Zacks Investment Management trimmed its holdings in Radian Group Inc (NYSE:RDN) by 18.4% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 151,046 shares of the insurance provider’s stock after selling 34,147 shares during the quarter. Zacks Investment Management owned about 0.07% of Radian Group worth $3,451,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also made changes to their positions in RDN. Bessemer Group Inc. acquired a new position in Radian Group in the second quarter valued at approximately $87,000. NN Investment Partners Holdings N.V. boosted its holdings in Radian Group by 39.1% in the second quarter. NN Investment Partners Holdings N.V. now owns 8,538 shares of the insurance provider’s stock valued at $196,000 after purchasing an additional 2,400 shares in the last quarter. Creative Planning acquired a new position in Radian Group in the second quarter valued at approximately $224,000. BB&T Securities LLC acquired a new position in Radian Group in the second quarter valued at approximately $225,000. Finally, Nkcfo LLC acquired a new position in Radian Group in the second quarter valued at approximately $291,000. 93.88% of the stock is owned by hedge funds and other institutional investors.
RDN has been the subject of a number of research analyst reports. BTIG Research reaffirmed a “buy” rating and issued a $29.00 price target on shares of Radian Group in a report on Thursday, August 1st. B. Riley set a $27.00 price target on Radian Group and gave the company a “hold” rating in a report on Friday, August 2nd. Finally, Barclays reissued a “buy” rating and issued a $27.00 price objective on shares of Radian Group in a report on Monday, June 24th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and five have issued a buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $27.14.
Radian Group (NYSE:RDN) last released its quarterly earnings data on Wednesday, July 31st. The insurance provider reported $0.80 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.70 by $0.10. The firm had revenue of $394.96 million during the quarter, compared to analysts’ expectations of $352.77 million. Radian Group had a return on equity of 17.68% and a net margin of 43.66%. Radian Group’s revenue was up 23.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.69 earnings per share. Analysts anticipate that Radian Group Inc will post 2.95 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Friday, September 6th. Stockholders of record on Monday, August 26th were given a $0.002 dividend. This represents a $0.01 dividend on an annualized basis and a dividend yield of 0.03%. The ex-dividend date of this dividend was Friday, August 23rd. Radian Group’s dividend payout ratio is currently 0.37%.
Radian Group Company Profile
Radian Group Inc, through its subsidiaries, engages in the mortgage and real estate services business in the United States. It operates in two segments, Mortgage Insurance and Services. The Mortgage Insurance segment offers credit-related insurance coverage, primarily through private mortgage insurance on residential first-lien mortgage loans, as well as other credit risk management solutions to mortgage lending institutions and mortgage credit investors.
Featured Story: What is the Ex-Dividend Date in Investing?
Want to see what other hedge funds are holding RDN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Radian Group Inc (NYSE:RDN).
Receive News & Ratings for Radian Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Radian Group and related companies with MarketBeat.com's FREE daily email newsletter.