State Board of Administration of Florida Retirement System cut its holdings in Radian Group Inc (NYSE:RDN) by 7.8% in the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 229,182 shares of the insurance provider’s stock after selling 19,432 shares during the quarter. State Board of Administration of Florida Retirement System’s holdings in Radian Group were worth $4,753,000 at the end of the most recent reporting period.
A number of other institutional investors have also added to or reduced their stakes in RDN. AdvisorNet Financial Inc purchased a new stake in Radian Group in the fourth quarter valued at about $33,000. FNY Investment Advisers LLC purchased a new stake in Radian Group in the fourth quarter valued at about $37,000. Toronto Dominion Bank purchased a new stake in Radian Group in the fourth quarter valued at about $52,000. Bank of Montreal Can raised its stake in Radian Group by 22.7% in the fourth quarter. Bank of Montreal Can now owns 8,422 shares of the insurance provider’s stock valued at $138,000 after buying an additional 1,557 shares during the last quarter. Finally, Actinver Wealth Management Inc. purchased a new stake in Radian Group in the fourth quarter valued at about $169,000. Institutional investors own 96.59% of the company’s stock.
Shares of RDN stock traded up $0.23 during mid-day trading on Friday, reaching $22.63. The stock had a trading volume of 22,050 shares, compared to its average volume of 1,241,054. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.87 and a current ratio of 1.87. The firm has a market capitalization of $4.73 billion, a PE ratio of 8.42, a P/E/G ratio of 1.61 and a beta of 1.63. Radian Group Inc has a 1-year low of $14.77 and a 1-year high of $24.62.
Radian Group (NYSE:RDN) last announced its quarterly earnings data on Tuesday, April 30th. The insurance provider reported $0.73 earnings per share for the quarter, beating analysts’ consensus estimates of $0.68 by $0.05. The business had revenue of $363.63 million for the quarter, compared to analyst estimates of $342.44 million. Radian Group had a return on equity of 17.82% and a net margin of 49.25%. The company’s revenue was up 24.7% on a year-over-year basis. During the same period in the prior year, the company earned $0.59 earnings per share. Sell-side analysts forecast that Radian Group Inc will post 2.83 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 7th. Stockholders of record on Monday, May 27th will be issued a $0.0025 dividend. This represents a $0.01 dividend on an annualized basis and a dividend yield of 0.04%. The ex-dividend date is Thursday, May 23rd. Radian Group’s dividend payout ratio is presently 0.37%.
A number of equities research analysts have commented on the company. MKM Partners increased their price target on Radian Group to $30.00 and gave the company a “buy” rating in a research note on Thursday, May 2nd. Zacks Investment Research cut Radian Group from a “hold” rating to a “sell” rating in a research note on Wednesday, April 10th. ValuEngine upgraded Radian Group from a “sell” rating to a “hold” rating in a research note on Tuesday, January 29th. Compass Point reiterated a “buy” rating and issued a $30.00 price target (up from $26.50) on shares of Radian Group in a research note on Thursday, May 2nd. Finally, Bank of America reiterated a “buy” rating and issued a $27.00 price target (up from $23.00) on shares of Radian Group in a research note on Wednesday, May 1st. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and four have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $24.71.
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Radian Group Company Profile
Radian Group Inc, through its subsidiaries, engages in the mortgage and real estate services business in the United States. It operates in two segments, Mortgage Insurance and Services. The Mortgage Insurance segment offers credit-related insurance coverage, primarily through private mortgage insurance on residential first-lien mortgage loans, as well as other credit risk management solutions to mortgage lending institutions and mortgage credit investors.
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