Westport Asset Management Inc. Acquires Shares of 130,371 Radian Group Inc. $RDN

Westport Asset Management Inc. acquired a new position in shares of Radian Group Inc. (NYSE:RDN) in the second quarter, Holdings Channel reports. The fund acquired 130,371 shares of the insurance provider’s stock, valued at approximately $4,911,000. Radian Group comprises 2.0% of Westport Asset Management Inc.’s investment portfolio, making the stock its 16th largest position.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Jones Financial Companies Lllp raised its stake in shares of Radian Group by 14.8% during the first quarter. Jones Financial Companies Lllp now owns 2,764 shares of the insurance provider’s stock worth $91,000 after purchasing an additional 357 shares during the last quarter. Geneos Wealth Management Inc. lifted its holdings in shares of Radian Group by 191.3% during the first quarter. Geneos Wealth Management Inc. now owns 871 shares of the insurance provider’s stock worth $29,000 after purchasing an additional 572 shares during the period. EverSource Wealth Advisors LLC grew its position in Radian Group by 94.0% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,860 shares of the insurance provider’s stock valued at $67,000 after buying an additional 901 shares during the last quarter. Walleye Capital LLC purchased a new position in Radian Group in the 2nd quarter valued at $239,000. Finally, Marshall Wace LLP acquired a new position in Radian Group in the 2nd quarter valued at $452,000. 95.33% of the stock is currently owned by hedge funds and other institutional investors.

Radian Group Trading Down 1.2%

Shares of RDN stock opened at $36.40 on Thursday. The business’s fifty day moving average price is $37.36 and its 200 day moving average price is $35.48. Radian Group Inc. has a 1-year low of $31.50 and a 1-year high of $41.05. The firm has a market capitalization of $4.82 billion, a PE ratio of 9.36, a P/E/G ratio of 0.89 and a beta of 0.72. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.60 and a quick ratio of 0.60.

Radian Group (NYSE:RDN) last released its quarterly earnings data on Thursday, August 6th. The insurance provider reported $1.14 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.34 by ($0.20). Radian Group had a return on equity of 13.65% and a net margin of 32.60%.The business had revenue of $574.96 million during the quarter, compared to analysts’ expectations of $556.55 million. During the same quarter in the previous year, the company posted $1.01 EPS. The company’s revenue was up 92.3% compared to the same quarter last year. As a group, sell-side analysts forecast that Radian Group Inc. will post 4.86 EPS for the current fiscal year.

Radian Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 9th. Investors of record on Monday, August 24th will be paid a $0.255 dividend. The ex-dividend date is Monday, August 24th. This represents a $1.02 annualized dividend and a dividend yield of 2.8%. Radian Group’s dividend payout ratio (DPR) is 26.22%.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. Barclays cut their price objective on shares of Radian Group from $39.00 to $35.00 and set an “equal weight” rating for the company in a research report on Monday, August 10th. Royal Bank Of Canada started coverage on shares of Radian Group in a research note on Friday, May 22nd. They set an “outperform” rating and a $47.00 price target on the stock. Keefe, Bruyette & Woods dropped their price target on shares of Radian Group from $46.00 to $44.00 and set an “outperform” rating on the stock in a research note on Tuesday, August 11th. Wall Street Zen cut shares of Radian Group from a “buy” rating to a “hold” rating in a report on Sunday, August 9th. Finally, Weiss Ratings upgraded shares of Radian Group from a “buy (b)” rating to a “buy (b+)” rating in a research report on Tuesday, August 11th. Five investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, Radian Group currently has a consensus rating of “Moderate Buy” and a consensus price target of $42.17.

Insider Activity at Radian Group

In related news, Director Margaret Anne Leyden sold 2,070 shares of the business’s stock in a transaction dated Friday, May 29th. The shares were sold at an average price of $34.59, for a total transaction of $71,601.30. Following the sale, the director owned 6,864 shares of the company’s stock, valued at approximately $237,425.76. The trade was a 23.17% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Michael S. Weinbach bought 49,513 shares of the company’s stock in a transaction on Tuesday, June 2nd. The stock was bought at an average cost of $34.04 per share, with a total value of $1,685,422.52. Following the completion of the acquisition, the chief executive officer owned 170,000 shares of the company’s stock, valued at $5,786,800. This represents a 41.09% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders have sold 15,517 shares of company stock worth $557,610 over the last three months. 2.03% of the stock is currently owned by company insiders.

Radian Group 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.