Allianz Asset Management GmbH Sells 2,484 Shares of Radian Group Inc. $RDN

Allianz Asset Management GmbH lessened its position in shares of Radian Group Inc. (NYSE:RDN) by 0.3% during the second quarter, HoldingsChannel.com reports. The fund owned 971,976 shares of the insurance provider’s stock after selling 2,484 shares during the period. Allianz Asset Management GmbH’s holdings in Radian Group were worth $35,011,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of RDN. Geneos Wealth Management Inc. grew its stake in Radian Group by 191.3% in the 1st quarter. Geneos Wealth Management Inc. now owns 871 shares of the insurance provider’s stock worth $29,000 after buying an additional 572 shares in the last quarter. Covestor Ltd grew its stake in Radian Group by 42.6% in the 1st quarter. Covestor Ltd now owns 1,927 shares of the insurance provider’s stock worth $64,000 after buying an additional 576 shares in the last quarter. Virtus Advisers LLC purchased a new position in Radian Group in the 1st quarter worth approximately $88,000. Jones Financial Companies Lllp grew its stake in Radian Group by 14.8% in the 1st quarter. Jones Financial Companies Lllp now owns 2,764 shares of the insurance provider’s stock worth $91,000 after buying an additional 357 shares in the last quarter. Finally, US Bancorp DE grew its stake in Radian Group by 22.7% in the 1st quarter. US Bancorp DE now owns 3,972 shares of the insurance provider’s stock worth $131,000 after buying an additional 735 shares in the last quarter. Institutional investors own 95.33% of the company’s stock.

Insider Buying and Selling

In related news, EVP Edward J. Hoffman sold 10,000 shares of the company’s stock in a transaction on Thursday, September 18th. The shares were sold at an average price of $37.00, for a total transaction of $370,000.00. Following the completion of the sale, the executive vice president directly owned 153,708 shares in the company, valued at $5,687,196. This represents a 6.11% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. 2.01% of the stock is owned by corporate insiders.

Radian Group Price Performance

Shares of Radian Group stock opened at $33.06 on Friday. Radian Group Inc. has a 52-week low of $29.32 and a 52-week high of $38.84. The stock has a market capitalization of $4.48 billion, a price-to-earnings ratio of 8.33 and a beta of 0.73. The company has a fifty day moving average of $34.98 and a 200-day moving average of $34.10. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.68 and a current ratio of 1.68.

Radian Group (NYSE:RDN) last announced its quarterly earnings data on Wednesday, July 30th. The insurance provider reported $1.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.93 by $0.08. Radian Group had a net margin of 45.62% and a return on equity of 13.25%. The company had revenue of $318.00 million during the quarter, compared to analysts’ expectations of $321.97 million. During the same quarter in the prior year, the company earned $0.98 EPS. The firm’s revenue was down .9% on a year-over-year basis. Equities research analysts expect that Radian Group Inc. will post 3.79 EPS for the current year.

Radian Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 9th. Investors of record on Monday, August 25th were issued a dividend of $0.255 per share. This represents a $1.02 dividend on an annualized basis and a yield of 3.1%. The ex-dividend date was Monday, August 25th. Radian Group’s dividend payout ratio is currently 25.69%.

Analysts Set New Price Targets

A number of equities analysts have commented on RDN shares. Zacks Research raised shares of Radian Group from a “hold” rating to a “strong-buy” rating in a research note on Monday, September 22nd. Barclays boosted their price target on shares of Radian Group from $35.00 to $37.00 and gave the stock a “cautious” rating in a research note on Monday, October 6th. UBS Group cut their price objective on shares of Radian Group from $43.00 to $40.00 and set a “neutral” rating for the company in a research note on Wednesday. Keefe, Bruyette & Woods cut shares of Radian Group from a “moderate buy” rating to a “hold” rating and set a $38.00 price objective for the company. in a research note on Monday, July 7th. Finally, Weiss Ratings reaffirmed a “buy (a-)” rating on shares of Radian Group in a research note on Wednesday, October 8th. Two equities research analysts have rated the stock with a Strong Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $38.00.

About Radian Group

Radian Group Inc, together with its subsidiaries, engages in the mortgage and real estate services business in the United States. It operates through two segments, Mortgage Insurance and Homegenius segments. The Mortgage Insurance segment aggregates, manages, and distributes U.S. mortgage credit risk for mortgage lending institutions and mortgage credit investors, through private mortgage insurance on residential first-lien mortgage loans; and other credit risk management solutions, including contract underwriting.