Edgestream Partners L.P. Takes $2.62 Million Position in Radian Group Inc. (NYSE:RDN)

Edgestream Partners L.P. acquired a new stake in Radian Group Inc. (NYSE:RDN) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 84,099 shares of the insurance provider’s stock, valued at approximately $2,615,000. Edgestream Partners L.P. owned 0.06% of Radian Group at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of RDN. Fifth Third Bancorp increased its stake in Radian Group by 859.3% during the second quarter. Fifth Third Bancorp now owns 1,295 shares of the insurance provider’s stock worth $40,000 after purchasing an additional 1,160 shares during the period. Johnson Financial Group Inc. acquired a new position in shares of Radian Group in the fourth quarter valued at approximately $46,000. Hexagon Capital Partners LLC grew its holdings in shares of Radian Group by 75.3% in the first quarter. Hexagon Capital Partners LLC now owns 1,650 shares of the insurance provider’s stock valued at $55,000 after purchasing an additional 709 shares in the last quarter. CWM LLC increased its stake in Radian Group by 539.9% during the 2nd quarter. CWM LLC now owns 1,990 shares of the insurance provider’s stock worth $62,000 after buying an additional 1,679 shares during the period. Finally, AXS Investments LLC acquired a new stake in Radian Group during the 4th quarter worth approximately $66,000. Institutional investors and hedge funds own 95.33% of the company’s stock.

Insider Activity at Radian Group

In related news, COO Mary Dickerson sold 19,511 shares of the business’s stock in a transaction on Wednesday, August 28th. The shares were sold at an average price of $35.93, for a total value of $701,030.23. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Radian Group news, insider Derek Brummer sold 35,153 shares of Radian Group stock in a transaction that occurred on Thursday, September 5th. The stock was sold at an average price of $35.36, for a total transaction of $1,243,010.08. Following the transaction, the insider now owns 186,535 shares of the company’s stock, valued at $6,595,877.60. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, COO Mary Dickerson sold 19,511 shares of the business’s stock in a transaction that occurred on Wednesday, August 28th. The shares were sold at an average price of $35.93, for a total value of $701,030.23. The disclosure for this sale can be found here. Insiders have sold 119,772 shares of company stock valued at $4,260,796 in the last ninety days. Insiders own 2.16% of the company’s stock.

Wall Street Analysts Forecast Growth

RDN has been the subject of several research reports. UBS Group boosted their price target on shares of Radian Group from $30.00 to $31.50 and gave the stock a “neutral” rating in a research note on Wednesday, May 22nd. Keefe, Bruyette & Woods upped their price target on Radian Group from $36.00 to $39.00 and gave the stock an “outperform” rating in a report on Monday, August 5th. Roth Mkm increased their price target on Radian Group from $35.00 to $40.00 and gave the company a “buy” rating in a research report on Friday, August 2nd. Royal Bank of Canada boosted their price objective on Radian Group from $32.00 to $37.00 and gave the stock a “sector perform” rating in a research report on Friday, August 2nd. Finally, Barclays raised their target price on shares of Radian Group from $30.00 to $32.00 and gave the company an “equal weight” rating in a report on Friday, August 2nd. Four analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $35.90.

Radian Group Stock Up 0.8 %

Shares of NYSE RDN opened at $35.42 on Thursday. The business has a 50-day moving average of $35.04 and a two-hundred day moving average of $32.46. The company has a market capitalization of $5.33 billion, a price-to-earnings ratio of 9.37, a price-to-earnings-growth ratio of 1.80 and a beta of 1.05. Radian Group Inc. has a 1 year low of $24.56 and a 1 year high of $37.86. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.84 and a quick ratio of 1.84.

Radian Group (NYSE:RDN) last posted its earnings results on Wednesday, July 31st. The insurance provider reported $0.99 earnings per share for the quarter, topping the consensus estimate of $0.87 by $0.12. The firm had revenue of $312.37 million during the quarter, compared to analysts’ expectations of $324.00 million. Radian Group had a return on equity of 14.43% and a net margin of 47.05%. On average, analysts forecast that Radian Group Inc. will post 3.75 earnings per share for the current fiscal year.

Radian Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 11th. Stockholders of record on Monday, August 26th were issued a $0.245 dividend. This represents a $0.98 annualized dividend and a dividend yield of 2.77%. The ex-dividend date of this dividend was Monday, August 26th. Radian Group’s payout ratio is 25.93%.

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.