IndexIQ Advisors LLC lifted its stake in shares of Radian Group Inc. (NYSE:RDN) by 83.1% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 48,260 shares of the insurance provider’s stock after acquiring an additional 21,904 shares during the quarter. IndexIQ Advisors LLC’s holdings in Radian Group were worth $902,000 at the end of the most recent reporting period.
Several other large investors also recently modified their holdings of RDN. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Radian Group by 11.5% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,781 shares of the insurance provider’s stock valued at $127,000 after purchasing an additional 803 shares in the last quarter. Skba Capital Management LLC bought a new position in shares of Radian Group during the second quarter valued at approximately $170,000. Zacks Investment Management bought a new position in shares of Radian Group during the second quarter valued at approximately $175,000. ETRADE Capital Management LLC acquired a new stake in Radian Group in the second quarter valued at approximately $183,000. Finally, Alpine Woods Capital Investors LLC boosted its stake in Radian Group by 9.5% in the second quarter. Alpine Woods Capital Investors LLC now owns 11,510 shares of the insurance provider’s stock valued at $188,000 after acquiring an additional 1,000 shares in the last quarter. 90.30% of the stock is currently owned by institutional investors and hedge funds.
Radian Group Inc. (RDN) opened at $19.67 on Friday. Radian Group Inc. has a twelve month low of $13.62 and a twelve month high of $21.59. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.23 and a quick ratio of 1.21. The stock has a market cap of $4,240.16, a price-to-earnings ratio of 11.44, a PEG ratio of 2.24 and a beta of 1.59.
Radian Group (NYSE:RDN) last issued its earnings results on Thursday, October 26th. The insurance provider reported $0.46 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.42 by $0.04. Radian Group had a net margin of 14.88% and a return on equity of 12.99%. The business had revenue of $312.05 million during the quarter, compared to analysts’ expectations of $321.10 million. During the same quarter in the prior year, the business posted $0.41 EPS. The company’s revenue for the quarter was down 2.8% on a year-over-year basis. sell-side analysts expect that Radian Group Inc. will post 1.76 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 8th. Investors of record on Monday, November 27th will be paid a dividend of $0.002 per share. This represents a $0.01 dividend on an annualized basis and a yield of 0.04%. The ex-dividend date of this dividend is Friday, November 24th. Radian Group’s dividend payout ratio is currently 1.28%.
Radian Group declared that its Board of Directors has initiated a share buyback plan on Wednesday, August 9th that authorizes the company to repurchase $50.00 million in shares. This repurchase authorization authorizes the insurance provider to reacquire up to 1.3% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s leadership believes its stock is undervalued.
In other Radian Group news, SVP Catherine Mary Jackson sold 17,130 shares of the company’s stock in a transaction on Tuesday, August 15th. The shares were sold at an average price of $17.22, for a total transaction of $294,978.60. Following the completion of the transaction, the senior vice president now owns 80,720 shares in the company, valued at approximately $1,389,998.40. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Richard G. Thornberry acquired 5,000 shares of the business’s stock in a transaction on Monday, August 21st. The shares were purchased at an average price of $16.54 per share, with a total value of $82,700.00. Following the transaction, the chief executive officer now owns 20,000 shares in the company, valued at approximately $330,800. The disclosure for this purchase can be found here. 1.06% of the stock is owned by corporate insiders.
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Several equities research analysts have weighed in on the stock. B. Riley restated a “buy” rating on shares of Radian Group in a research note on Monday, November 6th. Deutsche Bank AG cut shares of Radian Group from a “buy” rating to a “hold” rating and set a $23.00 price target for the company. in a report on Friday, November 3rd. BTIG Research reaffirmed a “buy” rating and issued a $22.00 price target on shares of Radian Group in a report on Sunday, October 29th. Compass Point raised shares of Radian Group from a “neutral” rating to a “buy” rating and raised their price target for the stock from $21.75 to $24.75 in a report on Friday, October 27th. Finally, FBR & Co reaffirmed a “buy” rating on shares of Radian Group in a report on Thursday, October 26th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. Radian Group presently has a consensus rating of “Buy” and an average price target of $22.59.
Radian Group Profile
Radian Group Inc is an insurance holding company that provides mortgage insurance, and products and services to the real estate and mortgage finance industries. The Company operates in two segments: Mortgage Insurance and Services. The Mortgage Insurance segment provides credit-related insurance coverage, principally through private mortgage insurance to mortgage lending institutions.
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