Man Group plc Acquires New Holdings in Radian Group Inc. $RDN

Man Group plc bought a new stake in Radian Group Inc. (NYSE:RDN) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 420,346 shares of the insurance provider’s stock, valued at approximately $15,834,000. Man Group plc owned about 0.32% of Radian Group as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Mercer Global Advisors Inc. ADV raised its holdings in shares of Radian Group by 0.9% during the 3rd quarter. Mercer Global Advisors Inc. ADV now owns 33,365 shares of the insurance provider’s stock valued at $1,208,000 after purchasing an additional 288 shares in the last quarter. Hantz Financial Services Inc. increased its position in Radian Group by 26.9% during the fourth quarter. Hantz Financial Services Inc. now owns 1,553 shares of the insurance provider’s stock worth $56,000 after buying an additional 329 shares during the last quarter. Smartleaf Asset Management LLC increased its position in Radian Group by 14.6% during the second quarter. Smartleaf Asset Management LLC now owns 2,696 shares of the insurance provider’s stock worth $97,000 after buying an additional 344 shares during the last quarter. HighTower Advisors LLC raised its holdings in Radian Group by 6.1% during the fourth quarter. HighTower Advisors LLC now owns 6,060 shares of the insurance provider’s stock valued at $218,000 after buying an additional 349 shares in the last quarter. Finally, Jones Financial Companies Lllp raised its holdings in Radian Group by 14.8% during the first quarter. Jones Financial Companies Lllp now owns 2,764 shares of the insurance provider’s stock valued at $91,000 after buying an additional 357 shares in the last quarter. 95.33% of the stock is owned by institutional investors.

Insider Activity

In other news, CEO Michael S. Weinbach acquired 49,513 shares of the stock in a transaction dated Tuesday, June 2nd. The shares were acquired at an average cost of $34.04 per share, for a total transaction of $1,685,422.52. Following the completion of the transaction, the chief executive officer owned 170,000 shares in the company, valued at approximately $5,786,800. This trade represents a 41.09% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Corporate insiders own 2.03% of the company’s stock.

Radian Group Price Performance

Shares of Radian Group stock opened at $36.51 on Friday. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.60 and a quick ratio of 0.60. Radian Group Inc. has a fifty-two week low of $31.50 and a fifty-two week high of $41.05. The firm has a fifty day moving average price of $37.60 and a two-hundred day moving average price of $35.62. The company has a market cap of $4.83 billion, a PE ratio of 9.39, a price-to-earnings-growth ratio of 0.89 and a beta of 0.72.

Radian Group (NYSE:RDN) last posted its quarterly earnings data on Thursday, August 6th. The insurance provider reported $1.14 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.34 by ($0.20). The company had revenue of $574.96 million for the quarter, compared to the consensus estimate of $556.55 million. Radian Group had a return on equity of 13.65% and a net margin of 32.60%.The business’s revenue for the quarter was up 92.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.01 EPS. Analysts expect that Radian Group Inc. will post 4.86 EPS for the current year.

Radian Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 9th. Stockholders of record on Monday, August 24th will be issued a dividend of $0.255 per share. This represents a $1.02 annualized dividend and a dividend yield of 2.8%. The ex-dividend date of this dividend is Monday, August 24th. Radian Group’s dividend payout ratio (DPR) is presently 26.22%.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the company. Royal Bank Of Canada initiated coverage on Radian Group in a research report on Friday, May 22nd. They issued an “outperform” rating and a $47.00 price target for the company. Wall Street Zen downgraded Radian Group from a “buy” rating to a “hold” rating in a research note on Sunday, August 9th. Weiss Ratings upgraded Radian Group from a “buy (b)” rating to a “buy (b+)” rating in a report on Tuesday, August 11th. Barclays decreased their target price on Radian Group from $39.00 to $35.00 and set an “equal weight” rating for the company in a research report on Monday, August 10th. Finally, Keefe, Bruyette & Woods lowered their price target on Radian Group from $46.00 to $44.00 and set an “outperform” rating on the stock in a report on Tuesday, August 11th. Five research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $42.17.

About Radian Group

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.