Intech Investment Management LLC Invests $1.08 Million in Radian Group Inc. (NYSE:RDN)

Intech Investment Management LLC purchased a new position in Radian Group Inc. (NYSE:RDN - Free Report) in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 30,983 shares of the insurance provider's stock, valued at approximately $1,075,000.

A number of other hedge funds have also modified their holdings of the company. Arizona State Retirement System boosted its position in shares of Radian Group by 0.8% in the second quarter. Arizona State Retirement System now owns 42,413 shares of the insurance provider's stock worth $1,319,000 after purchasing an additional 321 shares during the period. Xponance Inc. boosted its position in shares of Radian Group by 2.5% in the second quarter. Xponance Inc. now owns 13,121 shares of the insurance provider's stock worth $408,000 after purchasing an additional 321 shares during the period. QRG Capital Management Inc. boosted its position in shares of Radian Group by 1.1% in the third quarter. QRG Capital Management Inc. now owns 31,392 shares of the insurance provider's stock worth $1,089,000 after purchasing an additional 339 shares during the period. Tidal Investments LLC boosted its position in shares of Radian Group by 5.2% in the first quarter. Tidal Investments LLC now owns 9,516 shares of the insurance provider's stock worth $319,000 after purchasing an additional 474 shares during the period. Finally, Harbor Capital Advisors Inc. boosted its position in shares of Radian Group by 1.3% in the third quarter. Harbor Capital Advisors Inc. now owns 45,701 shares of the insurance provider's stock worth $1,585,000 after purchasing an additional 589 shares during the period. 95.33% of the stock is currently owned by institutional investors.

Insider Activity

In other news, insider Derek Brummer sold 35,153 shares of the stock in a transaction on Thursday, September 5th. The shares were sold at an average price of $35.36, for a total value of $1,243,010.08. Following the sale, the insider now owns 186,535 shares of the company's stock, valued at approximately $6,595,877.60. This represents a 15.86 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 2.16% of the company's stock.

Analyst Ratings Changes

RDN has been the subject of a number of research reports. Barclays upped 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 report on Tuesday, October 8th. Keefe, Bruyette & Woods upped their target price on shares of Radian Group from $36.00 to $39.00 and gave the stock an "outperform" rating in a research report on Monday, August 5th. Royal Bank of Canada upped their target price on shares of Radian Group from $32.00 to $37.00 and gave the stock a "sector perform" rating in a research report on Friday, August 2nd. Finally, Roth Mkm upped their target price on shares of Radian Group from $35.00 to $40.00 and gave the stock a "buy" rating in a research report on Friday, August 2nd. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $36.10.

Radian Group Price Performance

Radian Group stock traded up $0.35 during mid-day trading on Thursday, reaching $35.54. 876,167 shares of the company's stock traded hands, compared to its average volume of 1,044,625. The company has a market cap of $5.29 billion, a price-to-earnings ratio of 9.20, a PEG ratio of 1.78 and a beta of 1.04. The stock has a 50 day moving average of $34.44 and a two-hundred day moving average of $33.62. 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 12-month low of $24.92 and a 12-month high of $37.86.

Radian Group (NYSE:RDN - Get Free Report) last released its quarterly earnings results on Wednesday, November 6th. The insurance provider reported $1.03 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.88 by $0.15. The company had revenue of $319.05 million for the quarter, compared to the consensus estimate of $320.30 million. Radian Group had a net margin of 45.96% and a return on equity of 13.81%. Equities analysts forecast that Radian Group Inc. will post 4 earnings per share for the current year.

Radian Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Monday, November 25th will be paid a $0.245 dividend. This represents a $0.98 annualized dividend and a dividend yield of 2.76%. The ex-dividend date is Monday, November 25th. 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.