Radian Group Inc. (RDN) Shares Bought by Voya Investment Management LLC
Voya Investment Management LLC grew its stake in Radian Group Inc. (NYSE:RDN) by 12.3% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,193,385 shares of the insurance provider’s stock after acquiring an additional 130,441 shares during the period. Voya Investment Management LLC owned 0.55% of Radian Group worth $19,512,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. FMR LLC lifted its position in shares of Radian Group by 0.3% during the first quarter. FMR LLC now owns 19,336,037 shares of the insurance provider’s stock worth $347,275,000 after purchasing an additional 59,116 shares in the last quarter. Vanguard Group Inc. grew its stake in shares of Radian Group by 5.0% during the second quarter. Vanguard Group Inc. now owns 18,116,304 shares of the insurance provider’s stock valued at $296,201,000 after purchasing an additional 859,950 shares during the last quarter. BlackRock Inc. grew its stake in shares of Radian Group by 24,173.9% during the first quarter. BlackRock Inc. now owns 14,125,455 shares of the insurance provider’s stock valued at $253,692,000 after purchasing an additional 14,067,263 shares during the last quarter. LSV Asset Management grew its stake in shares of Radian Group by 0.6% during the second quarter. LSV Asset Management now owns 10,409,782 shares of the insurance provider’s stock valued at $170,199,000 after purchasing an additional 58,304 shares during the last quarter. Finally, State Street Corp increased its holdings in shares of Radian Group by 7.3% in the first quarter. State Street Corp now owns 7,682,263 shares of the insurance provider’s stock valued at $137,976,000 after purchasing an additional 524,837 shares in the last quarter. 90.02% of the stock is owned by institutional investors.
In other Radian Group news, SVP Catherine Mary Jackson sold 17,130 shares of the stock in a transaction that occurred on 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 directly owns 80,720 shares in the company, valued at approximately $1,389,998.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Richard G. Thornberry purchased 5,000 shares of the business’s stock in a transaction on Monday, August 21st. The shares were acquired at an average price of $16.54 per share, for a total transaction of $82,700.00. Following the completion of the acquisition, the chief executive officer now directly owns 20,000 shares in the company, valued at approximately $330,800. The disclosure for this purchase can be found here. Insiders own 1.83% of the company’s stock.
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Shares of Radian Group Inc. (RDN) opened at 18.76 on Tuesday. The firm’s 50-day moving average is $17.37 and its 200 day moving average is $17.30. The firm has a market capitalization of $4.04 billion, a P/E ratio of 21.54 and a beta of 1.51. 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 earnings results on Tuesday, August 1st. The insurance provider reported $0.48 EPS for the quarter, beating the 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 company had revenue of $302.91 million for the quarter, compared to analyst estimates of $299.07 million. During the same quarter in the prior year, the company earned $0.38 EPS. The firm’s revenue for the quarter was up 4.9% compared to the same quarter last year. Equities research analysts predict that Radian Group Inc. will post $1.72 earnings per share for the current year.
Radian Group declared that its Board of Directors has initiated a stock buyback program 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 shares through open market purchases. Shares buyback programs are typically an indication that the company’s leadership believes its shares are undervalued.
A number of equities research analysts have recently weighed in on the company. ValuEngine downgraded Radian Group from a “strong-buy” rating to a “buy” rating in a research report on Thursday, September 7th. Zacks Investment Research downgraded shares of Radian Group from a “hold” rating to a “sell” rating in a research report on Tuesday, July 4th. Barclays PLC reaffirmed an “overweight” rating and issued a $24.00 target price (down previously from $25.00) on shares of Radian Group in a research note on Wednesday, August 2nd. Finally, BidaskClub cut shares of Radian Group from a “hold” rating to a “sell” rating in a research report on Saturday, June 24th. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating, six have given a buy rating and one has given a strong buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $20.75.
About Radian Group
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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