State of New Jersey Common Pension Fund D Sells 6,194 Shares of Radian Group Inc. (NYSE:RDN)

State of New Jersey Common Pension Fund D reduced its position in shares of Radian Group Inc. (NYSE:RDN) by 10.1% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 55,207 shares of the insurance provider’s stock after selling 6,194 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Radian Group were worth $1,915,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in RDN. Vanguard Group Inc. grew its position in shares of Radian Group by 0.3% in the 1st quarter. Vanguard Group Inc. now owns 20,439,073 shares of the insurance provider’s stock worth $684,096,000 after buying an additional 69,383 shares during the period. Acadian Asset Management LLC bought a new stake in Radian Group during the 1st quarter worth approximately $1,442,000. Mitsubishi UFJ Trust & Banking Corp raised its stake in Radian Group by 17.7% during the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 46,407 shares of the insurance provider’s stock worth $1,524,000 after acquiring an additional 6,967 shares during the period. Public Sector Pension Investment Board grew its holdings in Radian Group by 5.5% during the 2nd quarter. Public Sector Pension Investment Board now owns 331,341 shares of the insurance provider’s stock valued at $10,305,000 after buying an additional 17,367 shares in the last quarter. Finally, Vest Financial LLC grew its holdings in Radian Group by 27.4% during the 2nd quarter. Vest Financial LLC now owns 746,664 shares of the insurance provider’s stock valued at $23,221,000 after buying an additional 160,778 shares in the last quarter. 95.33% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research firms have commented on RDN. Barclays lifted their price objective on shares of Radian Group from $32.00 to $33.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 8th. Keefe, Bruyette & Woods lifted their target price on Radian Group from $36.00 to $39.00 and gave the company an “outperform” rating in a research note on Monday, August 5th. Roth Mkm upped their target price on Radian Group from $35.00 to $40.00 and gave the company a “buy” rating in a research report on Friday, August 2nd. Finally, Royal Bank of Canada upped their price objective 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. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $36.10.

Insider Buying and Selling at Radian Group

In other news, EVP Eric Ray sold 53,791 shares of the company’s stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $35.67, for a total value of $1,918,724.97. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Derek Brummer sold 35,153 shares of the company’s 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 sale, the insider now directly owns 186,535 shares of the company’s stock, valued at $6,595,877.60. The trade was a 15.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 115,955 shares of company stock worth $4,130,140 over the last 90 days. Corporate insiders own 2.16% of the company’s stock.

Radian Group Stock Up 0.7 %

RDN stock opened at $34.63 on Monday. The firm has a market cap of $5.16 billion, a PE ratio of 8.97, a PEG ratio of 1.73 and a beta of 1.04. The company has a debt-to-equity ratio of 0.42, a quick ratio of 2.01 and a current ratio of 2.01. Radian Group Inc. has a one year low of $24.92 and a one year high of $37.86. The firm’s 50 day moving average price is $34.48 and its 200-day moving average price is $33.45.

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

Radian Group Announces Dividend

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

Radian Group 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.