Geode Capital Management LLC Has $120.71 Million Holdings in Radian Group Inc. $RDN

Geode Capital Management LLC trimmed its holdings in shares of Radian Group Inc. (NYSE:RDN) by 5.2% during the second quarter, Holdings Channel.com reports. The fund owned 3,350,815 shares of the insurance provider’s stock after selling 182,325 shares during the quarter. Geode Capital Management LLC’s holdings in Radian Group were worth $120,709,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of the business. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in shares of Radian Group during the second quarter worth approximately $69,714,000. Jane Street Group LLC grew its position in Radian Group by 11,446.4% during the first quarter. Jane Street Group LLC now owns 1,310,517 shares of the insurance provider’s stock worth $43,339,000 after buying an additional 1,299,167 shares in the last quarter. Nuveen LLC bought a new position in Radian Group during the 1st quarter worth $40,749,000. Millennium Management LLC bought a new position in Radian Group during the 1st quarter worth $27,282,000. Finally, Deutsche Bank AG raised its holdings in Radian Group by 161.9% in the 1st quarter. Deutsche Bank AG now owns 553,737 shares of the insurance provider’s stock valued at $18,312,000 after acquiring an additional 342,330 shares in the last quarter. Institutional investors own 95.33% of the company’s stock.

Insider Activity

In other news, EVP Edward J. Hoffman sold 10,000 shares of the business’s stock in a transaction dated Thursday, September 18th. The stock was 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 owned 153,708 shares of the company’s stock, valued at approximately $5,687,196. The trade was a 6.11% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 2.16% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on RDN. UBS Group reduced their target price on Radian Group from $43.00 to $40.00 and set a “neutral” rating on the stock in a report on Wednesday, October 15th. Zacks Research raised shares of Radian Group from a “hold” rating to a “strong-buy” rating in a research report on Monday, September 22nd. Barclays lifted their price target on shares of Radian Group from $35.00 to $37.00 and gave the stock a “cautious” rating in a report on Monday, October 6th. Finally, Weiss Ratings upgraded Radian Group from a “buy (b+)” rating to a “buy (a-)” rating in a research note on Monday. Two analysts have rated the stock with a Strong Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $38.00.

Radian Group Stock Performance

NYSE:RDN opened at $34.54 on Thursday. The business’s fifty day moving average is $34.73 and its 200 day moving average is $34.52. The firm has a market cap of $4.68 billion, a price-to-earnings ratio of 8.70 and a beta of 0.81. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.68 and a current ratio of 1.68. Radian Group Inc. has a 52-week low of $29.32 and a 52-week high of $38.84.

Radian Group (NYSE:RDN) last announced its quarterly earnings results on Wednesday, November 5th. The insurance provider reported $1.15 EPS for the quarter, beating the consensus estimate of $0.95 by $0.20. Radian Group had a net margin of 45.62% and a return on equity of 13.25%. The firm had revenue of $303.19 million during the quarter, compared to the consensus estimate of $308.77 million. During the same period last year, the firm earned $1.03 EPS. The business’s quarterly revenue was down 3.3% compared to the same quarter last year. Research analysts predict that Radian Group Inc. will post 3.79 EPS for the current year.

Radian Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 9th. Shareholders of record on Monday, November 24th will be issued a $0.255 dividend. The ex-dividend date of this dividend is Monday, November 24th. This represents a $1.02 annualized dividend and a dividend yield of 3.0%. Radian Group’s dividend payout ratio (DPR) is presently 25.44%.

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.