Bank of New York Mellon Corp Decreases Stock Holdings in Radian Group Inc. $RDN

Bank of New York Mellon Corp reduced its stake in shares of Radian Group Inc. (NYSE:RDN) by 4.8% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,123,456 shares of the insurance provider’s stock after selling 57,044 shares during the period. Bank of New York Mellon Corp owned 0.83% of Radian Group worth $37,164,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Northwestern Mutual Wealth Management Co. grew its stake in shares of Radian Group by 178.9% in the 3rd quarter. Northwestern Mutual Wealth Management Co. now owns 742 shares of the insurance provider’s stock valued at $27,000 after buying an additional 476 shares during the period. V Square Quantitative Management LLC purchased a new stake in shares of Radian Group during the 4th quarter valued at approximately $29,000. Geneos Wealth Management Inc. raised its position in shares of Radian Group by 191.3% during the 1st quarter. Geneos Wealth Management Inc. now owns 871 shares of the insurance provider’s stock valued at $29,000 after buying an additional 572 shares during the period. Fifth Third Bancorp lifted its holdings in Radian Group by 65.8% in the fourth quarter. Fifth Third Bancorp now owns 907 shares of the insurance provider’s stock valued at $33,000 after acquiring an additional 360 shares during the last quarter. Finally, Measured Wealth Private Client Group LLC acquired a new position in Radian Group in the third quarter valued at approximately $34,000. 95.33% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Radian Group

In other Radian Group news, CEO Michael S. Weinbach purchased 49,513 shares of the company’s stock in a transaction on Tuesday, June 2nd. The stock was acquired at an average price of $34.04 per share, for a total transaction of $1,685,422.52. Following the completion of the purchase, the chief executive officer directly owned 170,000 shares in the company, valued at approximately $5,786,800. The trade was a 41.09% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Noel Joseph Spiegel sold 4,834 shares of the company’s stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $36.19, for a total value of $174,942.46. Following the sale, the director directly owned 20,008 shares in the company, valued at $724,089.52. This represents a 19.46% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 45,516 shares of company stock worth $1,682,576 over the last 90 days. 2.03% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of brokerages recently issued reports on RDN. Zacks Research downgraded Radian Group from a “strong-buy” rating to a “hold” rating in a research report on Monday, April 20th. Royal Bank Of Canada assumed coverage on shares of Radian Group in a research report on Friday, May 22nd. They issued an “outperform” rating and a $47.00 target price on the stock. Keefe, Bruyette & Woods increased their target price on shares of Radian Group from $43.00 to $46.00 and gave the stock an “outperform” rating in a research note on Thursday, June 25th. Bank of America upgraded shares of Radian Group from an “underperform” rating to a “buy” rating and lifted their price target for the company from $35.00 to $43.00 in a research report on Wednesday, April 29th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Radian Group in a research note on Tuesday, June 16th. Five analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, Radian Group currently has a consensus rating of “Moderate Buy” and an average price target of $43.17.

Radian Group Stock Performance

NYSE RDN opened at $38.63 on Friday. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.58 and a quick ratio of 0.58. The company has a market cap of $5.14 billion, a P/E ratio of 9.51, a P/E/G ratio of 0.97 and a beta of 0.72. The stock has a 50-day moving average of $36.42 and a two-hundred day moving average of $34.96. Radian Group Inc. has a 1-year low of $31.50 and a 1-year high of $41.05.

Radian Group (NYSE:RDN) last issued its quarterly earnings results on Thursday, May 7th. The insurance provider reported $1.27 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.17 by $0.10. Radian Group had a net margin of 40.50% and a return on equity of 13.57%. The business had revenue of $466.34 million for the quarter, compared to analysts’ expectations of $377.83 million. During the same quarter in the prior year, the company earned $0.99 earnings per share. The business’s quarterly revenue was up 46.6% on a year-over-year basis. As a group, analysts anticipate that Radian Group Inc. will post 5.17 EPS for the current year.

Radian Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 17th. Investors of record on Tuesday, June 2nd were paid a dividend of $0.255 per share. This represents a $1.02 annualized dividend and a yield of 2.6%. The ex-dividend date of this dividend was Tuesday, June 2nd. Radian Group’s dividend payout ratio is presently 25.12%.

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.