Radian Group Inc. $RDN Stake Raised by NewEdge Wealth LLC

NewEdge Wealth LLC boosted its holdings in shares of Radian Group Inc. (NYSE:RDN) by 49.0% in the first quarter, HoldingsChannel reports. The fund owned 40,689 shares of the insurance provider’s stock after buying an additional 13,383 shares during the quarter. NewEdge Wealth LLC’s holdings in Radian Group were worth $1,346,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of RDN. PNC Financial Services Group Inc. lifted its position in shares of Radian Group by 6.0% in the first quarter. PNC Financial Services Group Inc. now owns 19,056 shares of the insurance provider’s stock worth $630,000 after purchasing an additional 1,076 shares in the last quarter. Commonwealth Financial Services LLC purchased a new position in Radian Group during the first quarter valued at approximately $244,000. Dimensional Fund Advisors LP increased its stake in Radian Group by 4.0% in the 1st quarter. Dimensional Fund Advisors LP now owns 5,948,335 shares of the insurance provider’s stock valued at $196,773,000 after buying an additional 230,912 shares during the period. Parallel Advisors LLC increased its stake in Radian Group by 439.9% in the 1st quarter. Parallel Advisors LLC now owns 2,262 shares of the insurance provider’s stock valued at $75,000 after buying an additional 1,843 shares during the period. Finally, Swiss National Bank lifted its position in Radian Group by 0.4% in the 1st quarter. Swiss National Bank now owns 268,050 shares of the insurance provider’s stock worth $8,867,000 after buying an additional 1,100 shares in the last quarter. Hedge funds and other institutional investors own 95.33% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. Wall Street Zen lowered shares of Radian Group from a “buy” rating to a “hold” rating in a research note on Sunday, July 12th. Zacks Research downgraded shares of Radian Group from a “strong-buy” rating to a “hold” rating in a research note on Monday, April 20th. Weiss Ratings reiterated a “buy (b)” rating on shares of Radian Group in a report on Tuesday, June 16th. Keefe, Bruyette & Woods lifted their price objective on Radian Group from $43.00 to $46.00 and gave the company an “outperform” rating in a research report on Thursday, June 25th. Finally, Royal Bank Of Canada assumed coverage on Radian Group in a research note on Friday, May 22nd. They issued an “outperform” rating and a $47.00 target price on the stock. Five investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $43.17.

Radian Group Stock Down 0.1%

Radian Group stock opened at $38.63 on Monday. The firm has a fifty day moving average price of $36.42 and a two-hundred day moving average price of $34.95. Radian Group Inc. has a fifty-two week low of $31.50 and a fifty-two week high of $41.05. The firm has a market cap of $5.14 billion, a price-to-earnings ratio of 9.51, a P/E/G ratio of 0.97 and a beta of 0.72. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.58 and a quick ratio of 0.58.

Radian Group (NYSE:RDN) last released its earnings results on Thursday, May 7th. The insurance provider reported $1.27 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.17 by $0.10. The firm had revenue of $466.34 million for the quarter, compared to analyst estimates of $377.83 million. Radian Group had a return on equity of 13.57% and a net margin of 40.50%.The company’s revenue was up 46.6% on a year-over-year basis. During the same quarter last year, the firm posted $0.99 EPS. As a group, analysts forecast that Radian Group Inc. will post 5.17 earnings per share for the current year.

Radian Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, June 17th. Investors of record on Tuesday, June 2nd were paid a dividend of $0.255 per share. This represents a $1.02 annualized dividend and a yield of 2.6%. The ex-dividend date was Tuesday, June 2nd. Radian Group’s payout ratio is currently 25.12%.

Insider Buying and Selling at Radian Group

In other Radian Group news, Director Margaret Anne Leyden sold 2,070 shares of the firm’s stock in a transaction dated Friday, May 29th. The shares were sold at an average price of $34.59, for a total transaction of $71,601.30. Following the completion of the transaction, the director owned 6,864 shares in the company, valued at $237,425.76. This trade represents a 23.17% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, EVP Edward J. Hoffman sold 15,000 shares of the firm’s stock in a transaction that occurred on Friday, May 8th. The stock was sold at an average price of $38.00, for a total value of $570,000.00. Following the transaction, the executive vice president owned 93,708 shares of the company’s stock, valued at $3,560,904. This trade represents a 13.80% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 45,516 shares of company stock valued at $1,682,576 in the last quarter. 2.03% of the stock is currently owned by corporate insiders.

Radian Group Company Profile

Radian Group Inc (NYSE:RDN) is a leading provider of private mortgage insurance and related risk management solutions in the United States. Through its primary subsidiary, Radian Guaranty Inc, the company underwrites borrower-paid and lender-paid mortgage insurance that protects lenders and investors from potential losses arising from borrower defaults. Radian’s core business focuses on supporting residential mortgage originations and servicing by offering capital-efficient credit protection and credit risk transfer strategies.

Beyond mortgage insurance, Radian offers an array of real estate transaction services under its Radian Title division.