Trexquant Investment LP reduced its position in shares of Radian Group Inc (NYSE:RDN) by 64.1% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 15,758 shares of the insurance provider’s stock after selling 28,120 shares during the period. Trexquant Investment LP’s holdings in Radian Group were worth $295,000 at the end of the most recent reporting period.
Several other hedge funds have also recently bought and sold shares of RDN. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Radian Group by 11.5% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,781 shares of the insurance provider’s stock valued at $127,000 after acquiring an additional 803 shares in the last quarter. Skba Capital Management LLC acquired a new stake in shares of Radian Group during the 2nd quarter valued at approximately $170,000. Zacks Investment Management acquired a new stake in shares of Radian Group during the 2nd quarter valued at approximately $175,000. ETRADE Capital Management LLC acquired a new stake in shares of Radian Group during the 2nd quarter valued at approximately $183,000. Finally, Alpine Woods Capital Investors LLC raised its position in shares of Radian Group by 9.5% during the 2nd quarter. Alpine Woods Capital Investors LLC now owns 11,510 shares of the insurance provider’s stock valued at $188,000 after acquiring an additional 1,000 shares in the last quarter. 91.56% of the stock is currently owned by institutional investors and hedge funds.
Several equities research analysts recently issued reports on RDN shares. ValuEngine lowered Radian Group from a “strong-buy” rating to a “buy” rating in a research report on Thursday, September 7th. Zacks Investment Research lowered Radian Group from a “buy” rating to a “hold” rating in a research report on Monday, October 23rd. Compass Point raised Radian Group from a “neutral” rating to a “buy” rating and upped their price target for the company from $21.75 to $24.75 in a research report on Friday, October 27th. B. Riley reissued a “buy” rating on shares of Radian Group in a research report on Monday, November 6th. Finally, Wells Fargo & Company started coverage on Radian Group in a research report on Tuesday, November 28th. They set a “market perform” rating and a $22.00 price target on the stock. One analyst has rated the stock with a sell rating, three have given a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $22.53.
Shares of Radian Group Inc (RDN) traded up $0.15 on Thursday, reaching $22.00. The company had a trading volume of 1,114,500 shares, compared to its average volume of 1,668,270. The company has a market cap of $4,710.10, a P/E ratio of 12.70, a P/E/G ratio of 2.48 and a beta of 1.54. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.23 and a current ratio of 1.23. Radian Group Inc has a 52-week low of $15.10 and a 52-week high of $22.01.
Radian Group (NYSE:RDN) last issued its quarterly earnings data on Thursday, October 26th. The insurance provider reported $0.46 EPS for the quarter, topping the Zacks’ consensus estimate of $0.42 by $0.04. The firm 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 12.99% and a net margin of 14.88%. The firm’s revenue was down 2.8% on a year-over-year basis. During the same period in the prior year, the business earned $0.41 EPS. equities analysts predict that Radian Group Inc will post 1.76 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 8th. Investors of record on Monday, November 27th will be paid a dividend of $0.002 per share. The ex-dividend date is Friday, November 24th. This represents a $0.01 dividend on an annualized basis and a yield of 0.04%. Radian Group’s payout ratio is currently 1.28%.
Radian Group declared that its Board of Directors has approved a share buyback program on Wednesday, August 9th that authorizes the company to buyback $50.00 million in shares. This buyback authorization authorizes the insurance provider to repurchase up to 1.3% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board of directors believes its shares are undervalued.
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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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