Corebridge Financial Inc. Sells 6,347 Shares of Radian Group Inc. (NYSE:RDN)

Corebridge Financial Inc. cut its stake in shares of Radian Group Inc. (NYSE:RDN) by 7.3% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 80,597 shares of the insurance provider’s stock after selling 6,347 shares during the period. Corebridge Financial Inc. owned about 0.05% of Radian Group worth $2,557,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of RDN. Vest Financial LLC increased its holdings in Radian Group by 35.4% in the 4th quarter. Vest Financial LLC now owns 1,092,054 shares of the insurance provider’s stock worth $34,640,000 after purchasing an additional 285,481 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of Radian Group by 4.2% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 6,094,163 shares of the insurance provider’s stock worth $193,307,000 after purchasing an additional 248,423 shares during the last quarter. American Century Companies Inc. increased its stake in shares of Radian Group by 7.9% in the fourth quarter. American Century Companies Inc. now owns 3,351,361 shares of the insurance provider’s stock valued at $106,305,000 after buying an additional 245,303 shares during the period. Barclays PLC raised its holdings in Radian Group by 218.0% in the 3rd quarter. Barclays PLC now owns 284,463 shares of the insurance provider’s stock valued at $9,868,000 after buying an additional 194,996 shares during the last quarter. Finally, Assenagon Asset Management S.A. boosted its position in Radian Group by 23.3% during the 4th quarter. Assenagon Asset Management S.A. now owns 1,020,912 shares of the insurance provider’s stock worth $32,383,000 after buying an additional 192,854 shares during the period. 95.33% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have issued reports on the stock. Keefe, Bruyette & Woods decreased their price target on shares of Radian Group from $41.00 to $40.00 and set an “outperform” rating for the company in a research report on Wednesday, January 8th. UBS Group increased their price objective on Radian Group from $33.00 to $34.00 and gave the company a “neutral” rating in a report on Wednesday, February 19th. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, Radian Group currently has a consensus rating of “Hold” and an average target price of $36.80.

Radian Group Stock Up 0.7 %

Shares of NYSE RDN opened at $33.05 on Tuesday. The company’s 50 day moving average price is $32.71 and its 200-day moving average price is $33.43. The company has a debt-to-equity ratio of 0.50, a quick ratio of 2.01 and a current ratio of 2.87. Radian Group Inc. has a 52-week low of $29.17 and a 52-week high of $37.86. The company has a market capitalization of $4.79 billion, a P/E ratio of 8.41, a price-to-earnings-growth ratio of 1.73 and a beta of 1.04.

Radian Group (NYSE:RDN) last released its earnings results on Wednesday, February 5th. The insurance provider reported $1.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.92 by $0.17. Radian Group had a net margin of 46.85% and a return on equity of 13.96%. Equities analysts forecast that Radian Group Inc. will post 3.79 earnings per share for the current year.

Radian Group Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 11th. Investors of record on Monday, February 24th were given a dividend of $0.255 per share. This is a positive change from Radian Group’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend was Monday, February 24th. This represents a $1.02 annualized dividend and a dividend yield of 3.09%. Radian Group’s dividend payout ratio is presently 25.95%.

Insider Buying and Selling

In other Radian Group news, Director Gregory Serio sold 4,100 shares of the stock in a transaction that occurred on Friday, February 28th. The stock was sold at an average price of $32.65, for a total transaction of $133,865.00. Following the transaction, the director now directly owns 344 shares in the company, valued at approximately $11,231.60. This represents a 92.26 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 2.16% of the stock is currently owned by 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.