Mackenzie Financial Corp Sells 762 Shares of Radian Group Inc. (NYSE:RDN)

Mackenzie Financial Corp reduced its holdings in shares of Radian Group Inc. (NYSE:RDN) by 2.2% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 34,326 shares of the insurance provider’s stock after selling 762 shares during the quarter. Mackenzie Financial Corp’s holdings in Radian Group were worth $980,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of RDN. Robeco Institutional Asset Management B.V. lifted its position in shares of Radian Group by 117.1% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 1,694,765 shares of the insurance provider’s stock worth $42,556,000 after buying an additional 914,046 shares during the last quarter. Assenagon Asset Management S.A. acquired a new position in Radian Group in the 4th quarter worth about $16,368,000. Tudor Investment Corp Et Al acquired a new position in Radian Group in the 3rd quarter worth about $6,735,000. Comerica Bank increased its holdings in Radian Group by 5,573.5% in the 3rd quarter. Comerica Bank now owns 222,287 shares of the insurance provider’s stock worth $5,582,000 after purchasing an additional 218,369 shares in the last quarter. Finally, American Century Companies Inc. increased its holdings in Radian Group by 12.4% in the 3rd quarter. American Century Companies Inc. now owns 1,855,310 shares of the insurance provider’s stock worth $46,587,000 after purchasing an additional 204,459 shares in the last quarter. 95.33% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

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

Radian Group Price Performance

Shares of RDN opened at $30.31 on Friday. The stock has a market cap of $4.59 billion, a PE ratio of 7.99, a PEG ratio of 1.87 and a beta of 1.02. The business has a 50-day simple moving average of $30.42 and a two-hundred day simple moving average of $28.35. The company has a quick ratio of 1.65, a current ratio of 1.65 and a debt-to-equity ratio of 0.35. Radian Group Inc. has a 12-month low of $22.93 and a 12-month high of $33.69.

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

Radian Group Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 12th. Stockholders of record on Monday, February 26th were paid a $0.245 dividend. This is a boost from Radian Group’s previous quarterly dividend of $0.23. The ex-dividend date was Friday, February 23rd. This represents a $0.98 annualized dividend and a dividend yield of 3.23%. Radian Group’s dividend payout ratio is presently 25.93%.

Radian Group Profile

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.