Bank of New York Mellon Corp Has $47.84 Million Stock Position in Radian Group Inc. (NYSE:RDN)

Bank of New York Mellon Corp cut its stake in shares of Radian Group Inc. (NYSE:RDN - Free Report) by 15.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,508,101 shares of the insurance provider's stock after selling 267,432 shares during the quarter. Bank of New York Mellon Corp owned 1.01% of Radian Group worth $47,837,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of RDN. First Trust Direct Indexing L.P. boosted its position in shares of Radian Group by 9.9% in the third quarter. First Trust Direct Indexing L.P. now owns 7,200 shares of the insurance provider's stock worth $250,000 after buying an additional 650 shares during the period. Farther Finance Advisors LLC boosted its position in Radian Group by 1,767.2% during the third quarter. Farther Finance Advisors LLC now owns 12,977 shares of the insurance provider's stock valued at $450,000 after purchasing an additional 12,282 shares during the last quarter. Harbor Capital Advisors Inc. boosted its position in Radian Group by 1.3% during the third quarter. Harbor Capital Advisors Inc. now owns 45,701 shares of the insurance provider's stock valued at $1,585,000 after purchasing an additional 589 shares during the last quarter. Van ECK Associates Corp boosted its position in Radian Group by 40.0% during the third quarter. Van ECK Associates Corp now owns 87,071 shares of the insurance provider's stock valued at $2,986,000 after purchasing an additional 24,880 shares during the last quarter. Finally, Forum Financial Management LP acquired a new stake in Radian Group during the third quarter valued at $201,000. Institutional investors and hedge funds own 95.33% of the company's stock.

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Radian Group Stock Up 1.5 %

NYSE RDN traded up $0.49 during trading on Friday, hitting $32.13. 864,763 shares of the company traded hands, compared to its average volume of 1,312,597. Radian Group Inc. has a 12 month low of $29.17 and a 12 month high of $37.86. The business has a fifty day simple moving average of $32.67 and a 200 day simple moving average of $33.82. The company has a current ratio of 2.87, a quick ratio of 2.01 and a debt-to-equity ratio of 0.50. The company has a market capitalization of $4.66 billion, a P/E ratio of 8.17, a PEG ratio of 1.73 and a beta of 1.04.

Radian Group (NYSE:RDN - Get Free Report) last posted its quarterly earnings data on Wednesday, February 5th. The insurance provider reported $1.09 EPS for the quarter, topping analysts' consensus estimates of $0.92 by $0.17. Radian Group had a return on equity of 13.96% and a net margin of 46.85%. As a group, sell-side analysts predict that Radian Group Inc. will post 3.79 EPS for the current year.

Radian Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 11th. Stockholders of record on Monday, February 24th will be paid a $0.255 dividend. The ex-dividend date is Monday, February 24th. This is a positive change from Radian Group's previous quarterly dividend of $0.25. This represents a $1.02 dividend on an annualized basis and a dividend yield of 3.17%. Radian Group's payout ratio is presently 25.95%.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on RDN. Keefe, Bruyette & Woods reduced their price objective on Radian Group from $41.00 to $40.00 and set an "outperform" rating for the company in a research report on Wednesday, January 8th. UBS Group lifted their price objective on Radian Group from $33.00 to $34.00 and gave the company a "neutral" rating in a research report on Wednesday, February 19th. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, Radian Group currently has a consensus rating of "Hold" and an average price target of $36.80.

Insider Transactions at Radian Group

In other news, Director Gregory Serio sold 4,100 shares of Radian Group stock in a transaction dated Friday, February 28th. The stock was sold at an average price of $32.65, for a total value of $133,865.00. Following the transaction, the director now directly owns 344 shares in the company, valued at approximately $11,231.60. The trade was a 92.26 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 2.16% of the stock is currently owned by corporate insiders.

Radian Group 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.