Point72 Asset Management L.P. Acquires 372,238 Shares of Radian Group Inc (NYSE:RDN)

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Point72 Asset Management L.P. grew its holdings in Radian Group Inc (NYSE:RDN) by 26.3% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,787,873 shares of the insurance provider’s stock after acquiring an additional 372,238 shares during the period. Point72 Asset Management L.P. owned 0.88% of Radian Group worth $40,853,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Envestnet Asset Management Inc. increased its holdings in Radian Group by 6.1% during the second quarter. Envestnet Asset Management Inc. now owns 16,184 shares of the insurance provider’s stock worth $370,000 after buying an additional 930 shares during the last quarter. GAM Holding AG raised its stake in Radian Group by 3.9% in the first quarter. GAM Holding AG now owns 31,756 shares of the insurance provider’s stock valued at $659,000 after purchasing an additional 1,194 shares in the last quarter. Rhumbline Advisers raised its stake in Radian Group by 0.6% in the first quarter. Rhumbline Advisers now owns 340,488 shares of the insurance provider’s stock valued at $7,062,000 after purchasing an additional 1,990 shares in the last quarter. NN Investment Partners Holdings N.V. raised its stake in Radian Group by 39.1% in the second quarter. NN Investment Partners Holdings N.V. now owns 8,538 shares of the insurance provider’s stock valued at $196,000 after purchasing an additional 2,400 shares in the last quarter. Finally, Great West Life Assurance Co. Can raised its stake in Radian Group by 13.1% in the first quarter. Great West Life Assurance Co. Can now owns 29,944 shares of the insurance provider’s stock valued at $619,000 after purchasing an additional 3,460 shares in the last quarter. 93.80% of the stock is owned by institutional investors.

NYSE RDN traded up $0.17 during trading hours on Friday, hitting $23.95. The company had a trading volume of 1,372,186 shares, compared to its average volume of 1,070,924. Radian Group Inc has a 52 week low of $14.77 and a 52 week high of $24.62. The firm has a 50 day simple moving average of $22.73 and a 200 day simple moving average of $22.58. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.71 and a current ratio of 1.71. The firm has a market capitalization of $4.87 billion, a price-to-earnings ratio of 8.90, a PEG ratio of 1.58 and a beta of 1.39.

Radian Group (NYSE:RDN) last issued its quarterly earnings data on Wednesday, July 31st. The insurance provider reported $0.80 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.70 by $0.10. Radian Group had a return on equity of 17.68% and a net margin of 43.66%. The company had revenue of $394.96 million during the quarter, compared to analyst estimates of $352.77 million. During the same quarter in the previous year, the firm earned $0.69 earnings per share. Radian Group’s revenue was up 23.7% on a year-over-year basis. On average, research analysts forecast that Radian Group Inc will post 2.95 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 6th. Stockholders of record on Monday, August 26th were issued a dividend of $0.002 per share. This represents a $0.01 annualized dividend and a dividend yield of 0.03%. The ex-dividend date of this dividend was Friday, August 23rd. Radian Group’s payout ratio is 0.37%.

Several research analysts have commented on RDN shares. B. Riley set a $27.00 target price on Radian Group and gave the stock a “hold” rating in a research note on Friday, August 2nd. Barclays reissued a “buy” rating and set a $27.00 target price on shares of Radian Group in a research note on Monday, June 24th. Finally, BTIG Research reissued a “buy” rating and set a $29.00 target price on shares of Radian Group in a research note on Thursday, August 1st. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and five have given a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $27.14.

Radian Group Company Profile

Radian Group Inc, through its subsidiaries, engages in the mortgage and real estate services business in the United States. It operates in two segments, Mortgage Insurance and Services. The Mortgage Insurance segment offers credit-related insurance coverage, primarily through private mortgage insurance on residential first-lien mortgage loans, as well as other credit risk management solutions to mortgage lending institutions and mortgage credit investors.

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Institutional Ownership by Quarter for Radian Group (NYSE:RDN)

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