-day moving average price of $34.95. Radian Group Inc. has a fifty-two week low of $31.50 and a fifty-two week high of $41.05. The stock has a market capitalization of $5.14 billion, a PE ratio of 9.51, a PEG ratio of 0.97 and a beta of 0.72.

Radian Group (NYSE:RDNGet Free Report) last issued its quarterly earnings data on Thursday, May 7th. The insurance provider reported $1.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.17 by $0.10. The company had revenue of $466.34 million for the quarter, compared to analyst estimates of $377.83 million. Radian Group had a net margin of 40.50% and a return on equity of 13.57%. Radian Group’s revenue was up 46.6% compared to the same quarter last year. During the same period last year, the company posted $0.99 earnings per share. Equities analysts predict that Radian Group Inc. will post 5.17 earnings per share for the current fiscal year.

Radian Group Dividend Announcement

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

Radian Group Profile

(Free Report)

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.

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