Arrowstreet Capital Limited Partnership Cuts Stock Holdings in Radian Group Inc. $RDN

Arrowstreet Capital Limited Partnership lessened its stake in Radian Group Inc. (NYSE:RDN) by 31.4% during the second quarter, Holdings Channel reports. The firm owned 367,401 shares of the insurance provider’s stock after selling 168,281 shares during the period. Arrowstreet Capital Limited Partnership’s holdings in Radian Group were worth $13,234,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in RDN. Geneos Wealth Management Inc. raised its position in shares of Radian Group by 191.3% in the 1st quarter. Geneos Wealth Management Inc. now owns 871 shares of the insurance provider’s stock worth $29,000 after buying an additional 572 shares during the period. Covestor Ltd raised its holdings in shares of Radian Group by 42.6% in the 1st quarter. Covestor Ltd now owns 1,927 shares of the insurance provider’s stock worth $64,000 after purchasing an additional 576 shares during the period. Allworth Financial LP lifted its stake in shares of Radian Group by 1,049.7% in the 2nd quarter. Allworth Financial LP now owns 1,897 shares of the insurance provider’s stock valued at $68,000 after purchasing an additional 1,732 shares in the last quarter. Virtus Advisers LLC purchased a new stake in shares of Radian Group during the 1st quarter worth about $88,000. Finally, Jones Financial Companies Lllp increased its position in Radian Group by 14.8% during the 1st quarter. Jones Financial Companies Lllp now owns 2,764 shares of the insurance provider’s stock worth $91,000 after purchasing an additional 357 shares in the last quarter. 95.33% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. Barclays lifted their price target on shares of Radian Group from $35.00 to $37.00 and gave the company a “cautious” rating in a research report on Monday, October 6th. Weiss Ratings restated a “buy (a-)” rating on shares of Radian Group in a report on Monday, December 1st. Zacks Research raised shares of Radian Group from a “hold” rating to a “strong-buy” rating in a research report on Monday, September 22nd. Finally, UBS Group cut their price objective on Radian Group from $43.00 to $40.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 15th. Two investment analysts have rated the stock with a Strong Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $38.00.

Radian Group Price Performance

Shares of NYSE RDN opened at $34.42 on Tuesday. The company has a quick ratio of 1.67, a current ratio of 1.67 and a debt-to-equity ratio of 0.24. Radian Group Inc. has a fifty-two week low of $29.32 and a fifty-two week high of $38.84. The business has a 50 day moving average price of $34.53 and a two-hundred day moving average price of $34.64. The firm has a market cap of $4.66 billion, a PE ratio of 8.58 and a beta of 0.83.

Radian Group (NYSE:RDN) last released its quarterly earnings results on Wednesday, November 5th. The insurance provider reported $1.15 earnings per share for the quarter, topping analysts’ consensus estimates of $0.95 by $0.20. The business had revenue of $303.19 million during the quarter, compared to the consensus estimate of $308.77 million. Radian Group had a net margin of 45.90% and a return on equity of 13.29%. The business’s quarterly revenue was down 3.3% compared to the same quarter last year. During the same quarter last year, the company earned $1.03 earnings per share. Sell-side analysts expect that Radian Group Inc. will post 3.79 earnings per share for the current fiscal year.

Radian Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 9th. Stockholders of record on Monday, November 24th will be given a dividend of $0.255 per share. The ex-dividend date of this dividend is Monday, November 24th. This represents a $1.02 annualized dividend and a dividend yield of 3.0%. Radian Group’s dividend payout ratio (DPR) is presently 25.44%.

Insider Activity

In related news, EVP Edward J. Hoffman sold 10,000 shares of Radian Group stock in a transaction dated Thursday, September 18th. The stock was sold at an average price of $37.00, for a total value of $370,000.00. Following the completion of the transaction, the executive vice president directly owned 153,708 shares in the company, valued at approximately $5,687,196. This trade represents a 6.11% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Eric Ray sold 13,957 shares of the company’s stock in a transaction that occurred on Tuesday, December 2nd. The shares were sold at an average price of $35.60, for a total value of $496,869.20. The SEC filing for this sale provides additional information. Company insiders own 2.16% of the company’s stock.

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.