Principal Financial Group Inc. Lowers Position in Radian Group Inc. (NYSE:RDN)

Principal Financial Group Inc. cut its stake in Radian Group Inc. (NYSE:RDN) by 4.5% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 709,200 shares of the insurance provider’s stock after selling 33,664 shares during the quarter. Principal Financial Group Inc.’s holdings in Radian Group were worth $24,602,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Vanguard Group Inc. lifted its holdings in Radian Group by 0.3% in the first quarter. Vanguard Group Inc. now owns 20,439,073 shares of the insurance provider’s stock worth $684,096,000 after buying an additional 69,383 shares during the period. Acadian Asset Management LLC purchased a new stake in Radian Group in the first quarter worth about $1,442,000. Empowered Funds LLC purchased a new stake in Radian Group in the first quarter worth about $1,059,000. Mitsubishi UFJ Trust & Banking Corp lifted its holdings in Radian Group by 17.7% in the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 46,407 shares of the insurance provider’s stock worth $1,524,000 after buying an additional 6,967 shares during the period. Finally, Public Sector Pension Investment Board increased its stake in shares of Radian Group by 5.5% during the second quarter. Public Sector Pension Investment Board now owns 331,341 shares of the insurance provider’s stock valued at $10,305,000 after purchasing an additional 17,367 shares in the last quarter. 95.33% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Radian Group

In other Radian Group news, CAO Robert Quigley sold 7,500 shares of the business’s stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $35.65, for a total transaction of $267,375.00. Following the completion of the sale, the chief accounting officer now directly owns 48,392 shares in the company, valued at approximately $1,725,174.80. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Radian Group news, CAO Robert Quigley sold 7,500 shares of the business’s stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $35.65, for a total transaction of $267,375.00. Following the completion of the sale, the chief accounting officer now directly owns 48,392 shares in the company, valued at approximately $1,725,174.80. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Derek Brummer sold 35,153 shares of the business’s stock in a transaction on Thursday, September 5th. The shares were sold at an average price of $35.36, for a total transaction of $1,243,010.08. Following the sale, the insider now owns 186,535 shares of the company’s stock, valued at approximately $6,595,877.60. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 115,955 shares of company stock worth $4,130,140. Insiders own 2.16% of the company’s stock.

Radian Group Price Performance

Shares of NYSE RDN opened at $34.60 on Wednesday. Radian Group Inc. has a twelve month low of $24.92 and a twelve month high of $37.86. The firm has a market cap of $5.20 billion, a P/E ratio of 8.96, a PEG ratio of 1.71 and a beta of 1.04. The company has a 50 day moving average of $34.54 and a 200 day moving average of $33.36. The company has a quick ratio of 1.84, a current ratio of 0.45 and a debt-to-equity ratio of 0.34.

Radian Group (NYSE:RDN) last announced its quarterly earnings data on Wednesday, November 6th. The insurance provider reported $1.03 earnings per share for the quarter, topping analysts’ consensus estimates of $0.88 by $0.15. Radian Group had a net margin of 45.96% and a return on equity of 13.81%. The company had revenue of $319.05 million during the quarter, compared to analyst estimates of $320.30 million. As a group, research analysts expect that Radian Group Inc. will post 4 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on RDN. Keefe, Bruyette & Woods lifted their target price on shares of Radian Group from $36.00 to $39.00 and gave the company an “outperform” rating in a report on Monday, August 5th. Roth Mkm lifted their target price on shares of Radian Group from $35.00 to $40.00 and gave the company a “buy” rating in a report on Friday, August 2nd. Barclays lifted their target price on shares of Radian Group from $32.00 to $33.00 and gave the company an “equal weight” rating in a report on Tuesday, October 8th. Finally, Royal Bank of Canada lifted their target price on shares of Radian Group from $32.00 to $37.00 and gave the company a “sector perform” rating in a report on Friday, August 2nd. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $36.10.

Radian Group Company Profile

Radian Group Inc, together with its subsidiaries, engages in the mortgage and real estate services business in the United States. It operates through two segments, Mortgage Insurance and Homegenius segments. The Mortgage Insurance segment aggregates, manages, and distributes U.S. mortgage credit risk for mortgage lending institutions and mortgage credit investors, through private mortgage insurance on residential first-lien mortgage loans; and other credit risk management solutions, including contract underwriting.