Fifth Third Bancorp Raises Position in Radian Group Inc. $RDN

Fifth Third Bancorp grew its stake in Radian Group Inc. (NYSE:RDN) by 17,199.1% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 156,903 shares of the insurance provider’s stock after purchasing an additional 155,996 shares during the period. Fifth Third Bancorp owned approximately 0.12% of Radian Group worth $5,190,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Charles Schwab Investment Management Inc. lifted its position in Radian Group by 1.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 5,959,463 shares of the insurance provider’s stock worth $214,481,000 after buying an additional 63,437 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in Radian Group by 5.0% during the 4th quarter. Dimensional Fund Advisors LP now owns 5,717,423 shares of the insurance provider’s stock valued at $205,773,000 after purchasing an additional 274,222 shares during the last quarter. Donald Smith & CO. Inc. grew its holdings in Radian Group by 43.7% during the 4th quarter. Donald Smith & CO. Inc. now owns 3,012,255 shares of the insurance provider’s stock valued at $108,411,000 after purchasing an additional 916,003 shares during the last quarter. Balyasny Asset Management L.P. raised its position in Radian Group by 16.8% in the 4th quarter. Balyasny Asset Management L.P. now owns 2,188,624 shares of the insurance provider’s stock worth $78,769,000 after purchasing an additional 315,575 shares during the period. Finally, Norges Bank bought a new stake in Radian Group in the fourth quarter worth about $77,364,000. Hedge funds and other institutional investors own 95.33% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the company. Bank of America raised Radian Group from an “underperform” rating to a “buy” rating and upped their price objective for the company from $35.00 to $43.00 in a research report on Wednesday, April 29th. Weiss Ratings reissued a “buy (b)” rating on shares of Radian Group in a research note on Tuesday, June 16th. Keefe, Bruyette & Woods raised their price target on shares of Radian Group from $43.00 to $46.00 and gave the stock an “outperform” rating in a research note on Thursday, June 25th. Royal Bank Of Canada assumed coverage on shares of Radian Group in a report on Friday, May 22nd. They set an “outperform” rating and a $47.00 price objective for the company. Finally, Wall Street Zen downgraded Radian Group from a “buy” rating to a “hold” rating in a report on Sunday, July 12th. Five equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $43.17.

Insider Transactions at Radian Group

In related news, CEO Michael S. Weinbach purchased 49,513 shares of Radian Group stock in a transaction dated Tuesday, June 2nd. The shares were acquired at an average cost of $34.04 per share, with a total value of $1,685,422.52. Following the purchase, the chief executive officer owned 170,000 shares of the company’s stock, valued at approximately $5,786,800. The trade was a 41.09% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Margaret Anne Leyden sold 2,070 shares of the firm’s stock in a transaction on 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 of the company’s stock, valued at approximately $237,425.76. This represents a 23.17% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 60,516 shares of company stock valued at $2,222,576 in the last three months. 2.03% of the stock is currently owned by corporate insiders.

Radian Group Stock Performance

NYSE RDN opened at $39.37 on Friday. The company has a current ratio of 0.58, a quick ratio of 0.58 and a debt-to-equity ratio of 0.16. The stock has a 50-day moving average of $36.28 and a 200 day moving average of $34.88. The stock has a market capitalization of $5.23 billion, a price-to-earnings ratio of 9.70, a PEG ratio of 0.98 and a beta of 0.72. Radian Group Inc. has a twelve month low of $31.50 and a twelve month high of $41.05.

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

Radian Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 17th. Investors of record on Tuesday, June 2nd were given a dividend of $0.255 per share. The ex-dividend date was Tuesday, June 2nd. This represents a $1.02 dividend on an annualized basis and a yield of 2.6%. Radian Group’s dividend payout ratio (DPR) is presently 25.12%.

Radian Group Company 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.