Assenagon Asset Management S.A. acquired a new stake in shares of Radian Group Inc (NYSE:RDN) in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 16,400 shares of the insurance provider’s stock, valued at approximately $339,000.

Several other hedge funds have also modified their holdings of RDN. Principal Financial Group Inc. lifted its stake in Radian Group by 39.6% in the first quarter. Principal Financial Group Inc. now owns 31,986 shares of the insurance provider’s stock valued at $609,000 after buying an additional 9,070 shares during the period. Fox Run Management L.L.C. lifted its stake in Radian Group by 146.8% in the second quarter. Fox Run Management L.L.C. now owns 25,782 shares of the insurance provider’s stock valued at $418,000 after buying an additional 15,337 shares during the period. Cornerstone Wealth Management LLC acquired a new position in Radian Group in the second quarter valued at about $874,000. New York State Teachers Retirement System acquired a new position in Radian Group in the second quarter valued at about $311,000. Finally, Connor Clark & Lunn Investment Management Ltd. acquired a new position in Radian Group in the second quarter valued at about $1,951,000. 91.26% of the stock is owned by hedge funds and other institutional investors.

A number of research firms have recently commented on RDN. B. Riley raised their price target on Radian Group from $20.00 to $24.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 7th. TheStreet raised Radian Group from a “c+” rating to a “b-” rating in a research report on Tuesday, July 31st. Zacks Investment Research raised Radian Group from a “hold” rating to a “buy” rating and set a $19.00 price target on the stock in a research report on Tuesday, July 17th. ValuEngine raised Radian Group from a “sell” rating to a “hold” rating in a research report on Thursday, July 19th. Finally, Royal Bank of Canada reaffirmed a “hold” rating and set a $21.00 price target on shares of Radian Group in a research report on Friday, July 27th. Five investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Radian Group has a consensus rating of “Buy” and an average price target of $23.36.

Shares of Radian Group stock opened at $19.60 on Wednesday. Radian Group Inc has a 52-week low of $14.06 and a 52-week high of $23.49. The company has a market capitalization of $4.15 billion, a P/E ratio of 10.77, a PEG ratio of 1.49 and a beta of 1.45. The company has a current ratio of 1.53, a quick ratio of 1.53 and a debt-to-equity ratio of 0.31.

Radian Group (NYSE:RDN) last announced its earnings results on Wednesday, October 31st. The insurance provider reported $0.71 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.63 by $0.08. Radian Group had a return on equity of 17.34% and a net margin of 37.56%. The business had revenue of $330.70 million for the quarter, compared to analyst estimates of $334.59 million. During the same quarter last year, the firm earned $0.46 EPS. Radian Group’s revenue for the quarter was up 6.0% compared to the same quarter last year. Research analysts forecast that Radian Group Inc will post 2.61 earnings per share for the current year.

Radian Group announced that its Board of Directors has initiated a share buyback plan on Thursday, August 16th that permits the company to repurchase $100.00 million in outstanding shares. This repurchase authorization permits the insurance provider to buy up to 2.4% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s board believes its shares are undervalued.

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Radian Group Company Profile

Radian Group Inc, through its subsidiaries, provides mortgage and real estate products and services in the United States. It operates through two segments, Mortgage Insurance and Services. The Mortgage Insurance segment offers credit-related insurance coverage, primarily through private mortgage insurance, as well as other credit risk management solutions to mortgage lending institutions; and primary mortgage insurance coverage on residential first-lien mortgage loans.

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Institutional Ownership by Quarter for Radian Group (NYSE:RDN)

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