Illinois Municipal Retirement Fund Boosts Stake in Radian Group Inc. (NYSE:RDN)

Illinois Municipal Retirement Fund grew its position in shares of Radian Group Inc. (NYSE:RDN) by 3.1% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 94,207 shares of the insurance provider’s stock after acquiring an additional 2,797 shares during the quarter. Illinois Municipal Retirement Fund owned about 0.06% of Radian Group worth $2,690,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. California Public Employees Retirement System raised its holdings in Radian Group by 2.4% in the fourth quarter. California Public Employees Retirement System now owns 334,765 shares of the insurance provider’s stock valued at $9,558,000 after buying an additional 7,725 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd purchased a new position in shares of Radian Group in the 4th quarter valued at $16,918,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Radian Group by 18.1% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 33,363 shares of the insurance provider’s stock worth $953,000 after purchasing an additional 5,120 shares during the period. Louisiana State Employees Retirement System acquired a new stake in Radian Group in the 4th quarter valued at $2,187,000. Finally, Sequoia Financial Advisors LLC purchased a new stake in shares of Radian Group in the fourth quarter worth about $343,000. 95.33% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Separately, Keefe, Bruyette & Woods restated a “market perform” rating and issued a $35.00 target price (down from $36.00) on shares of Radian Group in a research note on Thursday, April 4th. One analyst has rated the stock with a sell rating and five have issued a hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $30.00.

Radian Group Price Performance

Shares of NYSE RDN opened at $30.63 on Thursday. The business has a 50 day moving average price of $30.37 and a two-hundred day moving average price of $28.33. Radian Group Inc. has a fifty-two week low of $22.93 and a fifty-two week high of $33.69. The firm has a market cap of $4.64 billion, a PE ratio of 8.10, a price-to-earnings-growth ratio of 1.87 and a beta of 1.02. The company has a quick ratio of 1.65, a current ratio of 1.65 and a debt-to-equity ratio of 0.35.

Radian Group (NYSE:RDN) last issued its quarterly earnings results on Wednesday, February 7th. The insurance provider reported $0.96 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.86 by $0.10. The business had revenue of $328.64 million during the quarter, compared to analyst estimates of $319.04 million. Radian Group had a net margin of 48.51% and a return on equity of 14.75%. The business’s revenue was up 4.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.05 earnings per share. Sell-side analysts expect that Radian Group Inc. will post 3.27 earnings per share for the current fiscal year.

Radian Group Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 12th. Investors of record on Monday, February 26th were issued a $0.245 dividend. This is a positive change from Radian Group’s previous quarterly dividend of $0.23. This represents a $0.98 annualized dividend and a yield of 3.20%. The ex-dividend date of this dividend was Friday, February 23rd. Radian Group’s payout ratio is currently 25.93%.

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.