Canada Pension Plan Investment Board raised its holdings in shares of Radian Group Inc. (NYSE:RDN) by 28.6% in the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 126,200 shares of the insurance provider’s stock after acquiring an additional 28,100 shares during the period. Canada Pension Plan Investment Board owned approximately 0.06% of Radian Group worth $2,359,000 at the end of the most recent reporting period.
Several other institutional investors have also modified their holdings of the business. Vanguard Group Inc. raised its position in shares of Radian Group by 5.0% during the 2nd quarter. Vanguard Group Inc. now owns 18,116,304 shares of the insurance provider’s stock valued at $296,201,000 after acquiring an additional 859,950 shares during the last quarter. LSV Asset Management raised its position in shares of Radian Group by 0.6% during the 2nd quarter. LSV Asset Management now owns 10,409,782 shares of the insurance provider’s stock valued at $170,199,000 after acquiring an additional 58,304 shares during the last quarter. Northern Trust Corp raised its position in shares of Radian Group by 24.6% during the 2nd quarter. Northern Trust Corp now owns 5,305,329 shares of the insurance provider’s stock valued at $86,742,000 after acquiring an additional 1,048,954 shares during the last quarter. Capital World Investors raised its position in shares of Radian Group by 42.7% during the 2nd quarter. Capital World Investors now owns 4,930,000 shares of the insurance provider’s stock valued at $80,606,000 after acquiring an additional 1,475,000 shares during the last quarter. Finally, Boston Partners raised its position in shares of Radian Group by 2.8% during the 2nd quarter. Boston Partners now owns 3,412,019 shares of the insurance provider’s stock valued at $55,787,000 after acquiring an additional 92,467 shares during the last quarter. Institutional investors own 91.34% of the company’s stock.
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In other news, CEO Richard G. Thornberry acquired 5,000 shares of the stock in a transaction that occurred on Monday, August 21st. The stock was acquired at an average price of $16.54 per share, for a total transaction of $82,700.00. Following the transaction, the chief executive officer now directly owns 20,000 shares in the company, valued at $330,800. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 1.06% of the stock is owned by corporate insiders.
Several analysts have commented on RDN shares. Deutsche Bank AG upped their target price on shares of Radian Group from $21.00 to $23.00 and gave the company a “buy” rating in a research report on Wednesday, October 25th. BTIG Research reiterated a “buy” rating and set a $22.00 target price on shares of Radian Group in a research report on Sunday, October 29th. Compass Point upgraded shares of Radian Group from a “neutral” rating to a “buy” rating and upped their target price for the company from $21.75 to $24.75 in a research report on Friday, October 27th. ValuEngine cut shares of Radian Group from a “strong-buy” rating to a “buy” rating in a research report on Thursday, September 7th. Finally, Zacks Investment Research upgraded shares of Radian Group from a “hold” rating to a “buy” rating and set a $21.00 target price for the company in a research report on Tuesday, October 10th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $22.59.
Shares of Radian Group Inc. (NYSE RDN) opened at $20.87 on Friday. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.23 and a quick ratio of 1.23. Radian Group Inc. has a 1 year low of $14.39 and a 1 year high of $21.59. The company has a market cap of $4,490.00, a price-to-earnings ratio of 11.55, a P/E/G ratio of 2.26 and a beta of 1.59.
Radian Group (NYSE:RDN) last released its quarterly earnings data on Thursday, October 26th. The insurance provider reported $0.46 EPS for the quarter, beating the Zacks’ consensus estimate of $0.42 by $0.04. Radian Group had a net margin of 14.88% and a return on equity of 12.99%. The business had revenue of $312.05 million during the quarter, compared to analysts’ expectations of $321.10 million. During the same quarter in the prior year, the company earned $0.41 EPS. The firm’s quarterly revenue was down 2.8% on a year-over-year basis. research analysts expect that Radian Group Inc. will post 1.76 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 8th. Investors of record on Monday, November 27th will be given a $0.002 dividend. This represents a $0.01 dividend on an annualized basis and a dividend yield of 0.04%. The ex-dividend date of this dividend is Friday, November 24th. Radian Group’s dividend payout ratio is currently 1.27%.
Radian Group declared that its Board of Directors has authorized a share buyback program on Wednesday, August 9th that authorizes the company to repurchase $50.00 million in shares. This repurchase authorization authorizes the insurance provider to purchase up to 1.3% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s management believes its shares are undervalued.
Radian Group Profile
Radian Group Inc is an insurance holding company that provides mortgage insurance, and products and services to the real estate and mortgage finance industries. The Company operates in two segments: Mortgage Insurance and Services. The Mortgage Insurance segment provides credit-related insurance coverage, principally through private mortgage insurance to mortgage lending institutions.
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