Insider Buying: Radian Group (NYSE:RDN) CEO Buys $1,685,422.52 in Stock

Radian Group Inc. (NYSE:RDN) CEO Michael Weinbach bought 49,513 shares of Radian Group stock in a transaction dated Tuesday, June 2nd. The shares were acquired at an average cost of $34.04 per share, with a total value of $1,685,422.52. Following the completion of the purchase, the chief executive officer owned 170,000 shares in the company, valued at approximately $5,786,800. This trade represents a 41.09% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Radian Group Trading Down 0.1%

Shares of RDN stock opened at $33.64 on Friday. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.58 and a quick ratio of 0.58. The company has a market cap of $4.47 billion, a price-to-earnings ratio of 8.29, a PEG ratio of 0.86 and a beta of 0.73. The stock has a 50 day simple moving average of $35.24 and a 200-day simple moving average of $34.68. Radian Group Inc. has a 1-year low of $31.50 and a 1-year high of $38.84.

Radian Group (NYSE:RDN) last announced its earnings results on Thursday, May 7th. The insurance provider reported $1.27 earnings per share for the quarter, topping the consensus estimate of $1.17 by $0.10. Radian Group had a return on equity of 13.57% and a net margin of 40.50%.The business had revenue of $466.34 million during the quarter, compared to the consensus estimate of $377.83 million. During the same period in the prior year, the company posted $0.99 EPS. The business’s quarterly revenue was up 46.6% on a year-over-year basis. On average, equities research analysts expect that Radian Group Inc. will post 5.11 EPS for the current fiscal year.

Radian Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, June 17th. Investors of record on Tuesday, June 2nd will be given a dividend of $0.255 per share. This represents a $1.02 annualized dividend and a dividend yield of 3.0%. The ex-dividend date is Tuesday, June 2nd. Radian Group’s payout ratio is presently 25.12%.

Analyst Upgrades and Downgrades

Several analysts recently commented on the company. Zacks Research cut Radian Group from a “strong-buy” rating to a “hold” rating in a research report on Monday, April 20th. UBS Group dropped their price target on Radian Group from $41.00 to $39.00 and set a “neutral” rating for the company in a research report on Thursday, March 12th. Barclays boosted their price target on Radian Group from $37.00 to $39.00 and gave the stock an “equal weight” rating in a research report on Monday, May 11th. Royal Bank Of Canada assumed coverage on Radian Group in a research report on Friday, May 22nd. They set an “outperform” rating and a $47.00 price target for the company. Finally, Keefe, Bruyette & Woods boosted their price target on Radian Group from $42.00 to $43.00 and gave the stock an “outperform” rating in a research report on Friday, April 10th. Five investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $42.67.

Institutional Trading of Radian Group

Several large investors have recently added to or reduced their stakes in RDN. Norges Bank purchased a new stake in Radian Group in the 4th quarter valued at $77,364,000. Balyasny Asset Management L.P. grew its holdings in Radian Group by 151.7% in the 3rd quarter. Balyasny Asset Management L.P. now owns 1,873,049 shares of the insurance provider’s stock valued at $67,842,000 after buying an additional 1,128,852 shares in the last quarter. Donald Smith & CO. Inc. grew its holdings in Radian Group by 43.7% in the 4th quarter. Donald Smith & CO. Inc. now owns 3,012,255 shares of the insurance provider’s stock valued at $108,411,000 after buying an additional 916,003 shares in the last quarter. Vanguard Group Inc. grew its holdings in Radian Group by 2.7% in the 3rd quarter. Vanguard Group Inc. now owns 16,272,597 shares of the insurance provider’s stock valued at $589,393,000 after buying an additional 427,473 shares in the last quarter. Finally, Millennium Management LLC grew its holdings in Radian Group by 59.7% in the 3rd quarter. Millennium Management LLC now owns 1,007,172 shares of the insurance provider’s stock valued at $36,480,000 after buying an additional 376,533 shares in the last quarter. 95.33% of the stock is currently owned by hedge funds and other institutional investors.

About Radian Group

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.