Great Lakes Advisors LLC Invests $6.92 Million in Radian Group Inc. $RDN

Great Lakes Advisors LLC purchased a new stake in Radian Group Inc. (NYSE:RDN) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 183,613 shares of the insurance provider’s stock, valued at approximately $6,917,000. Great Lakes Advisors LLC owned about 0.14% of Radian Group as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Danske Bank A S purchased a new stake in Radian Group in the 2nd quarter worth approximately $11,998,000. BlackRock Inc. acquired a new stake in shares of Radian Group during the 2nd quarter worth approximately $728,072,000. Deutsche Bank AG purchased a new position in shares of Radian Group during the 2nd quarter valued at approximately $13,071,000. Global Retirement Partners LLC purchased a new position in shares of Radian Group during the 2nd quarter valued at approximately $37,000. Finally, Bank of New York Mellon Corp purchased a new position in shares of Radian Group during the 2nd quarter valued at approximately $42,769,000. 95.33% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, Chairman Howard Bernard Culang sold 5,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $36.20, for a total value of $181,000.00. Following the transaction, the chairman directly owned 11,662 shares in the company, valued at approximately $422,164.40. This represents a 30.01% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Michael S. Weinbach bought 120,487 shares of the firm’s stock in a transaction that occurred on Monday, June 1st. The shares were purchased at an average cost of $33.89 per share, for a total transaction of $4,083,304.43. Following the purchase, the chief executive officer owned 120,487 shares in the company, valued at $4,083,304.43. This represents a ∞ increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. In the last quarter, insiders have sold 15,517 shares of company stock valued at $557,610. 2.03% of the stock is owned by company insiders.

Radian Group Price Performance

Shares of NYSE RDN opened at $36.40 on Thursday. The firm has a 50-day simple moving average of $37.36 and a 200-day simple moving average of $35.48. The stock has a market capitalization of $4.82 billion, a price-to-earnings ratio of 9.36, a price-to-earnings-growth ratio of 0.89 and a beta of 0.72. The company has a quick ratio of 0.60, a current ratio of 0.60 and a debt-to-equity ratio of 0.14. Radian Group Inc. has a 52 week low of $31.50 and a 52 week high of $41.05.

Radian Group (NYSE:RDN) last announced 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). The business had revenue of $574.96 million for the quarter, compared to analysts’ expectations of $556.55 million. Radian Group had a net margin of 32.60% and a return on equity of 13.65%. The firm’s revenue was up 92.3% on a year-over-year basis. During the same period in the prior year, the company posted $1.01 EPS. On average, equities analysts predict that Radian Group Inc. will post 4.86 earnings per share for the current fiscal year.

Radian Group Dividend Announcement

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

Analyst Ratings Changes

RDN has been the subject of a number of analyst reports. Bank of America upgraded shares of Radian Group from an “underperform” rating to a “buy” rating and upped their price objective for the stock from $35.00 to $43.00 in a research report on Wednesday, April 29th. Royal Bank Of Canada started coverage on Radian Group in a research report on Friday, May 22nd. They set an “outperform” rating and a $47.00 target price on the stock. Barclays cut their price target on Radian Group from $39.00 to $35.00 and set an “equal weight” rating for the company in a research note on Monday, August 10th. Wall Street Zen cut Radian Group from a “buy” rating to a “hold” rating in a report on Sunday, August 9th. Finally, Weiss Ratings raised Radian Group from a “buy (b)” rating to a “buy (b+)” rating in a report on Tuesday, August 11th. Five equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $42.17.

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.