Public Sector Pension Investment Board Has $21.40 Million Stock Position in Radian Group Inc. $RDN

Public Sector Pension Investment Board boosted its stake in shares of Radian Group Inc. (NYSE:RDN) by 12.2% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 590,724 shares of the insurance provider’s stock after buying an additional 64,205 shares during the period. Public Sector Pension Investment Board owned about 0.44% of Radian Group worth $21,396,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the company. Summit Global Investments acquired a new stake in shares of Radian Group during the 3rd quarter valued at about $1,213,000. Capital Fund Management S.A. bought a new position in Radian Group during the second quarter valued at approximately $3,470,000. Campbell & CO Investment Adviser LLC raised its position in Radian Group by 187.3% during the third quarter. Campbell & CO Investment Adviser LLC now owns 47,337 shares of the insurance provider’s stock valued at $1,715,000 after acquiring an additional 30,862 shares in the last quarter. Norges Bank acquired a new stake in Radian Group in the second quarter valued at approximately $85,785,000. Finally, Alps Advisors Inc. grew its position in Radian Group by 57.3% in the third quarter. Alps Advisors Inc. now owns 571,588 shares of the insurance provider’s stock worth $20,703,000 after acquiring an additional 208,181 shares in the last quarter. 95.33% of the stock is owned by hedge funds and other institutional investors.

Radian Group Trading Down 4.3%

Radian Group stock opened at $32.83 on Friday. Radian Group Inc. has a 52 week low of $29.32 and a 52 week high of $38.84. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.67 and a current ratio of 1.67. The firm has a market capitalization of $4.45 billion, a PE ratio of 8.19 and a beta of 0.81. The business’s 50-day simple moving average is $34.62 and its 200-day simple moving average is $34.67.

Radian Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 10th. Stockholders of record on Monday, February 23rd will be given a $0.255 dividend. This represents a $1.02 annualized dividend and a dividend yield of 3.1%. The ex-dividend date of this dividend is Monday, February 23rd. Radian Group’s dividend payout ratio is currently 25.44%.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on RDN shares. Weiss Ratings downgraded shares of Radian Group from a “buy (a-)” rating to a “buy (b+)” rating in a report on Tuesday, January 13th. Keefe, Bruyette & Woods raised shares of Radian Group from a “market perform” rating to an “outperform” rating and increased their target price for the stock from $41.00 to $42.00 in a research report on Wednesday. Roth Mkm restated a “buy” rating and set a $45.00 target price on shares of Radian Group in a report on Friday, January 2nd. Finally, Zacks Research downgraded Radian Group from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, January 6th. Three investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $40.20.

Insider Activity

In related news, EVP Eric Ray sold 13,957 shares of the business’s stock in a transaction on Tuesday, December 2nd. The shares were sold at an average price of $35.60, for a total transaction of $496,869.20. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 2.01% of the company’s stock.

Radian Group Company Profile

Radian Group Inc (NYSE:RDN) is a leading provider of private mortgage insurance and related risk management solutions in the United States. Through its primary subsidiary, Radian Guaranty Inc, the company underwrites borrower-paid and lender-paid mortgage insurance that protects lenders and investors from potential losses arising from borrower defaults. Radian’s core business focuses on supporting residential mortgage originations and servicing by offering capital-efficient credit protection and credit risk transfer strategies.

Beyond mortgage insurance, Radian offers an array of real estate transaction services under its Radian Title division.