Radian Group Inc. (NYSE:RDN) Shares Sold by Meeder Asset Management Inc.
Meeder Asset Management Inc. decreased its position in Radian Group Inc. (NYSE:RDN) by 33.9% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 9,979 shares of the insurance provider’s stock after selling 5,109 shares during the period. Meeder Asset Management Inc.’s holdings in Radian Group were worth $163,000 at the end of the most recent quarter.
Several other hedge funds also recently bought and sold shares of the company. Capital One National Association boosted its stake in Radian Group by 0.9% in the first quarter. Capital One National Association now owns 26,450 shares of the insurance provider’s stock worth $475,000 after buying an additional 243 shares in the last quarter. Ngam Advisors L.P. boosted its stake in Radian Group by 3.6% in the first quarter. Ngam Advisors L.P. now owns 17,395 shares of the insurance provider’s stock worth $312,000 after buying an additional 597 shares in the last quarter. Penserra Capital Management LLC boosted its stake in Radian Group by 4.9% in the first quarter. Penserra Capital Management LLC now owns 21,266 shares of the insurance provider’s stock worth $381,000 after buying an additional 984 shares in the last quarter. Colony Group LLC boosted its stake in Radian Group by 1.3% in the first quarter. Colony Group LLC now owns 133,020 shares of the insurance provider’s stock worth $2,389,000 after buying an additional 1,685 shares in the last quarter. Finally, Swiss National Bank boosted its stake in Radian Group by 0.7% in the first quarter. Swiss National Bank now owns 354,650 shares of the insurance provider’s stock worth $6,370,000 after buying an additional 2,300 shares in the last quarter. Institutional investors own 92.71% of the company’s stock.
Radian Group Inc. (NYSE RDN) traded down 1.07% during trading on Friday, reaching $16.72. 1,079,276 shares of the company were exchanged. The firm’s 50 day moving average price is $17.28 and its 200-day moving average price is $17.64. The stock has a market capitalization of $3.60 billion, a price-to-earnings ratio of 19.20 and a beta of 1.61. Radian Group Inc. has a one year low of $12.96 and a one year high of $19.87.
Radian Group (NYSE:RDN) last announced its quarterly earnings results on Tuesday, August 1st. The insurance provider reported $0.48 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.40 by $0.08. Radian Group had a return on equity of 12.81% and a net margin of 16.26%. The firm had revenue of $302.91 million for the quarter, compared to analysts’ expectations of $299.07 million. During the same period in the prior year, the business posted $0.38 earnings per share. The company’s revenue was up 4.9% on a year-over-year basis. On average, equities research analysts predict that Radian Group Inc. will post $1.72 earnings per share for the current year.
Radian Group announced that its Board of Directors has authorized a stock buyback plan on Wednesday, August 9th that authorizes the company to buyback $50.00 million in outstanding shares. This buyback authorization authorizes the insurance provider to purchase up to 1.3% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s leadership believes its stock is undervalued.
The business also recently declared a quarterly dividend, which will be paid on Friday, September 1st. Stockholders of record on Monday, August 21st will be given a dividend of $0.0025 per share. This represents a $0.01 annualized dividend and a dividend yield of 0.06%. The ex-dividend date of this dividend is Thursday, August 17th. Radian Group’s dividend payout ratio is presently 1.18%.
A number of analysts have recently issued reports on the stock. Barclays PLC restated an “overweight” rating and set a $24.00 target price (down previously from $25.00) on shares of Radian Group in a research note on Wednesday, August 2nd. BidaskClub upgraded shares of Radian Group from a “sell” rating to a “hold” rating in a research note on Tuesday, June 13th. Zacks Investment Research upgraded shares of Radian Group from a “strong sell” rating to a “hold” rating in a research note on Wednesday, June 28th. ValuEngine upgraded shares of Radian Group from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, June 7th. Finally, Keefe, Bruyette & Woods restated a “buy” rating and set a $21.00 target price on shares of Radian Group in a research note on Friday, April 28th. Two analysts have rated the stock with a sell rating, one has issued a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $20.75.
In other news, SVP Catherine Mary Jackson sold 17,130 shares of the company’s stock in a transaction dated Tuesday, August 15th. The stock was sold at an average price of $17.22, for a total transaction of $294,978.60. Following the sale, the senior vice president now directly owns 80,720 shares in the company, valued at $1,389,998.40. The sale was disclosed in a document filed with the SEC, which is available at this link. Corporate insiders own 1.83% of the company’s stock.
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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