Radian Group Inc. (NYSE:RDN) was the recipient of a significant decrease in short interest during the month of June. As of June 30th, there was short interest totalling 2,351,201 shares, a decrease of 40.6% from the June 15th total of 3,957,319 shares. Approximately 1.1% of the company’s shares are short sold. Based on an average trading volume of 1,990,395 shares, the short-interest ratio is currently 1.2 days.
In related news, SVP Catherine Mary Jackson sold 17,130 shares of the company’s stock in a transaction that occurred on Tuesday, August 15th. The stock was sold at an average price of $17.22, for a total value of $294,978.60. Following the transaction, the senior vice president now directly owns 80,720 shares in the company, valued at $1,389,998.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 1.83% of the company’s stock.
Several institutional investors have recently made changes to their positions in the stock. Dynamic Technology Lab Private Ltd raised its position in shares of Radian Group by 413.8% in the second quarter. Dynamic Technology Lab Private Ltd now owns 78,138 shares of the insurance provider’s stock worth $1,278,000 after buying an additional 62,929 shares during the period. Colony Group LLC raised its position in shares of Radian Group by 0.7% in the second quarter. Colony Group LLC now owns 133,918 shares of the insurance provider’s stock worth $2,190,000 after buying an additional 898 shares during the period. Verition Fund Management LLC raised its position in shares of Radian Group by 97.2% in the second quarter. Verition Fund Management LLC now owns 46,399 shares of the insurance provider’s stock worth $759,000 after buying an additional 22,873 shares during the period. Sterling Capital Management LLC raised its position in shares of Radian Group by 3.0% in the second quarter. Sterling Capital Management LLC now owns 265,653 shares of the insurance provider’s stock worth $4,343,000 after buying an additional 7,633 shares during the period. Finally, Ameritas Investment Partners Inc. raised its position in shares of Radian Group by 4.8% in the second quarter. Ameritas Investment Partners Inc. now owns 19,029 shares of the insurance provider’s stock worth $311,000 after buying an additional 877 shares during the period. Institutional investors own 92.71% of the company’s stock.
RDN has been the topic of a number of recent analyst reports. Zacks Investment Research cut Radian Group from a “hold” rating to a “sell” rating in a report on Tuesday, July 4th. Deutsche Bank AG decreased their price objective on Radian Group from $22.00 to $21.00 and set a “buy” rating on the stock in a report on Friday, April 28th. BidaskClub cut Radian Group from a “hold” rating to a “sell” rating in a report on Saturday, June 24th. Keefe, Bruyette & Woods reiterated a “buy” rating and issued a $21.00 price objective on shares of Radian Group in a report on Tuesday, May 30th. Finally, ValuEngine upgraded Radian Group from a “buy” rating to a “strong-buy” rating in a report on Wednesday, June 7th. Two investment analysts have rated the stock with a sell rating, one has given a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $20.75.
Radian Group (NYSE RDN) traded down 1.07% on Friday, reaching $16.72. The company’s stock had a trading volume of 1,079,276 shares. The stock has a market capitalization of $3.60 billion, a P/E ratio of 19.20 and a beta of 1.61. The firm has a 50 day moving average price of $17.28 and a 200 day moving average price of $17.64. Radian Group has a 52 week low of $12.96 and a 52 week high of $19.87.
Radian Group (NYSE:RDN) last announced its quarterly earnings results on Tuesday, August 1st. The insurance provider reported $0.48 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.40 by $0.08. The company had revenue of $302.91 million for the quarter, compared to analyst estimates of $299.07 million. Radian Group had a net margin of 16.26% and a return on equity of 12.81%. Radian Group’s revenue for the quarter was up 4.9% on a year-over-year basis. During the same quarter last year, the business earned $0.38 EPS. On average, equities analysts anticipate that Radian Group will post $1.72 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, September 1st. Shareholders of record on Monday, August 21st will be issued a $0.0025 dividend. The ex-dividend date of this dividend is Thursday, August 17th. This represents a $0.01 dividend on an annualized basis and a dividend yield of 0.06%. Radian Group’s dividend payout ratio (DPR) is presently 1.18%.
Radian Group declared that its Board of Directors has authorized a share buyback plan on Wednesday, August 9th that authorizes the company to repurchase $50.00 million in outstanding shares. This repurchase authorization authorizes the insurance provider to buy up to 1.3% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s leadership believes its shares are undervalued.
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Radian Group Company Profile
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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