Metropolitan Life Insurance Co NY lessened its holdings in shares of Radian Group Inc (NYSE:RDN) by 2.2% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 64,467 shares of the insurance provider’s stock after selling 1,477 shares during the period. Metropolitan Life Insurance Co NY’s holdings in Radian Group were worth $1,472,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in RDN. Hillsdale Investment Management Inc. lifted its holdings in Radian Group by 2.6% in the 2nd quarter. Hillsdale Investment Management Inc. now owns 141,830 shares of the insurance provider’s stock worth $3,241,000 after buying an additional 3,600 shares during the period. JPMorgan Chase & Co. grew its position in shares of Radian Group by 9.2% in the 2nd quarter. JPMorgan Chase & Co. now owns 1,471,350 shares of the insurance provider’s stock worth $33,444,000 after buying an additional 123,544 shares during the last quarter. Amundi Pioneer Asset Management Inc. increased its stake in shares of Radian Group by 19.2% during the second quarter. Amundi Pioneer Asset Management Inc. now owns 656,651 shares of the insurance provider’s stock valued at $15,004,000 after buying an additional 105,936 shares during the period. Massachusetts Financial Services Co. MA raised its position in Radian Group by 6.5% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 235,570 shares of the insurance provider’s stock worth $5,381,000 after buying an additional 14,433 shares during the last quarter. Finally, Rhumbline Advisers boosted its holdings in shares of Radian Group by 4.1% in the 3rd quarter. Rhumbline Advisers now owns 355,199 shares of the insurance provider’s stock valued at $8,113,000 after acquiring an additional 14,006 shares during the last quarter. 93.91% of the stock is owned by institutional investors and hedge funds.
RDN has been the subject of a number of research reports. Compass Point set a $33.50 price target on shares of Radian Group and gave the company a “buy” rating in a report on Friday, November 1st. ValuEngine lowered Radian Group from a “hold” rating to a “sell” rating in a report on Wednesday, October 2nd. Finally, Barclays set a $28.00 price objective on Radian Group and gave the company a “buy” rating in a research report on Friday, November 1st. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and five have given a buy rating to the stock. Radian Group currently has a consensus rating of “Hold” and a consensus target price of $27.79.
Radian Group (NYSE:RDN) last issued its quarterly earnings results on Wednesday, October 30th. The insurance provider reported $0.81 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.73 by $0.08. Radian Group had a net margin of 44.27% and a return on equity of 17.41%. The firm had revenue of $380.34 million for the quarter, compared to analyst estimates of $363.96 million. During the same period last year, the company posted $0.71 EPS. Radian Group’s quarterly revenue was up 15.0% compared to the same quarter last year. On average, analysts expect that Radian Group Inc will post 3.09 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, December 6th. Shareholders of record on Monday, November 25th will be issued a dividend of $0.0025 per share. The ex-dividend date is Friday, November 22nd. This represents a $0.01 dividend on an annualized basis and a dividend yield of 0.04%. This is a boost from Radian Group’s previous quarterly dividend of $0.00. Radian Group’s dividend payout ratio is presently 0.37%.
About Radian Group
Radian Group Inc, through its subsidiaries, engages in the mortgage and real estate services business in the United States. It operates in two segments, Mortgage Insurance and Services. The Mortgage Insurance segment offers credit-related insurance coverage, primarily through private mortgage insurance on residential first-lien mortgage loans, as well as other credit risk management solutions to mortgage lending institutions and mortgage credit investors.
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