Summit Global Investments Purchases Shares of 34,299 Radian Group Inc. $RDN

Summit Global Investments purchased a new position in shares of Radian Group Inc. (NYSE:RDN) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 34,299 shares of the insurance provider’s stock, valued at approximately $1,292,000.

A number of other hedge funds have also recently made changes to their positions in the business. Norges Bank bought a new position in shares of Radian Group during the 4th quarter valued at $77,364,000. Balyasny Asset Management L.P. lifted its stake in Radian Group by 151.7% in the third quarter. Balyasny Asset Management L.P. now owns 1,873,049 shares of the insurance provider’s stock worth $67,842,000 after purchasing an additional 1,128,852 shares during the last quarter. Donald Smith & CO. Inc. boosted its position in Radian Group by 43.7% during the fourth quarter. Donald Smith & CO. Inc. now owns 3,012,255 shares of the insurance provider’s stock valued at $108,411,000 after buying an additional 916,003 shares during the period. Millennium Management LLC boosted its position 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 valued at $36,480,000 after buying an additional 376,533 shares during the period. Finally, Aegis Financial Corp purchased a new stake in Radian Group during the first quarter valued at about $9,768,000. 95.33% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

RDN has been the topic of several analyst reports. Bank of America upgraded Radian Group from an “underperform” rating to a “buy” rating and lifted their price objective for the stock from $35.00 to $43.00 in a report on Wednesday, April 29th. Wall Street Zen cut Radian Group from a “buy” rating to a “hold” rating in a report on Sunday, August 9th. Zacks Research lowered Radian Group from a “strong-buy” rating to a “hold” rating in a research report on Monday, April 20th. Weiss Ratings raised Radian Group from a “buy (b)” rating to a “buy (b+)” rating in a research note on Tuesday. Finally, Keefe, Bruyette & Woods lowered their price objective on Radian Group from $46.00 to $44.00 and set an “outperform” rating for the company in a research report on Tuesday. Five analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $42.17.

Insiders Place Their Bets

In other news, Chairman Howard Bernard Culang sold 5,000 shares of Radian Group stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $36.20, for a total value of $181,000.00. Following the sale, the chairman directly owned 11,662 shares in the company, valued at approximately $422,164.40. This trade represents a 30.01% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Michael S. Weinbach acquired 120,487 shares of the business’s stock in a transaction dated Monday, June 1st. The stock was acquired at an average price of $33.89 per share, for a total transaction of $4,083,304.43. Following the completion of the transaction, the chief executive officer owned 120,487 shares in the company, valued at approximately $4,083,304.43. The trade was a ? increase in their position. The SEC filing for this purchase provides additional information. Insiders have sold 15,517 shares of company stock worth $557,610 in the last quarter. 2.03% of the stock is currently owned by company insiders.

Radian Group Price Performance

Shares of Radian Group stock opened at $37.20 on Friday. The company’s fifty day simple moving average is $37.21 and its two-hundred day simple moving average is $35.38. Radian Group Inc. has a 12-month low of $31.50 and a 12-month high of $41.05. The firm has a market cap of $4.92 billion, a PE ratio of 9.56, a price-to-earnings-growth ratio of 0.88 and a beta of 0.72. The company has a quick ratio of 0.58, a current ratio of 0.60 and a debt-to-equity ratio of 0.14.

Radian Group (NYSE:RDN) last issued its quarterly earnings data on Thursday, August 6th. The insurance provider reported $1.14 EPS for the quarter, missing the consensus estimate of $1.34 by ($0.20). The firm had revenue of $574.96 million for the quarter, compared to the consensus estimate of $556.55 million. Radian Group had a net margin of 32.60% and a return on equity of 13.65%. The business’s revenue was up 92.3% on a year-over-year basis. During the same period last year, the company posted $1.01 earnings per share. As a group, equities analysts expect that Radian Group Inc. will post 4.93 EPS for the current year.

Radian Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 9th. Investors of record on Monday, August 24th will be issued a dividend of $0.255 per share. This represents a $1.02 dividend on an annualized basis and a yield of 2.7%. The ex-dividend date is Monday, August 24th. Radian Group’s payout ratio is currently 26.22%.

About Radian Group

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.