Thrivent Financial for Lutherans Trims Stock Position in Radian Group Inc. $RDN

Thrivent Financial for Lutherans decreased its holdings in Radian Group Inc. (NYSE:RDN) by 10.1% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,598,325 shares of the insurance provider’s stock after selling 290,884 shares during the quarter. Thrivent Financial for Lutherans owned approximately 1.92% of Radian Group worth $93,592,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Geneos Wealth Management Inc. boosted its position in shares of 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 acquiring an additional 572 shares during the last quarter. Headlands Technologies LLC acquired a new position in shares of Radian Group in the 2nd quarter valued at $50,000. EverSource Wealth Advisors LLC grew its stake in shares of Radian Group by 94.0% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,860 shares of the insurance provider’s stock valued at $67,000 after buying an additional 901 shares during the period. Allworth Financial LP grew its stake in shares of Radian Group by 1,049.7% during the 2nd quarter. Allworth Financial LP now owns 1,897 shares of the insurance provider’s stock valued at $68,000 after buying an additional 1,732 shares during the period. Finally, Virtus Advisers LLC acquired a new stake in shares of Radian Group during the 1st quarter worth $88,000. Institutional investors and hedge funds own 95.33% of the company’s stock.

Radian Group Stock Performance

Shares of NYSE:RDN opened at $35.89 on Friday. The business’s 50-day simple moving average is $34.53 and its 200 day simple moving average is $34.69. The company has a market cap of $4.86 billion, a P/E ratio of 8.95 and a beta of 0.83. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.67 and a current ratio of 1.67. Radian Group Inc. has a one year low of $29.32 and a one year high of $38.84.

Radian Group (NYSE:RDN) last released its quarterly earnings results on Wednesday, November 5th. The insurance provider reported $1.15 earnings per share for the quarter, topping analysts’ consensus estimates of $0.95 by $0.20. The firm had revenue of $303.19 million during the quarter, compared to analysts’ expectations of $308.77 million. Radian Group had a return on equity of 13.29% and a net margin of 45.90%.Radian Group’s quarterly revenue was down 3.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.03 EPS. On average, sell-side analysts forecast that Radian Group Inc. will post 3.79 earnings per share for the current fiscal year.

Radian Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 9th. Investors of record on Monday, November 24th were paid a dividend of $0.255 per share. The ex-dividend date of this dividend was Monday, November 24th. This represents a $1.02 annualized dividend and a yield of 2.8%. Radian Group’s payout ratio is 25.44%.

Insider Buying and Selling at Radian Group

In other Radian Group news, EVP Eric Ray sold 13,957 shares of the business’s 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 sale was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Edward J. Hoffman sold 10,000 shares of the company’s stock in a transaction dated Thursday, September 18th. The shares were sold at an average price of $37.00, for a total transaction of $370,000.00. Following the completion of the transaction, the executive vice president directly owned 153,708 shares of the company’s stock, valued at approximately $5,687,196. The trade was a 6.11% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 2.01% of the company’s stock.

Wall Street Analysts Forecast Growth

RDN has been the subject of a number of research reports. Zacks Research raised Radian Group from a “hold” rating to a “strong-buy” rating in a research report on Monday, September 22nd. Barclays boosted their target price on Radian Group from $35.00 to $37.00 and gave the stock a “cautious” rating in a report on Monday, October 6th. UBS Group dropped their target price on shares of Radian Group from $43.00 to $40.00 and set a “neutral” rating for the company in a research report on Wednesday, October 15th. Finally, Weiss Ratings reaffirmed a “buy (a-)” rating on shares of Radian Group in a research report on Monday, December 8th. Two research analysts have rated the stock with a Strong Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $38.00.

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.