ClariVest Asset Management LLC purchased a new position in shares of Radian Group Inc. (NYSE:RDN) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 89,900 shares of the company’s stock, valued at approximately $936,000.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. State Street Corp boosted its position in shares of Radian Group by 11.6% in the first quarter. State Street Corp now owns 6,701,250 shares of the company’s stock worth $83,095,000 after buying an additional 699,185 shares in the last quarter. BNP Paribas Arbitrage SA boosted its position in shares of Radian Group by 13.2% in the second quarter. BNP Paribas Arbitrage SA now owns 153,714 shares of the company’s stock worth $1,602,000 after buying an additional 17,935 shares in the last quarter. UBS Group AG boosted its position in shares of Radian Group by 6.1% in the first quarter. UBS Group AG now owns 200,513 shares of the company’s stock worth $2,486,000 after buying an additional 11,465 shares in the last quarter. Genesee Valley Trust Co. boosted its position in shares of Radian Group by 2.3% in the second quarter. Genesee Valley Trust Co. now owns 12,216 shares of the company’s stock worth $127,000 after buying an additional 274 shares in the last quarter. Finally, Teachers Advisors Inc. boosted its position in shares of Radian Group by 193.9% in the first quarter. Teachers Advisors Inc. now owns 1,426,969 shares of the company’s stock worth $17,694,000 after buying an additional 941,411 shares in the last quarter. Institutional investors and hedge funds own 93.38% of the company’s stock.
Radian Group Inc. (NYSE:RDN) traded up 0.73% during trading on Friday, hitting $13.74. The stock had a trading volume of 1,873,021 shares. Radian Group Inc. has a 12-month low of $9.29 and a 12-month high of $16.86. The company has a 50 day moving average of $13.62 and a 200-day moving average of $12.40. The company has a market cap of $2.95 billion, a P/E ratio of 10.30 and a beta of 2.01.
Radian Group (NYSE:RDN) last announced its earnings results on Thursday, July 28th. The company reported $0.38 EPS for the quarter, meeting the consensus estimate of $0.38. Radian Group had a return on equity of 12.64% and a net margin of 25.42%. The business earned $330.20 million during the quarter, compared to the consensus estimate of $224.68 million. During the same period in the prior year, the business posted $0.40 earnings per share. On average, equities analysts predict that Radian Group Inc. will post $1.54 EPS for the current year.
A number of research analysts have recently weighed in on RDN shares. Zacks Investment Research upgraded Radian Group from a “sell” rating to a “hold” rating in a research report on Wednesday, August 31st. BTIG Research set a $22.00 price objective on Radian Group and gave the stock a “buy” rating in a research report on Thursday, September 15th. Finally, FBR & Co reiterated an “outperform” rating on shares of Radian Group in a research report on Friday, September 23rd. One analyst has rated the stock with a sell rating, two have assigned a hold rating and nine have issued a buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $16.75.
In related news, EVP Derek Brummer bought 16,000 shares of Radian Group stock in a transaction dated Wednesday, August 10th. The stock was acquired at an average cost of $12.87 per share, with a total value of $205,920.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 1.83% of the company’s stock.
Radian Group Company Profile
Radian Group Inc is a holding company that provides mortgage insurance, and products and services to the real estate and mortgage finance industries. The Company operates in two segments: Mortgage Insurance and Services. The Mortgage Insurance segment provides credit-related insurance coverage, principally through private mortgage insurance to mortgage lending institutions.
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