Sterling Capital Management LLC Increases Holdings in Radian Group Inc (RDN)
Sterling Capital Management LLC raised its stake in shares of Radian Group Inc (NYSE:RDN) by 5.1% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 279,263 shares of the insurance provider’s stock after buying an additional 13,610 shares during the period. Sterling Capital Management LLC owned about 0.13% of Radian Group worth $5,219,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently made changes to their positions in RDN. Capital World Investors increased its stake in shares of Radian Group by 42.7% in the 2nd quarter. Capital World Investors now owns 4,930,000 shares of the insurance provider’s stock worth $80,606,000 after purchasing an additional 1,475,000 shares in the last quarter. Northern Trust Corp increased its stake in shares of Radian Group by 24.6% in the 2nd quarter. Northern Trust Corp now owns 5,305,329 shares of the insurance provider’s stock worth $86,742,000 after purchasing an additional 1,048,954 shares in the last quarter. Ameriprise Financial Inc. increased its stake in shares of Radian Group by 59.3% in the 3rd quarter. Ameriprise Financial Inc. now owns 2,601,594 shares of the insurance provider’s stock worth $48,623,000 after purchasing an additional 968,914 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of Radian Group by 5.0% in the 2nd quarter. Vanguard Group Inc. now owns 18,116,304 shares of the insurance provider’s stock worth $296,201,000 after purchasing an additional 859,950 shares in the last quarter. Finally, Calamos Advisors LLC increased its stake in shares of Radian Group by 62.5% in the 2nd quarter. Calamos Advisors LLC now owns 2,054,000 shares of the insurance provider’s stock worth $33,583,000 after purchasing an additional 790,132 shares in the last quarter. Institutional investors and hedge funds own 91.56% of the company’s stock.
Shares of Radian Group Inc (NYSE:RDN) opened at $21.57 on Friday. Radian Group Inc has a 12 month low of $15.58 and a 12 month high of $22.66. The company has a quick ratio of 1.23, a current ratio of 1.23 and a debt-to-equity ratio of 0.34. The stock has a market capitalization of $4,680.00, a price-to-earnings ratio of 12.47, a price-to-earnings-growth ratio of 2.44 and a beta of 1.54.
Radian Group (NYSE:RDN) last issued its quarterly earnings results on Thursday, October 26th. The insurance provider reported $0.46 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.42 by $0.04. Radian Group had a return on equity of 12.99% and a net margin of 14.88%. The business had revenue of $312.05 million during the quarter, compared to analyst estimates of $321.10 million. During the same quarter in the prior year, the business posted $0.41 EPS. Radian Group’s revenue for the quarter was down 2.8% compared to the same quarter last year. equities analysts expect that Radian Group Inc will post 1.76 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Friday, December 8th. Shareholders of record on Monday, November 27th were paid a $0.002 dividend. The ex-dividend date was Friday, November 24th. This represents a $0.01 dividend on an annualized basis and a yield of 0.04%. Radian Group’s payout ratio is presently 1.27%.
Several equities research analysts have recently commented on RDN shares. ValuEngine lowered Radian Group from a “strong-buy” rating to a “buy” rating in a research note on Thursday, September 7th. Zacks Investment Research lowered Radian Group from a “buy” rating to a “hold” rating in a research note on Monday, October 23rd. Compass Point upgraded Radian Group from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $21.75 to $24.75 in a research note on Friday, October 27th. B. Riley restated a “buy” rating on shares of Radian Group in a research note on Monday, November 6th. Finally, Wells Fargo & Company started coverage on Radian Group in a research note on Tuesday, November 28th. They issued a “market perform” rating and a $22.00 price objective for the company. One analyst has rated the stock with a sell rating, three have assigned a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $22.53.
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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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