Legal & General Group Plc Has $13.07 Million Holdings in Radian Group Inc. $RDN

Legal & General Group Plc cut its holdings in shares of Radian Group Inc. (NYSE:RDN) by 14.8% during the 4th quarter, Holdings Channel reports. The firm owned 363,053 shares of the insurance provider’s stock after selling 63,034 shares during the period. Legal & General Group Plc’s holdings in Radian Group were worth $13,066,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. boosted its stake in shares of Radian Group by 2.7% in the third 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 during the period. Dimensional Fund Advisors LP increased its stake in Radian Group by 3.4% during the 3rd quarter. Dimensional Fund Advisors LP now owns 5,443,201 shares of the insurance provider’s stock worth $197,155,000 after acquiring an additional 177,144 shares during the period. American Century Companies Inc. raised its holdings in Radian Group by 4.4% in the 3rd quarter. American Century Companies Inc. now owns 4,019,483 shares of the insurance provider’s stock valued at $145,586,000 after acquiring an additional 171,049 shares in the last quarter. Balyasny Asset Management L.P. raised 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 acquiring an additional 1,128,852 shares in the last quarter. Finally, Capital World Investors lifted its position in shares of Radian Group by 10.7% during the 3rd quarter. Capital World Investors now owns 1,454,087 shares of the insurance provider’s stock valued at $52,667,000 after acquiring an additional 140,003 shares during the period. 95.33% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Chairman Howard Bernard Culang sold 3,612 shares of Radian Group stock in a transaction that occurred on Wednesday, May 27th. The shares were sold at an average price of $36.00, for a total transaction of $130,032.00. Following the sale, the chairman directly owned 8,050 shares of the company’s stock, valued at approximately $289,800. The trade was a 30.97% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Michael S. Weinbach acquired 49,513 shares of the stock in a transaction that occurred on Tuesday, June 2nd. The shares were bought at an average price of $34.04 per share, with a total value of $1,685,422.52. Following the completion of the transaction, the chief executive officer owned 170,000 shares in the company, valued at $5,786,800. This represents a 41.09% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders sold a total of 75,516 shares of company stock worth $2,747,576 in the last quarter. Corporate insiders own 2.03% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on RDN. Zacks Research lowered Radian Group from a “strong-buy” rating to a “hold” rating in a report on Monday, April 20th. Royal Bank Of Canada initiated coverage on shares of Radian Group in a research report on Friday, May 22nd. They set an “outperform” rating and a $47.00 price objective for the company. Barclays increased their price objective on shares of Radian Group from $37.00 to $39.00 and gave the stock an “equal weight” rating in a research note on Monday, May 11th. Keefe, Bruyette & Woods boosted their target price on shares of Radian Group from $42.00 to $43.00 and gave the company an “outperform” rating in a research report on Friday, April 10th. Finally, Wall Street Zen raised shares of Radian Group from a “hold” rating to a “buy” rating in a report on Saturday, May 16th. Five analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $42.67.

Radian Group Price Performance

Radian Group stock opened at $33.86 on Wednesday. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.58 and a current ratio of 0.58. Radian Group Inc. has a 52 week low of $31.50 and a 52 week high of $38.84. The stock has a market capitalization of $4.50 billion, a P/E ratio of 8.34, a price-to-earnings-growth ratio of 0.86 and a beta of 0.73. The stock has a fifty day moving average of $35.19 and a 200-day moving average of $34.72.

Radian Group (NYSE:RDN) last released its quarterly earnings data on Thursday, May 7th. The insurance provider reported $1.27 earnings per share for the quarter, beating 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 for the quarter, compared to analyst estimates of $377.83 million. During the same period last year, the firm posted $0.99 earnings per share. Radian Group’s revenue was up 46.6% compared to the same quarter last year. On average, sell-side analysts expect that Radian Group Inc. will post 5.11 earnings per share for the current fiscal year.

Radian Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 17th. Stockholders of record on Tuesday, June 2nd will be issued a $0.255 dividend. The ex-dividend date of this dividend is Tuesday, June 2nd. This represents a $1.02 dividend on an annualized basis and a dividend yield of 3.0%. Radian Group’s dividend payout ratio is 25.12%.

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.