APG Asset Management N.V. acquired a new stake in shares of Radian Group Inc. (NYSE:RDN) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 623,700 shares of the insurance provider’s stock, valued at approximately $11,657,000. APG Asset Management N.V. owned about 0.29% of Radian Group as of its most recent filing with the Securities and Exchange Commission.
Several other large investors also recently made changes to their positions in RDN. UBS Asset Management Americas Inc. lifted its position in shares of Radian Group by 27.9% during the 1st quarter. UBS Asset Management Americas Inc. now owns 139,510 shares of the insurance provider’s stock valued at $2,506,000 after acquiring an additional 30,420 shares during the last quarter. Stifel Financial Corp acquired a new stake in shares of Radian Group during the 1st quarter valued at $275,000. Legal & General Group Plc lifted its position in shares of Radian Group by 12.1% during the 1st quarter. Legal & General Group Plc now owns 83,403 shares of the insurance provider’s stock valued at $1,495,000 after acquiring an additional 9,006 shares during the last quarter. Vanguard Group Inc. lifted its position in shares of Radian Group by 5.3% during the 1st quarter. Vanguard Group Inc. now owns 17,256,354 shares of the insurance provider’s stock valued at $309,923,000 after acquiring an additional 876,181 shares during the last quarter. Finally, Geode Capital Management LLC lifted its position in shares of Radian Group by 2.6% during the 1st quarter. Geode Capital Management LLC now owns 1,636,001 shares of the insurance provider’s stock valued at $29,382,000 after acquiring an additional 41,292 shares during the last quarter. Institutional investors own 90.37% of the company’s stock.
Radian Group (NYSE:RDN) last posted its quarterly earnings data on Thursday, October 26th. The insurance provider reported $0.46 EPS for the quarter, beating the consensus estimate of $0.42 by $0.04. The business had revenue of $312.05 million for the quarter, compared to analysts’ expectations of $321.10 million. Radian Group had a net margin of 14.88% and a return on equity of 13.09%. The firm’s revenue was down 2.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.41 EPS.
Radian Group announced that its Board of Directors has approved a stock repurchase 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 shares through open market purchases. Shares buyback programs are generally a sign that the company’s board of directors believes its stock is undervalued.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 8th. Investors of record on Monday, November 27th will be given a $0.002 dividend. The ex-dividend date of this dividend is Friday, November 24th. This represents a $0.01 annualized dividend and a yield of 0.04%. Radian Group’s dividend payout ratio is currently 1.28%.
In related news, CEO Richard G. Thornberry acquired 5,000 shares of the business’s stock in a transaction that occurred on Monday, August 21st. The shares were acquired at an average cost of $16.54 per share, with a total value of $82,700.00. Following the transaction, the chief executive officer now owns 20,000 shares of the company’s stock, valued at approximately $330,800. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Catherine Mary Jackson sold 17,130 shares of the business’s stock in a transaction on Tuesday, August 15th. The shares were sold at an average price of $17.22, for a total transaction of $294,978.60. Following the completion of the sale, the senior vice president now directly owns 80,720 shares in the company, valued at $1,389,998.40. The disclosure for this sale can be found here. Insiders own 1.06% of the company’s stock.
A number of brokerages have recently commented on RDN. BTIG Research reiterated a “buy” rating and set a $22.00 price objective on shares of Radian Group in a research report on Sunday, October 15th. Deutsche Bank AG increased their price objective on Radian Group from $21.00 to $23.00 and gave the company a “buy” rating in a research report on Wednesday, October 25th. Compass Point reiterated a “neutral” rating and set a $21.25 price objective on shares of Radian Group in a research report on Saturday, October 14th. FBR & Co reiterated a “buy” rating on shares of Radian Group in a research report on Thursday, October 26th. Finally, Barclays PLC reiterated an “overweight” rating and set a $24.00 price objective (down previously from $25.00) on shares of Radian Group in a research report on Wednesday, August 2nd. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $22.59.
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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