Covestor Ltd Cuts Position in Radian Group Inc. (NYSE:RDN)

Covestor Ltd lessened its holdings in Radian Group Inc. (NYSE:RDN) by 42.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 996 shares of the insurance provider’s stock after selling 735 shares during the period. Covestor Ltd’s holdings in Radian Group were worth $35,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently bought and sold shares of the company. Vanguard Group Inc. boosted its holdings in shares of Radian Group by 0.3% during the 1st quarter. Vanguard Group Inc. now owns 20,439,073 shares of the insurance provider’s stock worth $684,096,000 after purchasing an additional 69,383 shares during the last quarter. Acadian Asset Management LLC acquired a new stake in shares of Radian Group during the first quarter worth about $1,442,000. Mitsubishi UFJ Trust & Banking Corp boosted its stake in shares of Radian Group by 17.7% during the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 46,407 shares of the insurance provider’s stock worth $1,524,000 after buying an additional 6,967 shares during the period. Public Sector Pension Investment Board boosted its stake in shares of Radian Group by 5.5% during the second quarter. Public Sector Pension Investment Board now owns 331,341 shares of the insurance provider’s stock worth $10,305,000 after buying an additional 17,367 shares during the period. Finally, Vest Financial LLC boosted its holdings in Radian Group by 27.4% in the 2nd quarter. Vest Financial LLC now owns 746,664 shares of the insurance provider’s stock valued at $23,221,000 after purchasing an additional 160,778 shares in the last quarter. 95.33% of the stock is currently owned by hedge funds and other institutional investors.

Radian Group Stock Performance

NYSE:RDN opened at $34.63 on Friday. The company has a debt-to-equity ratio of 0.42, a current ratio of 2.01 and a quick ratio of 2.01. The firm has a 50-day moving average of $34.48 and a two-hundred day moving average of $33.41. The stock has a market cap of $5.16 billion, a P/E ratio of 8.97, a PEG ratio of 1.73 and a beta of 1.04. Radian Group Inc. has a 1-year low of $24.92 and a 1-year high of $37.86.

Radian Group (NYSE:RDN) last issued its earnings results on Wednesday, November 6th. The insurance provider reported $1.03 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.88 by $0.15. The business had revenue of $319.05 million for the quarter, compared to analyst estimates of $320.30 million. Radian Group had a net margin of 45.96% and a return on equity of 13.81%. On average, research analysts expect that Radian Group Inc. will post 4 earnings per share for the current fiscal year.

Radian Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Monday, November 25th will be paid a dividend of $0.245 per share. The ex-dividend date of this dividend is Monday, November 25th. This represents a $0.98 annualized dividend and a yield of 2.83%. Radian Group’s dividend payout ratio (DPR) is 25.39%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on RDN shares. Royal Bank of Canada lifted their price target on shares of Radian Group from $32.00 to $37.00 and gave the company a “sector perform” rating in a research report on Friday, August 2nd. Roth Mkm lifted their price objective on Radian Group from $35.00 to $40.00 and gave the stock a “buy” rating in a research report on Friday, August 2nd. Barclays boosted their price target on Radian Group from $32.00 to $33.00 and gave the company an “equal weight” rating in a report on Tuesday, October 8th. Finally, Keefe, Bruyette & Woods boosted their price objective on shares of Radian Group from $36.00 to $39.00 and gave the company an “outperform” rating in a research note on Monday, August 5th. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $36.10.

Insider Buying and Selling

In related news, EVP Eric Ray sold 53,791 shares of the firm’s stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $35.67, for a total transaction of $1,918,724.97. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Robert Quigley sold 7,500 shares of the firm’s stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $35.65, for a total transaction of $267,375.00. Following the sale, the chief accounting officer now owns 48,392 shares of the company’s stock, valued at $1,725,174.80. The trade was a 13.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 115,955 shares of company stock worth $4,130,140 over the last quarter. 2.16% of the stock is owned by company insiders.

Radian Group Company Profile

Radian Group Inc, together with its subsidiaries, engages in the mortgage and real estate services business in the United States. It operates through two segments, Mortgage Insurance and Homegenius segments. The Mortgage Insurance segment aggregates, manages, and distributes U.S. mortgage credit risk for mortgage lending institutions and mortgage credit investors, through private mortgage insurance on residential first-lien mortgage loans; and other credit risk management solutions, including contract underwriting.