Radian Group Inc. (NYSE:RDN) Shares Sold by Bank of Nova Scotia

Bank of Nova Scotia decreased its stake in Radian Group Inc. (NYSE:RDN – Get Rating) by 47.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 22,061 shares of the insurance provider’s stock after selling 19,555 shares during the quarter. Bank of Nova Scotia’s holdings in Radian Group were worth $421,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of RDN. Lazard Asset Management LLC grew its position in shares of Radian Group by 1,399.0% in the third quarter. Lazard Asset Management LLC now owns 1,454 shares of the insurance provider’s stock valued at $28,000 after purchasing an additional 1,357 shares during the period. Ensign Peak Advisors Inc acquired a new stake in shares of Radian Group in the third quarter valued at about $73,000. Captrust Financial Advisors grew its position in shares of Radian Group by 49.8% in the second quarter. Captrust Financial Advisors now owns 4,441 shares of the insurance provider’s stock valued at $87,000 after purchasing an additional 1,476 shares during the period. Counterpoint Mutual Funds LLC grew its position in shares of Radian Group by 38.6% in the fourth quarter. Counterpoint Mutual Funds LLC now owns 7,740 shares of the insurance provider’s stock valued at $148,000 after purchasing an additional 2,157 shares during the period. Finally, Covestor Ltd boosted its position in Radian Group by 85.3% during the first quarter. Covestor Ltd now owns 7,357 shares of the insurance provider’s stock worth $163,000 after acquiring an additional 3,386 shares during the last quarter. Institutional investors and hedge funds own 94.37% of the company’s stock.

Insider Activity

In other news, Chairman Howard Bernard Culang sold 12,975 shares of the business’s stock in a transaction that occurred on Friday, May 19th. The shares were sold at an average price of $26.00, for a total value of $337,350.00. Following the sale, the chairman now directly owns 8,050 shares of the company’s stock, valued at approximately $209,300. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Chairman Howard Bernard Culang sold 12,975 shares of the company’s stock in a transaction that occurred on Friday, May 19th. The shares were sold at an average price of $26.00, for a total transaction of $337,350.00. Following the sale, the chairman now directly owns 8,050 shares of the company’s stock, valued at approximately $209,300. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Gregory Serio sold 11,000 shares of the company’s stock in a transaction that occurred on Friday, May 19th. The stock was sold at an average price of $25.72, for a total transaction of $282,920.00. Following the sale, the director now directly owns 12,021 shares in the company, valued at $309,180.12. The disclosure for this sale can be found here. In the last three months, insiders have sold 147,095 shares of company stock valued at $3,533,076. Company insiders own 1.58% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently weighed in on RDN. Compass Point upgraded shares of Radian Group from a “neutral” rating to a “buy” rating and set a $29.00 price target on the stock in a research report on Tuesday, April 11th. Royal Bank of Canada boosted their price target on shares of Radian Group from $22.00 to $24.00 and gave the stock a “sector perform” rating in a research report on Friday, February 10th. Roth Capital restated a “buy” rating on shares of Radian Group in a research report on Thursday, February 9th. Bank of America lowered shares of Radian Group from a “buy” rating to an “underperform” rating in a research report on Tuesday, May 9th. Finally, StockNews.com started coverage on shares of Radian Group in a report on Thursday, May 18th. They issued a “hold” rating on the stock. One investment analyst has rated the stock with a sell rating, four have given a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $24.64.

Radian Group Stock Performance

NYSE:RDN opened at $25.27 on Thursday. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.10 and a quick ratio of 1.10. The firm has a market capitalization of $3.95 billion, a price-to-earnings ratio of 5.82, a PEG ratio of 1.55 and a beta of 1.15. The company’s 50-day moving average is $23.27 and its two-hundred day moving average is $21.37. Radian Group Inc. has a 1-year low of $17.83 and a 1-year high of $26.06.

Radian Group (NYSE:RDN – Get Rating) last released its quarterly earnings results on Wednesday, May 3rd. The insurance provider reported $0.98 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.75 by $0.23. The business had revenue of $310.62 million for the quarter, compared to the consensus estimate of $313.37 million. Radian Group had a net margin of 59.55% and a return on equity of 19.90%. The business’s revenue was up 6.0% on a year-over-year basis. During the same period in the previous year, the firm earned $1.17 EPS. Analysts forecast that Radian Group Inc. will post 3.28 EPS for the current year.

Radian Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 14th. Stockholders of record on Tuesday, May 30th will be paid a $0.225 dividend. This represents a $0.90 dividend on an annualized basis and a dividend yield of 3.56%. The ex-dividend date of this dividend is Friday, May 26th. Radian Group’s dividend payout ratio (DPR) is 20.74%.

Radian Group Company Profile

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Radian Group, Inc is a holding company, which engages in the provision of mortgage insurance, risk management products, and real estate services to financial institutions. It operates through the Mortgage and Real Estate segments. The Mortgage segment offers credit-related insurance coverage, as well as other credit risk management solutions to mortgage lending institutions and mortgage credit investors.