Maryland State Retirement & Pension System Has $1.85 Million Stock Holdings in Radian Group Inc. (NYSE:RDN)

Maryland State Retirement & Pension System reduced its holdings in shares of Radian Group Inc. (NYSE:RDN) by 0.8% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 55,196 shares of the insurance provider’s stock after selling 469 shares during the quarter. Maryland State Retirement & Pension System’s holdings in Radian Group were worth $1,847,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the business. Donald Smith & CO. Inc. grew its holdings in shares of Radian Group by 17.4% during the fourth quarter. Donald Smith & CO. Inc. now owns 4,012,334 shares of the insurance provider’s stock valued at $114,552,000 after buying an additional 594,752 shares during the last quarter. Norges Bank bought a new stake in Radian Group during the 4th quarter worth approximately $53,792,000. American Century Companies Inc. increased its holdings in Radian Group by 12.4% during the 3rd quarter. American Century Companies Inc. now owns 1,855,310 shares of the insurance provider’s stock worth $46,587,000 after acquiring an additional 204,459 shares during the period. Allianz Asset Management GmbH increased its holdings in Radian Group by 25.2% during the 4th quarter. Allianz Asset Management GmbH now owns 1,801,916 shares of the insurance provider’s stock worth $51,445,000 after acquiring an additional 362,409 shares during the period. Finally, First Trust Advisors LP increased its holdings in Radian Group by 29.2% during the 4th quarter. First Trust Advisors LP now owns 1,192,595 shares of the insurance provider’s stock worth $34,049,000 after acquiring an additional 269,209 shares during the period. 95.33% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

RDN has been the topic of a number of analyst reports. Keefe, Bruyette & Woods raised shares of Radian Group from a “market perform” rating to an “outperform” rating and upped their target price for the stock from $35.00 to $36.00 in a report on Monday, June 3rd. UBS Group increased their price target on shares of Radian Group from $30.00 to $31.50 and gave the stock a “neutral” rating in a report on Wednesday, May 22nd. Four research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $31.13.

Radian Group Trading Down 0.5 %

Shares of Radian Group stock traded down $0.15 during trading on Friday, reaching $31.13. The company’s stock had a trading volume of 38,475 shares, compared to its average volume of 1,097,617. Radian Group Inc. has a 52-week low of $24.34 and a 52-week high of $33.69. The company has a market cap of $4.69 billion, a price-to-earnings ratio of 8.28, a PEG ratio of 1.78 and a beta of 1.05. The firm’s 50-day moving average is $30.97 and its two-hundred day moving average is $30.09. The company has a quick ratio of 1.80, a current ratio of 1.80 and a debt-to-equity ratio of 0.39.

Radian Group (NYSE:RDN) last announced its quarterly earnings data on Wednesday, May 1st. The insurance provider reported $1.03 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.83 by $0.20. Radian Group had a net margin of 47.74% and a return on equity of 14.52%. The company had revenue of $319.42 million during the quarter, compared to analysts’ expectations of $314.76 million. During the same quarter in the prior year, the company earned $0.98 EPS. The firm’s revenue was up 3.1% on a year-over-year basis. On average, sell-side analysts anticipate that Radian Group Inc. will post 3.52 earnings per share for the current year.

Radian Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 20th. Stockholders of record on Tuesday, June 4th were paid a $0.245 dividend. The ex-dividend date of this dividend was Tuesday, June 4th. This represents a $0.98 dividend on an annualized basis and a dividend yield of 3.15%. Radian Group’s dividend payout ratio (DPR) is 25.93%.

Insider Activity

In other news, Director Noel Joseph Spiegel sold 5,895 shares of the company’s stock in a transaction on Thursday, May 23rd. The shares were sold at an average price of $31.80, for a total value of $187,461.00. Following the completion of the sale, the director now owns 20,008 shares of the company’s stock, valued at approximately $636,254.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other Radian Group news, Director Noel Joseph Spiegel sold 5,895 shares of the stock in a transaction on Thursday, May 23rd. The shares were sold at an average price of $31.80, for a total transaction of $187,461.00. Following the completion of the sale, the director now owns 20,008 shares of the company’s stock, valued at approximately $636,254.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Chairman Howard Bernard Culang sold 10,804 shares of the stock in a transaction on Thursday, May 23rd. The shares were sold at an average price of $31.45, for a total transaction of $339,785.80. Following the sale, the chairman now directly owns 8,050 shares of the company’s stock, valued at approximately $253,172.50. The disclosure for this sale can be found here. In the last 90 days, insiders sold 117,004 shares of company stock valued at $3,651,517. Corporate insiders own 2.16% of the company’s stock.

About Radian Group

Radian Group Inc, together with its subsidiaries, engages in the mortgage and real estate services business in the United States. It operates through two segments, Mortgage Insurance and Homegenius segments. The Mortgage Insurance segment aggregates, manages, and distributes U.S. mortgage credit risk for mortgage lending institutions and mortgage credit investors, through private mortgage insurance on residential first-lien mortgage loans; and other credit risk management solutions, including contract underwriting.