Public Sector Pension Investment Board Reduces Holdings in Radian Group Inc. (NYSE:RDN)

Public Sector Pension Investment Board trimmed its stake in Radian Group Inc. (NYSE:RDN) by 3.7% during the third quarter, HoldingsChannel reports. The institutional investor owned 319,141 shares of the insurance provider’s stock after selling 12,200 shares during the period. Public Sector Pension Investment Board’s holdings in Radian Group were worth $11,071,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of RDN. V Square Quantitative Management LLC purchased a new position in shares of Radian Group in the 3rd quarter valued at $27,000. Fifth Third Bancorp boosted its stake in Radian Group by 859.3% during the 2nd quarter. Fifth Third Bancorp now owns 1,295 shares of the insurance provider’s stock worth $40,000 after purchasing an additional 1,160 shares during the period. CWM LLC boosted its stake in Radian Group by 539.9% during the 2nd quarter. CWM LLC now owns 1,990 shares of the insurance provider’s stock worth $62,000 after purchasing an additional 1,679 shares during the period. Hexagon Capital Partners LLC boosted its stake in Radian Group by 37.0% during the 2nd quarter. Hexagon Capital Partners LLC now owns 2,261 shares of the insurance provider’s stock worth $70,000 after purchasing an additional 611 shares during the period. Finally, Blue Trust Inc. boosted its stake in Radian Group by 352.4% during the 3rd quarter. Blue Trust Inc. now owns 2,502 shares of the insurance provider’s stock worth $87,000 after purchasing an additional 1,949 shares during the period. 95.33% of the stock is owned by hedge funds and other institutional investors.

Radian Group Stock Up 1.0 %

Shares of NYSE RDN opened at $35.54 on Friday. The company has a quick ratio of 2.01, a current ratio of 2.01 and a debt-to-equity ratio of 0.42. Radian Group Inc. has a 52 week low of $24.92 and a 52 week high of $37.86. The firm has a 50-day moving average price of $34.44 and a 200 day moving average price of $33.62. The stock has a market capitalization of $5.29 billion, a price-to-earnings ratio of 9.21, a price-to-earnings-growth ratio of 1.78 and a beta of 1.04.

Radian Group (NYSE:RDN) last announced its quarterly earnings data on Wednesday, November 6th. The insurance provider reported $1.03 EPS for the quarter, beating the consensus estimate of $0.88 by $0.15. Radian Group had a net margin of 45.96% and a return on equity of 13.81%. The firm had revenue of $319.05 million during the quarter, compared to analysts’ expectations of $320.30 million. Equities research analysts anticipate that Radian Group Inc. will post 4 EPS for the current fiscal year.

Radian Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Monday, November 25th will be issued a dividend of $0.245 per share. The ex-dividend date is Monday, November 25th. This represents a $0.98 annualized dividend and a yield of 2.76%. Radian Group’s dividend payout ratio (DPR) is currently 25.39%.

Insider Buying and Selling at Radian Group

In other Radian Group news, insider Derek Brummer sold 35,153 shares of the firm’s stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of $35.36, for a total transaction of $1,243,010.08. Following the completion of the transaction, the insider now directly owns 186,535 shares in the company, valued at approximately $6,595,877.60. This trade represents a 15.86 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 2.16% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of brokerages recently weighed in on RDN. Royal Bank of Canada increased their price target on shares of Radian Group from $32.00 to $37.00 and gave the stock a “sector perform” rating in a research note on Friday, August 2nd. Roth Mkm raised their target price on shares of Radian Group from $35.00 to $40.00 and gave the stock a “buy” rating in a research note on Friday, August 2nd. Keefe, Bruyette & Woods raised their target price on shares of Radian Group from $36.00 to $39.00 and gave the stock an “outperform” rating in a research note on Monday, August 5th. Finally, Barclays raised their target price on shares of Radian Group from $32.00 to $33.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 8th. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $36.10.

Radian Group Company 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.