33,497 Shares in Radian Group Inc. $RDN Purchased by Summit Global Investments

Summit Global Investments bought a new stake in shares of Radian Group Inc. (NYSE:RDN) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 33,497 shares of the insurance provider’s stock, valued at approximately $1,213,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Jones Financial Companies Lllp lifted its stake in shares of Radian Group by 14.8% during the 1st quarter. Jones Financial Companies Lllp now owns 2,764 shares of the insurance provider’s stock worth $91,000 after acquiring an additional 357 shares during the last quarter. Geneos Wealth Management Inc. increased its stake in Radian Group by 191.3% in the first quarter. Geneos Wealth Management Inc. now owns 871 shares of the insurance provider’s stock worth $29,000 after purchasing an additional 572 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of Radian Group by 0.7% during the second quarter. Mirae Asset Global Investments Co. Ltd. now owns 122,238 shares of the insurance provider’s stock worth $4,403,000 after purchasing an additional 869 shares during the last quarter. QRG Capital Management Inc. boosted its stake in shares of Radian Group by 6.9% during the second quarter. QRG Capital Management Inc. now owns 32,911 shares of the insurance provider’s stock valued at $1,185,000 after purchasing an additional 2,127 shares during the period. Finally, KLP Kapitalforvaltning AS boosted its stake in shares of Radian Group by 2.1% during the second quarter. KLP Kapitalforvaltning AS now owns 58,500 shares of the insurance provider’s stock valued at $2,107,000 after purchasing an additional 1,200 shares during the period. 95.33% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Radian Group

In other Radian Group news, EVP Eric Ray sold 13,957 shares of Radian Group stock in a transaction on Tuesday, December 2nd. The shares were sold at an average price of $35.60, for a total value of $496,869.20. The transaction was disclosed in a document filed with the SEC, which is available through this link. Corporate insiders own 2.01% of the company’s stock.

Radian Group Trading Down 0.8%

Shares of NYSE RDN opened at $32.90 on Friday. Radian Group Inc. has a 1-year low of $29.32 and a 1-year high of $38.84. The business has a fifty day moving average price of $35.02 and a 200 day moving average price of $34.71. The stock has a market capitalization of $4.46 billion, a P/E ratio of 8.20 and a beta of 0.82. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.67 and a quick ratio of 1.67.

Radian Group (NYSE:RDN) last announced its earnings results on Wednesday, November 5th. The insurance provider reported $1.15 EPS for the quarter, topping analysts’ consensus estimates of $0.95 by $0.20. Radian Group had a net margin of 45.90% and a return on equity of 13.29%. The business had revenue of $303.19 million during the quarter, compared to the consensus estimate of $308.77 million. During the same period in the previous year, the company posted $1.03 earnings per share. The firm’s revenue was down 3.3% on a year-over-year basis. Equities research analysts expect that Radian Group Inc. will post 3.79 EPS for the current fiscal year.

Radian Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 9th. Shareholders of record on Monday, November 24th were paid a $0.255 dividend. This represents a $1.02 annualized dividend and a yield of 3.1%. The ex-dividend date was Monday, November 24th. Radian Group’s dividend payout ratio (DPR) is 25.44%.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on RDN. Keefe, Bruyette & Woods lifted their price objective on shares of Radian Group from $40.00 to $41.00 and gave the company a “market perform” rating in a report on Thursday, December 18th. Roth Mkm reaffirmed a “buy” rating and set a $45.00 price target on shares of Radian Group in a research note on Friday, January 2nd. Barclays raised their price objective on Radian Group from $35.00 to $37.00 and gave the stock a “cautious” rating in a report on Monday, October 6th. Weiss Ratings lowered Radian Group from a “buy (a-)” rating to a “buy (b+)” rating in a research report on Tuesday, January 13th. Finally, UBS Group lowered their target price on Radian Group from $43.00 to $40.00 and set a “neutral” rating for the company in a report on Wednesday, October 15th. Two equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Radian Group presently has a consensus rating of “Hold” and an average target price of $40.00.

Radian Group Company Profile

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.