Radian Group Inc. $RDN Shares Sold by JPMorgan Chase & Co.

JPMorgan Chase & Co. lowered its holdings in shares of Radian Group Inc. (NYSE:RDN) by 51.0% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,022,845 shares of the insurance provider’s stock after selling 1,063,945 shares during the period. JPMorgan Chase & Co. owned 0.76% of Radian Group worth $37,047,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of the business. Financial Consulate Inc. acquired a new stake in shares of Radian Group during the third quarter worth about $29,000. Bessemer Group Inc. raised its stake in Radian Group by 66.7% during the 3rd quarter. Bessemer Group Inc. now owns 795 shares of the insurance provider’s stock valued at $29,000 after acquiring an additional 318 shares during the last quarter. Geneos Wealth Management Inc. lifted its position in Radian Group by 191.3% during the 1st quarter. Geneos Wealth Management Inc. now owns 871 shares of the insurance provider’s stock worth $29,000 after acquiring an additional 572 shares during the period. Salomon & Ludwin LLC purchased a new position in shares of Radian Group in the 3rd quarter valued at approximately $33,000. Finally, Hantz Financial Services Inc. raised its stake in shares of Radian Group by 178.2% during the third quarter. Hantz Financial Services Inc. now owns 1,224 shares of the insurance provider’s stock worth $44,000 after purchasing an additional 784 shares during the last quarter. 95.33% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, EVP Eric Ray sold 13,957 shares of Radian Group stock in a transaction on Tuesday, December 2nd. The stock was sold at an average price of $35.60, for a total transaction of $496,869.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 2.01% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on RDN. Barclays set a $40.00 price objective on shares of Radian Group in a research note on Monday. Roth Mkm reaffirmed a “buy” rating and issued a $45.00 target price on shares of Radian Group in a report on Friday, January 2nd. Weiss Ratings lowered shares of Radian Group from a “buy (a-)” rating to a “buy (b+)” rating in a research note on Tuesday, January 13th. Keefe, Bruyette & Woods raised shares of Radian Group from a “market perform” rating to an “outperform” rating and increased their price target for the stock from $41.00 to $42.00 in a report on Wednesday, February 11th. Finally, Zacks Research raised Radian Group from a “hold” rating to a “strong-buy” rating in a report on Friday, February 20th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $40.80.

Radian Group Stock Performance

NYSE:RDN opened at $34.47 on Friday. The firm’s fifty day simple moving average is $34.20 and its 200-day simple moving average is $34.70. The company has a quick ratio of 1.67, a current ratio of 3.40 and a debt-to-equity ratio of 0.23. The stock has a market cap of $4.70 billion, a PE ratio of 8.31, a price-to-earnings-growth ratio of 1.91 and a beta of 0.81. Radian Group Inc. has a fifty-two week low of $29.32 and a fifty-two week high of $38.84.

Radian Group (NYSE:RDN) last released its quarterly earnings data on Wednesday, February 18th. The insurance provider reported $1.16 EPS for the quarter, topping analysts’ consensus estimates of $1.11 by $0.05. Radian Group had a net margin of 46.99% and a return on equity of 13.07%. The firm had revenue of $300.51 million for the quarter, compared to the consensus estimate of $300.45 million. During the same quarter in the previous year, the firm earned $1.09 earnings per share. The firm’s revenue was up 2.7% on a year-over-year basis. Analysts expect that Radian Group Inc. will post 3.79 earnings per share for the current fiscal year.

Radian Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 10th. Investors of record on Monday, February 23rd will be issued a $0.255 dividend. The ex-dividend date is Monday, February 23rd. This represents a $1.02 dividend on an annualized basis and a dividend yield of 3.0%. Radian Group’s dividend payout ratio is currently 24.58%.

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.