Dynamic Technology Lab Private Ltd decreased its stake in shares of Radian Group Inc (NYSE:RDN) by 58.6% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 28,962 shares of the insurance provider’s stock after selling 40,959 shares during the quarter. Dynamic Technology Lab Private Ltd’s holdings in Radian Group were worth $470,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Canada Pension Plan Investment Board raised its holdings in shares of Radian Group by 94.1% in the 2nd quarter. Canada Pension Plan Investment Board now owns 5,056,400 shares of the insurance provider’s stock valued at $82,015,000 after purchasing an additional 2,451,300 shares in the last quarter. Segall Bryant & Hamill LLC bought a new stake in shares of Radian Group in the 2nd quarter valued at about $18,839,000. Wells Fargo & Company MN raised its holdings in shares of Radian Group by 31.8% in the 1st quarter. Wells Fargo & Company MN now owns 3,053,878 shares of the insurance provider’s stock valued at $58,145,000 after purchasing an additional 736,875 shares in the last quarter. Russell Investments Group Ltd. raised its holdings in shares of Radian Group by 183.5% in the 1st quarter. Russell Investments Group Ltd. now owns 843,070 shares of the insurance provider’s stock valued at $16,051,000 after purchasing an additional 545,639 shares in the last quarter. Finally, BlackRock Inc. raised its holdings in shares of Radian Group by 3.7% in the 2nd quarter. BlackRock Inc. now owns 15,049,243 shares of the insurance provider’s stock valued at $244,099,000 after purchasing an additional 534,225 shares in the last quarter. Institutional investors own 92.60% of the company’s stock.
NYSE RDN opened at $20.28 on Tuesday. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.48 and a quick ratio of 1.48. The company has a market cap of $4.37 billion, a P/E ratio of 11.14, a PEG ratio of 1.62 and a beta of 1.49. Radian Group Inc has a 52 week low of $14.06 and a 52 week high of $23.49.
Radian Group (NYSE:RDN) last posted its quarterly earnings data on Thursday, July 26th. The insurance provider reported $0.69 EPS for the quarter, topping the consensus estimate of $0.60 by $0.09. The firm had revenue of $319.30 million during the quarter, compared to analyst estimates of $320.34 million. Radian Group had a net margin of 31.87% and a return on equity of 16.10%. Radian Group’s revenue was up 5.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.48 EPS. research analysts forecast that Radian Group Inc will post 2.54 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, September 7th. Investors of record on Monday, August 27th were paid a dividend of $0.0025 per share. The ex-dividend date was Friday, August 24th. This represents a $0.01 annualized dividend and a dividend yield of 0.05%. Radian Group’s dividend payout ratio (DPR) is presently 0.55%.
Radian Group declared that its board has approved a stock repurchase program on Thursday, August 16th that permits the company to buyback $100.00 million in shares. This buyback authorization permits the insurance provider to reacquire up to 2.4% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s leadership believes its stock is undervalued.
RDN has been the subject of several recent research reports. Bank of America boosted their price target on shares of Radian Group from $13.00 to $23.00 and gave the company a “buy” rating in a report on Monday, August 13th. ValuEngine lowered shares of Radian Group from a “hold” rating to a “sell” rating in a report on Monday, June 4th. Zacks Investment Research lowered shares of Radian Group from a “hold” rating to a “sell” rating in a report on Wednesday, June 27th. Royal Bank of Canada restated a “hold” rating and issued a $21.00 price target on shares of Radian Group in a report on Friday, July 27th. Finally, MKM Partners reduced their price target on shares of Radian Group from $27.00 to $20.00 and set a “buy” rating for the company in a report on Tuesday, June 5th. Five equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $23.11.
Radian Group Profile
Radian Group Inc, through its subsidiaries, provides mortgage and real estate products and services in the United States. It operates through two segments, Mortgage Insurance and Services. The Mortgage Insurance segment offers credit-related insurance coverage, primarily through private mortgage insurance, as well as other credit risk management solutions to mortgage lending institutions; and primary mortgage insurance coverage on residential first-lien mortgage loans.
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