NewEdge Wealth LLC Takes Position in Radian Group Inc. $RDN

NewEdge Wealth LLC acquired a new stake in Radian Group Inc. (NYSE:RDN) during the second quarter, HoldingsChannel reports. The firm acquired 51,666 shares of the insurance provider’s stock, valued at approximately $1,946,000.

Several other hedge funds and other institutional investors also recently modified their holdings of RDN. Northwestern Mutual Wealth Management Co. boosted its holdings in shares of Radian Group by 178.9% in the third quarter. Northwestern Mutual Wealth Management Co. now owns 742 shares of the insurance provider’s stock valued at $27,000 after acquiring an additional 476 shares in the last quarter. 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 valued at $29,000 after acquiring an additional 572 shares during the last quarter. Fifth Third Bancorp increased its stake in shares of 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 purchasing an additional 360 shares in the last quarter. Measured Wealth Private Client Group LLC purchased a new position in Radian Group during the third quarter worth $34,000. Finally, Global Retirement Partners LLC purchased a new stake in Radian Group during the 2nd quarter worth about $37,000. 95.33% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

RDN has been the subject of several recent analyst reports. Royal Bank Of Canada started coverage on shares of Radian Group in a research note on Friday, May 22nd. They issued an “outperform” rating and a $47.00 target price for the company. Bank of America upgraded shares of Radian Group from an “underperform” rating to a “buy” rating and lifted their price target for the company from $35.00 to $43.00 in a report on Wednesday, April 29th. Weiss Ratings raised shares of Radian Group from a “buy (b)” rating to a “buy (b+)” rating in a research note on Tuesday, August 11th. Keefe, Bruyette & Woods dropped their target price on shares of Radian Group from $46.00 to $44.00 and set an “outperform” rating for the company in a research report on Tuesday, August 11th. Finally, Barclays lowered 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. Five 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, Radian Group currently has an average rating of “Moderate Buy” and an average target price of $42.17.

Radian Group Trading Up 0.8%

NYSE RDN opened at $36.64 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 12 month low of $31.50 and a 12 month high of $41.05. The company’s fifty day moving average price is $37.41 and its two-hundred day moving average price is $35.50. The company has a market capitalization of $4.85 billion, a price-to-earnings ratio of 9.42, a price-to-earnings-growth ratio of 0.88 and a beta of 0.72.

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

Radian Group Announces Dividend

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

Insider Buying and Selling

In other Radian Group news, Chairman Howard Bernard Culang sold 5,000 shares of Radian Group stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $36.20, for a total value of $181,000.00. Following the completion of the transaction, the chairman directly owned 11,662 shares in the company, valued at $422,164.40. The trade was a 30.01% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Noel Joseph Spiegel sold 4,834 shares of the company’s stock in a transaction that occurred 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 transaction, the director directly owned 20,008 shares of the company’s stock, valued at $724,089.52. This trade represents a 19.46% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 15,517 shares of company stock valued at $557,610. 2.03% of the stock is currently owned by insiders.

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.