Boston Partners reduced its stake in Radian Group Inc (NYSE:RDN) by 41.1% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,872,845 shares of the insurance provider’s stock after selling 1,309,500 shares during the period. Boston Partners owned approximately 0.87% of Radian Group worth $30,377,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds also recently modified their holdings of the company. Sei Investments Co. raised its holdings in shares of Radian Group by 0.7% in the 2nd quarter. Sei Investments Co. now owns 477,155 shares of the insurance provider’s stock worth $7,740,000 after acquiring an additional 3,235 shares during the last quarter. Virginia Retirement Systems ET AL increased its stake in shares of Radian Group by 11.5% during the 2nd quarter. Virginia Retirement Systems ET AL now owns 56,400 shares of the insurance provider’s stock worth $915,000 after purchasing an additional 5,800 shares during the last quarter. Heartland Advisors Inc. increased its stake in shares of Radian Group by 1.3% during the 2nd quarter. Heartland Advisors Inc. now owns 925,550 shares of the insurance provider’s stock worth $15,012,000 after purchasing an additional 11,750 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. bought a new position in Radian Group in the 2nd quarter worth approximately $1,951,000. Finally, New York State Teachers Retirement System bought a new position in Radian Group in the 2nd quarter worth approximately $311,000. Institutional investors and hedge funds own 90.96% of the company’s stock.
Radian Group stock opened at $19.79 on Wednesday. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.48 and a current ratio of 1.48. The firm has a market cap of $4.22 billion, a PE ratio of 10.86, a P/E/G ratio of 1.59 and a beta of 1.47. Radian Group Inc has a fifty-two week low of $14.06 and a fifty-two week high of $23.49.
RDN has been the subject of several analyst reports. ValuEngine downgraded shares of Radian Group from a “hold” rating to a “sell” rating in a report on Monday, June 4th. Compass Point cut their price target on shares of Radian Group from $24.25 to $23.25 and set a “buy” rating for the company in a report on Friday, April 27th. Wells Fargo & Co cut their price target on shares of Radian Group from $23.00 to $17.00 and set a “market perform” rating for the company in a report on Thursday, April 19th. Bank of America raised their price target on shares of Radian Group from $13.00 to $23.00 and gave the company a “buy” rating in a report on Monday. Finally, Zacks Investment Research downgraded shares of Radian Group from a “hold” rating to a “sell” rating in a report on Wednesday, June 27th. Five equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $23.11.
In other news, EVP Edward J. Hoffman sold 14,985 shares of the firm’s stock in a transaction on Friday, May 18th. The shares were sold at an average price of $16.38, for a total transaction of $245,454.30. Following the sale, the executive vice president now owns 62,789 shares in the company, valued at approximately $1,028,483.82. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 0.99% of the company’s stock.
Radian Group Profile
Radian Group Inc, through its subsidiaries, provides mortgage and real estate products and services in the United States. It operates through two segments, Mortgage Insurance and Services. The Mortgage Insurance segment offers credit-related insurance coverage, primarily through private mortgage insurance, as well as other credit risk management solutions to mortgage lending institutions; and primary mortgage insurance coverage on residential first-lien mortgage loans.
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