JPMorgan Chase & Co. Trims Stake in Radian Group Inc. $RDN

JPMorgan Chase & Co. lessened its holdings in shares of Radian Group Inc. (NYSE:RDN) by 14.5% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,086,790 shares of the insurance provider’s stock after selling 354,973 shares during the period. JPMorgan Chase & Co.’s holdings in Radian Group were worth $75,166,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the business. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in shares of Radian Group in the second quarter worth approximately $69,714,000. Jane Street Group LLC increased its stake in Radian Group by 11,446.4% in the first quarter. Jane Street Group LLC now owns 1,310,517 shares of the insurance provider’s stock worth $43,339,000 after purchasing an additional 1,299,167 shares during the period. Nuveen LLC bought a new stake in shares of Radian Group during the first quarter worth $40,749,000. Millennium Management LLC purchased a new stake in shares of Radian Group during the first quarter valued at $27,282,000. Finally, Deutsche Bank AG grew its holdings in shares of Radian Group by 161.9% in the first 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. Institutional investors own 95.33% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on RDN shares. Zacks Research upgraded shares of Radian Group from a “hold” rating to a “strong-buy” rating in a report on Monday, September 22nd. UBS Group lowered their price target on Radian Group from $43.00 to $40.00 and set a “neutral” rating for the company in a report on Wednesday, October 15th. Weiss Ratings restated a “buy (a-)” rating on shares of Radian Group in a report on Monday. Finally, Barclays upped their target price on Radian Group from $35.00 to $37.00 and gave the stock a “cautious” rating in a report on Monday, October 6th. Two research analysts have rated the stock with a Strong Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $38.00.

Radian Group Stock Up 0.0%

Shares of NYSE RDN opened at $35.55 on Friday. Radian Group Inc. has a 12-month low of $29.32 and a 12-month high of $38.84. The stock’s fifty day simple moving average is $34.71 and its two-hundred day simple moving average is $34.59. The stock has a market capitalization of $4.82 billion, a PE ratio of 8.95 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 issued its quarterly earnings data on Wednesday, November 5th. The insurance provider reported $1.15 earnings per share for the quarter, topping analysts’ consensus estimates of $0.95 by $0.20. Radian Group had a return on equity of 13.25% and a net margin of 45.62%.The firm had revenue of $303.19 million during the quarter, compared to analysts’ expectations of $308.77 million. During the same period in the prior year, the business posted $1.03 EPS. The firm’s quarterly revenue was down 3.3% on a year-over-year basis. As a group, analysts expect that Radian Group Inc. will post 3.79 EPS for the current fiscal year.

Radian Group Dividend Announcement

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

Insider Activity at Radian Group

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

Radian Group Company 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.