Great Lakes Advisors LLC Takes Position in Radian Group Inc. $RDN

Great Lakes Advisors LLC purchased a new position in shares of Radian Group Inc. (NYSE:RDN) during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 183,613 shares of the insurance provider’s stock, valued at approximately $6,917,000.

Several other institutional investors have also recently added to or reduced their stakes in RDN. Northwestern Mutual Wealth Management Co. grew its position in 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 buying an additional 476 shares during the last quarter. Geneos Wealth Management Inc. raised its position 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 buying an additional 572 shares during the last quarter. Fifth Third Bancorp raised its position 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 buying an additional 360 shares during the last quarter. Measured Wealth Private Client Group LLC acquired a new stake in shares of Radian Group in the 3rd quarter worth $34,000. Finally, Global Retirement Partners LLC acquired a new stake in shares of Radian Group in the 2nd quarter worth $37,000. Institutional investors and hedge funds own 95.33% of the company’s stock.

Radian Group Price Performance

Shares of NYSE:RDN opened at $36.40 on Thursday. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.60 and a current ratio of 0.60. The business’s fifty day moving average price is $37.36 and its two-hundred day moving average price is $35.48. The stock has a market cap of $4.82 billion, a PE ratio of 9.36, a price-to-earnings-growth ratio of 0.89 and a beta of 0.72. Radian Group Inc. has a one year low of $31.50 and a one year high of $41.05.

Radian Group (NYSE:RDN) last released its quarterly earnings results on Thursday, August 6th. The insurance provider reported $1.14 earnings per share for the quarter, missing analysts’ consensus estimates of $1.34 by ($0.20). Radian Group had a return on equity of 13.65% and a net margin of 32.60%.The company had revenue of $574.96 million during the quarter, compared to analyst estimates of $556.55 million. During the same period last year, the firm earned $1.01 earnings per share. The business’s revenue was up 92.3% compared to the same quarter last year. On average, analysts forecast that Radian Group Inc. will post 4.86 EPS for the current fiscal year.

Radian Group Announces Dividend

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

Insider Activity

In other news, CEO Michael S. Weinbach bought 120,487 shares of the stock in a transaction on Monday, June 1st. The stock was purchased at an average cost of $33.89 per share, with a total value of $4,083,304.43. Following the purchase, the chief executive officer owned 120,487 shares of the company’s stock, valued at approximately $4,083,304.43. The trade was a ∞ increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at this link. Also, Director Noel Joseph Spiegel sold 4,834 shares of Radian Group stock in a transaction on Tuesday, May 26th. The shares were sold at an average price of $36.19, for a total value of $174,942.46. Following the completion of the sale, the director directly owned 20,008 shares of the company’s stock, valued at approximately $724,089.52. This represents a 19.46% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 15,517 shares of company stock worth $557,610. Company insiders own 2.03% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the company. Bank of America upgraded Radian Group from an “underperform” rating to a “buy” rating and boosted their target price for the stock from $35.00 to $43.00 in a research report on Wednesday, April 29th. Barclays reduced their price target on Radian Group from $39.00 to $35.00 and set an “equal weight” rating for the company in a report on Monday, August 10th. Wall Street Zen downgraded Radian Group from a “buy” rating to a “hold” rating in a research note on Sunday, August 9th. Keefe, Bruyette & Woods dropped their price objective on Radian Group from $46.00 to $44.00 and set an “outperform” rating on the stock in a report on Tuesday, August 11th. Finally, Weiss Ratings upgraded Radian Group from a “buy (b)” rating to a “buy (b+)” rating in a research report on Tuesday, August 11th. Five research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $42.17.

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.