Eagle Asset Management Inc. reduced its position in shares of Radian Group Inc (NYSE:RDN) by 6.8% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 848,026 shares of the insurance provider’s stock after selling 62,094 shares during the quarter. Eagle Asset Management Inc.’s holdings in Radian Group were worth $13,754,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors have also recently bought and sold shares of RDN. Mount Yale Investment Advisors LLC bought a new stake in shares of Radian Group during the 1st quarter worth $101,000. TLP Group LLC boosted its holdings in shares of Radian Group by 136.5% during the 1st quarter. TLP Group LLC now owns 8,920 shares of the insurance provider’s stock worth $170,000 after buying an additional 5,149 shares during the period. GWM Advisors LLC bought a new stake in shares of Radian Group during the 1st quarter worth $206,000. Robeco Institutional Asset Management B.V. bought a new stake in shares of Radian Group during the 1st quarter worth $276,000. Finally, Private Advisor Group LLC bought a new stake in shares of Radian Group during the 1st quarter worth $292,000. 90.96% of the stock is owned by institutional investors and hedge funds.
RDN has been the subject of several recent analyst reports. ValuEngine downgraded shares of Radian Group from a “hold” rating to a “sell” rating in a report on Monday, June 4th. Compass Point reduced their price target on shares of Radian Group from $24.25 to $23.25 and set a “buy” rating for the company in a report on Friday, April 27th. MKM Partners reduced their price target on shares of Radian Group from $27.00 to $20.00 and set a “buy” rating for the company in a report on Tuesday, June 5th. Zacks Investment Research raised shares of Radian Group from a “hold” rating to a “buy” rating and set a $19.00 price target for the company in a report on Tuesday, July 17th. Finally, TheStreet raised shares of Radian Group from a “c+” rating to a “b-” rating in a report on Tuesday, July 31st. Five equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Radian Group currently has an average rating of “Buy” and a consensus target price of $23.11.
Shares of Radian Group stock opened at $20.04 on Tuesday. The company has a quick ratio of 1.48, a current ratio of 1.48 and a debt-to-equity ratio of 0.32. Radian Group Inc has a fifty-two week low of $14.06 and a fifty-two week high of $23.49. The firm has a market capitalization of $4.22 billion, a price-to-earnings ratio of 10.95, a P/E/G ratio of 1.59 and a beta of 1.47.
Radian Group (NYSE:RDN) last issued its quarterly earnings results on Thursday, July 26th. The insurance provider reported $0.69 earnings per share for the quarter, beating analysts’ consensus estimates of $0.60 by $0.09. Radian Group had a net margin of 31.87% and a return on equity of 16.10%. The firm had revenue of $319.30 million during the quarter, compared to the consensus estimate of $320.34 million. During the same period in the prior year, the firm earned $0.48 EPS. The business’s revenue was up 5.4% on a year-over-year basis. equities research analysts expect that Radian Group Inc will post 2.49 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 7th. Stockholders of record on Monday, August 27th will be paid a $0.0025 dividend. This represents a $0.01 dividend on an annualized basis and a dividend yield of 0.05%. The ex-dividend date of this dividend is Friday, August 24th. Radian Group’s dividend payout ratio is 0.55%.
Radian Group Company Profile
Radian Group Inc, through its subsidiaries, provides mortgage and real estate products and services in the United States. It operates through two segments, Mortgage Insurance and Services. The Mortgage Insurance segment offers credit-related insurance coverage, primarily through private mortgage insurance, as well as other credit risk management solutions to mortgage lending institutions; and primary mortgage insurance coverage on residential first-lien mortgage loans.
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