Connor Clark & Lunn Investment Management Ltd. Invests $3.51 Million in Radian Group Inc. $RDN

Connor Clark & Lunn Investment Management Ltd. purchased a new position in Radian Group Inc. (NYSE:RDN) during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 97,445 shares of the insurance provider’s stock, valued at approximately $3,510,000. Connor Clark & Lunn Investment Management Ltd. owned approximately 0.07% of Radian Group at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of RDN. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in shares of Radian Group during the 2nd quarter worth about $69,714,000. Jane Street Group LLC raised its position in Radian Group by 11,446.4% during the first quarter. Jane Street Group LLC now owns 1,310,517 shares of the insurance provider’s stock valued at $43,339,000 after acquiring an additional 1,299,167 shares in the last quarter. Nuveen LLC acquired a new stake in Radian Group in the first quarter valued at approximately $40,749,000. Millennium Management LLC bought a new stake in Radian Group in the first quarter worth approximately $27,282,000. Finally, Deutsche Bank AG increased its stake in shares of Radian Group by 161.9% during the 1st quarter. Deutsche Bank AG now owns 553,737 shares of the insurance provider’s stock worth $18,312,000 after purchasing an additional 342,330 shares during the last quarter. 95.33% of the stock is owned by hedge funds and other institutional investors.

Radian Group Trading Up 0.1%

Shares of Radian Group stock opened at $35.28 on Friday. Radian Group Inc. has a 1 year low of $29.32 and a 1 year high of $38.84. The company’s fifty day simple moving average is $34.77 and its 200-day simple moving average is $34.47. The company has a market cap of $4.78 billion, a price-to-earnings ratio of 8.89 and a beta of 0.81. The company has a current ratio of 1.68, a quick ratio of 1.68 and a debt-to-equity ratio of 0.54.

Radian Group (NYSE:RDN) last released its earnings results on Wednesday, November 5th. The insurance provider reported $1.15 EPS for the quarter, beating the consensus estimate of $0.95 by $0.20. The firm had revenue of $303.19 million during the quarter, compared to analysts’ expectations of $308.77 million. Radian Group had a net margin of 45.62% and a return on equity of 13.25%. The business’s quarterly revenue was down 3.3% compared to the same quarter last year. During the same period in the prior year, the company earned $1.03 EPS. As a group, sell-side analysts expect that Radian Group Inc. will post 3.79 EPS for the current year.

Radian Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 9th. Investors of record on Monday, November 24th will be given a dividend of $0.255 per share. The ex-dividend date of this dividend is Monday, November 24th. This represents a $1.02 dividend on an annualized basis and a yield of 2.9%. Radian Group’s dividend payout ratio (DPR) is 25.44%.

Wall Street Analysts Forecast Growth

RDN has been the subject of a number of recent research reports. Weiss Ratings cut shares of Radian Group from a “buy (a-)” rating to a “buy (b)” rating in a report on Saturday, October 25th. Barclays boosted their price target on Radian Group from $35.00 to $37.00 and gave the stock a “cautious” rating in a research report on Monday, October 6th. Zacks Research raised Radian Group from a “hold” rating to a “strong-buy” rating in a report on Monday, September 22nd. Finally, UBS Group reduced their target price on Radian Group from $43.00 to $40.00 and set a “neutral” rating for the company in a report on Wednesday, October 15th. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $38.00.

Insider Transactions at Radian Group

In other Radian Group news, EVP Edward J. Hoffman sold 10,000 shares of the company’s stock in a transaction that occurred on Thursday, September 18th. The stock was sold at an average price of $37.00, for a total value of $370,000.00. Following the completion of the transaction, the executive vice president owned 153,708 shares of the company’s stock, valued at $5,687,196. This represents a 6.11% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 2.01% of the stock is owned by corporate insiders.

Radian Group Profile

Radian Group Inc, together with its subsidiaries, engages in the mortgage and real estate services business in the United States. It operates through two segments, Mortgage Insurance and Homegenius segments. The Mortgage Insurance segment aggregates, manages, and distributes U.S. mortgage credit risk for mortgage lending institutions and mortgage credit investors, through private mortgage insurance on residential first-lien mortgage loans; and other credit risk management solutions, including contract underwriting.