State Street Corp Acquires 177,142 Shares of Radian Group Inc. (NYSE:RDN)

State Street Corp boosted its holdings in shares of Radian Group Inc. (NYSE:RDN - Free Report) by 2.7% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 6,700,279 shares of the insurance provider's stock after buying an additional 177,142 shares during the period. State Street Corp owned approximately 4.50% of Radian Group worth $232,433,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Quadrature Capital Ltd bought a new stake in shares of Radian Group during the 3rd quarter valued at about $237,000. Quantinno Capital Management LP increased its position in shares of Radian Group by 8.0% in the third quarter. Quantinno Capital Management LP now owns 7,861 shares of the insurance provider's stock worth $273,000 after purchasing an additional 579 shares during the last quarter. Centiva Capital LP purchased a new stake in Radian Group in the third quarter valued at approximately $512,000. Erste Asset Management GmbH bought a new stake in Radian Group during the third quarter valued at approximately $369,000. Finally, Edgestream Partners L.P. grew its stake in Radian Group by 120.8% in the 3rd quarter. Edgestream Partners L.P. now owns 185,653 shares of the insurance provider's stock worth $6,440,000 after buying an additional 101,554 shares in the last quarter. 95.33% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, insider Derek Brummer sold 14,705 shares of the stock in a transaction that occurred on Thursday, December 5th. The stock was sold at an average price of $34.65, for a total transaction of $509,528.25. Following the completion of the sale, the insider now owns 171,830 shares of the company's stock, valued at approximately $5,953,909.50. This represents a 7.88 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 2.16% of the company's stock.

Radian Group Price Performance

NYSE:RDN traded down $0.23 during mid-day trading on Thursday, reaching $33.62. The stock had a trading volume of 534,863 shares, compared to its average volume of 1,039,597. Radian Group Inc. has a one year low of $26.11 and a one year high of $37.86. The company has a debt-to-equity ratio of 0.42, a quick ratio of 2.01 and a current ratio of 2.01. The firm has a 50 day moving average price of $34.42 and a two-hundred day moving average price of $33.87. The stock has a market capitalization of $5.01 billion, a P/E ratio of 8.71, a P/E/G ratio of 1.73 and a beta of 1.04.

Radian Group (NYSE:RDN - Get Free Report) last announced its quarterly earnings data on Wednesday, November 6th. The insurance provider reported $1.03 earnings per share for the quarter, topping analysts' consensus estimates of $0.88 by $0.15. Radian Group had a net margin of 45.96% and a return on equity of 13.81%. The firm had revenue of $319.05 million during the quarter, compared to analyst estimates of $320.30 million. As a group, analysts expect that Radian Group Inc. will post 4 earnings per share for the current year.

Radian Group Announces Dividend

The firm 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 was Monday, November 25th. This represents a $0.98 annualized dividend and a yield of 2.91%. Radian Group's payout ratio is 25.39%.

Wall Street Analyst Weigh In

Separately, Barclays raised their price objective on shares of Radian Group from $32.00 to $33.00 and gave the company an "equal weight" rating in a research 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 has an average rating of "Hold" and an average target price of $36.10.

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.