Norges Bank Makes New $73.69 Million Investment in Radian Group Inc. (NYSE:RDN)

Norges Bank purchased a new stake in shares of Radian Group Inc. (NYSE:RDN) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 2,323,236 shares of the insurance provider’s stock, valued at approximately $73,693,000.

Other institutional investors and hedge funds have also modified their holdings of the company. State Street Corp raised its holdings in Radian Group by 2.7% during the third quarter. State Street Corp now owns 6,700,279 shares of the insurance provider’s stock valued at $232,433,000 after buying an additional 177,142 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of Radian Group by 4.2% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 6,094,163 shares of the insurance provider’s stock valued at $193,307,000 after acquiring an additional 248,423 shares in the last quarter. FMR LLC lifted its holdings in Radian Group by 0.4% in the 3rd quarter. FMR LLC now owns 3,588,237 shares of the insurance provider’s stock worth $124,476,000 after purchasing an additional 12,834 shares during the last quarter. American Century Companies Inc. boosted its position in Radian Group by 7.9% during the fourth quarter. American Century Companies Inc. now owns 3,351,361 shares of the insurance provider’s stock worth $106,305,000 after purchasing an additional 245,303 shares during the period. Finally, River Road Asset Management LLC grew its holdings in Radian Group by 0.3% during the fourth quarter. River Road Asset Management LLC now owns 1,644,386 shares of the insurance provider’s stock valued at $52,160,000 after purchasing an additional 5,524 shares during the last quarter. Institutional investors and hedge funds own 95.33% of the company’s stock.

Radian Group Price Performance

NYSE:RDN opened at $34.21 on Thursday. The company has a debt-to-equity ratio of 0.50, a current ratio of 2.87 and a quick ratio of 2.01. Radian Group Inc. has a one year low of $29.17 and a one year high of $37.86. The company has a fifty day moving average price of $32.74 and a 200 day moving average price of $33.42. The stock has a market cap of $4.96 billion, a P/E ratio of 8.70, a PEG ratio of 1.73 and a beta of 1.04.

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

Radian Group Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 11th. Shareholders of record on Monday, February 24th were given a $0.255 dividend. The ex-dividend date was Monday, February 24th. This represents a $1.02 dividend on an annualized basis and a dividend yield of 2.98%. This is an increase from Radian Group’s previous quarterly dividend of $0.25. Radian Group’s dividend payout ratio (DPR) is currently 25.95%.

Insider Transactions at Radian Group

In related news, Director Gregory Serio sold 4,100 shares of the firm’s stock in a transaction on Friday, February 28th. The stock was sold at an average price of $32.65, for a total value of $133,865.00. Following the completion of the transaction, the director now directly owns 344 shares of the company’s stock, valued at $11,231.60. This trade represents a 92.26 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 2.16% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. UBS Group boosted their price objective on shares of Radian Group from $33.00 to $34.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 19th. 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 report on Wednesday, January 8th. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $36.80.

About Radian Group

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.