Mount Vernon Associates Inc. MD held its position in shares of Radian Group Inc. (NYSE:RDN) during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 13,350 shares of the insurance provider’s stock at the end of the second quarter. Mount Vernon Associates Inc. MD’s holdings in Radian Group were worth $218,000 at the end of the most recent quarter.
Other institutional investors also recently modified their holdings of the company. Bowling Portfolio Management LLC bought a new position in shares of Radian Group during the first quarter valued at $958,000. Canada Pension Plan Investment Board increased its position in shares of Radian Group by 666.1% in the first quarter. Canada Pension Plan Investment Board now owns 47,500 shares of the insurance provider’s stock valued at $853,000 after buying an additional 41,300 shares during the last quarter. Russell Investments Group Ltd. increased its position in shares of Radian Group by 23.6% in the first quarter. Russell Investments Group Ltd. now owns 235,164 shares of the insurance provider’s stock valued at $4,224,000 after buying an additional 44,912 shares during the last quarter. Nationwide Fund Advisors increased its position in shares of Radian Group by 18.8% in the first quarter. Nationwide Fund Advisors now owns 551,437 shares of the insurance provider’s stock valued at $9,904,000 after buying an additional 87,194 shares during the last quarter. Finally, James Investment Research Inc. bought a new position in shares of Radian Group during the first quarter valued at $408,000. Hedge funds and other institutional investors own 93.09% of the company’s stock.
Shares of Radian Group Inc. (NYSE:RDN) opened at 17.45 on Wednesday. Radian Group Inc. has a 52-week low of $12.65 and a 52-week high of $19.87. The stock has a market capitalization of $3.75 billion, a PE ratio of 19.99 and a beta of 1.61. The company’s 50 day moving average price is $17.08 and its 200 day moving average price is $17.71.
Radian Group (NYSE:RDN) last announced its earnings results on Tuesday, August 1st. The insurance provider reported $0.48 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.40 by $0.08. Radian Group had a return on equity of 12.84% and a net margin of 16.26%. The company had revenue of $302.91 million for the quarter, compared to analyst estimates of $299.07 million. During the same period in the prior year, the company posted $0.38 EPS. The firm’s quarterly revenue was up 4.9% compared to the same quarter last year. On average, equities research analysts anticipate that Radian Group Inc. will post $1.70 EPS for the current year.
Several equities analysts have recently weighed in on the company. Barclays PLC restated an “overweight” rating and set a $24.00 price target (down from $25.00) on shares of Radian Group in a report on Wednesday, August 2nd. Keefe, Bruyette & Woods restated a “buy” rating and set a $21.00 price target on shares of Radian Group in a report on Friday, April 28th. Zacks Investment Research downgraded Radian Group from a “buy” rating to a “hold” rating in a report on Friday, April 28th. BidaskClub upgraded Radian Group from a “sell” rating to a “hold” rating in a report on Tuesday, June 13th. Finally, Deutsche Bank AG dropped their price objective on Radian Group from $22.00 to $21.00 and set a “buy” rating on the stock in a research report on Friday, April 28th. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. The company has an average rating of “Buy” and an average target price of $20.75.
Radian Group Company 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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