Radian Group Inc. $RDN Position Lowered by Sterling Capital Management LLC

Sterling Capital Management LLC trimmed its position in Radian Group Inc. (NYSE:RDN) by 97.0% in the third quarter, Holdings Channel reports. The fund owned 2,639 shares of the insurance provider’s stock after selling 86,709 shares during the quarter. Sterling Capital Management LLC’s holdings in Radian Group were worth $81,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the company. BlackRock Inc. bought a new stake in Radian Group during the 2nd quarter worth $728,072,000. Dimensional Fund Advisors LP increased its holdings in Radian Group by 4.0% in the 1st quarter. Dimensional Fund Advisors LP now owns 5,948,335 shares of the insurance provider’s stock worth $196,773,000 after purchasing an additional 230,912 shares in the last quarter. Donald Smith & CO. Inc. acquired a new position in Radian Group in the 2nd quarter worth about $163,104,000. Caisse de depot et placement du Quebec acquired a new position in Radian Group in the 2nd quarter worth about $89,334,000. Finally, Bruni J V & Co. Co. bought a new position in Radian Group in the second quarter valued at about $59,355,376. Institutional investors and hedge funds own 95.33% of the company’s stock.

Radian Group Stock Up 1.8%

Shares of NYSE:RDN opened at $36.18 on Tuesday. The firm has a market cap of $4.79 billion, a P/E ratio of 7.41, a P/E/G ratio of 0.87 and a beta of 0.71. Radian Group Inc. has a 12-month low of $30.53 and a 12-month high of $41.05. The business has a fifty day simple moving average of $34.82 and a 200 day simple moving average of $35.20. The company has a quick ratio of 0.60, a current ratio of 0.60 and a debt-to-equity ratio of 0.14.

Radian Group (NYSE:RDN) last released 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). Radian Group had a net margin of 32.60% and a return on equity of 13.65%. The company had revenue of $574.96 million during the quarter, compared to the consensus estimate of $556.55 million. During the same quarter last year, the firm posted $1.01 EPS. The company’s quarterly revenue was up 92.3% on a year-over-year basis. Analysts predict that Radian Group Inc. will post 4.85 earnings per share for the current year.

Radian Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 9th. Stockholders of record on Monday, August 24th were given a dividend of $0.2550 per share. This represents a $1.02 dividend on an annualized basis and a dividend yield of 2.8%. The ex-dividend date was Monday, August 24th. Radian Group’s dividend payout ratio (DPR) is 26.22%.

Insider Activity at Radian Group

In related news, EVP Meghan Bartholomew sold 7,812 shares of Radian Group stock in a transaction that occurred on Monday, September 14th. The stock was sold at an average price of $35.94, for a total value of $280,763.28. Following the transaction, the executive vice president directly owned 39,203 shares of the company’s stock, valued at $1,408,955.82. The trade was a 16.62% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 2.03% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. Wall Street Zen lowered Radian Group from a “buy” rating to a “hold” rating in a research note on Saturday, October 10th. BTIG Research began coverage on Radian Group in a research note on Tuesday, September 22nd. They issued a “buy” rating and a $48.00 price objective for the company. Keefe, Bruyette & Woods dropped their price objective on shares of Radian Group from $46.00 to $44.00 and set an “outperform” rating for the company in a report on Tuesday, August 11th. Zacks Research upgraded shares of Radian Group from a “strong sell” rating to a “hold” rating in a research report on Tuesday, October 13th. Finally, Barclays lifted their target price on shares of Radian Group from $35.00 to $36.00 and gave the stock an “equal weight” rating in a research report on Monday, October 5th. Six research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $43.14.

About Radian Group

Radian Group Inc (NYSE:RDN) is a financial services company that provides mortgage insurance and related services to the residential real estate industry. Through its mortgage insurance subsidiaries, including Radian Guaranty Inc, the company helps lenders manage credit risk on residential mortgages, particularly loans made to borrowers with smaller down payments. Its insurance can also help borrowers obtain home financing without contributing a traditional 20% down payment.

Radian’s mortgage insurance business serves mortgage lenders, banks, credit unions and other housing finance participants primarily in the United States.