First Trust Advisors LP lifted its position in shares of Radian Group Inc. (NYSE:RDN) by 6.7% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 188,954 shares of the insurance provider’s stock after purchasing an additional 11,793 shares during the quarter. First Trust Advisors LP owned 0.09% of Radian Group worth $3,532,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently made changes to their positions in RDN. Legal & General Group Plc boosted its position in shares of Radian Group by 12.1% during the first quarter. Legal & General Group Plc now owns 83,403 shares of the insurance provider’s stock worth $1,495,000 after purchasing an additional 9,006 shares in the last quarter. Fox Run Management L.L.C. bought a new position in shares of Radian Group during the second quarter worth $231,000. Aperio Group LLC boosted its position in shares of Radian Group by 13.1% during the second quarter. Aperio Group LLC now owns 37,316 shares of the insurance provider’s stock worth $610,000 after purchasing an additional 4,324 shares in the last quarter. Quantitative Systematic Strategies LLC bought a new position in shares of Radian Group during the second quarter worth $1,870,000. Finally, Sadoff Investment Management LLC boosted its position in shares of Radian Group by 1.2% during the second quarter. Sadoff Investment Management LLC now owns 972,260 shares of the insurance provider’s stock worth $15,896,000 after purchasing an additional 11,550 shares in the last quarter. 91.33% of the stock is currently owned by institutional investors.
A number of equities analysts have recently weighed in on the stock. Deutsche Bank AG cut shares of Radian Group from a “buy” rating to a “hold” rating and set a $23.00 price target on the stock. in a research report on Friday, November 3rd. BTIG Research reissued a “buy” rating and set a $22.00 price target on shares of Radian Group in a research report on Sunday, October 29th. Compass Point raised shares of Radian Group from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $21.75 to $24.75 in a research report on Friday, October 27th. FBR & Co reissued a “buy” rating on shares of Radian Group in a research report on Thursday, October 26th. Finally, Zacks Investment Research cut shares of Radian Group from a “buy” rating to a “hold” rating in a research report on Monday, October 23rd. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $22.59.
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 12.99%. 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. equities analysts predict that Radian Group Inc. will post 1.76 earnings per share for the current fiscal year.
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 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%.
Radian Group announced that its board has approved a stock repurchase plan on Wednesday, August 9th that authorizes the company to repurchase $50.00 million in outstanding shares. This repurchase authorization authorizes the insurance provider to purchase up to 1.3% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s management believes its stock is undervalued.
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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