Arizona State Retirement System Has $1.32 Million Stock Holdings in Radian Group Inc. (NYSE:RDN)

Arizona State Retirement System lifted its position in shares of Radian Group Inc. (NYSE:RDN) by 0.8% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 42,413 shares of the insurance provider’s stock after purchasing an additional 321 shares during the period. Arizona State Retirement System’s holdings in Radian Group were worth $1,319,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Fifth Third Bancorp boosted its holdings in shares of Radian Group by 859.3% during the 2nd quarter. Fifth Third Bancorp now owns 1,295 shares of the insurance provider’s stock worth $40,000 after buying an additional 1,160 shares during the period. Johnson Financial Group Inc. bought a new stake in shares of Radian Group during the 4th quarter worth about $46,000. Hexagon Capital Partners LLC boosted its holdings in shares of Radian Group by 75.3% during the 1st quarter. Hexagon Capital Partners LLC now owns 1,650 shares of the insurance provider’s stock worth $55,000 after buying an additional 709 shares during the period. CWM LLC boosted its holdings in shares of Radian Group by 539.9% during the 2nd quarter. CWM LLC now owns 1,990 shares of the insurance provider’s stock worth $62,000 after buying an additional 1,679 shares during the period. Finally, AXS Investments LLC bought a new stake in shares of Radian Group during the 4th quarter worth about $66,000. Institutional investors own 95.33% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently commented on RDN. Keefe, Bruyette & Woods lifted their target price on shares of Radian Group from $36.00 to $39.00 and gave the stock an “outperform” rating in a report on Monday, August 5th. Royal Bank of Canada lifted their target price on shares of Radian Group from $32.00 to $37.00 and gave the stock a “sector perform” rating in a report on Friday, August 2nd. Barclays boosted their price objective on shares of Radian Group from $30.00 to $32.00 and gave the company an “equal weight” rating in a report on Friday, August 2nd. Roth Mkm boosted their price objective on shares of Radian Group from $35.00 to $40.00 and gave the company a “buy” rating in a report on Friday, August 2nd. Finally, UBS Group boosted their price objective on shares of Radian Group from $30.00 to $31.50 and gave the company a “neutral” rating in a report on Wednesday, May 22nd. Four equities 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, Radian Group has a consensus rating of “Hold” and a consensus price target of $35.90.

Insider Activity

In other news, CFO Sumita Pandit sold 3,817 shares of the business’s 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CAO Robert Quigley sold 7,500 shares of the company’s stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $35.65, for a total transaction of $267,375.00. Following the completion of the transaction, the chief accounting officer now directly owns 48,392 shares in the company, valued at approximately $1,725,174.80. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Sumita Pandit sold 3,817 shares of the company’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 transaction of $130,655.91. The disclosure for this sale can be found here. In the last ninety days, insiders sold 119,772 shares of company stock worth $4,260,796. 2.16% of the stock is currently owned by corporate insiders.

Radian Group Stock Performance

NYSE RDN opened at $34.24 on Friday. The firm has a 50-day moving average price of $34.66 and a two-hundred day moving average price of $32.22. The company has a market capitalization of $5.16 billion, a P/E ratio of 9.06, a P/E/G ratio of 1.86 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 12-month low of $24.56 and a 12-month high of $37.86.

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

Radian Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 11th. Stockholders of record on Monday, August 26th were given a $0.245 dividend. This represents a $0.98 annualized dividend and a dividend yield of 2.86%. The ex-dividend date of this dividend was Monday, August 26th. Radian Group’s payout ratio is presently 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.