Van ECK Associates Corp Grows Stock Position in Radian Group Inc. (NYSE:RDN)

Van ECK Associates Corp grew its position in shares of Radian Group Inc. (NYSE:RDN) by 34.0% during the fourth quarter, HoldingsChannel reports. The firm owned 41,001 shares of the insurance provider’s stock after buying an additional 10,412 shares during the period. Van ECK Associates Corp’s holdings in Radian Group were worth $1,171,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in RDN. Donald Smith & CO. Inc. increased its stake in Radian Group by 17.4% during the 4th quarter. Donald Smith & CO. Inc. now owns 4,012,334 shares of the insurance provider’s stock worth $114,552,000 after buying an additional 594,752 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd purchased a new position in Radian Group in the fourth quarter valued at about $16,918,000. Assenagon Asset Management S.A. acquired a new stake in Radian Group during the 4th quarter valued at approximately $16,368,000. Tudor Investment Corp Et Al purchased a new stake in Radian Group during the 3rd quarter worth approximately $6,735,000. Finally, Comerica Bank raised its position in shares of Radian Group by 5,573.5% in the 3rd quarter. Comerica Bank now owns 222,287 shares of the insurance provider’s stock valued at $5,582,000 after purchasing an additional 218,369 shares in 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 reissued a “market perform” rating and set a $35.00 price target (down previously from $36.00) on shares of Radian Group in a research report on Thursday, April 4th. Five research analysts have rated the stock with a hold rating, According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $30.00.

Radian Group Trading Up 1.5 %

NYSE:RDN opened at $31.64 on Friday. The company has a quick ratio of 1.65, a current ratio of 0.40 and a debt-to-equity ratio of 0.39. The company has a market cap of $4.79 billion, a PE ratio of 8.37, a P/E/G ratio of 1.89 and a beta of 1.03. Radian Group Inc. has a 52 week low of $24.34 and a 52 week high of $33.69. The business’s 50 day moving average is $31.04 and its two-hundred day moving average is $28.67.

Radian Group (NYSE:RDN) last posted its quarterly earnings results on Wednesday, May 1st. The insurance provider reported $1.03 EPS for the quarter, beating 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 business had revenue of $319.42 million during the quarter, compared to analyst estimates of $314.76 million. During the same period in the previous year, the business posted $0.98 EPS. The company’s quarterly revenue was up 3.1% on a year-over-year basis. On average, analysts predict that Radian Group Inc. will post 3.27 EPS for the current 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 given a dividend of $0.245 per share. This represents a $0.98 dividend on an annualized basis and a dividend yield of 3.10%. This is a boost from Radian Group’s previous quarterly dividend of $0.23. The ex-dividend date was Friday, February 23rd. 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.