Royce & Associates LP Grows Holdings in Radian Group Inc (RDN)
Royce & Associates LP boosted its position in shares of Radian Group Inc (NYSE:RDN) by 7.0% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 624,300 shares of the insurance provider’s stock after purchasing an additional 41,100 shares during the period. Royce & Associates LP owned about 0.29% of Radian Group worth $12,904,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently added to or reduced their stakes in the business. Signaturefd LLC boosted its stake in shares of Radian Group by 18,072.3% during the 2nd quarter. Signaturefd LLC now owns 15,083 shares of the insurance provider’s stock worth $245,000 after buying an additional 15,000 shares during the last quarter. Baird Financial Group Inc. acquired a new position in shares of Radian Group during the 2nd quarter worth about $520,000. State of Alaska Department of Revenue acquired a new position in shares of Radian Group during the 3rd quarter worth about $267,000. Capital Fund Management S.A. acquired a new position in shares of Radian Group during the 2nd quarter worth about $10,201,000. Finally, Sei Investments Co. boosted its stake in shares of Radian Group by 0.7% during the 2nd quarter. Sei Investments Co. now owns 477,155 shares of the insurance provider’s stock worth $7,740,000 after buying an additional 3,235 shares during the last quarter. Hedge funds and other institutional investors own 91.67% of the company’s stock.
A number of equities analysts have recently commented on the stock. ValuEngine upgraded shares of Radian Group from a “sell” rating to a “hold” rating in a research note on Thursday, November 8th. Bank of America increased their price objective on shares of Radian Group from $13.00 to $23.00 and gave the stock a “buy” rating in a research note on Monday, August 13th. Finally, Compass Point set a $26.00 price objective on shares of Radian Group and gave the stock a “buy” rating in a research note on Thursday, November 1st. One analyst has rated the stock with a sell rating, four have given a hold rating and eight have given a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $23.36.
Radian Group (NYSE:RDN) last issued its earnings results on Wednesday, October 31st. The insurance provider reported $0.71 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.63 by $0.08. Radian Group had a net margin of 37.56% and a return on equity of 17.34%. The business had revenue of $330.70 million during the quarter, compared to the consensus estimate of $334.59 million. During the same period last year, the business posted $0.46 EPS. Radian Group’s revenue was up 6.0% on a year-over-year basis. On average, sell-side analysts expect that Radian Group Inc will post 2.66 EPS for the current year.
Radian Group announced that its Board of Directors has initiated a stock buyback plan on Thursday, August 16th that permits the company to repurchase $100.00 million in shares. This repurchase authorization permits the insurance provider to purchase up to 2.4% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board believes its stock is undervalued.
The company also recently announced a quarterly dividend, which will be paid on Friday, December 7th. Investors of record on Monday, November 26th will be paid a $0.0025 dividend. The ex-dividend date is Friday, November 23rd. This represents a $0.01 annualized dividend and a yield of 0.06%. Radian Group’s dividend payout ratio (DPR) is currently 0.55%.
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About Radian Group
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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