Radian Group Inc. (NYSE:RDN) Stake Lessened by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company reduced its stake in shares of Radian Group Inc. (NYSE:RDN) by 2.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 84,828 shares of the insurance provider’s stock after selling 1,697 shares during the period. The Manufacturers Life Insurance Company owned about 0.06% of Radian Group worth $2,691,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Norges Bank acquired a new stake in Radian Group during the fourth quarter valued at approximately $73,693,000. First Trust Advisors LP raised its holdings in shares of Radian Group by 20.6% during the fourth quarter. First Trust Advisors LP now owns 10,766,237 shares of the insurance provider’s stock worth $341,505,000 after purchasing an additional 1,836,020 shares during the period. Canada Pension Plan Investment Board bought a new position in shares of Radian Group in the 4th quarter worth about $9,564,000. Vest Financial LLC boosted its holdings in shares of Radian Group by 35.4% in the 4th quarter. Vest Financial LLC now owns 1,092,054 shares of the insurance provider’s stock valued at $34,640,000 after buying an additional 285,481 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its stake in Radian Group by 4.2% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 6,094,163 shares of the insurance provider’s stock worth $193,307,000 after acquiring an additional 248,423 shares during the period. Institutional investors and hedge funds own 95.33% of the company’s stock.

Radian Group Stock Performance

Shares of RDN stock opened at $33.58 on Friday. The business has a 50 day simple moving average of $32.16 and a 200 day simple moving average of $32.91. The company has a debt-to-equity ratio of 0.50, a current ratio of 2.87 and a quick ratio of 2.01. The firm has a market capitalization of $4.51 billion, a price-to-earnings ratio of 8.54, a price-to-earnings-growth ratio of 1.73 and a beta of 0.71. Radian Group Inc. has a 12-month low of $29.32 and a 12-month high of $37.86.

Radian Group (NYSE:RDN) last issued its quarterly earnings results on Wednesday, April 30th. The insurance provider reported $0.99 EPS for the quarter, beating analysts’ consensus estimates of $0.95 by $0.04. The company had revenue of $318.11 million for the quarter, compared to analyst estimates of $326.99 million. Radian Group had a return on equity of 13.96% and a net margin of 46.85%. The company’s quarterly revenue was down .4% compared to the same quarter last year. During the same period last year, the company earned $1.03 earnings per share. On average, equities research analysts anticipate that Radian Group Inc. will post 3.79 EPS for the current year.

Radian Group Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 11th. Shareholders of record on Monday, February 24th were given a dividend of $0.255 per share. This represents a $1.02 dividend on an annualized basis and a dividend yield of 3.04%. This is an increase from Radian Group’s previous quarterly dividend of $0.25. The ex-dividend date was Monday, February 24th. Radian Group’s payout ratio is 25.95%.

Analyst Ratings Changes

A number of analysts have recently weighed in on the company. Keefe, Bruyette & Woods reiterated an “outperform” rating and set a $38.00 price target (up from $37.00) on shares of Radian Group in a research report on Friday, May 2nd. UBS Group raised their target price on Radian Group from $34.00 to $36.00 and gave the company a “neutral” rating in a research note on Monday, May 5th. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $36.80.

Insider Transactions at Radian Group

In related news, Director Gregory Serio sold 4,100 shares of the business’s stock in a transaction that occurred on Friday, February 28th. The stock was sold at an average price of $32.65, for a total transaction of $133,865.00. Following the sale, the director now owns 344 shares of the company’s stock, valued at $11,231.60. The trade was a 92.26 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 2.01% of the company’s stock.

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.