JPMorgan Chase & Co. Sells 388,958 Shares of Radian Group Inc. (NYSE:RDN)

JPMorgan Chase & Co. trimmed its holdings in shares of Radian Group Inc. (NYSE:RDN - Free Report) by 4.8% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 7,788,532 shares of the insurance provider's stock after selling 388,958 shares during the quarter. JPMorgan Chase & Co. owned about 5.23% of Radian Group worth $270,184,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in RDN. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Radian Group by 3.0% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 31,470 shares of the insurance provider's stock worth $979,000 after buying an additional 913 shares during the last quarter. Van ECK Associates Corp raised its position in Radian Group by 11.1% during the second quarter. Van ECK Associates Corp now owns 62,191 shares of the insurance provider's stock valued at $1,934,000 after purchasing an additional 6,219 shares in the last quarter. nVerses Capital LLC purchased a new stake in Radian Group during the second quarter valued at about $180,000. Ritholtz Wealth Management lifted its stake in Radian Group by 11.0% during the second quarter. Ritholtz Wealth Management now owns 28,896 shares of the insurance provider's stock worth $899,000 after purchasing an additional 2,868 shares during the last quarter. Finally, Arizona State Retirement System increased its position in shares of Radian Group by 0.8% during the 2nd quarter. Arizona State Retirement System now owns 42,413 shares of the insurance provider's stock valued at $1,319,000 after purchasing an additional 321 shares during the last quarter. 95.33% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, insider Derek Brummer sold 14,705 shares of Radian Group stock in a transaction that occurred on Thursday, December 5th. The shares were sold at an average price of $34.65, for a total transaction of $509,528.25. Following the completion of the transaction, the insider now directly owns 171,830 shares in the company, valued at approximately $5,953,909.50. This trade represents a 7.88 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 2.16% of the company's stock.

Wall Street Analysts Forecast Growth

Separately, Barclays boosted their target price on Radian Group from $32.00 to $33.00 and gave the stock an "equal weight" rating in a research report on Tuesday, October 8th. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $36.10.

Radian Group Trading Down 0.0 %

Shares of NYSE:RDN traded down $0.01 on Tuesday, reaching $31.72. 541,981 shares of the company traded hands, compared to its average volume of 1,046,104. Radian Group Inc. has a 52 week low of $26.11 and a 52 week high of $37.86. The company has a current ratio of 2.01, a quick ratio of 2.01 and a debt-to-equity ratio of 0.42. The business's 50-day simple moving average is $33.77 and its 200 day simple moving average is $34.04. The stock has a market capitalization of $4.72 billion, a P/E 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 posted its quarterly earnings results on Wednesday, November 6th. The insurance provider reported $1.03 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.88 by $0.15. The business had revenue of $319.05 million for the quarter, compared to analyst estimates of $320.30 million. Radian Group had a return on equity of 13.81% and a net margin of 45.96%. As a group, equities analysts anticipate that Radian Group Inc. will post 4 EPS for the current fiscal year.

Radian Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders of record on Monday, November 25th were given a dividend of $0.245 per share. The ex-dividend date of this dividend was Monday, November 25th. This represents a $0.98 annualized dividend and a yield of 3.09%. Radian Group's 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.