Vanguard Group Inc. increased its holdings in shares of Radian Group Inc. (NYSE:RDN) by 5.0% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 18,116,304 shares of the insurance provider’s stock after acquiring an additional 859,950 shares during the quarter. Vanguard Group Inc. owned about 8.42% of Radian Group worth $296,201,000 as of its most recent SEC filing.
Several other hedge funds have also bought and sold shares of RDN. Quantbot Technologies LP acquired a new position in shares of Radian Group during the 1st quarter worth approximately $114,000. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Radian Group by 11.5% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,781 shares of the insurance provider’s stock worth $127,000 after acquiring an additional 803 shares during the last quarter. Skba Capital Management LLC acquired a new position in shares of Radian Group during the 2nd quarter worth approximately $170,000. Alpine Woods Capital Investors LLC increased its holdings in shares of Radian Group by 9.5% during the 2nd quarter. Alpine Woods Capital Investors LLC now owns 11,510 shares of the insurance provider’s stock worth $188,000 after acquiring an additional 1,000 shares during the last quarter. Finally, Fox Run Management L.L.C. acquired a new position in shares of Radian Group during the 2nd quarter worth approximately $231,000. 90.02% of the stock is currently owned by institutional investors and hedge funds.
Radian Group Inc. (NYSE:RDN) opened at 18.77 on Wednesday. The firm has a market capitalization of $4.04 billion, a price-to-earnings ratio of 21.55 and a beta of 1.51. The company’s 50 day moving average price is $17.67 and its 200-day moving average price is $17.32. Radian Group Inc. has a 12-month low of $12.96 and a 12-month high of $19.87.
Radian Group (NYSE:RDN) last issued its quarterly earnings results on Tuesday, August 1st. The insurance provider reported $0.48 EPS for the quarter, topping the Zacks’ consensus estimate of $0.40 by $0.08. The business had revenue of $302.91 million for the quarter, compared to analyst estimates of $299.07 million. Radian Group had a return on equity of 12.81% and a net margin of 16.26%. Radian Group’s quarterly revenue was up 4.9% compared to the same quarter last year. During the same period last year, the company posted $0.38 earnings per share. On average, equities analysts anticipate that Radian Group Inc. will post $1.72 earnings per share for the current fiscal year.
Radian Group announced that its Board of Directors has approved a share buyback program on Wednesday, August 9th that allows the company to buyback $50.00 million in outstanding shares. This buyback authorization allows the insurance provider to repurchase up to 1.3% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s management believes its stock is undervalued.
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A number of research analysts recently weighed in on the company. BidaskClub raised Radian Group from a “sell” rating to a “hold” rating in a report on Tuesday, June 13th. Barclays PLC reissued an “overweight” rating and set a $24.00 target price (down from $25.00) on shares of Radian Group in a report on Wednesday, August 2nd. Zacks Investment Research raised Radian Group from a “hold” rating to a “buy” rating and set a $21.00 target price on the stock in a report on Tuesday. Finally, ValuEngine raised Radian Group from a “buy” rating to a “strong-buy” rating in a report on Tuesday, September 26th. One research analyst has rated the stock with a sell rating, one has given a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $20.88.
In other Radian Group news, CEO Richard G. Thornberry purchased 15,000 shares of the company’s stock in a transaction that occurred on Friday, August 18th. The shares were acquired at an average cost of $16.78 per share, for a total transaction of $251,700.00. Following the completion of the acquisition, the chief executive officer now owns 15,000 shares of the company’s stock, valued at approximately $251,700. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Catherine Mary Jackson sold 17,130 shares of Radian Group stock in a transaction on Tuesday, August 15th. The stock was sold at an average price of $17.22, for a total value of $294,978.60. Following the sale, the senior vice president now owns 80,720 shares in the company, valued at $1,389,998.40. The disclosure for this sale can be found here. Company insiders own 1.83% of the company’s stock.
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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