Eagle Asset Management Inc. Boosts Holdings in Radian Group Inc (RDN)
Eagle Asset Management Inc. boosted its position in Radian Group Inc (NYSE:RDN) by 1.5% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,067,656 shares of the insurance provider’s stock after purchasing an additional 15,584 shares during the quarter. Eagle Asset Management Inc. owned approximately 0.50% of Radian Group worth $20,029,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently bought and sold shares of RDN. Aperio Group LLC raised its holdings in Radian Group by 13.1% in the second quarter. Aperio Group LLC now owns 37,316 shares of the insurance provider’s stock worth $610,000 after purchasing an additional 4,324 shares in the last quarter. Strs Ohio raised its holdings in Radian Group by 6.0% in the second quarter. Strs Ohio now owns 88,100 shares of the insurance provider’s stock worth $1,440,000 after purchasing an additional 5,000 shares in the last quarter. NGAM Advisors L.P. raised its holdings in Radian Group by 541.0% in the second quarter. NGAM Advisors L.P. now owns 111,497 shares of the insurance provider’s stock worth $1,823,000 after purchasing an additional 94,102 shares in the last quarter. Rothschild Asset Management Inc. raised its holdings in Radian Group by 3.6% in the second quarter. Rothschild Asset Management Inc. now owns 2,286,739 shares of the insurance provider’s stock worth $37,388,000 after purchasing an additional 79,098 shares in the last quarter. Finally, Sei Investments Co. raised its holdings in Radian Group by 15.0% in the second quarter. Sei Investments Co. now owns 406,858 shares of the insurance provider’s stock worth $6,653,000 after purchasing an additional 53,130 shares in the last quarter. Institutional investors and hedge funds own 91.62% of the company’s stock.
A number of research firms have issued reports on RDN. Deutsche Bank downgraded Radian Group from a “buy” rating to a “hold” rating and set a $23.00 price objective for the company. in a report on Friday, November 3rd. BTIG Research reiterated a “buy” rating and issued a $22.00 price objective on shares of Radian Group in a report on Sunday, October 29th. Compass Point raised Radian Group from a “neutral” rating to a “buy” rating and increased their target price for the stock from $21.75 to $24.75 in a research note on Friday, October 27th. FBR & Co reissued a “buy” rating on shares of Radian Group in a research note on Thursday, October 26th. Finally, Wells Fargo & Company began coverage on Radian Group in a research note on Tuesday. They issued a “market perform” rating and a $22.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Radian Group presently has an average rating of “Buy” and an average price target of $22.53.
Radian Group Inc (NYSE RDN) traded up $0.93 during midday trading on Friday, hitting $21.42. The stock had a trading volume of 2,590,081 shares, compared to its average volume of 1,667,669. Radian Group Inc has a 52-week low of $14.81 and a 52-week high of $21.59. The stock has a market capitalization of $4,540.00, a PE ratio of 12.19, a P/E/G ratio of 2.38 and a beta of 1.59. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.23 and a current ratio of 1.23.
Radian Group (NYSE:RDN) last released its earnings results on Thursday, October 26th. The insurance provider reported $0.46 EPS for the quarter, topping analysts’ consensus estimates of $0.42 by $0.04. Radian Group had a return on equity of 12.99% and a net margin of 14.88%. The firm had revenue of $312.05 million for the quarter, compared to analysts’ expectations of $321.10 million. During the same period in the prior year, the firm posted $0.41 earnings per share. The company’s quarterly revenue was down 2.8% on a year-over-year basis. equities research analysts expect that Radian Group Inc will post 1.76 earnings per share for the current year.
Radian Group announced that its board has approved a share repurchase program on Wednesday, August 9th that authorizes the company to repurchase $50.00 million in outstanding shares. This repurchase authorization authorizes the insurance provider to repurchase up to 1.3% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s management believes its stock is undervalued.
The business also recently announced a quarterly dividend, which will be paid on Friday, December 8th. Stockholders of record on Monday, November 27th will be paid a $0.002 dividend. The ex-dividend date of this dividend is Friday, November 24th. This represents a $0.01 dividend on an annualized basis and a dividend yield of 0.04%. Radian Group’s dividend payout ratio is currently 1.27%.
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Radian Group Company Profile
Radian Group Inc is an insurance holding company that provides mortgage insurance, and products and services to the real estate and mortgage finance industries. The Company operates in two segments: Mortgage Insurance and Services. The Mortgage Insurance segment provides credit-related insurance coverage, principally through private mortgage insurance to mortgage lending institutions.
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