Assenagon Asset Management S.A. Acquires 306,282 Shares of Radian Group Inc. $RDN

Assenagon Asset Management S.A. grew its holdings in shares of Radian Group Inc. (NYSE:RDN) by 125.3% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 550,634 shares of the insurance provider’s stock after acquiring an additional 306,282 shares during the period. Assenagon Asset Management S.A. owned about 0.41% of Radian Group worth $19,817,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the business. Northwestern Mutual Wealth Management Co. raised its position in Radian Group by 178.9% during the 3rd quarter. Northwestern Mutual Wealth Management Co. now owns 742 shares of the insurance provider’s stock worth $27,000 after purchasing an additional 476 shares during the last quarter. Financial Consulate Inc. acquired a new stake in shares of Radian Group in the third quarter valued at about $29,000. Bessemer Group Inc. raised its position in shares of Radian Group by 66.7% during the third quarter. Bessemer Group Inc. now owns 795 shares of the insurance provider’s stock worth $29,000 after acquiring an additional 318 shares during the last quarter. Geneos Wealth Management Inc. lifted its stake in shares of Radian Group by 191.3% in the first quarter. Geneos Wealth Management Inc. now owns 871 shares of the insurance provider’s stock worth $29,000 after acquiring an additional 572 shares during the period. Finally, Salomon & Ludwin LLC acquired a new position in shares of Radian Group in the third quarter worth approximately $33,000. Institutional investors and hedge funds own 95.33% of the company’s stock.

Radian Group Stock Performance

NYSE:RDN opened at $33.08 on Friday. The company has a quick ratio of 3.40, a current ratio of 3.40 and a debt-to-equity ratio of 0.23. Radian Group Inc. has a twelve month low of $29.32 and a twelve month high of $38.84. The company has a fifty day moving average of $33.38 and a 200-day moving average of $34.49. The firm has a market capitalization of $4.51 billion, a P/E ratio of 7.97, a P/E/G ratio of 1.78 and a beta of 0.80.

Radian Group (NYSE:RDN) last issued its earnings results on Thursday, February 19th. The insurance provider reported $1.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.11 by $0.05. Radian Group had a net margin of 46.99% and a return on equity of 13.07%. The business had revenue of $300.51 million for the quarter, compared to analyst estimates of $300.45 million. During the same period in the prior year, the firm earned $1.09 earnings per share. Radian Group’s revenue was up 2.7% on a year-over-year basis. As a group, sell-side analysts anticipate that Radian Group Inc. will post 3.79 EPS for the current year.

Radian Group Announces Dividend

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

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the stock. Barclays set a $40.00 price target on shares of Radian Group in a report on Monday, February 23rd. Weiss Ratings cut shares of Radian Group from a “buy (a-)” rating to a “buy (b+)” rating in a research report on Tuesday, January 13th. Zacks Research raised shares of Radian Group from a “hold” rating to a “strong-buy” rating in a research note on Friday, February 20th. Keefe, Bruyette & Woods raised shares of Radian Group from a “market perform” rating to an “outperform” rating and upped their price target for the company from $41.00 to $42.00 in a research report on Wednesday, February 11th. Finally, Roth Mkm reiterated a “buy” rating and set a $45.00 price target on shares of Radian Group in a report on Friday, January 2nd. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $40.60.

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.