Quest Partners LLC Invests $1.16 Million in Radian Group Inc. (NYSE:RDN)

Quest Partners LLC purchased a new stake in shares of Radian Group Inc. (NYSE:RDN - Free Report) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 33,474 shares of the insurance provider's stock, valued at approximately $1,161,000.

A number of other institutional investors and hedge funds have also modified their holdings of the business. State Board of Administration of Florida Retirement System increased its position in Radian Group by 27.3% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 59,482 shares of the insurance provider's stock worth $1,991,000 after purchasing an additional 12,760 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp increased its position in Radian Group by 17.7% in the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 46,407 shares of the insurance provider's stock worth $1,524,000 after purchasing an additional 6,967 shares during the last quarter. Vanguard Group Inc. increased its position in Radian Group by 0.3% in the 1st quarter. Vanguard Group Inc. now owns 20,439,073 shares of the insurance provider's stock worth $684,096,000 after purchasing an additional 69,383 shares during the last quarter. Acadian Asset Management LLC acquired a new position in Radian Group in the 1st quarter worth about $1,442,000. Finally, UniSuper Management Pty Ltd acquired a new position in Radian Group in the 1st quarter worth about $877,000. Hedge funds and other institutional investors own 95.33% of the company's stock.

Wall Street Analysts Forecast Growth

RDN has been the topic of several research reports. Roth Mkm upped their target price on Radian Group from $35.00 to $40.00 and gave the stock a "buy" rating in a research report on Friday, August 2nd. Keefe, Bruyette & Woods upped their price target on Radian Group from $36.00 to $39.00 and gave the stock an "outperform" rating in a research note on Monday, August 5th. Royal Bank of Canada upped their price target on Radian Group from $32.00 to $37.00 and gave the stock a "sector perform" rating in a research note on Friday, August 2nd. Finally, Barclays upped their price target on 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 equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, Radian Group presently has an average rating of "Hold" and a consensus price target of $36.10.

Insiders Place Their Bets

In other news, CAO Robert Quigley sold 7,500 shares of the stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $35.65, for a total value of $267,375.00. Following the completion of the transaction, the chief accounting officer now directly owns 48,392 shares of the company's stock, valued at approximately $1,725,174.80. This represents a 13.42 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Derek Brummer sold 35,153 shares of the stock in a transaction that occurred on Thursday, September 5th. The stock was sold at an average price of $35.36, for a total value of $1,243,010.08. Following the completion of the transaction, the insider now directly owns 186,535 shares of the company's stock, valued at approximately $6,595,877.60. The trade was a 15.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 115,955 shares of company stock worth $4,130,140. 2.16% of the stock is currently owned by company insiders.

Radian Group Price Performance

Shares of NYSE:RDN opened at $33.60 on Thursday. The business has a 50 day moving average price of $34.44 and a 200 day moving average price of $33.50. Radian Group Inc. has a twelve month low of $24.92 and a twelve month high of $37.86. The company has a market cap of $5.00 billion, a price-to-earnings ratio of 8.70, a PEG ratio of 1.73 and a beta of 1.04. 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 (NYSE:RDN - Get Free Report) last announced its earnings results on Wednesday, November 6th. The insurance provider reported $1.03 earnings per share for the quarter, beating the consensus estimate of $0.88 by $0.15. Radian Group had a return on equity of 13.81% and a net margin of 45.96%. The firm had revenue of $319.05 million during the quarter, compared to the consensus estimate of $320.30 million. Research analysts predict that Radian Group Inc. will post 4 earnings per share for the current year.

Radian Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Monday, November 25th will be given a $0.245 dividend. The ex-dividend date of this dividend is Monday, November 25th. This represents a $0.98 dividend on an annualized basis and a dividend yield of 2.92%. Radian Group's dividend payout ratio is currently 25.39%.

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.