Summit Global Investments Invests $1.29 Million in Radian Group Inc. $RDN

Summit Global Investments bought a new stake in shares of Radian Group Inc. (NYSE:RDN) during the second quarter, Holdings Channel.com reports. The fund bought 34,299 shares of the insurance provider’s stock, valued at approximately $1,292,000.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Norges Bank bought a new position in Radian Group in the fourth quarter worth about $77,364,000. Balyasny Asset Management L.P. boosted its position in Radian Group by 151.7% during the 3rd quarter. Balyasny Asset Management L.P. now owns 1,873,049 shares of the insurance provider’s stock valued at $67,842,000 after acquiring an additional 1,128,852 shares in the last quarter. Donald Smith & CO. Inc. boosted its position in Radian Group by 43.7% during the 4th quarter. Donald Smith & CO. Inc. now owns 3,012,255 shares of the insurance provider’s stock valued at $108,411,000 after acquiring an additional 916,003 shares in the last quarter. Millennium Management LLC boosted its position in Radian Group by 59.7% during the 3rd quarter. Millennium Management LLC now owns 1,007,172 shares of the insurance provider’s stock valued at $36,480,000 after acquiring an additional 376,533 shares in the last quarter. Finally, Aegis Financial Corp purchased a new position in shares of Radian Group during the 1st quarter worth approximately $9,768,000. Hedge funds and other institutional investors own 95.33% of the company’s stock.

Insider Buying and Selling

In related news, Director Noel Joseph Spiegel sold 4,834 shares of the company’s stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $36.19, for a total value of $174,942.46. Following the transaction, the director owned 20,008 shares in the company, valued at $724,089.52. The trade was a 19.46% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Chairman Howard Bernard Culang sold 5,000 shares of the firm’s stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $36.20, for a total transaction of $181,000.00. Following the sale, the chairman owned 11,662 shares of the company’s stock, valued at approximately $422,164.40. This represents a 30.01% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 15,517 shares of company stock worth $557,610 in the last 90 days. 2.03% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on RDN shares. Zacks Research lowered Radian Group from a “strong-buy” rating to a “hold” rating in a research report on Monday, April 20th. Wall Street Zen cut Radian Group from a “buy” rating to a “hold” rating in a research note on Sunday, August 9th. Keefe, Bruyette & Woods decreased their price objective on Radian Group from $46.00 to $44.00 and set an “outperform” rating for the company in a report on Tuesday. Bank of America raised Radian Group from an “underperform” rating to a “buy” rating and raised their price objective for the company from $35.00 to $43.00 in a research report on Wednesday, April 29th. Finally, Royal Bank Of Canada initiated coverage on shares of Radian Group in a report on Friday, May 22nd. They set an “outperform” rating and a $47.00 target price on the stock. Five research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $42.17.

Radian Group Stock Performance

Shares of RDN opened at $37.20 on Friday. The company has a quick ratio of 0.58, a current ratio of 0.60 and a debt-to-equity ratio of 0.14. The business’s 50 day moving average price is $37.21 and its 200-day moving average price is $35.38. Radian Group Inc. has a 52 week low of $31.50 and a 52 week high of $41.05. The stock has a market cap of $4.92 billion, a P/E ratio of 9.56, a P/E/G ratio of 0.88 and a beta of 0.72.

Radian Group (NYSE:RDN) last posted its quarterly earnings data on Thursday, August 6th. The insurance provider reported $1.14 earnings per share for the quarter, missing analysts’ consensus estimates of $1.34 by ($0.20). Radian Group had a net margin of 32.60% and a return on equity of 13.65%. The company had revenue of $574.96 million for the quarter, compared to the consensus estimate of $556.55 million. During the same period last year, the business earned $1.01 EPS. The firm’s quarterly revenue was up 92.3% on a year-over-year basis. Equities research analysts anticipate that Radian Group Inc. will post 4.93 earnings per share for the current fiscal year.

Radian Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 9th. Stockholders of record on Monday, August 24th will be issued a dividend of $0.255 per share. The ex-dividend date is Monday, August 24th. This represents a $1.02 annualized dividend and a dividend yield of 2.7%. Radian Group’s dividend payout ratio (DPR) is presently 26.22%.

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.