Truist Financial Corp Reduces Stock Position in Radian Group Inc. (NYSE:RDN)

Truist Financial Corp decreased its holdings in Radian Group Inc. (NYSE:RDN) by 23.6% in the second quarter, Holdings Channel reports. The fund owned 494,425 shares of the insurance provider’s stock after selling 153,130 shares during the quarter. Truist Financial Corp’s holdings in Radian Group were worth $15,377,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Fifth Third Bancorp boosted its holdings in shares of Radian Group by 859.3% in the 2nd quarter. Fifth Third Bancorp now owns 1,295 shares of the insurance provider’s stock worth $40,000 after purchasing an additional 1,160 shares during the period. Hexagon Capital Partners LLC lifted its holdings in shares of Radian Group by 75.3% in the 1st quarter. Hexagon Capital Partners LLC now owns 1,650 shares of the insurance provider’s stock worth $55,000 after acquiring an additional 709 shares during the last quarter. CWM LLC boosted its position in shares of Radian Group by 539.9% during the second quarter. CWM LLC now owns 1,990 shares of the insurance provider’s stock valued at $62,000 after buying an additional 1,679 shares during the period. Public Employees Retirement System of Ohio bought a new position in shares of Radian Group during the first quarter valued at approximately $105,000. Finally, Covestor Ltd raised its holdings in shares of Radian Group by 69.2% in the first quarter. Covestor Ltd now owns 3,646 shares of the insurance provider’s stock worth $122,000 after buying an additional 1,491 shares during the period. Hedge funds and other institutional investors own 95.33% of the company’s stock.

Radian Group Trading Up 1.7 %

Shares of NYSE:RDN opened at $34.81 on Friday. The company has a market capitalization of $5.24 billion, a PE ratio of 9.21, a P/E/G ratio of 1.89 and a beta of 1.05. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 0.45. Radian Group Inc. has a 12-month low of $24.62 and a 12-month high of $37.86. The business’s fifty day simple moving average is $35.02 and its 200-day simple moving average is $32.79.

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

Radian Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 11th. Stockholders of record on Monday, August 26th were paid a dividend of $0.245 per share. The ex-dividend date of this dividend was Monday, August 26th. This represents a $0.98 dividend on an annualized basis and a dividend yield of 2.82%. Radian Group’s payout ratio is 25.93%.

Insider Transactions at Radian Group

In related news, insider Derek Brummer sold 35,153 shares of Radian Group 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 completion of the sale, the insider now directly owns 186,535 shares in the company, valued at $6,595,877.60. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, EVP Eric Ray sold 53,791 shares of the stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $35.67, for a total value of $1,918,724.97. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Derek Brummer sold 35,153 shares of the firm’s stock in a transaction that occurred on Thursday, September 5th. The stock was sold at an average price of $35.36, for a total transaction of $1,243,010.08. Following the transaction, the insider now directly owns 186,535 shares of the company’s stock, valued at $6,595,877.60. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 119,772 shares of company stock worth $4,260,796. Insiders own 2.16% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently weighed in on the company. Barclays lifted their target price on Radian Group from $30.00 to $32.00 and gave the stock an “equal weight” rating in a research report on Friday, August 2nd. Roth Mkm lifted 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. Royal Bank of Canada raised their target price on shares of Radian Group from $32.00 to $37.00 and gave the stock a “sector perform” rating in a research report on Friday, August 2nd. Finally, Keefe, Bruyette & Woods boosted their price target on Radian Group from $36.00 to $39.00 and gave the company an “outperform” rating in a report on Monday, August 5th. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $35.90.

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.