Heartland Advisors Inc. Cuts Stake in Radian Group Inc. $RDN

Heartland Advisors Inc. cut its holdings in shares of Radian Group Inc. (NYSE:RDN) by 14.3% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 300,000 shares of the insurance provider’s stock after selling 50,000 shares during the quarter. Heartland Advisors Inc.’s holdings in Radian Group were worth $10,866,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. raised its position in Radian Group by 2.7% in the 3rd quarter. Vanguard Group Inc. now owns 16,272,597 shares of the insurance provider’s stock worth $589,393,000 after purchasing an additional 427,473 shares during the period. American Century Companies Inc. increased its holdings in shares of Radian Group by 5.2% in the second quarter. American Century Companies Inc. now owns 3,848,434 shares of the insurance provider’s stock worth $138,621,000 after buying an additional 190,184 shares during the period. Norges Bank bought a new stake in shares of Radian Group in the 2nd quarter valued at about $85,785,000. Allianz Asset Management GmbH boosted its holdings in Radian Group by 1.8% during the 3rd quarter. Allianz Asset Management GmbH now owns 989,839 shares of the insurance provider’s stock valued at $35,852,000 after acquiring an additional 17,863 shares during the period. Finally, Wealth Enhancement Advisory Services LLC grew its position in Radian Group by 1.1% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 897,223 shares of the insurance provider’s stock worth $31,098,000 after acquiring an additional 9,349 shares during the last quarter. Hedge funds and other institutional investors own 95.33% of the company’s stock.

Wall Street Analyst Weigh In

RDN has been the subject of a number of analyst reports. Zacks Research lowered Radian Group from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, January 6th. Keefe, Bruyette & Woods upgraded shares of Radian Group from a “market perform” rating to an “outperform” rating and increased their price target for the stock from $41.00 to $42.00 in a research note on Wednesday, February 11th. Roth Mkm reissued a “buy” rating and set a $45.00 price target on shares of Radian Group in a research report on Friday, January 2nd. Finally, Weiss Ratings cut shares of Radian Group from a “buy (a-)” rating to a “buy (b+)” rating in a report on Tuesday, January 13th. Three analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $40.20.

Insider Buying and Selling

In other news, EVP Eric Ray sold 13,957 shares of the firm’s stock in a transaction dated Tuesday, December 2nd. The shares were sold at an average price of $35.60, for a total transaction of $496,869.20. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 2.16% of the company’s stock.

Radian Group Price Performance

Shares of RDN opened at $32.83 on Tuesday. Radian Group Inc. has a twelve month low of $29.32 and a twelve month high of $38.84. The company has a market capitalization of $4.45 billion, a P/E ratio of 8.19 and a beta of 0.81. The firm has a 50 day moving average of $34.59 and a 200 day moving average of $34.69. The company has a quick ratio of 1.67, a current ratio of 1.67 and a debt-to-equity ratio of 0.24.

Radian Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 10th. Investors of record on Monday, February 23rd will be given a dividend of $0.255 per share. The ex-dividend date of this dividend is Monday, February 23rd. This represents a $1.02 annualized dividend and a dividend yield of 3.1%. Radian Group’s dividend payout ratio (DPR) is 25.44%.

Radian Group 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.