Voya Investment Management LLC Trims Position in Radian Group Inc. $RDN

Voya Investment Management LLC trimmed its holdings in Radian Group Inc. (NYSE:RDN) by 64.6% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 24,832 shares of the insurance provider’s stock after selling 45,316 shares during the period. Voya Investment Management LLC’s holdings in Radian Group were worth $899,000 at the end of the most recent reporting period.

Other institutional investors also recently made changes to their positions in the company. American Century Companies Inc. boosted its holdings in Radian Group by 5.2% in the second quarter. American Century Companies Inc. now owns 3,848,434 shares of the insurance provider’s stock valued at $138,621,000 after acquiring an additional 190,184 shares during the last quarter. Norges Bank purchased a new position in shares of Radian Group in the 2nd quarter worth about $85,785,000. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new position in shares of Radian Group in the 2nd quarter worth about $69,714,000. Jane Street Group LLC lifted its stake in shares of Radian Group by 11,446.4% in the 1st quarter. Jane Street Group LLC now owns 1,310,517 shares of the insurance provider’s stock valued at $43,339,000 after purchasing an additional 1,299,167 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC grew its holdings in shares of Radian Group by 2.3% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 887,874 shares of the insurance provider’s stock worth $32,674,000 after purchasing an additional 20,049 shares during the period. 95.33% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on RDN. Barclays raised their target price on shares of Radian Group from $35.00 to $37.00 and gave the company a “cautious” rating in a research note on Monday, October 6th. Keefe, Bruyette & Woods raised their price objective on Radian Group from $40.00 to $41.00 and gave the company a “market perform” rating in a research note on Thursday, December 18th. UBS Group cut their target price on shares of Radian Group from $43.00 to $40.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 15th. Weiss Ratings reiterated a “buy (a-)” rating on shares of Radian Group in a research report on Monday. Finally, Zacks Research upgraded shares of Radian Group from a “hold” rating to a “strong-buy” rating in a research note on Monday, September 22nd. Two research analysts have rated the stock with a Strong Buy rating, three have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Radian Group presently has an average rating of “Moderate Buy” and a consensus target price of $38.75.

Radian Group Stock Performance

RDN stock opened at $35.97 on Thursday. The company has a 50-day simple moving average of $35.22 and a 200 day simple moving average of $34.93. The company has a quick ratio of 1.67, a current ratio of 1.67 and a debt-to-equity ratio of 0.24. The company has a market capitalization of $4.87 billion, a P/E ratio of 8.97 and a beta of 0.83. Radian Group Inc. has a fifty-two week low of $29.32 and a fifty-two week high of $38.84.

Radian Group (NYSE:RDN) last announced its earnings results on Wednesday, November 5th. The insurance provider reported $1.15 EPS for the quarter, topping the consensus estimate of $0.95 by $0.20. The firm had revenue of $303.19 million for the quarter, compared to analysts’ expectations of $308.77 million. Radian Group had a return on equity of 13.29% and a net margin of 45.90%.The firm’s quarterly revenue was down 3.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.03 earnings per share. Sell-side analysts predict that Radian Group Inc. will post 3.79 earnings per share for the current fiscal year.

Radian Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 9th. Investors of record on Monday, November 24th were paid a dividend of $0.255 per share. The ex-dividend date of this dividend was Monday, November 24th. This represents a $1.02 annualized dividend and a yield of 2.8%. Radian Group’s dividend payout ratio (DPR) is currently 25.44%.

Insider Transactions at Radian Group

In related news, EVP Eric Ray sold 13,957 shares of Radian Group stock in a transaction dated Tuesday, December 2nd. The stock was sold at an average price of $35.60, for a total transaction of $496,869.20. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 2.01% 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.