Legal & General Group Plc Buys New Shares in Radian Group Inc. $RDN

Legal & General Group Plc purchased a new stake in Radian Group Inc. (NYSE:RDN) in the second quarter, HoldingsChannel reports. The fund purchased 323,292 shares of the insurance provider’s stock, valued at approximately $12,178,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Jones Financial Companies Lllp increased its holdings in shares of Radian Group by 14.8% during the 1st quarter. Jones Financial Companies Lllp now owns 2,764 shares of the insurance provider’s stock worth $91,000 after purchasing an additional 357 shares during the period. Geneos Wealth Management Inc. lifted its stake in shares of Radian Group by 191.3% in the first quarter. Geneos Wealth Management Inc. now owns 871 shares of the insurance provider’s stock valued at $29,000 after buying an additional 572 shares during the period. EverSource Wealth Advisors LLC lifted its stake in shares of Radian Group by 94.0% in the second quarter. EverSource Wealth Advisors LLC now owns 1,860 shares of the insurance provider’s stock valued at $67,000 after buying an additional 901 shares during the period. Walleye Capital LLC acquired a new stake in Radian Group during the second quarter worth about $239,000. Finally, Marshall Wace LLP acquired a new stake in Radian Group during the second quarter worth about $452,000. 95.33% of the stock is currently owned by institutional investors and hedge funds.

Radian Group Trading Down 1.7%

NYSE RDN opened at $35.80 on Tuesday. The company has a current ratio of 0.60, a quick ratio of 0.60 and a debt-to-equity ratio of 0.14. Radian Group Inc. has a 12 month low of $31.50 and a 12 month high of $41.05. The company has a market capitalization of $4.74 billion, a PE ratio of 9.20, a P/E/G ratio of 0.88 and a beta of 0.72. The stock has a 50-day simple moving average of $37.65 and a 200 day simple moving average of $35.67.

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

Radian Group Announces Dividend

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 issued a dividend of $0.255 per share. The ex-dividend date is Monday, August 24th. This represents a $1.02 dividend on an annualized basis and a yield of 2.8%. Radian Group’s payout ratio is currently 26.22%.

Wall Street Analyst Weigh In

Several equities analysts have commented on RDN shares. Wall Street Zen cut Radian Group from a “buy” rating to a “hold” rating in a report on Sunday, August 9th. Royal Bank Of Canada began coverage on Radian Group in a research report on Friday, May 22nd. They set an “outperform” rating and a $47.00 price objective on the stock. Barclays cut their target price on Radian Group from $39.00 to $35.00 and set an “equal weight” rating for the company in a research note on Monday, August 10th. Keefe, Bruyette & Woods lowered their price target on shares of Radian Group from $46.00 to $44.00 and set an “outperform” rating on the stock in a report on Tuesday, August 11th. Finally, Weiss Ratings upgraded shares of Radian Group from a “buy (b)” rating to a “buy (b+)” rating in a research note on Tuesday, August 11th. Five analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, Radian Group currently has a consensus rating of “Moderate Buy” and a consensus 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.