JPMorgan Chase & Co. Cuts Holdings in Radian Group Inc. $RDN

JPMorgan Chase & Co. trimmed its position in Radian Group Inc. (NYSE:RDN) by 51.0% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 1,022,845 shares of the insurance provider’s stock after selling 1,063,945 shares during the period. JPMorgan Chase & Co. owned about 0.75% of Radian Group worth $37,047,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of RDN. Norges Bank purchased a new position in shares of Radian Group in the 2nd quarter worth approximately $85,785,000. Balyasny Asset Management L.P. increased its position in shares of Radian Group by 151.7% during the third quarter. Balyasny Asset Management L.P. now owns 1,873,049 shares of the insurance provider’s stock valued at $67,842,000 after acquiring an additional 1,128,852 shares during the last quarter. Vanguard Group Inc. increased its position in shares of Radian Group by 2.7% during the third quarter. Vanguard Group Inc. now owns 16,272,597 shares of the insurance provider’s stock valued at $589,393,000 after acquiring an additional 427,473 shares during the last quarter. Millennium Management LLC lifted its holdings in Radian Group by 59.7% during the third quarter. Millennium Management LLC now owns 1,007,172 shares of the insurance provider’s stock worth $36,480,000 after acquiring an additional 376,533 shares during the period. Finally, Compass Rose Asset Management LP purchased a new position in Radian Group in the third quarter worth $9,960,000. Institutional investors own 95.33% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on RDN. Roth Mkm restated a “buy” rating and issued a $45.00 price objective on shares of Radian Group in a research note on Friday, January 2nd. UBS Group lowered their target price on Radian Group from $41.00 to $39.00 and set a “neutral” rating on the stock in a research note on Thursday, March 12th. Zacks Research upgraded shares of Radian Group from a “hold” rating to a “strong-buy” rating in a research report on Friday, February 20th. Weiss Ratings downgraded shares of Radian Group from a “buy (a-)” rating to a “buy (b+)” rating in a report on Tuesday, January 13th. Finally, Barclays set a $40.00 price objective on shares of Radian Group in a research report on Monday, February 23rd. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $40.60.

Radian Group Stock Performance

NYSE:RDN opened at $32.44 on Friday. The company has a market capitalization of $4.42 billion, a P/E ratio of 7.82, a P/E/G ratio of 1.75 and a beta of 0.80. The business has a fifty day simple moving average of $33.37 and a two-hundred day simple moving average of $34.55. The company has a debt-to-equity ratio of 0.23, a current ratio of 3.40 and a quick ratio of 3.40. Radian Group Inc. has a 1 year low of $29.32 and a 1 year high of $38.84.

Radian Group (NYSE:RDN) last issued its quarterly earnings results on Wednesday, February 18th. The insurance provider reported $1.16 EPS for the quarter, beating analysts’ consensus estimates of $1.11 by $0.05. The firm had revenue of $300.51 million for the quarter, compared to analysts’ expectations of $300.45 million. Radian Group had a return on equity of 13.07% and a net margin of 46.99%.The business’s revenue for the quarter was up 2.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.09 EPS. On average, analysts expect that Radian Group Inc. will post 3.79 earnings per share for the current year.

Radian Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 10th. Shareholders of record on Monday, February 23rd were issued a dividend of $0.255 per share. The ex-dividend date of this dividend was Monday, February 23rd. This represents a $1.02 annualized dividend and a yield of 3.1%. Radian Group’s dividend payout ratio is 24.58%.

Radian Group Company Profile

Radian Group Inc (NYSE:RDN) is a leading provider of private mortgage insurance and related risk management solutions in the United States. Through its primary subsidiary, Radian Guaranty Inc, the company underwrites borrower-paid and lender-paid mortgage insurance that protects lenders and investors from potential losses arising from borrower defaults. Radian’s core business focuses on supporting residential mortgage originations and servicing by offering capital-efficient credit protection and credit risk transfer strategies.

Beyond mortgage insurance, Radian offers an array of real estate transaction services under its Radian Title division.