Principal Financial Group Inc. Decreases Holdings in Radian Group Inc. (NYSE:RDN)

Principal Financial Group Inc. decreased its holdings in Radian Group Inc. (NYSE:RDN) by 4.5% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 709,200 shares of the insurance provider’s stock after selling 33,664 shares during the period. Principal Financial Group Inc. owned 0.48% of Radian Group worth $24,602,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Assenagon Asset Management S.A. lifted its stake in shares of Radian Group by 272.8% in the 3rd quarter. Assenagon Asset Management S.A. now owns 828,058 shares of the insurance provider’s stock valued at $28,725,000 after purchasing an additional 605,956 shares during the last quarter. Point72 Asset Management L.P. lifted its position in Radian Group by 460.4% in the second quarter. Point72 Asset Management L.P. now owns 660,693 shares of the insurance provider’s stock worth $20,548,000 after buying an additional 542,801 shares during the last quarter. American Century Companies Inc. boosted its stake in Radian Group by 18.2% during the second quarter. American Century Companies Inc. now owns 2,833,950 shares of the insurance provider’s stock worth $88,136,000 after buying an additional 435,751 shares during the period. Healthcare of Ontario Pension Plan Trust Fund bought a new position in Radian Group during the second quarter valued at $6,273,000. Finally, Barclays PLC raised 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 acquiring an additional 194,996 shares during the period. Hedge funds and other institutional investors own 95.33% of the company’s stock.

Radian Group Stock Up 0.3 %

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

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

Radian Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Investors 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 dividend on an annualized basis and a dividend yield of 3.07%. Radian Group’s payout ratio is 25.39%.

Insider Buying and Selling

In other Radian Group news, insider Derek Brummer sold 14,705 shares of the company’s stock in a transaction 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 completion of the sale, the insider now directly owns 171,830 shares in the company, valued at approximately $5,953,909.50. This represents a 7.88 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 2.16% of the stock is owned by insiders.

Analysts Set New Price Targets

Separately, Barclays lifted 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 note on Tuesday, October 8th. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $36.10.

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.