Texas Permanent School Fund Corp Cuts Stock Position in Radian Group Inc. (NYSE:RDN)

Texas Permanent School Fund Corp trimmed its holdings in shares of Radian Group Inc. (NYSE:RDN) by 14.5% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 114,651 shares of the insurance provider’s stock after selling 19,410 shares during the period. Texas Permanent School Fund Corp owned approximately 0.08% of Radian Group worth $3,566,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of RDN. Norges Bank bought a new position in shares of Radian Group during the 4th quarter valued at $53,792,000. Hsbc Holdings PLC bought a new stake in Radian Group during the 4th quarter worth approximately $25,565,000. Vest Financial LLC lifted its stake in shares of Radian Group by 6,836.0% during the 1st quarter. Vest Financial LLC now owns 585,886 shares of the insurance provider’s stock valued at $19,610,000 after buying an additional 577,439 shares in the last quarter. Allianz Asset Management GmbH increased its stake in 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 buying an additional 362,409 shares in the last quarter. Finally, First Trust Advisors LP raised its holdings in Radian Group by 29.2% during the fourth quarter. First Trust Advisors LP now owns 1,192,595 shares of the insurance provider’s stock valued at $34,049,000 after acquiring an additional 269,209 shares during the period. Hedge funds and other institutional investors own 95.33% of the company’s stock.

Insiders Place Their Bets

In related news, CFO Sumita Pandit sold 3,817 shares of the business’s stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $34.23, for a total value of $130,655.91. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CFO Sumita Pandit sold 3,817 shares of the business’s stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $34.23, for a total value of $130,655.91. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, COO Mary Dickerson sold 19,511 shares of the stock in a transaction that occurred on Wednesday, August 28th. The shares were sold at an average price of $35.93, for a total transaction of $701,030.23. The disclosure for this sale can be found here. Insiders have sold 119,772 shares of company stock worth $4,260,796 in the last three months. Corporate insiders own 2.16% of the company’s stock.

Analyst Upgrades and Downgrades

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

Radian Group Trading Up 2.6 %

RDN stock opened at $35.13 on Friday. The firm’s fifty day simple moving average is $34.80 and its two-hundred day simple moving average is $32.29. The stock has a market capitalization of $5.29 billion, a price-to-earnings ratio of 9.29, a price-to-earnings-growth ratio of 1.80 and a beta of 1.05. 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 Inc. has a twelve month low of $24.56 and a twelve month high of $37.86.

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

Radian Group Dividend Announcement

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

Radian Group Company 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.