Intech Investment Management LLC Cuts Position in Radian Group Inc. $RDN

Intech Investment Management LLC cut its holdings in Radian Group Inc. (NYSE:RDN) by 22.8% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 53,305 shares of the insurance provider’s stock after selling 15,724 shares during the period. Intech Investment Management LLC’s holdings in Radian Group were worth $1,931,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also bought and sold shares of the company. Bessemer Group Inc. grew its stake in Radian Group by 66.7% in the 3rd quarter. Bessemer Group Inc. now owns 795 shares of the insurance provider’s stock valued at $29,000 after purchasing an additional 318 shares during the period. Financial Consulate Inc. purchased a new position in shares of Radian Group in the 3rd quarter worth about $29,000. Geneos Wealth Management Inc. grew its position in Radian Group by 191.3% during the first quarter. Geneos Wealth Management Inc. now owns 871 shares of the insurance provider’s stock valued at $29,000 after buying an additional 572 shares during the period. Salomon & Ludwin LLC purchased a new stake in Radian Group during the third quarter worth about $33,000. Finally, Hantz Financial Services Inc. increased its holdings in Radian Group by 178.2% during the third quarter. Hantz Financial Services Inc. now owns 1,224 shares of the insurance provider’s stock worth $44,000 after buying an additional 784 shares during the last quarter. 95.33% of the stock is currently owned by institutional investors.

Radian Group Trading Up 0.7%

NYSE RDN opened at $34.69 on Thursday. The company has a current ratio of 3.40, a quick ratio of 3.40 and a debt-to-equity ratio of 0.23. The stock has a 50-day moving average of $34.08 and a 200-day moving average of $34.69. The firm has a market cap of $4.73 billion, a PE ratio of 8.36, a price-to-earnings-growth ratio of 1.86 and a beta of 0.80. Radian Group Inc. has a 1-year low of $29.32 and a 1-year high of $38.84.

Radian Group (NYSE:RDN) last released its quarterly earnings data on Wednesday, February 18th. The insurance provider reported $1.16 earnings per share for the quarter, beating analysts’ consensus estimates of $1.11 by $0.05. Radian Group had a return on equity of 13.07% and a net margin of 46.99%.The firm had revenue of $300.51 million during the quarter, compared to analyst estimates of $300.45 million. During the same quarter in the prior year, the firm posted $1.09 earnings per share. The business’s quarterly revenue was up 2.7% compared to the same quarter last year. As a group, sell-side analysts forecast that Radian Group Inc. will post 3.79 EPS for the current year.

Radian Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 10th. Shareholders of record on Monday, February 23rd will be issued a $0.255 dividend. This represents a $1.02 dividend on an annualized basis and a yield of 2.9%. The ex-dividend date of this dividend is Monday, February 23rd. Radian Group’s dividend payout ratio (DPR) is 24.58%.

Analyst Upgrades and Downgrades

RDN has been the topic of a number of research analyst reports. Zacks Research upgraded shares of Radian Group from a “hold” rating to a “strong-buy” rating in a research note on Friday, February 20th. Weiss Ratings downgraded Radian Group from a “buy (a-)” rating to a “buy (b+)” rating in a research note on Tuesday, January 13th. Barclays set a $40.00 price objective on Radian Group in a report on Monday, February 23rd. Keefe, Bruyette & Woods raised shares of Radian Group from a “market perform” rating to an “outperform” rating and boosted their target price for the company from $41.00 to $42.00 in a report on Wednesday, February 11th. Finally, Roth Mkm reissued a “buy” rating and issued a $45.00 price target on shares of Radian Group in a report on Friday, January 2nd. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $40.80.

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.