Franklin Resources Inc. Has $3 Million Position in Radian Group Inc. (NYSE:RDN)

Franklin Resources Inc. trimmed its holdings in shares of Radian Group Inc. (NYSE:RDN) by 0.4% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 86,222 shares of the insurance provider’s stock after selling 378 shares during the period. Franklin Resources Inc.’s holdings in Radian Group were worth $3,001,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of RDN. Tidal Investments LLC acquired a new position in Radian Group during the third quarter valued at approximately $402,000. Sanctuary Advisors LLC raised its stake in shares of Radian Group by 11.3% during the 3rd quarter. Sanctuary Advisors LLC now owns 20,541 shares of the insurance provider’s stock worth $718,000 after purchasing an additional 2,083 shares in the last quarter. Neo Ivy Capital Management acquired a new stake in shares of Radian Group in the 3rd quarter valued at approximately $2,402,000. Vestcor Inc grew its stake in shares of Radian Group by 85.5% in the third quarter. Vestcor Inc now owns 36,524 shares of the insurance provider’s stock valued at $1,267,000 after buying an additional 16,832 shares in the last quarter. Finally, Barclays PLC grew its stake in shares of Radian Group by 218.0% in the third quarter. Barclays PLC now owns 284,463 shares of the insurance provider’s stock valued at $9,868,000 after buying an additional 194,996 shares in the last quarter. Institutional investors own 95.33% of the company’s stock.

Radian Group Stock Performance

RDN opened at $31.93 on Thursday. The company has a quick ratio of 2.01, a current ratio of 2.01 and a debt-to-equity ratio of 0.42. The stock has a market cap of $4.76 billion, a price-to-earnings ratio of 8.27, a PEG ratio of 1.69 and a beta of 1.04. Radian Group Inc. has a 12-month low of $26.11 and a 12-month high of $37.86. The business has a 50 day moving average of $34.09 and a 200-day moving average of $33.98.

Radian Group (NYSE:RDN) last released its quarterly earnings data on Wednesday, November 6th. The insurance provider reported $1.03 EPS for the quarter, topping analysts’ consensus estimates of $0.88 by $0.15. The firm had revenue of $319.05 million during the quarter, compared to analysts’ expectations of $320.30 million. Radian Group had a net margin of 45.96% and a return on equity of 13.81%. On average, equities research analysts expect that Radian Group Inc. will post 4 earnings per share for the current year.

Radian Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders of record on Monday, November 25th were issued a $0.245 dividend. The ex-dividend date was Monday, November 25th. This represents a $0.98 annualized dividend and a yield of 3.07%. Radian Group’s dividend payout ratio is currently 25.39%.

Insider Buying and Selling at Radian Group

In other news, insider Derek Brummer sold 14,705 shares of the company’s stock in a transaction that occurred on Thursday, December 5th. The stock was sold at an average price of $34.65, for a total value of $509,528.25. Following the transaction, the insider now owns 171,830 shares of the company’s stock, valued at approximately $5,953,909.50. This represents a 7.88 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 2.16% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Barclays upped their price target on shares of Radian Group from $32.00 to $33.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 8th. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, Radian Group has a consensus rating of “Hold” and an average target price of $36.10.

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.