GAMMA Investing LLC Makes New $101,000 Investment in Radian Group Inc. (NYSE:RDN)

GAMMA Investing LLC bought a new position in shares of Radian Group Inc. (NYSE:RDN) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 3,501 shares of the insurance provider’s stock, valued at approximately $101,000.

Several other hedge funds also recently bought and sold shares of the stock. Illinois Municipal Retirement Fund boosted its stake in shares of Radian Group by 3.1% in the fourth quarter. Illinois Municipal Retirement Fund now owns 94,207 shares of the insurance provider’s stock valued at $2,690,000 after purchasing an additional 2,797 shares during the period. California Public Employees Retirement System lifted its stake in Radian Group by 2.4% in the fourth quarter. California Public Employees Retirement System now owns 334,765 shares of the insurance provider’s stock worth $9,558,000 after acquiring an additional 7,725 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd purchased a new position in Radian Group in the fourth quarter worth approximately $16,918,000. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Radian Group by 18.1% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 33,363 shares of the insurance provider’s stock worth $953,000 after purchasing an additional 5,120 shares in the last quarter. Finally, Louisiana State Employees Retirement System acquired a new stake in Radian Group during the fourth quarter worth approximately $2,187,000. Hedge funds and other institutional investors own 95.33% of the company’s stock.

Analysts Set New Price Targets

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

Radian Group Stock Performance

Shares of RDN opened at $30.35 on Monday. The stock has a market capitalization of $4.60 billion, a P/E ratio of 8.03, a P/E/G ratio of 1.86 and a beta of 1.02. Radian Group Inc. has a 1 year low of $22.93 and a 1 year high of $33.69. The company’s fifty day moving average is $30.51 and its two-hundred day moving average is $28.41. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.65 and a current ratio of 1.65.

Radian Group (NYSE:RDN) last issued 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. Radian Group had a net margin of 48.51% and a return on equity of 14.75%. The company had revenue of $328.64 million for the quarter, compared to analyst estimates of $319.04 million. During the same period in the previous year, the firm earned $1.05 EPS. The business’s revenue was up 4.4% on a year-over-year basis. On average, sell-side analysts predict that Radian Group Inc. will post 3.27 earnings per share for the current year.

Radian Group Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 12th. Investors of record on Monday, February 26th were paid a $0.245 dividend. This is an increase from Radian Group’s previous quarterly dividend of $0.23. The ex-dividend date of this dividend was Friday, February 23rd. This represents a $0.98 annualized dividend and a yield of 3.23%. Radian Group’s 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.