Norges Bank Takes $77.36 Million Position in Radian Group Inc. $RDN

Norges Bank acquired a new stake in Radian Group Inc. (NYSE:RDN) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 2,149,601 shares of the insurance provider’s stock, valued at approximately $77,364,000. Norges Bank owned approximately 1.59% of Radian Group at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Vanguard Group Inc. increased its position in shares of Radian Group by 2.7% during the third quarter. Vanguard Group Inc. now owns 16,272,597 shares of the insurance provider’s stock worth $589,393,000 after purchasing an additional 427,473 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of Radian Group by 3.4% during the third quarter. Dimensional Fund Advisors LP now owns 5,443,201 shares of the insurance provider’s stock worth $197,155,000 after purchasing an additional 177,144 shares in the last quarter. American Century Companies Inc. increased its position in shares of Radian Group by 4.4% during the third quarter. American Century Companies Inc. now owns 4,019,483 shares of the insurance provider’s stock worth $145,586,000 after purchasing an additional 171,049 shares in the last quarter. Balyasny Asset Management L.P. increased its position in shares of Radian Group by 151.7% during the third quarter. Balyasny Asset Management L.P. now owns 1,873,049 shares of the insurance provider’s stock worth $67,842,000 after purchasing an additional 1,128,852 shares in the last quarter. Finally, Capital World Investors increased its position in shares of Radian Group by 10.7% during the third quarter. Capital World Investors now owns 1,454,087 shares of the insurance provider’s stock worth $52,667,000 after purchasing an additional 140,003 shares in the last quarter. 95.33% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Radian Group news, CEO Michael S. Weinbach purchased 120,487 shares of the firm’s stock in a transaction dated Monday, June 1st. The shares were acquired at an average price of $33.89 per share, with a total value of $4,083,304.43. Following the purchase, the chief executive officer directly owned 120,487 shares in the company, valued at approximately $4,083,304.43. This trade represents a ∞ increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Noel Joseph Spiegel sold 4,834 shares of the company’s stock in a transaction on Tuesday, May 26th. The shares were sold at an average price of $36.19, for a total value of $174,942.46. Following the completion of the transaction, the director directly owned 20,008 shares in the company, valued at approximately $724,089.52. This trade represents a 19.46% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 75,516 shares of company stock worth $2,747,576. Corporate insiders own 2.03% of the company’s stock.

Analyst Ratings Changes

RDN has been the subject of several research reports. Wall Street Zen cut Radian Group from a “buy” rating to a “hold” rating in a research report on Saturday. Keefe, Bruyette & Woods boosted their price target on Radian Group from $42.00 to $43.00 and gave the stock an “outperform” rating in a research report on Friday, April 10th. Zacks Research cut Radian Group from a “strong-buy” rating to a “hold” rating in a research report on Monday, April 20th. UBS Group dropped their price target on Radian Group from $41.00 to $39.00 and set a “neutral” rating for the company in a research report on Thursday, March 12th. Finally, 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 price target for the company. Five investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, Radian Group has an average rating of “Moderate Buy” and a consensus target price of $42.67.

Radian Group Stock Performance

NYSE RDN opened at $33.77 on Friday. The stock’s fifty day moving average is $35.26 and its two-hundred day moving average is $34.68. The firm has a market capitalization of $4.49 billion, a P/E ratio of 8.32, a price-to-earnings-growth ratio of 0.85 and a beta of 0.73. 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 fifty-two week low of $31.50 and a fifty-two week high of $38.84.

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, topping analysts’ consensus estimates of $1.17 by $0.10. The company had revenue of $466.34 million for the quarter, compared to analyst estimates of $377.83 million. Radian Group had a return on equity of 13.57% and a net margin of 40.50%.The firm’s revenue for the quarter was up 46.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.99 earnings per share. On average, research analysts anticipate that Radian Group Inc. will post 5.17 earnings per share for the current year.

Radian Group Dividend Announcement

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

About Radian Group

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.