Vaughan Nelson Investment Management L.P. cut its stake in Radian Group Inc (NYSE:RDN) by 18.9% in the first quarter, HoldingsChannel reports. The firm owned 542,460 shares of the insurance provider’s stock after selling 126,800 shares during the quarter. Vaughan Nelson Investment Management L.P.’s holdings in Radian Group were worth $11,251,000 at the end of the most recent reporting period.
Several other hedge funds also recently bought and sold shares of the company. AdvisorNet Financial Inc acquired a new position in Radian Group in the fourth quarter valued at approximately $33,000. Rockefeller Capital Management L.P. acquired a new position in Radian Group in the first quarter valued at approximately $35,000. Toronto Dominion Bank acquired a new position in Radian Group in the fourth quarter valued at approximately $52,000. Bank of Montreal Can lifted its holdings 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 acquiring an additional 1,557 shares during the last quarter. Finally, Actinver Wealth Management Inc. acquired a new position in Radian Group in the fourth quarter valued at approximately $169,000. Institutional investors and hedge funds own 94.03% of the company’s stock.
NYSE:RDN traded down $0.32 during trading hours on Tuesday, reaching $23.07. 58,116 shares of the stock were exchanged, compared to its average volume of 1,278,897. The company has a quick ratio of 1.87, a current ratio of 1.87 and a debt-to-equity ratio of 0.28. Radian Group Inc has a twelve month low of $14.77 and a twelve month high of $24.62. The stock has a market capitalization of $4.84 billion, a price-to-earnings ratio of 8.60, a price-to-earnings-growth ratio of 1.64 and a beta of 1.55.
Radian Group (NYSE:RDN) last released its quarterly earnings results on Tuesday, April 30th. The insurance provider reported $0.73 EPS for the quarter, topping analysts’ consensus estimates of $0.68 by $0.05. Radian Group had a return on equity of 17.82% and a net margin of 49.25%. The company had revenue of $363.63 million for the quarter, compared to analysts’ expectations of $342.44 million. During the same period in the prior year, the firm earned $0.59 earnings per share. The firm’s revenue was up 24.7% compared to the same quarter last year. On average, sell-side analysts expect that Radian Group Inc will post 2.83 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Friday, June 7th. Shareholders of record on Monday, May 27th were paid a dividend of $0.0025 per share. This represents a $0.01 dividend on an annualized basis and a yield of 0.04%. The ex-dividend date was Thursday, May 23rd. Radian Group’s dividend payout ratio (DPR) is 0.37%.
A number of research analysts recently commented on RDN shares. Bank of America reiterated a “buy” rating and issued a $27.00 price objective (up from $23.00) on shares of Radian Group in a report on Wednesday, May 1st. Compass Point reiterated a “buy” rating and issued a $30.00 price objective (up from $26.50) on shares of Radian Group in a report on Thursday, May 2nd. Zacks Investment Research cut Radian Group from a “buy” rating to a “hold” rating in a report on Wednesday, February 13th. Finally, MKM Partners upped their price objective on Radian Group to $30.00 and gave the company a “buy” rating in a report on Thursday, May 2nd. 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. The stock has a consensus rating of “Hold” and an average price target of $24.71.
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About Radian Group
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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