Norges Bank purchased a new stake in shares of Radian Group Inc (NYSE:RDN) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 2,242,572 shares of the insurance provider’s stock, valued at approximately $40,321,000. Norges Bank owned about 1.05% of Radian Group as of its most recent filing with the SEC.
Other institutional investors also recently modified their holdings of the company. CAMG Solamere Management LLC bought a new position in shares of Radian Group during the fourth quarter valued at $201,000. Investec Asset Management North America Inc. acquired a new stake in Radian Group during the fourth quarter valued at approximately $219,000. Skba Capital Management LLC acquired a new stake in Radian Group during the third quarter valued at approximately $282,000. Ngam Advisors L.P. acquired a new stake in Radian Group during the third quarter valued at approximately $283,000. Finally, Martingale Asset Management L P acquired a new stake in Radian Group during the fourth quarter valued at approximately $299,000. Hedge funds and other institutional investors own 95.81% of the company’s stock.
Radian Group Inc (NYSE:RDN) traded down 2.73% on Friday, hitting $18.54. The stock had a trading volume of 1,834,093 shares. The company’s 50 day moving average is $18.35 and its 200-day moving average is $16.90. The stock has a market cap of $3.99 billion, a P/E ratio of 13.53 and a beta of 2.25. Radian Group Inc has a 12 month low of $9.29 and a 12 month high of $19.87.
Radian Group (NYSE:RDN) last posted its quarterly earnings results on Thursday, January 26th. The insurance provider reported $0.41 EPS for the quarter, beating the consensus estimate of $0.40 by $0.01. Radian Group had a return on equity of 12.69% and a net margin of 24.89%. The firm earned $274.50 million during the quarter, compared to analysts’ expectations of $238.54 million. During the same quarter last year, the firm earned $0.34 earnings per share. The business’s revenue for the quarter was down .1% on a year-over-year basis. Analysts forecast that Radian Group Inc will post $1.80 EPS for the current year.
RDN has been the topic of several recent analyst reports. BTIG Research reaffirmed a “buy” rating and set a $22.00 price objective on shares of Radian Group in a research report on Sunday, January 29th. Zacks Investment Research raised Radian Group from a “hold” rating to a “buy” rating and set a $19.00 price objective on the stock in a research report on Tuesday, January 10th. Keefe, Bruyette & Woods reaffirmed a “buy” rating and set a $22.00 price objective on shares of Radian Group in a research report on Tuesday, March 21st. FBR & Co increased their price objective on Radian Group from $21.00 to $23.00 and gave the company an “outperform” rating in a research report on Monday, February 13th. Finally, Barclays PLC reaffirmed a “buy” rating and set a $25.00 price objective on shares of Radian Group in a research report on Monday, January 9th. Two research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Radian Group presently has an average rating of “Buy” and a consensus price target of $19.72.
In other Radian Group news, EVP Edward J. Hoffman sold 25,985 shares of the firm’s stock in a transaction on Tuesday, February 14th. The stock was sold at an average price of $19.79, for a total transaction of $514,243.15. Following the completion of the sale, the executive vice president now owns 45,911 shares of the company’s stock, valued at $908,578.69. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Sanford A. Ibrahim sold 87,900 shares of the firm’s stock in a transaction on Tuesday, February 14th. The stock was sold at an average price of $19.68, for a total value of $1,729,872.00. The disclosure for this sale can be found here. In the last three months, insiders have sold 281,100 shares of company stock valued at $5,523,934. 1.83% of the stock is owned by insiders.
About Radian Group
Radian Group Inc is an insurance holding company that provides mortgage insurance, and products and services to the real estate and mortgage finance industries. The Company operates in two segments: Mortgage Insurance and Services. The Mortgage Insurance segment provides credit-related insurance coverage, principally through private mortgage insurance to mortgage lending institutions.
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