Radian Group Inc. $RDN Stake Lessened by New York State Common Retirement Fund

New York State Common Retirement Fund lessened its holdings in Radian Group Inc. (NYSE:RDN) by 32.1% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 43,210 shares of the insurance provider’s stock after selling 20,400 shares during the period. New York State Common Retirement Fund’s holdings in Radian Group were worth $1,565,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of RDN. American Century Companies Inc. increased its stake in Radian Group by 5.2% in the 2nd quarter. American Century Companies Inc. now owns 3,848,434 shares of the insurance provider’s stock valued at $138,621,000 after buying an additional 190,184 shares during the period. Norges Bank acquired a new position in shares of Radian Group in the second quarter worth $85,785,000. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in shares of Radian Group during the second quarter worth $69,714,000. Wealth Enhancement Advisory Services LLC raised its holdings in shares of Radian Group by 1.1% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 897,223 shares of the insurance provider’s stock worth $31,098,000 after acquiring an additional 9,349 shares in the last quarter. Finally, Balyasny Asset Management L.P. boosted its position in Radian Group by 113.3% during the second quarter. Balyasny Asset Management L.P. now owns 744,197 shares of the insurance provider’s stock valued at $26,806,000 after purchasing an additional 395,370 shares during the last quarter. Hedge funds and other institutional investors own 95.33% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on RDN shares. Keefe, Bruyette & Woods raised their price target on Radian Group from $40.00 to $41.00 and gave the stock a “market perform” rating in a research note on Thursday, December 18th. Roth Mkm reaffirmed a “buy” rating and set a $45.00 price objective on shares of Radian Group in a research report on Friday, January 2nd. Weiss Ratings cut shares of Radian Group from a “buy (a-)” rating to a “buy (b+)” rating in a research note on Tuesday, January 13th. UBS Group cut their price target on shares of Radian Group from $43.00 to $40.00 and set a “neutral” rating on the stock in a report on Wednesday, October 15th. Finally, Zacks Research cut shares of Radian Group from a “strong-buy” rating to a “hold” rating in a report on Tuesday, January 6th. Two investment analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $40.00.

Radian Group Stock Performance

Shares of RDN opened at $32.75 on Tuesday. The company has a market capitalization of $4.44 billion, a PE ratio of 8.17 and a beta of 0.81. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.67 and a quick ratio of 1.67. Radian Group Inc. has a one year low of $29.32 and a one year high of $38.84. The company’s fifty day moving average price is $34.74 and its 200 day moving average price is $34.69.

Radian Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 9th. Stockholders of record on Monday, November 24th were paid a $0.255 dividend. The ex-dividend date was Monday, November 24th. This represents a $1.02 dividend on an annualized basis and a dividend yield of 3.1%. Radian Group’s payout ratio is presently 25.44%.

Insiders Place Their Bets

In related news, EVP Eric Ray sold 13,957 shares of the stock in a transaction that occurred 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 filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 2.16% of the stock is currently owned by insiders.

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.