The Manufacturers Life Insurance Company Sells 361 Shares of Radian Group Inc. (NYSE:RDN)

The Manufacturers Life Insurance Company lessened its stake in shares of Radian Group Inc. (NYSE:RDN) by 0.4% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 87,990 shares of the insurance provider’s stock after selling 361 shares during the period. The Manufacturers Life Insurance Company owned about 0.06% of Radian Group worth $2,736,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also bought and sold shares of RDN. Fifth Third Bancorp raised its stake in Radian Group by 859.3% in the second quarter. Fifth Third Bancorp now owns 1,295 shares of the insurance provider’s stock valued at $40,000 after buying an additional 1,160 shares during the period. Hexagon Capital Partners LLC raised its stake in 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 buying an additional 709 shares during the period. CWM LLC raised its stake in Radian Group by 539.9% in the second quarter. CWM LLC now owns 1,990 shares of the insurance provider’s stock valued at $62,000 after buying an additional 1,679 shares during the period. Public Employees Retirement System of Ohio bought a new stake in Radian Group in the first quarter valued at approximately $105,000. Finally, Cubist Systematic Strategies LLC bought a new stake in Radian Group in the second quarter valued at approximately $116,000. Institutional investors own 95.33% of the company’s stock.

Radian Group Trading Up 0.6 %

Shares of NYSE:RDN opened at $34.30 on Wednesday. The company has a market capitalization of $5.16 billion, a P/E ratio of 9.07, a P/E/G ratio of 1.89 and a beta of 1.05. Radian Group Inc. has a 1 year low of $24.62 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. The business’s 50 day simple moving average is $34.92 and its 200 day simple moving average is $32.82.

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

Radian Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 11th. Investors of record on Monday, August 26th were given a dividend of $0.245 per share. This represents a $0.98 dividend on an annualized basis and a yield of 2.86%. The ex-dividend date of this dividend was Monday, August 26th. Radian Group’s dividend payout ratio is currently 25.93%.

Insider Buying and Selling

In related news, insider Derek Brummer sold 35,153 shares of the 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 sale, the insider now owns 186,535 shares of the company’s stock, valued at $6,595,877.60. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other Radian Group news, COO Mary Dickerson sold 19,511 shares of the company’s stock in a transaction on Wednesday, August 28th. The stock was sold at an average price of $35.93, for a total transaction of $701,030.23. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Derek Brummer sold 35,153 shares of the company’s stock in a transaction 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 owns 186,535 shares of the company’s stock, valued at $6,595,877.60. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 119,772 shares of company stock valued at $4,260,796 over the last 90 days. 2.16% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on RDN. Barclays upped their target price on Radian Group from $32.00 to $33.00 and gave the company an “equal weight” rating in a research report on Tuesday. Roth Mkm upped their target price on 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 upped their target price on Radian Group from $36.00 to $39.00 and gave the company an “outperform” rating in a research report on Monday, August 5th. Finally, Royal Bank of Canada upped their target price on Radian Group from $32.00 to $37.00 and gave the company a “sector perform” rating in a research report on Friday, August 2nd. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $36.10.

About Radian Group

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.