Citigroup Inc. Sells 30,854 Shares of Radian Group Inc. (NYSE:RDN)

Citigroup Inc. lessened its holdings in Radian Group Inc. (NYSE:RDN) by 13.2% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 203,641 shares of the insurance provider’s stock after selling 30,854 shares during the quarter. Citigroup Inc.’s holdings in Radian Group were worth $7,064,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of RDN. Price T Rowe Associates Inc. MD grew its holdings in shares of Radian Group by 4.7% in the first quarter. Price T Rowe Associates Inc. MD now owns 116,282 shares of the insurance provider’s stock worth $3,893,000 after purchasing an additional 5,195 shares during the last quarter. Public Employees Retirement System of Ohio bought a new position in Radian Group in the 1st quarter worth about $105,000. Tidal Investments LLC increased its position in shares of Radian Group by 5.2% during the first quarter. Tidal Investments LLC now owns 9,516 shares of the insurance provider’s stock worth $319,000 after acquiring an additional 474 shares during the period. DekaBank Deutsche Girozentrale raised its stake in shares of Radian Group by 6.6% during the first quarter. DekaBank Deutsche Girozentrale now owns 165,177 shares of the insurance provider’s stock valued at $5,353,000 after acquiring an additional 10,219 shares in the last quarter. Finally, GAMMA Investing LLC raised its stake in shares of Radian Group by 18.8% during the second quarter. GAMMA Investing LLC now owns 4,511 shares of the insurance provider’s stock valued at $140,000 after acquiring an additional 714 shares in the last quarter. Hedge funds and other institutional investors own 95.33% of the company’s stock.

Insider Buying and Selling at Radian Group

In related news, insider Derek Brummer sold 35,153 shares of the stock in a transaction that occurred on Thursday, September 5th. The shares were sold at an average price of $35.36, for a total transaction of $1,243,010.08. Following the completion of the sale, the insider now owns 186,535 shares of the company’s stock, valued at $6,595,877.60. This represents a 15.86 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 2.16% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently issued reports on RDN shares. Barclays increased their price objective on Radian Group from $32.00 to $33.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 8th. Keefe, Bruyette & Woods raised their price target on 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 given a buy rating to the company’s stock. According to data from MarketBeat.com, Radian Group has an average rating of “Hold” and a consensus price target of $36.10.

Radian Group Stock Performance

Shares of RDN stock opened at $35.79 on Friday. The firm has a market cap of $5.33 billion, a price-to-earnings ratio of 9.27, a PEG ratio of 1.78 and a beta of 1.04. Radian Group Inc. has a 52-week low of $24.92 and a 52-week high of $37.86. The company has a quick ratio of 2.01, a current ratio of 2.01 and a debt-to-equity ratio of 0.42. The company’s 50 day moving average is $34.45 and its 200 day moving average is $33.67.

Radian Group (NYSE:RDN) last announced its quarterly 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 the consensus estimate of $320.30 million. Radian Group had a return on equity of 13.81% and a net margin of 45.96%. On average, sell-side analysts anticipate that Radian Group Inc. will post 4 EPS for the current fiscal year.

Radian Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Monday, November 25th will be issued a $0.245 dividend. The ex-dividend date is Monday, November 25th. This represents a $0.98 dividend on an annualized basis and a yield of 2.74%. Radian Group’s dividend payout ratio is presently 25.39%.

Radian Group 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.