Radian Group Inc. $RDN Stock: Sterling Capital Management LLC Cuts Stake

Sterling Capital Management LLC reduced its stake in shares of Radian Group Inc. (NYSE:RDN) by 97.0% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 2,639 shares of the insurance provider’s stock after selling 86,709 shares during the quarter. Sterling Capital Management LLC’s holdings in Radian Group were worth $81,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the stock. BlackRock Inc. acquired a new position in Radian Group in the second quarter valued at about $728,072,000. Donald Smith & CO. Inc. acquired a new stake in Radian Group during the second quarter worth about $163,104,000. Caisse de depot et placement du Quebec acquired a new stake in Radian Group during the second quarter worth about $89,334,000. Bruni J V & Co. Co. acquired a new stake in Radian Group during the second quarter worth about $59,355,376. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in Radian Group during the second quarter worth about $45,553,000. Institutional investors own 95.33% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have commented on the stock. Zacks Research raised shares of Radian Group from a “strong sell” rating to a “hold” rating in a report on Tuesday, October 13th. Weiss Ratings downgraded shares of Radian Group from a “buy (b+)” rating to a “buy (b)” rating in a report on Tuesday, October 13th. BTIG Research assumed coverage on shares of Radian Group in a research report on Tuesday, September 22nd. They set a “buy” rating and a $48.00 price target on the stock. Barclays increased their price target on shares of Radian Group from $35.00 to $36.00 and gave the stock an “equal weight” rating in a research report on Monday, October 5th. Finally, Keefe, Bruyette & Woods lowered their price objective on shares of Radian Group from $46.00 to $44.00 and set an “outperform” rating for the company in a research report on Tuesday, August 11th. Six analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $43.14.

Radian Group Price Performance

Shares of RDN stock opened at $36.18 on Tuesday. The business has a fifty day simple moving average of $34.82 and a 200 day simple moving average of $35.20. The company has a market cap of $4.79 billion, a P/E ratio of 7.41, a P/E/G ratio of 0.87 and a beta of 0.71. The company has a quick ratio of 0.60, a current ratio of 0.60 and a debt-to-equity ratio of 0.14. Radian Group Inc. has a twelve month low of $30.53 and a twelve month high of $41.05.

Radian Group (NYSE:RDN) last released its earnings results on Thursday, August 6th. The insurance provider reported $1.14 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.34 by ($0.20). The business had revenue of $574.96 million during the quarter, compared to the consensus estimate of $556.55 million. Radian Group had a net margin of 32.60% and a return on equity of 13.65%. The business’s revenue was up 92.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.01 EPS. On average, sell-side analysts forecast that Radian Group Inc. will post 4.85 EPS for the current fiscal year.

Radian Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 9th. Stockholders of record on Monday, August 24th were paid a $0.2550 dividend. This represents a $1.02 dividend on an annualized basis and a dividend yield of 2.8%. The ex-dividend date was Monday, August 24th. Radian Group’s dividend payout ratio (DPR) is presently 26.22%.

Insider Buying and Selling at Radian Group

In other news, EVP Meghan Bartholomew sold 7,812 shares of the firm’s stock in a transaction that occurred on Monday, September 14th. The shares were sold at an average price of $35.94, for a total value of $280,763.28. Following the sale, the executive vice president directly owned 39,203 shares in the company, valued at approximately $1,408,955.82. This trade represents a 16.62% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 2.03% of the company’s stock.

Radian Group Profile

Radian Group Inc (NYSE:RDN) is a financial services company that provides mortgage insurance and related services to the residential real estate industry. Through its mortgage insurance subsidiaries, including Radian Guaranty Inc, the company helps lenders manage credit risk on residential mortgages, particularly loans made to borrowers with smaller down payments. Its insurance can also help borrowers obtain home financing without contributing a traditional 20% down payment.

Radian’s mortgage insurance business serves mortgage lenders, banks, credit unions and other housing finance participants primarily in the United States.