Choreo LLC Buys New Shares in Radian Group Inc. (NYSE:RDN)

Choreo LLC bought a new position in shares of Radian Group Inc. (NYSE:RDN) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 20,382 shares of the insurance provider’s stock, valued at approximately $636,000.

Several other institutional investors and hedge funds have also recently modified their holdings of RDN. Vanguard Group Inc. grew its stake in shares of Radian Group by 0.3% during the 1st quarter. Vanguard Group Inc. now owns 20,439,073 shares of the insurance provider’s stock worth $684,096,000 after acquiring an additional 69,383 shares during the period. LSV Asset Management lifted its stake in Radian Group by 0.8% in the first quarter. LSV Asset Management now owns 6,863,814 shares of the insurance provider’s stock worth $229,732,000 after acquiring an additional 52,397 shares during the period. Bank of New York Mellon Corp lifted its position in Radian Group by 0.3% during the second quarter. Bank of New York Mellon Corp now owns 1,927,201 shares of the insurance provider’s stock valued at $59,936,000 after buying an additional 6,588 shares during the period. Norges Bank purchased a new stake in Radian Group during the 4th quarter valued at about $53,792,000. Finally, Allianz Asset Management GmbH increased its holdings in shares of Radian Group by 25.2% in the 4th quarter. Allianz Asset Management GmbH now owns 1,801,916 shares of the insurance provider’s stock worth $51,445,000 after purchasing an additional 362,409 shares in the last quarter. 95.33% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Radian Group

In related news, insider Derek Brummer sold 35,153 shares of the business’s stock in a transaction that occurred on Thursday, September 5th. The shares were sold at an average price of $35.36, for a total value of $1,243,010.08. Following the sale, the insider now directly owns 186,535 shares in the company, valued at approximately $6,595,877.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Radian Group news, insider Derek Brummer sold 35,153 shares of the business’s stock in a transaction on Thursday, September 5th. The shares were sold at an average price of $35.36, for a total transaction of $1,243,010.08. Following the completion of the transaction, the insider now owns 186,535 shares of the company’s stock, valued at approximately $6,595,877.60. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Sumita Pandit sold 3,817 shares of the stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $34.23, for a total value of $130,655.91. The disclosure for this sale can be found here. Insiders have sold a total of 119,772 shares of company stock worth $4,260,796 in the last three months. 2.16% of the stock is owned by company insiders.

Radian Group Price Performance

Shares of NYSE:RDN opened at $35.13 on Friday. The company has a 50-day moving average price of $34.80 and a 200 day moving average price of $32.29. The company has a market cap of $5.29 billion, a P/E ratio of 9.29, a PEG ratio of 1.80 and a beta of 1.05. Radian Group Inc. has a 52 week low of $24.56 and a 52 week high of $37.86. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 0.45.

Radian Group (NYSE:RDN) last issued its earnings results on Wednesday, July 31st. The insurance provider reported $0.99 EPS for the quarter, beating analysts’ consensus estimates of $0.87 by $0.12. Radian Group had a net margin of 47.05% and a return on equity of 14.43%. The business had revenue of $312.37 million for the quarter, compared to the consensus estimate of $324.00 million. Research analysts predict that Radian Group Inc. will post 3.75 earnings per share for the current year.

Radian Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 11th. Shareholders of record on Monday, August 26th were paid a $0.245 dividend. This represents a $0.98 dividend on an annualized basis and a yield of 2.79%. The ex-dividend date was Monday, August 26th. Radian Group’s payout ratio is 25.93%.

Analyst Ratings Changes

A number of equities research analysts have issued reports on RDN shares. Royal Bank of Canada increased their price target on Radian Group from $32.00 to $37.00 and gave the stock a “sector perform” rating in a research note on Friday, August 2nd. Barclays lifted their price target on shares of Radian Group from $30.00 to $32.00 and gave the stock an “equal weight” rating in a report on Friday, August 2nd. Keefe, Bruyette & Woods increased their price objective on Radian Group from $36.00 to $39.00 and gave the company an “outperform” rating in a report on Monday, August 5th. Roth Mkm raised their price objective on shares of Radian Group from $35.00 to $40.00 and gave the stock a “buy” rating in a research note on Friday, August 2nd. Finally, UBS Group increased their price objective on Radian Group from $30.00 to $31.50 and gave the company a “neutral” rating in a research note on Wednesday, May 22nd. Four investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $35.90.

Radian Group Profile

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.