State of Alaska Department of Revenue Decreases Position in Radian Group Inc. (NYSE:RDN)

State of Alaska Department of Revenue lessened its holdings in shares of Radian Group Inc. (NYSE:RDN) by 5.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 80,378 shares of the insurance provider’s stock after selling 4,264 shares during the period. State of Alaska Department of Revenue owned approximately 0.06% of Radian Group worth $2,658,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in RDN. Norges Bank purchased a new stake in shares of Radian Group during the 4th quarter valued at $73,693,000. First Trust Advisors LP lifted its holdings in shares of Radian Group by 20.6% during the 4th quarter. First Trust Advisors LP now owns 10,766,237 shares of the insurance provider’s stock valued at $341,505,000 after purchasing an additional 1,836,020 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of Radian Group by 109.1% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 901,260 shares of the insurance provider’s stock valued at $28,588,000 after purchasing an additional 470,158 shares during the last quarter. Canada Pension Plan Investment Board purchased a new stake in shares of Radian Group during the 4th quarter valued at $9,564,000. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of Radian Group by 4.2% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 6,094,163 shares of the insurance provider’s stock valued at $193,307,000 after purchasing an additional 248,423 shares during the last quarter. Hedge funds and other institutional investors own 95.33% of the company’s stock.

Radian Group Stock Performance

Shares of RDN stock opened at $34.93 on Monday. The firm has a market capitalization of $4.69 billion, a price-to-earnings ratio of 8.89 and a beta of 0.71. The company has a debt-to-equity ratio of 0.52, a current ratio of 3.44 and a quick ratio of 3.44. The business has a fifty day moving average of $33.33 and a 200 day moving average of $32.80. Radian Group Inc. has a 1 year low of $29.32 and a 1 year high of $37.86.

Radian Group (NYSE:RDN) last announced its quarterly earnings results on Wednesday, April 30th. The insurance provider reported $0.99 earnings per share for the quarter, topping the consensus estimate of $0.95 by $0.04. The company had revenue of $318.11 million for the quarter, compared to the consensus estimate of $326.99 million. Radian Group had a return on equity of 13.54% and a net margin of 46.29%. The firm’s revenue for the quarter was down .4% compared to the same quarter last year. During the same period last year, the firm earned $1.03 EPS. As a group, research analysts expect that Radian Group Inc. will post 3.79 earnings per share for the current year.

Radian Group declared that its Board of Directors has authorized a stock buyback plan on Wednesday, May 21st that allows the company to repurchase $750.00 million in shares. This repurchase authorization allows the insurance provider to reacquire up to 16.9% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s leadership believes its shares are undervalued.

Radian Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 17th. Shareholders of record on Monday, June 2nd were given a dividend of $0.255 per share. This represents a $1.02 annualized dividend and a yield of 2.92%. The ex-dividend date of this dividend was Monday, June 2nd. Radian Group’s dividend payout ratio is currently 25.95%.

Insiders Place Their Bets

In other Radian Group news, Director Howard Bernard Culang sold 8,773 shares of the stock in a transaction dated Friday, June 6th. The stock was sold at an average price of $33.37, for a total transaction of $292,755.01. Following the sale, the director now directly owns 8,050 shares of the company’s stock, valued at approximately $268,628.50. This trade represents a 52.15% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Edward J. Hoffman sold 10,000 shares of the stock in a transaction dated Wednesday, June 4th. The stock was sold at an average price of $33.72, for a total value of $337,200.00. Following the sale, the executive vice president now directly owns 201,586 shares in the company, valued at $6,797,479.92. This represents a 4.73% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 66,378 shares of company stock valued at $2,224,414. Company insiders own 2.16% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on RDN. Keefe, Bruyette & Woods restated an “outperform” rating and issued a $38.00 target price (up previously from $37.00) on shares of Radian Group in a research note on Friday, May 2nd. UBS Group raised their target price on Radian Group from $34.00 to $36.00 and gave the stock a “neutral” rating in a research note on Monday, May 5th. Finally, Compass Point lowered Radian Group from a “strong-buy” rating to a “hold” rating in a research note on Friday, May 23rd. Four investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $36.83.

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.