Norges Bank Invests $85.79 Million in Radian Group Inc. $RDN

Norges Bank purchased a new stake in Radian Group Inc. (NYSE:RDN) during the 2nd quarter, Holdings Channel reports. The firm purchased 2,381,581 shares of the insurance provider’s stock, valued at approximately $85,785,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Geneos Wealth Management Inc. raised its stake in 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 acquiring an additional 572 shares in the last quarter. Covestor Ltd increased its holdings in shares of Radian Group by 42.6% during the first quarter. Covestor Ltd now owns 1,927 shares of the insurance provider’s stock valued at $64,000 after purchasing an additional 576 shares during the period. Allworth Financial LP raised its stake in shares of Radian Group by 1,049.7% during the second quarter. Allworth Financial LP now owns 1,897 shares of the insurance provider’s stock valued at $68,000 after purchasing an additional 1,732 shares in the last quarter. Virtus Advisers LLC acquired a new stake in Radian Group in the first quarter worth about $88,000. Finally, Jones Financial Companies Lllp grew its position in Radian Group by 14.8% in the 1st quarter. Jones Financial Companies Lllp now owns 2,764 shares of the insurance provider’s stock valued at $91,000 after buying an additional 357 shares in the last quarter. 95.33% of the stock is currently owned by institutional investors and hedge funds.

Radian Group Price Performance

Shares of RDN opened at $34.68 on Friday. The business’s 50-day moving average is $34.62 and its 200-day moving average is $34.62. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.67 and a quick ratio of 1.67. The company has a market capitalization of $4.70 billion, a price-to-earnings ratio of 8.65 and a beta of 0.83. Radian Group Inc. has a fifty-two week low of $29.32 and a fifty-two week high of $38.84.

Radian Group (NYSE:RDN) last released its quarterly earnings data on Wednesday, November 5th. The insurance provider reported $1.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.95 by $0.20. The firm had revenue of $303.19 million during the quarter, compared to analysts’ expectations of $308.77 million. Radian Group had a return on equity of 13.29% and a net margin of 45.90%.The business’s revenue for the quarter was down 3.3% on a year-over-year basis. During the same quarter last year, the firm earned $1.03 earnings per share. Equities research analysts expect that Radian Group Inc. will post 3.79 EPS for the current fiscal year.

Radian Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 9th. Investors of record on Monday, November 24th will be issued a dividend of $0.255 per share. This represents a $1.02 annualized dividend and a dividend yield of 2.9%. The ex-dividend date of this dividend is Monday, November 24th. Radian Group’s dividend payout ratio is currently 25.44%.

Insiders Place Their Bets

In other news, EVP Edward J. Hoffman sold 10,000 shares of the stock in a transaction that occurred on Thursday, September 18th. The stock was sold at an average price of $37.00, for a total value of $370,000.00. Following the completion of the sale, the executive vice president directly owned 153,708 shares of the company’s stock, valued at approximately $5,687,196. This represents a 6.11% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Eric Ray sold 13,957 shares of the firm’s stock in a transaction on Tuesday, December 2nd. The stock was sold at an average price of $35.60, for a total transaction of $496,869.20. The disclosure for this sale is available in the SEC filing. Company insiders own 2.01% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. UBS Group reduced their price target on shares of Radian Group from $43.00 to $40.00 and set a “neutral” rating for the company in a research note on Wednesday, October 15th. Zacks Research upgraded Radian Group from a “hold” rating to a “strong-buy” rating in a research report on Monday, September 22nd. Barclays increased their price target on Radian Group from $35.00 to $37.00 and gave the company a “cautious” rating in a research note on Monday, October 6th. Finally, Weiss Ratings reissued a “buy (a-)” rating on shares of Radian Group in a research note on Monday. Two equities research analysts have rated the stock with a Strong Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Radian Group has an average rating of “Moderate Buy” and a consensus price target of $38.00.

Radian Group Profile

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.