Radian Group Inc. (NYSE:RDN) Stake Lowered by New York State Teachers Retirement System

New York State Teachers Retirement System reduced its stake in shares of Radian Group Inc. (NYSE:RDN) by 3.1% during the 4th quarter, HoldingsChannel reports. The fund owned 72,096 shares of the insurance provider’s stock after selling 2,282 shares during the period. New York State Teachers Retirement System’s holdings in Radian Group were worth $2,058,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Point72 Middle East FZE purchased a new position in shares of Radian Group during the 4th quarter valued at $37,000. Ensign Peak Advisors Inc purchased a new position in shares of Radian Group during the 3rd quarter valued at $73,000. Lazard Asset Management LLC grew its holdings in shares of Radian Group by 194.7% during the 4th quarter. Lazard Asset Management LLC now owns 4,285 shares of the insurance provider’s stock valued at $81,000 after acquiring an additional 2,831 shares in the last quarter. Captrust Financial Advisors boosted its holdings in Radian Group by 49.8% in the second quarter. Captrust Financial Advisors now owns 4,441 shares of the insurance provider’s stock worth $87,000 after purchasing an additional 1,476 shares in the last quarter. Finally, Comerica Bank acquired a new position in Radian Group during the second quarter worth $99,000. 95.33% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Separately, Keefe, Bruyette & Woods reissued a “market perform” rating and set a $35.00 target price (down from $36.00) on shares of Radian Group in a research report on Thursday, April 4th. One analyst has rated the stock with a sell rating and five have issued a hold rating to the company. Based on data from MarketBeat.com, Radian Group presently has a consensus rating of “Hold” and a consensus target price of $30.00.

Radian Group Trading Down 1.1 %

Radian Group stock opened at $29.48 on Wednesday. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.65 and a quick ratio of 1.65. The company has a market capitalization of $4.47 billion, a price-to-earnings ratio of 7.80, a PEG ratio of 1.85 and a beta of 1.02. Radian Group Inc. has a one year low of $22.93 and a one year high of $33.69. The company’s fifty day moving average price is $30.18 and its two-hundred day moving average price is $28.19.

Radian Group (NYSE:RDN) last posted its earnings results on Wednesday, February 7th. The insurance provider reported $0.96 EPS for the quarter, topping the consensus estimate of $0.86 by $0.10. The firm had revenue of $328.64 million for the quarter, compared to the consensus estimate of $319.04 million. Radian Group had a net margin of 48.51% and a return on equity of 14.75%. The business’s quarterly revenue was up 4.4% on a year-over-year basis. During the same period in the prior year, the business posted $1.05 earnings per share. On average, analysts forecast that Radian Group Inc. will post 3.27 earnings per share for the current fiscal year.

Radian Group Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 12th. Stockholders of record on Monday, February 26th were given a $0.245 dividend. This is an increase from Radian Group’s previous quarterly dividend of $0.23. This represents a $0.98 annualized dividend and a dividend yield of 3.32%. The ex-dividend date of this dividend was Friday, February 23rd. Radian Group’s dividend payout ratio (DPR) is currently 25.93%.

About Radian Group

Radian Group Inc, together with its subsidiaries, engages in the mortgage and real estate services business in the United States. It operates through two segments, Mortgage Insurance and Homegenius segments. The Mortgage Insurance segment aggregates, manages, and distributes U.S. mortgage credit risk for mortgage lending institutions and mortgage credit investors, through private mortgage insurance on residential first-lien mortgage loans; and other credit risk management solutions, including contract underwriting.