Caisse de depot et placement du Quebec Purchases New Position in Radian Group Inc. $RDN

Caisse de depot et placement du Quebec purchased a new stake in Radian Group Inc. (NYSE:RDN) during the 2nd quarter, HoldingsChannel.com reports. The fund purchased 2,371,483 shares of the insurance provider’s stock, valued at approximately $89,334,000.

Several other hedge funds have also recently bought and sold shares of the stock. Deutsche Bank AG bought a new stake in Radian Group in the 2nd quarter valued at $13,071,000. Fifth Third Bancorp grew its holdings in Radian Group by 17,199.1% in the 1st quarter. Fifth Third Bancorp now owns 156,903 shares of the insurance provider’s stock valued at $5,190,000 after buying an additional 155,996 shares in the last quarter. Jefferies Financial Group Inc. increased its position in Radian Group by 331.2% during the 4th quarter. Jefferies Financial Group Inc. now owns 94,867 shares of the insurance provider’s stock worth $3,414,000 after buying an additional 72,867 shares during the period. GSA Capital Partners LLP bought a new position in Radian Group during the 2nd quarter worth $2,801,000. Finally, Donald Smith & CO. Inc. lifted its holdings in shares of Radian Group by 43.7% during the fourth quarter. Donald Smith & CO. Inc. now owns 3,012,255 shares of the insurance provider’s stock worth $108,411,000 after buying an additional 916,003 shares in the last quarter. 95.33% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Radian Group

In other news, Director Margaret Anne Leyden sold 2,070 shares of Radian Group stock in a transaction on Friday, May 29th. The stock was sold at an average price of $34.59, for a total value of $71,601.30. Following the transaction, the director owned 6,864 shares in the company, valued at approximately $237,425.76. This trade represents a 23.17% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Michael S. Weinbach purchased 120,487 shares of the firm’s stock in a transaction dated Monday, June 1st. The stock was acquired at an average price of $33.89 per share, for a total transaction of $4,083,304.43. Following the purchase, the chief executive officer owned 120,487 shares in the company, valued at approximately $4,083,304.43. The trade was a ∞ increase in their position. The disclosure for this purchase is available in the SEC filing. 2.03% of the stock is owned by insiders.

Radian Group Trading Down 0.2%

RDN opened at $36.75 on Thursday. Radian Group Inc. has a twelve month low of $31.50 and a twelve month high of $41.05. The company has a 50-day simple moving average of $37.56 and a 200 day simple moving average of $35.60. The company has a quick ratio of 0.60, a current ratio of 0.60 and a debt-to-equity ratio of 0.14. The stock has a market capitalization of $4.86 billion, a price-to-earnings ratio of 9.45, a P/E/G ratio of 0.89 and a beta of 0.72.

Radian Group (NYSE:RDN) last released its earnings results on Thursday, August 6th. The insurance provider reported $1.14 EPS for the quarter, missing the consensus estimate of $1.34 by ($0.20). The firm had revenue of $574.96 million during the quarter, compared to the consensus estimate of $556.55 million. Radian Group had a net margin of 32.60% and a return on equity of 13.65%. Radian Group’s quarterly revenue was up 92.3% compared to the same quarter last year. During the same period in the prior year, the business earned $1.01 earnings per share. Analysts predict that Radian Group Inc. will post 4.86 EPS for the current fiscal year.

Radian Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 9th. Investors of record on Monday, August 24th will be paid a $0.255 dividend. This represents a $1.02 dividend on an annualized basis and a yield of 2.8%. The ex-dividend date of this dividend is Monday, August 24th. Radian Group’s dividend payout ratio (DPR) is 26.22%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. Keefe, Bruyette & Woods reduced their target price on shares of Radian Group from $46.00 to $44.00 and set an “outperform” rating for the company in a research report on Tuesday, August 11th. Wall Street Zen cut shares of Radian Group from a “buy” rating to a “hold” rating in a research note on Sunday, August 9th. Bank of America raised shares of Radian Group from an “underperform” rating to a “buy” rating and boosted their price objective for the company from $35.00 to $43.00 in a report on Wednesday, April 29th. Weiss Ratings upgraded shares of Radian Group from a “buy (b)” rating to a “buy (b+)” rating in a research report on Tuesday, August 11th. Finally, Royal Bank Of Canada initiated coverage on shares of Radian Group in a report on Friday, May 22nd. They set 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 assigned a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $42.17.

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.