New York State Common Retirement Fund Decreases Position in Radian Group Inc. (NYSE:RDN)

New York State Common Retirement Fund trimmed its stake in Radian Group Inc. (NYSE:RDN) by 2.3% in the fourth quarter, HoldingsChannel.com reports. The fund owned 78,714 shares of the insurance provider’s stock after selling 1,823 shares during the quarter. New York State Common Retirement Fund’s holdings in Radian Group were worth $2,247,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in the stock. Ellsworth Advisors LLC raised its holdings in shares of Radian Group by 2.4% in the fourth quarter. Ellsworth Advisors LLC now owns 15,716 shares of the insurance provider’s stock worth $449,000 after acquiring an additional 372 shares during the last quarter. Exchange Traded Concepts LLC raised its holdings in shares of Radian Group by 1.4% in the fourth quarter. Exchange Traded Concepts LLC now owns 27,318 shares of the insurance provider’s stock worth $780,000 after acquiring an additional 389 shares during the last quarter. Arizona State Retirement System raised its holdings in shares of Radian Group by 1.1% in the third quarter. Arizona State Retirement System now owns 44,518 shares of the insurance provider’s stock worth $1,118,000 after acquiring an additional 466 shares during the last quarter. Mariner LLC raised its holdings in shares of Radian Group by 2.2% in the third quarter. Mariner LLC now owns 24,220 shares of the insurance provider’s stock worth $608,000 after acquiring an additional 515 shares during the last quarter. Finally, Vanguard Personalized Indexing Management LLC raised its holdings in shares of Radian Group by 3.0% in the third quarter. Vanguard Personalized Indexing Management LLC now owns 18,866 shares of the insurance provider’s stock worth $474,000 after acquiring an additional 546 shares during the last quarter. 95.33% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

Radian Group Stock Performance

NYSE RDN opened at $31.50 on Wednesday. The firm has a market capitalization of $4.77 billion, a P/E ratio of 8.33, a P/E/G ratio of 1.89 and a beta of 1.03. Radian Group Inc. has a 1-year low of $24.34 and a 1-year high of $33.69. The company has a debt-to-equity ratio of 0.39, a current ratio of 0.40 and a quick ratio of 1.65. The business’s 50-day simple moving average is $30.94 and its 200-day simple moving average is $28.64.

Radian Group (NYSE:RDN) last released its quarterly earnings data on Wednesday, May 1st. The insurance provider reported $1.03 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.83 by $0.20. Radian Group had a net margin of 47.74% and a return on equity of 14.52%. The company had revenue of $319.42 million during the quarter, compared to the consensus estimate of $314.76 million. During the same period in the previous year, the firm earned $0.98 earnings per share. Radian Group’s revenue for the quarter was up 3.1% on a year-over-year basis. Equities analysts predict that Radian Group Inc. will post 3.27 EPS for the current year.

Radian Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 12th. Stockholders of record on Monday, February 26th were given a $0.245 dividend. The ex-dividend date was Friday, February 23rd. This represents a $0.98 annualized dividend and a dividend yield of 3.11%. This is a positive change from Radian Group’s previous quarterly dividend of $0.23. Radian Group’s dividend payout ratio is presently 25.93%.

Radian Group Company 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.