Allspring Global Investments Holdings LLC Purchases 5,182 Shares of Radian Group Inc. (NYSE:RDN)

Allspring Global Investments Holdings LLC increased its position in Radian Group Inc. (NYSE:RDN) by 54.0% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 14,780 shares of the insurance provider’s stock after buying an additional 5,182 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Radian Group were worth $489,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the company. Norges Bank purchased a new position in shares of Radian Group during the fourth quarter valued at about $73,693,000. First Trust Advisors LP grew its position in shares of Radian Group by 20.6% during the fourth 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 in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of Radian Group by 109.1% during the fourth 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 in the last quarter. Canada Pension Plan Investment Board purchased a new position in shares of Radian Group during the fourth quarter valued at about $9,564,000. Finally, American Century Companies Inc. grew its position in shares of Radian Group by 7.9% during the fourth quarter. American Century Companies Inc. now owns 3,351,361 shares of the insurance provider’s stock valued at $106,305,000 after purchasing an additional 245,303 shares in the last quarter. Institutional investors own 95.33% of the company’s stock.

Insider Buying and Selling at Radian Group

In other news, Director Howard Bernard Culang sold 8,773 shares of the business’s stock in a transaction dated Friday, June 6th. The shares were sold at an average price of $33.37, for a total transaction of $292,755.01. Following the completion of the sale, the director owned 8,050 shares of the company’s stock, valued at $268,628.50. The trade was a 52.15% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Lisa Mumford sold 2,500 shares of the business’s stock in a transaction dated Friday, June 6th. The stock was sold at an average price of $33.45, for a total transaction of $83,625.00. Following the sale, the director directly owned 22,329 shares of the company’s stock, valued at $746,905.05. This represents a 10.07% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 86,378 shares of company stock valued at $2,944,414. Corporate insiders own 2.01% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently weighed in on RDN shares. Barclays raised their price objective on Radian Group from $34.00 to $35.00 and gave the company an “equal weight” rating in a research report on Tuesday. UBS Group increased their price target on shares of Radian Group from $34.00 to $36.00 and gave the company a “neutral” rating in a report on Monday, May 5th. Compass Point downgraded shares of Radian Group from a “strong-buy” rating to a “hold” rating in a report on Friday, May 23rd. Finally, Keefe, Bruyette & Woods downgraded shares of Radian Group from a “moderate buy” rating to a “hold” rating and set a $38.00 price target for the company. in a report on Monday. Five research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $37.17.

Radian Group Price Performance

NYSE RDN opened at $34.24 on Friday. The firm’s fifty day simple moving average is $34.50 and its two-hundred day simple moving average is $33.08. The company has a current ratio of 3.44, a quick ratio of 3.44 and a debt-to-equity ratio of 0.52. Radian Group Inc. has a 12-month low of $29.32 and a 12-month high of $37.86. The firm has a market capitalization of $4.60 billion, a P/E ratio of 8.71 and a beta of 0.72.

Radian Group (NYSE:RDN) last posted its earnings results on Wednesday, April 30th. The insurance provider reported $0.99 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.95 by $0.04. Radian Group had a net margin of 46.29% and a return on equity of 13.54%. The company had revenue of $318.11 million during the quarter, compared to the consensus estimate of $326.99 million. During the same period in the previous year, the firm posted $1.03 earnings per share. The firm’s quarterly revenue was down .4% on a year-over-year basis. Analysts forecast that Radian Group Inc. will post 3.79 EPS for the current fiscal year.

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

Radian Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 17th. Stockholders of record on Monday, June 2nd were paid a dividend of $0.255 per share. The ex-dividend date of this dividend was Monday, June 2nd. This represents a $1.02 dividend on an annualized basis and a dividend yield of 2.98%. Radian Group’s dividend payout ratio is currently 25.95%.

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.