Radian Group Inc. $RDN Shares Sold by VIRGINIA RETIREMENT SYSTEMS ET Al

by · The Markets Daily

VIRGINIA RETIREMENT SYSTEMS ET Al decreased its holdings in Radian Group Inc. (NYSE:RDN – Free Report) by 17.1% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,002,772 shares of the insurance provider’s stock after selling 206,500 shares during the quarter. VIRGINIA RETIREMENT SYSTEMS ET Al’s holdings in Radian Group were worth $30,695,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of the business. IFP Advisors Inc raised its position in shares of Radian Group by 109.3% in the 2nd quarter. IFP Advisors Inc now owns 672 shares of the insurance provider’s stock valued at $25,000 after purchasing an additional 351 shares in the last quarter. Root Financial Partners LLC purchased a new position in shares of Radian Group during the 3rd quarter valued at approximately $36,000. Global Retirement Partners LLC acquired a new stake in Radian Group in the second quarter valued at $37,000. Integrated Wealth Concepts LLC acquired a new stake in Radian Group in the second quarter valued at $44,000. Finally, Nykredit A S acquired a new stake in Radian Group in the second quarter valued at $55,000. Institutional investors and hedge funds own 95.33% of the company’s stock.

Insider Buying and Selling at Radian Group

In related news, EVP Meghan Bartholomew sold 7,812 shares of the firm’s stock in a transaction that occurred on Monday, September 14th. The stock was sold at an average price of $35.94, for a total value of $280,763.28. Following the sale, the executive vice president directly owned 39,203 shares in the company, valued at $1,408,955.82. This trade represents a 16.62% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 2.03% of the company’s stock.

Analyst Upgrades and Downgrades

RDN has been the subject of several recent analyst reports. Keefe, Bruyette & Woods decreased their price objective on shares of Radian Group from $46.00 to $44.00 and set an “outperform” rating for the company in a report on Tuesday, August 11th. Barclays upped their target price on shares of Radian Group from $35.00 to $36.00 and gave the company an “equal weight” rating in a research note on Monday, October 5th. Weiss Ratings cut shares of Radian Group from a “buy (b+)” rating to a “buy (b)” rating in a research report on Tuesday, October 13th. BTIG Research assumed coverage on Radian Group in a research note on Tuesday, September 22nd. They issued a “buy” rating and a $48.00 price target for the company. Finally, Zacks Research raised Radian Group from a “strong sell” rating to a “hold” rating in a report on Tuesday, October 13th. Six analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $43.14.

Read Our Latest Stock Analysis on RDN

Radian Group Trading Down 0.4%

Shares of NYSE RDN opened at $35.53 on Friday. The company has a market cap of $4.70 billion, a price-to-earnings ratio of 9.13, a price-to-earnings-growth ratio of 0.89 and a beta of 0.71. Radian Group Inc. has a 12-month low of $30.53 and a 12-month high of $41.05. The company has a current ratio of 0.60, a quick ratio of 0.60 and a debt-to-equity ratio of 0.14. The stock’s 50 day simple moving average is $34.83 and its 200 day simple moving average is $35.18.

Radian Group (NYSE:RDN – Get Free Report) last released its quarterly earnings data on Thursday, August 6th. The insurance provider reported $1.14 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.34 by ($0.20). Radian Group had a net margin of 32.60% and a return on equity of 13.65%. The company had revenue of $574.96 million for the quarter, compared to analyst estimates of $556.55 million. During the same quarter in the prior year, the firm earned $1.01 EPS. The company’s revenue for the quarter was up 92.3% compared to the same quarter last year. Equities research analysts expect that Radian Group Inc. will post 4.85 EPS for the current year.

Radian Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 9th. Stockholders of record on Monday, August 24th were issued a dividend of $0.2550 per share. This represents a $1.02 dividend on an annualized basis and a dividend yield of 2.9%. The ex-dividend date of this dividend was Monday, August 24th. Radian Group’s payout ratio is 26.22%.

About Radian Group

(Free Report)

Radian Group Inc (NYSE:RDN) is a financial services company that provides mortgage insurance and related services to the residential real estate industry. Through its mortgage insurance subsidiaries, including Radian Guaranty Inc, the company helps lenders manage credit risk on residential mortgages, particularly loans made to borrowers with smaller down payments. Its insurance can also help borrowers obtain home financing without contributing a traditional 20% down payment.

Radian’s mortgage insurance business serves mortgage lenders, banks, credit unions and other housing finance participants primarily in the United States.

See Also

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