BlackRock Inc. lessened its holdings in Radian Group Inc (NYSE:RDN) by 0.9% during the first quarter, HoldingsChannel.com reports. The firm owned 15,537,800 shares of the insurance provider’s stock after selling 140,972 shares during the quarter. BlackRock Inc. owned about 0.07% of Radian Group worth $322,254,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also made changes to their positions in RDN. AdvisorNet Financial Inc purchased a new stake in Radian Group in the fourth quarter worth about $33,000. Toronto Dominion Bank purchased a new stake in Radian Group in the fourth quarter worth about $52,000. Bank of Montreal Can grew 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 worth $138,000 after purchasing an additional 1,557 shares during the period. Actinver Wealth Management Inc. purchased a new stake in Radian Group in the fourth quarter worth about $169,000. Finally, Sullivan Bruyette Speros & Blaney LLC grew its holdings in Radian Group by 5.6% in the first quarter. Sullivan Bruyette Speros & Blaney LLC now owns 10,562 shares of the insurance provider’s stock worth $219,000 after purchasing an additional 562 shares during the period. Institutional investors and hedge funds own 94.03% of the company’s stock.
NYSE:RDN opened at $22.88 on Friday. Radian Group Inc has a 52 week low of $14.77 and a 52 week high of $24.62. 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 company has a market cap of $4.80 billion, a PE ratio of 8.51, a PEG ratio of 1.64 and a beta of 1.56.
Radian Group (NYSE:RDN) last posted its quarterly earnings results on Tuesday, April 30th. The insurance provider reported $0.73 EPS for the quarter, beating the Zacks’ consensus estimate of $0.68 by $0.05. Radian Group had a net margin of 49.25% and a return on equity of 17.82%. The firm had revenue of $363.63 million for the quarter, compared to analysts’ expectations of $342.44 million. During the same quarter in the prior year, the company posted $0.59 earnings per share. The business’s revenue for the quarter was up 24.7% on a year-over-year basis. As a group, equities analysts predict that Radian Group Inc will post 2.83 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Friday, June 7th. Stockholders of record on Monday, May 27th were issued a dividend of $0.0025 per share. This represents a $0.01 dividend on an annualized basis and a dividend yield of 0.04%. The ex-dividend date was Thursday, May 23rd. Radian Group’s payout ratio is 0.37%.
RDN has been the topic of a number of recent analyst reports. Bank of America reiterated a “buy” rating and set a $27.00 price target (up previously from $23.00) on shares of Radian Group in a report on Wednesday, May 1st. Compass Point reiterated a “buy” rating and set a $30.00 price target (up previously from $26.50) on shares of Radian Group in a report on Thursday, May 2nd. Zacks Investment Research cut shares of Radian Group from a “hold” rating to a “sell” rating in a report on Tuesday, April 23rd. Finally, MKM Partners increased their price target on shares of Radian Group to $30.00 and gave the company a “buy” rating in a report on Thursday, May 2nd. One research analyst has rated the stock with a sell rating, three have issued a hold rating and four have given a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price 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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