Schwab Charles Investment Management Inc. Grows Stake in Radian Group Inc. (RDN)
Schwab Charles Investment Management Inc. grew its stake in shares of Radian Group Inc. (NYSE:RDN) by 17.7% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 1,133,761 shares of the insurance provider’s stock after acquiring an additional 170,419 shares during the period. Schwab Charles Investment Management Inc. owned about 0.53% of Radian Group worth $18,537,000 at the end of the most recent reporting period.
Other institutional investors also recently added to or reduced their stakes in the company. Quantbot Technologies LP bought a new position in shares of Radian Group during the 1st quarter valued at approximately $114,000. Cambridge Investment Research Advisors Inc. bought a new position in shares of Radian Group during the 1st quarter valued at approximately $253,000. Fox Run Management L.L.C. bought a new position in shares of Radian Group during the 2nd quarter valued at approximately $231,000. Paragon Capital Management Ltd bought a new position in shares of Radian Group during the 2nd quarter valued at approximately $237,000. Finally, Meeder Asset Management Inc. bought a new position in shares of Radian Group during the 1st quarter valued at approximately $271,000. 90.02% of the stock is owned by hedge funds and other institutional investors.
Shares of Radian Group Inc. (NYSE:RDN) opened at 17.60 on Friday. Radian Group Inc. has a 52 week low of $12.96 and a 52 week high of $19.87. The stock has a market capitalization of $3.79 billion, a PE ratio of 20.21 and a beta of 1.58. The company’s 50 day moving average is $17.19 and its 200-day moving average is $17.33.
Radian Group (NYSE:RDN) last announced its quarterly earnings results on Tuesday, August 1st. The insurance provider reported $0.48 EPS for the quarter, topping analysts’ consensus estimates of $0.40 by $0.08. Radian Group had a net margin of 16.26% and a return on equity of 12.81%. The firm had revenue of $302.91 million during the quarter, compared to analyst estimates of $299.07 million. During the same period in the previous year, the business posted $0.38 earnings per share. The business’s revenue for the quarter was up 4.9% on a year-over-year basis. On average, equities analysts predict that Radian Group Inc. will post $1.72 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Friday, September 1st. Stockholders of record on Monday, August 21st were paid a $0.0025 dividend. The ex-dividend date of this dividend was Thursday, August 17th. This represents a $0.01 dividend on an annualized basis and a dividend yield of 0.06%. Radian Group’s dividend payout ratio is presently 1.18%.
Radian Group announced that its Board of Directors has initiated a stock repurchase plan on Wednesday, August 9th that allows the company to buyback $50.00 million in shares. This buyback authorization allows the insurance provider to purchase up to 1.3% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s management believes its stock is undervalued.
In other Radian Group news, CEO Richard G. Thornberry bought 5,000 shares of the business’s stock in a transaction that occurred on Monday, August 21st. The stock was bought at an average cost of $16.54 per share, for a total transaction of $82,700.00. Following the completion of the transaction, the chief executive officer now owns 20,000 shares of the company’s stock, valued at approximately $330,800. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 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 transaction of $294,978.60. Following the sale, the senior vice president now owns 80,720 shares of the company’s stock, valued at $1,389,998.40. The disclosure for this sale can be found here. Insiders own 1.83% of the company’s stock.
A number of research analysts have recently weighed in on the stock. Barclays PLC reissued an “overweight” rating and set a $24.00 target price (down from $25.00) on shares of Radian Group in a research report on Wednesday, August 2nd. ValuEngine downgraded shares of Radian Group from a “strong-buy” rating to a “buy” rating in a research report on Thursday, September 7th. BidaskClub raised shares of Radian Group from a “sell” rating to a “hold” rating in a research report on Tuesday, June 13th. Keefe, Bruyette & Woods reissued a “buy” rating and set a $21.00 target price on shares of Radian Group in a research report on Tuesday, May 30th. Finally, Zacks Investment Research downgraded shares of Radian Group from a “hold” rating to a “sell” rating in a research report on Tuesday, July 4th. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating and seven have assigned a buy rating to the company’s stock. Radian Group currently has an average rating of “Buy” and an average price target of $20.75.
Radian Group Profile
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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