Louisiana State Employees Retirement System Reduces Stock Position in Radian Group Inc. $RDN

Louisiana State Employees Retirement System lowered its stake in Radian Group Inc. (NYSE:RDN) by 8.1% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 62,800 shares of the insurance provider’s stock after selling 5,500 shares during the quarter. Louisiana State Employees Retirement System’s holdings in Radian Group were worth $2,262,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Charles Schwab Investment Management Inc. boosted its holdings in Radian Group by 4.0% in the first quarter. Charles Schwab Investment Management Inc. now owns 6,340,962 shares of the insurance provider’s stock worth $209,696,000 after purchasing an additional 246,799 shares during the last quarter. American Century Companies Inc. boosted its holdings in Radian Group by 9.2% in the first quarter. American Century Companies Inc. now owns 3,658,250 shares of the insurance provider’s stock worth $120,978,000 after purchasing an additional 306,889 shares during the last quarter. Ameriprise Financial Inc. boosted its holdings in Radian Group by 5.3% in the first quarter. Ameriprise Financial Inc. now owns 1,569,410 shares of the insurance provider’s stock worth $51,902,000 after purchasing an additional 79,159 shares during the last quarter. Jane Street Group LLC raised its position in Radian Group by 11,446.4% in the first quarter. Jane Street Group LLC now owns 1,310,517 shares of the insurance provider’s stock worth $43,339,000 after acquiring an additional 1,299,167 shares during the period. Finally, Nuveen LLC bought a new position in Radian Group in the first quarter worth approximately $40,749,000. Hedge funds and other institutional investors own 95.33% of the company’s stock.

Analyst Ratings Changes

Several research analysts have weighed in on the stock. Keefe, Bruyette & Woods downgraded shares of Radian Group from a “moderate buy” rating to a “hold” rating and set a $38.00 price target on the stock. in a research report on Monday, July 7th. Barclays increased their price target on shares of Radian Group from $35.00 to $37.00 and gave the stock a “cautious” rating in a research report on Monday. Weiss Ratings reiterated a “buy (a-)” rating on shares of Radian Group in a research report on Wednesday. UBS Group reiterated a “neutral” rating and issued a $38.00 price target (up from $36.00) on shares of Radian Group in a research report on Monday, July 14th. Finally, Zacks Research upgraded shares of Radian Group from a “hold” rating to a “strong-buy” rating in a research report on Monday, September 22nd. Two equities research analysts have rated the stock with a Strong Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $37.50.

Insiders Place Their Bets

In related news, EVP Edward J. Hoffman sold 10,000 shares of the firm’s stock in a transaction on Thursday, September 18th. The shares were sold at an average price of $37.00, for a total transaction of $370,000.00. Following the completion of the transaction, the executive vice president directly owned 153,708 shares of the company’s stock, valued at approximately $5,687,196. This trade represents a 6.11% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 2.01% of the company’s stock.

Radian Group Stock Down 1.5%

Shares of RDN stock opened at $33.32 on Friday. The company has a market capitalization of $4.51 billion, a price-to-earnings ratio of 8.39 and a beta of 0.73. Radian Group Inc. has a one year low of $29.32 and a one year high of $38.84. The company’s fifty day moving average price is $34.98 and its 200-day moving average price is $34.10. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.68 and a quick ratio of 1.68.

Radian Group (NYSE:RDN) last announced its quarterly earnings data on Wednesday, July 30th. The insurance provider reported $1.01 EPS for the quarter, beating the consensus estimate of $0.93 by $0.08. The firm had revenue of $318.00 million for the quarter, compared to the consensus estimate of $321.97 million. Radian Group had a net margin of 45.62% and a return on equity of 13.25%. The company’s revenue was down .9% on a year-over-year basis. During the same period last year, the firm earned $0.98 EPS. Sell-side analysts expect that Radian Group Inc. will post 3.79 EPS for the current fiscal year.

Radian Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 9th. Investors of record on Monday, August 25th were paid a dividend of $0.255 per share. This represents a $1.02 annualized dividend and a yield of 3.1%. The ex-dividend date of this dividend was Monday, August 25th. Radian Group’s dividend payout ratio (DPR) is presently 25.69%.

About Radian Group

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.