Covestor Ltd Sells 735 Shares of Radian Group Inc. (NYSE:RDN)

Covestor Ltd lowered its holdings in shares of Radian Group Inc. (NYSE:RDN) by 42.5% during the third quarter, Holdings Channel reports. The firm owned 996 shares of the insurance provider’s stock after selling 735 shares during the period. Covestor Ltd’s holdings in Radian Group were worth $35,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Arizona State Retirement System grew its stake in Radian Group by 0.8% in the 2nd quarter. Arizona State Retirement System now owns 42,413 shares of the insurance provider’s stock valued at $1,319,000 after buying an additional 321 shares during the last quarter. Xponance Inc. grew its stake in Radian Group by 2.5% in the 2nd quarter. Xponance Inc. now owns 13,121 shares of the insurance provider’s stock valued at $408,000 after buying an additional 321 shares during the last quarter. QRG Capital Management Inc. grew its stake in Radian Group by 1.1% in the 3rd quarter. QRG Capital Management Inc. now owns 31,392 shares of the insurance provider’s stock valued at $1,089,000 after buying an additional 339 shares during the last quarter. Tidal Investments LLC grew its stake in Radian Group by 5.2% in the 1st quarter. Tidal Investments LLC now owns 9,516 shares of the insurance provider’s stock valued at $319,000 after buying an additional 474 shares during the last quarter. Finally, Harbor Capital Advisors Inc. grew its stake in Radian Group by 1.3% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 45,701 shares of the insurance provider’s stock valued at $1,585,000 after buying an additional 589 shares during the last quarter. Institutional investors own 95.33% of the company’s stock.

Insider Transactions at Radian Group

In related news, insider Derek Brummer sold 35,153 shares of Radian Group stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of $35.36, for a total transaction of $1,243,010.08. Following the completion of the transaction, the insider now directly owns 186,535 shares of the company’s stock, valued at $6,595,877.60. This trade represents a 15.86 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, COO Mary Dickerson sold 19,511 shares of Radian Group stock in a transaction dated Wednesday, August 28th. The shares were sold at an average price of $35.93, for a total transaction of $701,030.23. The disclosure for this sale can be found here. In the last three months, insiders sold 115,955 shares of company stock valued at $4,130,140. Company insiders own 2.16% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the stock. Roth Mkm raised their target price on shares of Radian Group from $35.00 to $40.00 and gave the company a “buy” rating in a research note on Friday, August 2nd. Barclays raised their price target on shares of Radian Group from $32.00 to $33.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 8th. Royal Bank of Canada raised their price target on shares of Radian Group from $32.00 to $37.00 and gave the stock a “sector perform” rating in a research report on Friday, August 2nd. Finally, Keefe, Bruyette & Woods raised their price target on shares of Radian Group from $36.00 to $39.00 and gave the stock an “outperform” rating in a research report on Monday, August 5th. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $36.10.

Radian Group Stock Performance

NYSE RDN opened at $34.63 on Friday. The company has a debt-to-equity ratio of 0.42, a current ratio of 2.01 and a quick ratio of 2.01. The firm has a market capitalization of $5.16 billion, a price-to-earnings ratio of 8.97, a P/E/G ratio of 1.73 and a beta of 1.04. The company’s fifty day moving average is $34.48 and its two-hundred day moving average is $33.41. Radian Group Inc. has a 52-week low of $24.92 and a 52-week high of $37.86.

Radian Group (NYSE:RDN) last released its quarterly earnings data on Wednesday, November 6th. The insurance provider reported $1.03 EPS for the quarter, topping analysts’ consensus estimates of $0.88 by $0.15. The company had revenue of $319.05 million during the quarter, compared to the consensus estimate of $320.30 million. Radian Group had a net margin of 45.96% and a return on equity of 13.81%. Equities research analysts forecast that Radian Group Inc. will post 4 EPS for the current year.

Radian Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Monday, November 25th will be issued a dividend of $0.245 per share. This represents a $0.98 dividend on an annualized basis and a dividend yield of 2.83%. The ex-dividend date is Monday, November 25th. Radian Group’s payout ratio is 25.39%.

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.