Seven Eight Capital LP Takes Position in Radian Group Inc. (NYSE:RDN)

Seven Eight Capital LP acquired a new position in Radian Group Inc. (NYSE:RDN) in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 11,048 shares of the insurance provider’s stock, valued at approximately $344,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Fifth Third Bancorp boosted its stake in shares of Radian Group by 859.3% during the second quarter. Fifth Third Bancorp now owns 1,295 shares of the insurance provider’s stock valued at $40,000 after purchasing an additional 1,160 shares in the last quarter. Johnson Financial Group Inc. bought a new stake in Radian Group during the 4th quarter valued at $46,000. Hexagon Capital Partners LLC raised its position in shares of Radian Group by 75.3% in the 1st quarter. Hexagon Capital Partners LLC now owns 1,650 shares of the insurance provider’s stock worth $55,000 after acquiring an additional 709 shares in the last quarter. CWM LLC lifted its stake in shares of 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 purchasing an additional 1,679 shares during the last quarter. Finally, AXS Investments LLC bought a new stake in Radian Group during the fourth quarter valued at about $66,000. 95.33% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. Roth Mkm increased their price target on shares of Radian Group from $35.00 to $40.00 and gave the company a “buy” rating in a research report on Friday, August 2nd. Keefe, Bruyette & Woods increased their target price on shares of Radian Group from $36.00 to $39.00 and gave the company an “outperform” rating in a research report on Monday, August 5th. Royal Bank of Canada lifted their price target on shares of Radian Group from $32.00 to $37.00 and gave the stock a “sector perform” rating in a report on Friday, August 2nd. Finally, Barclays increased their price objective on Radian Group from $30.00 to $32.00 and gave the company an “equal weight” rating in a report on Friday, August 2nd. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $35.90.

Radian Group Stock Down 1.0 %

NYSE:RDN opened at $35.09 on Monday. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.84 and a quick ratio of 1.84. The company’s fifty day moving average price is $35.14 and its 200-day moving average price is $32.56. Radian Group Inc. has a 1-year low of $24.56 and a 1-year high of $37.86. The firm has a market capitalization of $5.28 billion, a P/E ratio of 9.28, a PEG ratio of 1.80 and a beta of 1.05.

Radian Group (NYSE:RDN) last released its quarterly earnings data on Wednesday, July 31st. The insurance provider reported $0.99 earnings per share for the quarter, beating analysts’ consensus estimates of $0.87 by $0.12. Radian Group had a return on equity of 14.43% and a net margin of 47.05%. The business had revenue of $312.37 million during the quarter, compared to analyst estimates of $324.00 million. As a group, equities research analysts anticipate that Radian Group Inc. will post 3.75 EPS for the current year.

Radian Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 11th. Shareholders of record on Monday, August 26th were given a $0.245 dividend. The ex-dividend date was Monday, August 26th. This represents a $0.98 annualized dividend and a yield of 2.79%. Radian Group’s dividend payout ratio is presently 25.93%.

Insider Transactions at Radian Group

In related news, CFO Sumita Pandit sold 3,817 shares of the business’s stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $34.23, for a total value of $130,655.91. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other Radian Group news, insider Derek Brummer sold 35,153 shares of the firm’s stock in a transaction that occurred on Thursday, September 5th. The stock was sold at an average price of $35.36, for a total value of $1,243,010.08. Following the sale, the insider now directly owns 186,535 shares of the company’s stock, valued at $6,595,877.60. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Sumita Pandit sold 3,817 shares of the company’s stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $34.23, for a total value of $130,655.91. 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 90 days. 2.16% of the stock is currently owned by company 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.