Wells Fargo & Company MN raised its position in Radian Group Inc (NYSE:RDN) by 31.8% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,053,878 shares of the insurance provider’s stock after buying an additional 736,875 shares during the period. Wells Fargo & Company MN owned 1.41% of Radian Group worth $58,145,000 as of its most recent SEC filing.
A number of other large investors have also recently added to or reduced their stakes in RDN. APG Asset Management N.V. boosted its position in Radian Group by 159.3% in the fourth quarter. APG Asset Management N.V. now owns 1,617,100 shares of the insurance provider’s stock valued at $27,755,000 after buying an additional 993,400 shares in the last quarter. Investec Asset Management LTD lifted its position in shares of Radian Group by 23.0% during the fourth quarter. Investec Asset Management LTD now owns 4,362,115 shares of the insurance provider’s stock worth $89,903,000 after purchasing an additional 815,149 shares in the last quarter. Avestar Capital LLC acquired a new position in shares of Radian Group during the fourth quarter worth approximately $12,564,000. Two Sigma Investments LP lifted its position in shares of Radian Group by 474.4% during the fourth quarter. Two Sigma Investments LP now owns 606,116 shares of the insurance provider’s stock worth $12,492,000 after purchasing an additional 500,586 shares in the last quarter. Finally, Two Sigma Advisers LP lifted its position in shares of Radian Group by 703.7% during the fourth quarter. Two Sigma Advisers LP now owns 496,234 shares of the insurance provider’s stock worth $10,227,000 after purchasing an additional 434,487 shares in the last quarter. Hedge funds and other institutional investors own 93.72% of the company’s stock.
In other news, CFO J Franklin Hall bought 5,000 shares of the stock in a transaction on Wednesday, May 2nd. The stock was purchased at an average price of $15.40 per share, with a total value of $77,000.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Richard G. Thornberry bought 20,000 shares of the stock in a transaction on Monday, April 30th. The stock was purchased at an average cost of $14.62 per share, with a total value of $292,400.00. The disclosure for this purchase can be found here. Insiders purchased 49,200 shares of company stock worth $728,822 over the last 90 days. 0.99% of the stock is currently owned by company insiders.
Radian Group (NYSE:RDN) last announced its quarterly earnings data on Thursday, April 26th. The insurance provider reported $0.59 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.57 by $0.02. Radian Group had a net margin of 12.99% and a return on equity of 14.94%. The business had revenue of $291.60 million for the quarter, compared to analyst estimates of $316.47 million. During the same period in the prior year, the business posted $0.37 earnings per share. Radian Group’s revenue was up 1.0% compared to the same quarter last year. research analysts predict that Radian Group Inc will post 2.37 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 4th. Investors of record on Monday, May 21st will be issued a $0.0025 dividend. The ex-dividend date is Friday, May 18th. This represents a $0.01 annualized dividend and a yield of 0.06%. Radian Group’s dividend payout ratio is currently 0.55%.
A number of equities analysts have recently issued reports on RDN shares. ValuEngine upgraded shares of Radian Group from a “buy” rating to a “strong-buy” rating in a research report on Friday, February 2nd. Barclays upped their target price on shares of Radian Group from $29.00 to $31.00 and gave the stock an “overweight” rating in a research report on Friday, February 2nd. Royal Bank of Canada reiterated a “buy” rating on shares of Radian Group in a research report on Friday, February 2nd. Wells Fargo & Co reiterated a “hold” rating on shares of Radian Group in a research report on Tuesday, March 13th. Finally, Macquarie started coverage on shares of Radian Group in a research report on Wednesday, March 14th. They set a “neutral” rating on the stock. Three research analysts have rated the stock with a sell rating, four have issued a hold rating and seven have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $23.63.
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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