PDT Partners LLC Decreases Holdings in Radian Group Inc. (RDN)
PDT Partners LLC lessened its holdings in Radian Group Inc. (NYSE:RDN) by 7.9% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 605,582 shares of the insurance provider’s stock after selling 51,821 shares during the quarter. PDT Partners LLC owned approximately 0.28% of Radian Group worth $9,901,000 at the end of the most recent quarter.
Other institutional investors have also added to or reduced their stakes in the company. Quantbot Technologies LP acquired a new position in Radian Group in the first quarter worth $114,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Radian Group by 11.5% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,781 shares of the insurance provider’s stock worth $127,000 after purchasing an additional 803 shares during the period. Skba Capital Management LLC acquired a new position in Radian Group in the second quarter worth $170,000. Zacks Investment Management acquired a new position in Radian Group in the second quarter worth $175,000. Finally, ETRADE Capital Management LLC acquired a new position in Radian Group in the second quarter worth $183,000. 90.02% of the stock is owned by hedge funds and other institutional investors.
In other Radian Group news, CEO Richard G. Thornberry purchased 5,000 shares of the stock in a transaction that occurred on Monday, August 21st. The shares were purchased at an average cost of $16.54 per share, for a total transaction of $82,700.00. Following the completion of the transaction, the chief executive officer now owns 20,000 shares of the company’s stock, valued at approximately $330,800. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Catherine Mary Jackson sold 17,130 shares of the business’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 transaction, the senior vice president now owns 80,720 shares in the company, valued at $1,389,998.40. The disclosure for this sale can be found here. Insiders own 1.83% of the company’s stock.
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Shares of Radian Group Inc. (NYSE RDN) traded down 0.43% during trading on Friday, hitting $18.69. 1,164,149 shares of the stock traded hands. Radian Group Inc. has a 52 week low of $12.96 and a 52 week high of $19.87. The firm’s 50-day moving average price is $17.19 and its 200-day moving average price is $17.33. The company has a market cap of $4.02 billion, a price-to-earnings ratio of 21.46 and a beta of 1.58.
Radian Group (NYSE:RDN) last posted its quarterly earnings results on Tuesday, August 1st. The insurance provider reported $0.48 earnings per share for the quarter, topping analysts’ consensus estimates of $0.40 by $0.08. The firm had revenue of $302.91 million for the quarter, compared to analyst estimates of $299.07 million. Radian Group had a net margin of 16.26% and a return on equity of 12.81%. Radian Group’s quarterly revenue was up 4.9% on a year-over-year basis. During the same period in the previous year, the business posted $0.38 earnings per share. On average, equities research analysts anticipate that Radian Group Inc. will post $1.72 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Friday, September 1st. Investors of record on Monday, August 21st were given a dividend of $0.0025 per share. The ex-dividend date was Thursday, August 17th. This represents a $0.01 dividend on an annualized basis and a yield of 0.05%. Radian Group’s payout ratio is presently 1.18%.
Radian Group declared that its board has authorized a stock repurchase plan on Wednesday, August 9th that permits the company to repurchase $50.00 million in outstanding shares. This repurchase authorization permits the insurance provider to purchase up to 1.3% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board of directors believes its stock is undervalued.
A number of equities analysts have commented on RDN shares. ValuEngine downgraded shares of Radian Group from a “strong-buy” rating to a “buy” rating in a report on Thursday, September 7th. Zacks Investment Research downgraded shares of Radian Group from a “hold” rating to a “sell” rating in a report on Tuesday, July 4th. Barclays PLC reaffirmed an “overweight” rating and issued a $24.00 price objective (down previously from $25.00) on shares of Radian Group in a report on Wednesday, August 2nd. Finally, BidaskClub downgraded shares of Radian Group from a “hold” rating to a “sell” rating in a report on Saturday, June 24th. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $20.75.
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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