NJ State Employees Deferred Compensation Plan bought a new stake in Radian Group Inc. (NYSE:RDN) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 20,000 shares of the insurance provider’s stock, valued at approximately $374,000.
A number of other institutional investors also recently modified their holdings of RDN. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Radian Group by 11.5% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,781 shares of the insurance provider’s stock worth $127,000 after purchasing an additional 803 shares during the period. Skba Capital Management LLC acquired a new position in shares of Radian Group during the second quarter worth $170,000. Zacks Investment Management acquired a new position in shares of Radian Group during the second quarter worth $175,000. ETRADE Capital Management LLC acquired a new position in shares of Radian Group during the second quarter worth $183,000. Finally, Alpine Woods Capital Investors LLC lifted its holdings in shares of Radian Group by 9.5% during the second quarter. Alpine Woods Capital Investors LLC now owns 11,510 shares of the insurance provider’s stock worth $188,000 after purchasing an additional 1,000 shares during the period. Hedge funds and other institutional investors own 90.37% of the company’s stock.
Radian Group Inc. (RDN) opened at $20.14 on Friday. The company has a market capitalization of $4.57 billion, a price-to-earnings ratio of 12.34, a price-to-earnings-growth ratio of 2.43 and a beta of 1.59. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.21 and a current ratio of 1.21.
Radian Group (NYSE:RDN) last released its earnings results on Thursday, October 26th. The insurance provider reported $0.46 earnings per share for the quarter, beating the consensus estimate of $0.42 by $0.04. The company had revenue of $312.05 million during the quarter, compared to the consensus estimate of $321.10 million. Radian Group had a return on equity of 13.09% and a net margin of 14.88%. Radian Group’s revenue was down 2.8% compared to the same quarter last year. During the same period in the previous year, the company posted $0.41 EPS. equities analysts anticipate that Radian Group Inc. will post 1.74 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 8th. Stockholders of record on Monday, November 27th will be paid a $0.002 dividend. This represents a $0.01 annualized dividend and a dividend yield of 0.04%. The ex-dividend date is Friday, November 24th. Radian Group’s payout ratio is presently 1.28%.
Radian Group declared that its Board of Directors has initiated a stock repurchase plan on Wednesday, August 9th that authorizes the company to repurchase $50.00 million in 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 often a sign that the company’s board believes its stock is undervalued.
In related news, CEO Richard G. Thornberry acquired 15,000 shares of the firm’s stock in a transaction dated Friday, August 18th. The stock was acquired at an average price of $16.78 per share, for a total transaction of $251,700.00. Following the purchase, the chief executive officer now owns 15,000 shares of the company’s stock, valued at approximately $251,700. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP Catherine Mary Jackson sold 17,130 shares of Radian Group stock in a transaction dated Tuesday, August 15th. The shares were sold at an average price of $17.22, for a total value of $294,978.60. Following the completion of the transaction, the senior vice president now owns 80,720 shares of the company’s stock, valued at approximately $1,389,998.40. The disclosure for this sale can be found here. Company insiders own 1.06% of the company’s stock.
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RDN has been the topic of a number of recent research reports. Deutsche Bank AG lifted their price target on shares of Radian Group from $21.00 to $23.00 and gave the stock a “buy” rating in a report on Wednesday, October 25th. ValuEngine lowered shares of Radian Group from a “strong-buy” rating to a “buy” rating in a report on Thursday, September 7th. Zacks Investment Research upgraded shares of Radian Group from a “hold” rating to a “buy” rating and set a $21.00 price target on the stock in a report on Tuesday, October 10th. Compass Point reiterated a “neutral” rating and set a $21.25 price target on shares of Radian Group in a report on Saturday, October 14th. Finally, Susquehanna Bancshares Inc set a $22.00 price target on shares of Radian Group and gave the stock a “buy” rating in a report on Monday, October 16th. One analyst has rated the stock with a sell rating, two have issued a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. Radian Group presently has an average rating of “Buy” and a consensus target price of $22.59.
Radian Group 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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