Cubist Systematic Strategies LLC decreased its holdings in shares of Radian Group Inc (NYSE:RDN) by 55.8% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 6,834 shares of the insurance provider’s stock after selling 8,636 shares during the quarter. Cubist Systematic Strategies LLC’s holdings in Radian Group were worth $111,000 at the end of the most recent quarter.
A number of other hedge funds have also bought and sold shares of the stock. BlackRock Inc. lifted its stake in Radian Group by 3.7% in the second quarter. BlackRock Inc. now owns 15,049,243 shares of the insurance provider’s stock valued at $244,099,000 after buying an additional 534,225 shares during the last quarter. Canada Pension Plan Investment Board lifted its stake in Radian Group by 94.1% in the second quarter. Canada Pension Plan Investment Board now owns 5,056,400 shares of the insurance provider’s stock valued at $82,015,000 after buying an additional 2,451,300 shares during the last quarter. Investec Asset Management LTD lifted its stake in Radian Group by 5.8% in the second quarter. Investec Asset Management LTD now owns 4,159,795 shares of the insurance provider’s stock valued at $67,472,000 after buying an additional 227,851 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in Radian Group by 13.4% in the second quarter. Dimensional Fund Advisors LP now owns 2,470,171 shares of the insurance provider’s stock valued at $40,066,000 after buying an additional 291,334 shares during the last quarter. Finally, Bruni J V & Co. Co. lifted its stake in Radian Group by 0.8% in the second quarter. Bruni J V & Co. Co. now owns 2,321,679 shares of the insurance provider’s stock valued at $37,658,000 after buying an additional 19,076 shares during the last quarter. Hedge funds and other institutional investors own 92.13% of the company’s stock.
A number of equities research analysts have weighed in on the company. Bank of America boosted their price objective on Radian Group from $13.00 to $23.00 and gave the company a “buy” rating in a research note on Monday, August 13th. B. Riley boosted their price objective on Radian Group from $20.00 to $24.00 and gave the company a “neutral” rating in a research note on Tuesday, August 7th. TheStreet upgraded Radian Group from a “c+” rating to a “b-” rating in a research note on Tuesday, July 31st. Royal Bank of Canada reiterated a “hold” rating and issued a $21.00 price objective on shares of Radian Group in a research note on Friday, July 27th. Finally, ValuEngine upgraded Radian Group from a “sell” rating to a “hold” rating in a research note on Thursday, July 19th. Five equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $23.11.
NYSE:RDN opened at $18.89 on Friday. The company has a market capitalization of $4.41 billion, a PE ratio of 10.42, a P/E/G ratio of 1.63 and a beta of 1.49. The company has a current ratio of 1.48, a quick ratio of 1.48 and a debt-to-equity ratio of 0.32. Radian Group Inc has a 12-month low of $14.06 and a 12-month high of $23.49.
Radian Group (NYSE:RDN) last released its earnings results on Thursday, July 26th. The insurance provider reported $0.69 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.60 by $0.09. Radian Group had a return on equity of 16.10% and a net margin of 31.87%. The business had revenue of $319.30 million for the quarter, compared to analyst estimates of $320.34 million. During the same quarter in the previous year, the company posted $0.48 earnings per share. The company’s revenue for the quarter was up 5.4% compared to the same quarter last year. Equities analysts predict that Radian Group Inc will post 2.54 earnings per share for the current year.
Radian Group declared that its Board of Directors has authorized a share buyback program on Thursday, August 16th that allows the company to buyback $100.00 million in outstanding shares. This buyback authorization allows the insurance provider to buy up to 2.4% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s board of directors believes its stock is undervalued.
Radian Group Profile
Radian Group Inc, through its subsidiaries, provides mortgage and real estate products and services in the United States. It operates through two segments, Mortgage Insurance and Services. The Mortgage Insurance segment offers credit-related insurance coverage, primarily through private mortgage insurance, as well as other credit risk management solutions to mortgage lending institutions; and primary mortgage insurance coverage on residential first-lien mortgage loans.
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