Intech Investment Management LLC Has $2.28 Million Stake in Radian Group Inc. $RDN

Intech Investment Management LLC increased its stake in Radian Group Inc. (NYSE:RDN) by 10.3% in the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 69,029 shares of the insurance provider’s stock after purchasing an additional 6,429 shares during the quarter. Intech Investment Management LLC owned approximately 0.05% of Radian Group worth $2,283,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Federated Hermes Inc. lifted its holdings in Radian Group by 11.8% in the 1st quarter. Federated Hermes Inc. now owns 110,772 shares of the insurance provider’s stock worth $3,663,000 after purchasing an additional 11,648 shares during the last quarter. Natixis Advisors LLC lifted its holdings in Radian Group by 3.7% in the 1st quarter. Natixis Advisors LLC now owns 290,314 shares of the insurance provider’s stock worth $9,601,000 after purchasing an additional 10,368 shares during the last quarter. Jefferies Financial Group Inc. lifted its holdings in Radian Group by 169.5% in the 1st quarter. Jefferies Financial Group Inc. now owns 104,717 shares of the insurance provider’s stock worth $3,463,000 after purchasing an additional 65,867 shares during the last quarter. Teacher Retirement System of Texas lifted its holdings in shares of Radian Group by 16.4% during the first quarter. Teacher Retirement System of Texas now owns 39,532 shares of the insurance provider’s stock worth $1,307,000 after buying an additional 5,570 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC lifted its holdings in shares of Radian Group by 54.0% during the first quarter. Allspring Global Investments Holdings LLC now owns 14,780 shares of the insurance provider’s stock worth $489,000 after buying an additional 5,182 shares during the last quarter. 95.33% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Radian Group

In related news, EVP Edward J. Hoffman sold 20,000 shares of the firm’s stock in a transaction dated Monday, June 23rd. The stock was sold at an average price of $36.00, for a total value of $720,000.00. Following the transaction, the executive vice president owned 161,586 shares in the company, valued at $5,817,096. This trade represents a 11.01% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 2.16% of the stock is currently owned by corporate insiders.

Radian Group Price Performance

Radian Group stock opened at $34.76 on Tuesday. The business’s 50-day simple moving average is $34.38 and its 200 day simple moving average is $33.63. The stock has a market cap of $4.71 billion, a price-to-earnings ratio of 8.75 and a beta of 0.75. Radian Group Inc. has a 12-month low of $29.32 and a 12-month high of $36.99. The company has a quick ratio of 1.68, a current ratio of 1.68 and a debt-to-equity ratio of 0.54.

Radian Group (NYSE:RDN) last posted its quarterly earnings results on Wednesday, July 30th. The insurance provider reported $1.01 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.93 by $0.08. The business had revenue of $318.00 million for the quarter, compared to analysts’ expectations of $321.97 million. Radian Group had a return on equity of 13.25% and a net margin of 45.62%.The firm’s quarterly revenue was down .9% compared to the same quarter last year. During the same quarter last year, the business earned $0.98 earnings per share. As a group, research analysts anticipate that Radian Group Inc. will post 3.79 earnings per share for the current year.

Radian Group declared that its board has authorized a stock repurchase plan on Wednesday, May 21st that authorizes the company to repurchase $750.00 million in outstanding shares. This repurchase authorization authorizes the insurance provider to buy up to 16.9% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s management believes its stock is undervalued.

Radian Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 9th. Investors of record on Monday, August 25th were issued a $0.255 dividend. The ex-dividend date was Monday, August 25th. This represents a $1.02 annualized dividend and a yield of 2.9%. Radian Group’s dividend payout ratio (DPR) is currently 25.69%.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on RDN. Compass Point lowered Radian Group from a “strong-buy” rating to a “hold” rating in a report on Friday, May 23rd. UBS Group reiterated a “neutral” rating and set a $38.00 price target (up from $36.00) on shares of Radian Group in a report on Monday, July 14th. Barclays upped their price target on Radian Group from $34.00 to $35.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 8th. Finally, Keefe, Bruyette & Woods lowered Radian Group from a “moderate buy” rating to a “hold” rating and set a $38.00 target price for the company. in a research note on Monday, July 7th. Four research analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $37.00.

About Radian Group

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.