Northern Trust Corp Cuts Position in Radian Group Inc (NYSE:RDN)
Northern Trust Corp trimmed its position in shares of Radian Group Inc (NYSE:RDN) by 0.2% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 5,105,590 shares of the insurance provider’s stock after selling 11,997 shares during the period. Northern Trust Corp’s holdings in Radian Group were worth $116,663,000 at the end of the most recent reporting period.
Other hedge funds have also recently added to or reduced their stakes in the company. Hillsdale Investment Management Inc. increased its stake in shares of Radian Group by 2.6% during the second quarter. Hillsdale Investment Management Inc. now owns 141,830 shares of the insurance provider’s stock worth $3,241,000 after buying an additional 3,600 shares during the period. Parametrica Management Ltd purchased a new stake in shares of Radian Group during the first quarter worth approximately $285,000. California Public Employees Retirement System increased its stake in shares of Radian Group by 26.1% during the first quarter. California Public Employees Retirement System now owns 566,376 shares of the insurance provider’s stock worth $11,747,000 after buying an additional 117,326 shares during the period. Callodine Capital Management LP increased its stake in shares of Radian Group by 33.5% during the first quarter. Callodine Capital Management LP now owns 740,695 shares of the insurance provider’s stock worth $15,362,000 after buying an additional 185,695 shares during the period. Finally, Nkcfo LLC purchased a new stake in shares of Radian Group during the second quarter worth approximately $291,000. Hedge funds and other institutional investors own 93.97% of the company’s stock.
A number of research firms recently weighed in on RDN. B. Riley set a $27.00 target price on shares of Radian Group and gave the stock a “hold” rating in a research note on Friday, August 2nd. BTIG Research restated a “buy” rating and set a $29.00 target price on shares of Radian Group in a research note on Thursday, August 1st. Finally, Barclays restated a “buy” rating and set a $27.00 target price on shares of Radian Group in a research note on Monday, June 24th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and five have assigned a buy rating to the stock. Radian Group has a consensus rating of “Buy” and an average target price of $27.14.
Radian Group (NYSE:RDN) last posted its quarterly earnings data on Wednesday, July 31st. The insurance provider reported $0.80 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.70 by $0.10. The business had revenue of $394.96 million during the quarter, compared to the consensus estimate of $352.77 million. Radian Group had a return on equity of 17.68% and a net margin of 43.66%. The company’s revenue was up 23.7% compared to the same quarter last year. During the same period in the prior year, the company earned $0.69 earnings per share. As a group, equities analysts predict that Radian Group Inc will post 2.95 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, September 6th. Stockholders of record on Monday, August 26th were issued a $0.002 dividend. This represents a $0.01 annualized dividend and a dividend yield of 0.03%. The ex-dividend date was Friday, August 23rd. Radian Group’s payout ratio is currently 0.37%.
About Radian Group
Radian Group Inc, through its subsidiaries, engages in the mortgage and real estate services business in the United States. It operates in two segments, Mortgage Insurance and Services. The Mortgage Insurance segment offers credit-related insurance coverage, primarily through private mortgage insurance on residential first-lien mortgage loans, as well as other credit risk management solutions to mortgage lending institutions and mortgage credit investors.
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