Geode Capital Management LLC decreased its holdings in Radian Group Inc. (NYSE:RDN - Free Report) by 1.6% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,541,481 shares of the insurance provider's stock after selling 58,126 shares during the period. Geode Capital Management LLC owned about 2.38% of Radian Group worth $122,877,000 as of its most recent SEC filing.
Other large investors also recently made changes to their positions in the company. Centiva Capital LP acquired a new position in shares of Radian Group in the 3rd quarter valued at about $512,000. Public Sector Pension Investment Board increased its holdings in Radian Group by 5.5% in the second quarter. Public Sector Pension Investment Board now owns 331,341 shares of the insurance provider's stock worth $10,305,000 after buying an additional 17,367 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in Radian Group by 2.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 5,845,740 shares of the insurance provider's stock worth $202,789,000 after buying an additional 121,166 shares during the last quarter. Moran Wealth Management LLC acquired a new position in Radian Group in the third quarter worth approximately $2,650,000. Finally, Vest Financial LLC increased its holdings in Radian Group by 27.4% in the second quarter. Vest Financial LLC now owns 746,664 shares of the insurance provider's stock worth $23,221,000 after buying an additional 160,778 shares during the last quarter. Institutional investors and hedge funds own 95.33% of the company's stock.
Wall Street Analyst Weigh In
Separately, Barclays increased their price objective on Radian Group from $32.00 to $33.00 and gave the stock an "equal weight" rating in a report on Tuesday, October 8th. Three analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $36.10.
Check Out Our Latest Research Report on Radian Group
Insider Activity
In related news, insider Derek Brummer sold 14,705 shares of the firm's stock in a transaction on Thursday, December 5th. The stock was sold at an average price of $34.65, for a total value of $509,528.25. Following the completion of the transaction, the insider now directly owns 171,830 shares of the company's stock, valued at $5,953,909.50. This trade represents a 7.88 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 2.16% of the stock is owned by company insiders.
Radian Group Stock Performance
RDN stock traded down $1.34 during midday trading on Wednesday, hitting $31.73. 1,440,503 shares of the company traded hands, compared to its average volume of 1,040,303. Radian Group Inc. has a twelve month low of $26.11 and a twelve month high of $37.86. The company has a quick ratio of 2.01, a current ratio of 2.01 and a debt-to-equity ratio of 0.42. The business has a 50 day simple moving average of $34.36 and a 200-day simple moving average of $33.96. The stock has a market capitalization of $4.73 billion, a price-to-earnings ratio of 8.22, a price-to-earnings-growth ratio of 1.69 and a beta of 1.04.
Radian Group (NYSE:RDN - Get Free Report) last announced its quarterly earnings results 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 return on equity of 13.81% and a net margin of 45.96%. The company had revenue of $319.05 million for the quarter, compared to the consensus estimate of $320.30 million. As a group, equities research analysts predict that Radian Group Inc. will post 4 earnings per share for the current year.
Radian Group Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders of record on Monday, November 25th were given a $0.245 dividend. The ex-dividend date of this dividend was Monday, November 25th. This represents a $0.98 annualized dividend and a dividend yield of 3.09%. Radian Group's dividend payout ratio is 25.39%.
Radian Group Profile
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Free Report)
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.
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