MCF Advisors LLC maintained its stake in shares of Radian Group Inc. (NYSE:RDN) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 303,661 shares of the insurance provider’s stock at the end of the second quarter. Radian Group comprises 1.0% of MCF Advisors LLC’s portfolio, making the stock its 14th largest position. MCF Advisors LLC owned about 0.14% of Radian Group worth $4,965,000 as of its most recent filing with the SEC.
Other hedge funds also recently made changes to their positions in the company. Quantbot Technologies LP acquired a new stake in Radian Group during the first quarter worth $114,000. Cambridge Investment Research Advisors Inc. acquired a new stake in Radian Group during the first quarter worth $253,000. Fox Run Management L.L.C. acquired a new stake in Radian Group during the second quarter worth $231,000. Paragon Capital Management Ltd acquired a new stake in Radian Group during the second quarter worth $237,000. Finally, Meeder Asset Management Inc. acquired a new stake in Radian Group during the first quarter worth $271,000. Institutional investors and hedge funds own 92.71% of the company’s stock.
Shares of Radian Group Inc. (NYSE RDN) opened at 17.27 on Tuesday. The stock has a market cap of $3.72 billion, a PE ratio of 19.83 and a beta of 1.61. Radian Group Inc. has a 52-week low of $12.83 and a 52-week high of $19.87. The company’s 50-day moving average is $17.21 and its 200-day moving average is $17.67.
Radian Group (NYSE:RDN) last issued its quarterly earnings results on Tuesday, August 1st. The insurance provider reported $0.48 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.40 by $0.08. The company had revenue of $302.91 million during the quarter, compared to the consensus estimate of $299.07 million. Radian Group had a net margin of 16.26% and a return on equity of 12.81%. The firm’s quarterly revenue was up 4.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.38 earnings per share. Equities analysts anticipate that Radian Group Inc. will post $1.72 EPS for the current year.
Radian Group announced that its board has approved a stock repurchase plan on Wednesday, August 9th that allows the company to repurchase $50.00 million in shares. This repurchase authorization allows the insurance provider to reacquire up to 1.3% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board of directors believes its shares are undervalued.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 1st. Stockholders of record on Monday, August 21st will be given a dividend of $0.0025 per share. The ex-dividend date is Thursday, August 17th. This represents a $0.01 annualized dividend and a dividend yield of 0.06%. Radian Group’s dividend payout ratio is presently 1.18%.
RDN has been the topic of a number of research reports. ValuEngine upgraded shares of Radian Group from a “buy” rating to a “strong-buy” rating in a report on Wednesday, June 7th. Zacks Investment Research downgraded shares of Radian Group from a “hold” rating to a “sell” rating in a report on Tuesday, July 4th. Deutsche Bank AG cut their price target on shares of Radian Group from $22.00 to $21.00 and set a “buy” rating on the stock in a report on Friday, April 28th. Keefe, Bruyette & Woods reissued a “buy” rating and issued a $21.00 price objective on shares of Radian Group in a research report on Friday, April 28th. Finally, Barclays PLC reissued an “overweight” rating and issued a $24.00 price objective (down from $25.00) on shares of Radian Group in a research report on Wednesday, August 2nd. Two investment analysts have rated the stock with a sell rating, one has given a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. The stock currently 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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