VIRGINIA RETIREMENT SYSTEMS ET Al Invests $45.55 Million in Radian Group Inc. $RDN

VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in shares of Radian Group Inc. (NYSE:RDN) in the second quarter, according to the company in its most recent filing with the SEC. The firm bought 1,209,272 shares of the insurance provider’s stock, valued at approximately $45,553,000.

Several other large investors have also recently added to or reduced their stakes in RDN. BlackRock Inc. acquired a new stake in shares of Radian Group during the second quarter worth approximately $728,072,000. Charles Schwab Investment Management Inc. grew its position in Radian Group by 1.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 5,959,463 shares of the insurance provider’s stock worth $214,481,000 after acquiring an additional 63,437 shares during the last quarter. Dimensional Fund Advisors LP grew its position in Radian Group by 4.0% during the 1st quarter. Dimensional Fund Advisors LP now owns 5,948,335 shares of the insurance provider’s stock worth $196,773,000 after acquiring an additional 230,912 shares during the last quarter. California State Teachers Retirement System increased its holdings in Radian Group by 3,373.3% during the 2nd quarter. California State Teachers Retirement System now owns 5,899,951 shares of the insurance provider’s stock valued at $222,251,000 after purchasing an additional 5,730,083 shares in the last quarter. Finally, Donald Smith & CO. Inc. acquired a new stake in Radian Group during the 2nd quarter valued at $163,104,000. 95.33% of the stock is owned by institutional investors.

Radian Group Stock Performance

RDN stock opened at $36.59 on Monday. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.60 and a quick ratio of 0.60. The company has a 50 day moving average price of $37.63 and a 200 day moving average price of $35.75. Radian Group Inc. has a fifty-two week low of $31.50 and a fifty-two week high of $41.05. The stock has a market capitalization of $4.84 billion, a PE ratio of 9.41, a price-to-earnings-growth ratio of 0.89 and a beta of 0.70.

Radian Group (NYSE:RDN) last announced its quarterly earnings data on Thursday, August 6th. The insurance provider reported $1.14 EPS for the quarter, missing analysts’ consensus estimates of $1.34 by ($0.20). The firm had revenue of $574.96 million during the quarter, compared to the consensus estimate of $556.55 million. Radian Group had a net margin of 32.60% and a return on equity of 13.65%. The firm’s quarterly revenue was up 92.3% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.01 earnings per share. Analysts forecast that Radian Group Inc. will post 4.86 EPS for the current year.

Radian Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 9th. Investors of record on Monday, August 24th will be issued a $0.255 dividend. The ex-dividend date is Monday, August 24th. This represents a $1.02 annualized dividend and a yield of 2.8%. Radian Group’s dividend payout ratio (DPR) is currently 26.22%.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the company. Weiss Ratings raised Radian Group from a “buy (b)” rating to a “buy (b+)” rating in a research note on Tuesday, August 11th. Keefe, Bruyette & Woods lowered their target price on Radian Group from $46.00 to $44.00 and set an “outperform” rating for the company in a research note on Tuesday, August 11th. Wall Street Zen cut Radian Group from a “buy” rating to a “hold” rating in a report on Sunday, August 9th. Royal Bank Of Canada initiated coverage on shares of Radian Group in a research report on Friday, May 22nd. They set an “outperform” rating and a $47.00 price target on the stock. Finally, Barclays decreased their price objective on shares of Radian Group from $39.00 to $35.00 and set an “equal weight” rating on the stock in a report on Monday, August 10th. Five equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $42.17.

Radian Group 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.