Radian Group Inc. (NYSE:RDN) Sees Significant Decline in Short Interest

Radian Group Inc. (NYSE:RDN) saw a large decline in short interest during the month of March. As of March 31st, there was short interest totalling 9,460,000 shares, a decline of 24.4% from the March 15th total of 12,520,000 shares. Based on an average trading volume of 1,830,000 shares, the short-interest ratio is currently 5.2 days. Approximately 6.8% of the company’s stock are sold short.

Radian Group Stock Up 0.8 %

Shares of RDN stock opened at $31.64 on Monday. The company has a current ratio of 2.87, a quick ratio of 2.01 and a debt-to-equity ratio of 0.50. The stock has a market cap of $4.47 billion, a P/E ratio of 8.05, a P/E/G ratio of 1.73 and a beta of 0.75. The stock has a 50 day moving average of $32.18 and a 200 day moving average of $33.11. Radian Group has a twelve month low of $29.55 and a twelve month high of $37.86.

Radian Group (NYSE:RDN) last released its earnings results on Wednesday, February 5th. The insurance provider reported $1.09 EPS for the quarter, topping analysts’ consensus estimates of $0.92 by $0.17. Radian Group had a net margin of 46.85% and a return on equity of 13.96%. As a group, sell-side analysts expect that Radian Group will post 3.79 EPS for the current year.

Radian Group Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 11th. Shareholders of record on Monday, February 24th were issued a $0.255 dividend. This represents a $1.02 annualized dividend and a yield of 3.22%. This is a positive change from Radian Group’s previous quarterly dividend of $0.25. The ex-dividend date was Monday, February 24th. Radian Group’s payout ratio is presently 25.95%.

Analysts Set New Price Targets

RDN has been the subject of a number of analyst reports. Keefe, Bruyette & Woods cut their price target on Radian Group from $40.00 to $37.00 and set an “outperform” rating for the company in a research note on Tuesday, April 8th. UBS Group raised their price target on Radian Group from $33.00 to $34.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 19th. Three analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $36.20.

Insider Buying and Selling

In other Radian Group news, Director Gregory Serio sold 4,100 shares of the stock in a transaction dated Friday, February 28th. The stock was sold at an average price of $32.65, for a total value of $133,865.00. Following the transaction, the director now owns 344 shares of the company’s stock, valued at approximately $11,231.60. This represents a 92.26 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.16% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of RDN. Picton Mahoney Asset Management lifted its holdings in Radian Group by 54.3% during the 4th quarter. Picton Mahoney Asset Management now owns 972 shares of the insurance provider’s stock worth $31,000 after buying an additional 342 shares during the last quarter. V Square Quantitative Management LLC lifted its stake in shares of Radian Group by 61.5% in the 4th quarter. V Square Quantitative Management LLC now owns 1,274 shares of the insurance provider’s stock worth $40,000 after acquiring an additional 485 shares during the period. Covestor Ltd increased its position in Radian Group by 35.6% during the 4th quarter. Covestor Ltd now owns 1,351 shares of the insurance provider’s stock worth $43,000 after purchasing an additional 355 shares during the period. Smartleaf Asset Management LLC increased its holdings in shares of Radian Group by 124.8% in the 4th quarter. Smartleaf Asset Management LLC now owns 2,378 shares of the insurance provider’s stock valued at $75,000 after purchasing an additional 1,320 shares in the last quarter. Finally, Jones Financial Companies Lllp grew its holdings in Radian Group by 735.8% in the fourth quarter. Jones Financial Companies Lllp now owns 2,407 shares of the insurance provider’s stock valued at $76,000 after purchasing an additional 2,119 shares during the last quarter. Hedge funds and other institutional investors own 95.33% of the company’s stock.

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.