Norges Bank Takes Position in Radian Group Inc. $RDN

Norges Bank purchased a new stake in Radian Group Inc. (NYSE:RDN) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 2,149,601 shares of the insurance provider’s stock, valued at approximately $77,364,000.

Several other large investors have also modified their holdings of RDN. Northwestern Mutual Wealth Management Co. lifted its stake in shares of Radian Group by 178.9% in the 3rd quarter. Northwestern Mutual Wealth Management Co. now owns 742 shares of the insurance provider’s stock valued at $27,000 after purchasing an additional 476 shares during the last quarter. Bessemer Group Inc. lifted its stake in Radian Group by 66.7% during the 3rd quarter. Bessemer Group Inc. now owns 795 shares of the insurance provider’s stock worth $29,000 after acquiring an additional 318 shares in the last quarter. V Square Quantitative Management LLC acquired a new position in Radian Group during the 4th quarter worth about $29,000. Geneos Wealth Management Inc. lifted its stake in Radian Group by 191.3% during the 1st quarter. Geneos Wealth Management Inc. now owns 871 shares of the insurance provider’s stock worth $29,000 after acquiring an additional 572 shares in the last quarter. Finally, Fifth Third Bancorp lifted its stake in Radian Group by 65.8% during the 4th quarter. Fifth Third Bancorp now owns 907 shares of the insurance provider’s stock worth $33,000 after acquiring an additional 360 shares in the last quarter. Institutional investors and hedge funds own 95.33% of the company’s stock.

Insiders Place Their Bets

In other news, Director Margaret Anne Leyden sold 2,070 shares of the stock in a transaction dated Friday, May 29th. The stock was sold at an average price of $34.59, for a total value of $71,601.30. Following the transaction, the director owned 6,864 shares in the company, valued at approximately $237,425.76. This represents a 23.17% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Michael S. Weinbach acquired 120,487 shares of the company’s stock in a transaction dated Monday, June 1st. The stock was acquired at an average price of $33.89 per share, for a total transaction of $4,083,304.43. Following the acquisition, the chief executive officer owned 120,487 shares in the company, valued at approximately $4,083,304.43. The trade was a ∞ increase in their position. The SEC filing for this purchase provides additional information. In the last quarter, insiders have sold 75,516 shares of company stock worth $2,747,576. 2.03% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on RDN shares. Barclays increased their target price on Radian Group from $37.00 to $39.00 and gave the stock an “equal weight” rating in a research note on Monday, May 11th. Zacks Research lowered Radian Group from a “strong-buy” rating to a “hold” rating in a research note on Monday, April 20th. Royal Bank Of Canada started coverage on Radian Group in a research note on Friday, May 22nd. They set an “outperform” rating and a $47.00 target price on the stock. UBS Group decreased their target price on Radian Group from $41.00 to $39.00 and set a “neutral” rating on the stock in a research note on Thursday, March 12th. Finally, Bank of America raised Radian Group from an “underperform” rating to a “buy” rating and increased their target price for the stock from $35.00 to $43.00 in a research note on Wednesday, April 29th. Five equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $42.67.

Radian Group Price Performance

Shares of NYSE RDN opened at $33.77 on Friday. The stock’s 50-day moving average is $35.26 and its two-hundred day moving average is $34.68. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.58 and a quick ratio of 0.58. Radian Group Inc. has a 1-year low of $31.50 and a 1-year high of $38.84. The company has a market cap of $4.49 billion, a price-to-earnings ratio of 8.32, a price-to-earnings-growth ratio of 0.85 and a beta of 0.73.

Radian Group (NYSE:RDN) last issued its quarterly earnings results on Thursday, May 7th. The insurance provider reported $1.27 earnings per share for the quarter, topping the consensus estimate of $1.17 by $0.10. Radian Group had a return on equity of 13.57% and a net margin of 40.50%.The company had revenue of $466.34 million for the quarter, compared to the consensus estimate of $377.83 million. During the same quarter in the prior year, the business earned $0.99 EPS. Radian Group’s revenue was up 46.6% on a year-over-year basis. Analysts forecast that Radian Group Inc. will post 5.17 EPS for the current fiscal year.

Radian Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 17th. Stockholders of record on Tuesday, June 2nd will be issued a $0.255 dividend. The ex-dividend date is Tuesday, June 2nd. This represents a $1.02 dividend on an annualized basis and a dividend yield of 3.0%. Radian Group’s dividend payout ratio is presently 25.12%.

Radian Group Profile

Radian Group Inc (NYSE:RDN) is a leading provider of private mortgage insurance and related risk management solutions in the United States. Through its primary subsidiary, Radian Guaranty Inc, the company underwrites borrower-paid and lender-paid mortgage insurance that protects lenders and investors from potential losses arising from borrower defaults. Radian’s core business focuses on supporting residential mortgage originations and servicing by offering capital-efficient credit protection and credit risk transfer strategies.

Beyond mortgage insurance, Radian offers an array of real estate transaction services under its Radian Title division.