Royal Bank of Canada Has $20.58 Million Holdings in Radian Group Inc. $RDN

Royal Bank of Canada raised its position in Radian Group Inc. (NYSE:RDN) by 5.9% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 622,054 shares of the insurance provider’s stock after acquiring an additional 34,396 shares during the quarter. Royal Bank of Canada owned approximately 0.47% of Radian Group worth $20,578,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of RDN. Charles Schwab Investment Management Inc. increased its holdings in shares of Radian Group by 1.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 5,959,463 shares of the insurance provider’s stock worth $214,481,000 after acquiring an additional 63,437 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Radian Group by 4.0% in the first quarter. Dimensional Fund Advisors LP now owns 5,948,335 shares of the insurance provider’s stock valued at $196,773,000 after purchasing an additional 230,912 shares during the last quarter. Donald Smith & CO. Inc. boosted its holdings in shares of Radian Group by 43.7% during the 4th quarter. Donald Smith & CO. Inc. now owns 3,012,255 shares of the insurance provider’s stock worth $108,411,000 after buying an additional 916,003 shares during the period. Balyasny Asset Management L.P. grew its stake in Radian Group by 16.8% in the 4th quarter. Balyasny Asset Management L.P. now owns 2,188,624 shares of the insurance provider’s stock valued at $78,769,000 after buying an additional 315,575 shares during the last quarter. Finally, Norges Bank bought a new position in Radian Group in the 4th quarter valued at about $77,364,000. Institutional investors own 95.33% of the company’s stock.

Insiders Place Their Bets

In other news, EVP Edward J. Hoffman sold 15,000 shares of the stock in a transaction on Friday, May 8th. The stock was sold at an average price of $38.00, for a total value of $570,000.00. Following the completion of the transaction, the executive vice president directly owned 93,708 shares in the company, valued at approximately $3,560,904. This represents a 13.80% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Margaret Anne Leyden sold 2,070 shares of the firm’s stock in a transaction on Friday, May 29th. The shares were sold at an average price of $34.59, for a total value of $71,601.30. Following the sale, the director directly owned 6,864 shares in the company, valued at approximately $237,425.76. This trade represents a 23.17% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 30,516 shares of company stock worth $1,127,576 over the last 90 days. Insiders own 2.03% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently commented on RDN. Keefe, Bruyette & Woods raised their price target on shares of Radian Group from $43.00 to $46.00 and gave the stock an “outperform” rating in a research report on Thursday, June 25th. Wall Street Zen upgraded shares of Radian Group from a “hold” rating to a “buy” rating in a research report on Saturday, August 1st. Zacks Research cut shares of Radian Group from a “strong-buy” rating to a “hold” rating in a report on Monday, April 20th. Weiss Ratings reiterated a “buy (b)” rating on shares of Radian Group in a research report on Tuesday, June 16th. Finally, Barclays boosted their price target on Radian Group from $37.00 to $39.00 and gave the company an “equal weight” rating in a research note on Monday, May 11th. Five equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $43.17.

Radian Group Stock Performance

NYSE:RDN opened at $39.13 on Thursday. Radian Group Inc. has a twelve month low of $31.50 and a twelve month high of $41.05. The company has a quick ratio of 0.58, a current ratio of 0.58 and a debt-to-equity ratio of 0.16. The stock’s 50-day simple moving average is $36.82 and its 200 day simple moving average is $35.23. The firm has a market capitalization of $5.20 billion, a PE ratio of 9.64, a price-to-earnings-growth ratio of 1.00 and a beta of 0.72.

Radian Group (NYSE:RDN) last issued its earnings results on Wednesday, August 5th. The insurance provider reported $1.14 EPS for the quarter, missing the consensus estimate of $1.34 by ($0.20). The business had revenue of $574.96 million for the quarter, compared to analyst estimates of $556.55 million. Radian Group had a return on equity of 13.57% and a net margin of 40.50%.The firm’s revenue was up 92.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.01 EPS. On average, analysts anticipate that Radian Group Inc. will post 5.17 EPS for the current fiscal year.

Radian Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 17th. Investors of record on Tuesday, June 2nd were given a dividend of $0.255 per share. This represents a $1.02 dividend on an annualized basis and a yield of 2.6%. The ex-dividend date was Tuesday, June 2nd. Radian Group’s dividend payout ratio is currently 25.12%.

About Radian Group

Radian Group Inc (NYSE:RDN) is a leading provider of private mortgage insurance and related risk management solutions in the United States. Through its primary subsidiary, Radian Guaranty Inc, the company underwrites borrower-paid and lender-paid mortgage insurance that protects lenders and investors from potential losses arising from borrower defaults. Radian’s core business focuses on supporting residential mortgage originations and servicing by offering capital-efficient credit protection and credit risk transfer strategies.

Beyond mortgage insurance, Radian offers an array of real estate transaction services under its Radian Title division.