QS Investors LLC Lowers Position in Radian Group Inc. (RDN)
QS Investors LLC reduced its stake in shares of Radian Group Inc. (NYSE:RDN) by 0.4% during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 292,078 shares of the insurance provider’s stock after selling 1,063 shares during the period. QS Investors LLC owned approximately 0.14% of Radian Group worth $4,775,000 as of its most recent filing with the SEC.
A number of other hedge funds also recently made changes to their positions in RDN. Bank of America Corp DE lifted its stake in Radian Group by 4.4% in the first quarter. Bank of America Corp DE now owns 1,337,584 shares of the insurance provider’s stock valued at $24,023,000 after buying an additional 56,926 shares in the last quarter. SG Americas Securities LLC boosted its holdings in shares of Radian Group by 116.7% in the second quarter. SG Americas Securities LLC now owns 66,097 shares of the insurance provider’s stock valued at $1,081,000 after buying an additional 35,595 shares during the period. California Public Employees Retirement System boosted its holdings in shares of Radian Group by 1.3% in the first quarter. California Public Employees Retirement System now owns 415,200 shares of the insurance provider’s stock valued at $7,457,000 after buying an additional 5,500 shares during the period. FMR LLC boosted its holdings in shares of Radian Group by 0.3% in the first quarter. FMR LLC now owns 19,336,037 shares of the insurance provider’s stock valued at $347,275,000 after buying an additional 59,116 shares during the period. Finally, Nuveen Asset Management LLC boosted its holdings in shares of Radian Group by 48.6% in the first quarter. Nuveen Asset Management LLC now owns 1,586,624 shares of the insurance provider’s stock valued at $28,496,000 after buying an additional 518,648 shares during the period. Hedge funds and other institutional investors own 90.02% of the company’s stock.
Radian Group Inc. (RDN) opened at 18.66 on Monday. The company’s 50-day moving average is $17.19 and its 200 day moving average is $17.33. Radian Group Inc. has a one year low of $12.96 and a one year high of $19.87. The firm has a market cap of $4.02 billion, a PE ratio of 21.42 and a beta of 1.51.
Radian Group (NYSE:RDN) last posted its quarterly earnings results on Tuesday, August 1st. The insurance provider reported $0.48 earnings per share for the quarter, topping analysts’ consensus estimates of $0.40 by $0.08. Radian Group had a return on equity of 12.81% and a net margin of 16.26%. The business had revenue of $302.91 million for the quarter, compared to the consensus estimate of $299.07 million. During the same period in the prior year, the business earned $0.38 EPS. The firm’s revenue for the quarter was up 4.9% on a year-over-year basis. Equities analysts anticipate that Radian Group Inc. will post $1.72 earnings per share for the current year.
Radian Group announced that its board has initiated a stock repurchase plan on Wednesday, August 9th that allows the company to repurchase $50.00 million in shares. This repurchase authorization allows the insurance provider to reacquire up to 1.3% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s management believes its stock is undervalued.
A number of equities research analysts recently commented on the stock. Barclays PLC restated an “overweight” rating and set a $24.00 price objective (down from $25.00) on shares of Radian Group in a report on Wednesday, August 2nd. ValuEngine raised shares of Radian Group from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, September 26th. BidaskClub raised shares of Radian Group from a “sell” rating to a “hold” rating in a research note on Tuesday, June 13th. Finally, Zacks Investment Research lowered shares of Radian Group from a “hold” rating to a “sell” rating in a research note on Tuesday, July 4th. Two analysts have rated the stock with a sell rating, one has given a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $20.75.
In other news, CEO Richard G. Thornberry acquired 5,000 shares of the firm’s stock in a transaction dated Monday, August 21st. The stock was purchased at an average price of $16.54 per share, for a total transaction of $82,700.00. Following the completion of the acquisition, the chief executive officer now directly owns 20,000 shares in the company, valued at approximately $330,800. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Catherine Mary Jackson sold 17,130 shares of the business’s stock in a transaction that occurred on Tuesday, August 15th. The shares were sold at an average price of $17.22, for a total value of $294,978.60. Following the sale, the senior vice president now owns 80,720 shares of the company’s stock, valued at approximately $1,389,998.40. The disclosure for this sale can be found here. Company insiders own 1.83% of the company’s stock.
About Radian Group
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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