Cubist Systematic Strategies LLC Takes $116,000 Position in Radian Group Inc. (NYSE:RDN)

Cubist Systematic Strategies LLC purchased a new stake in shares of Radian Group Inc. (NYSE:RDN) in the second quarter, according to its most recent filing with the SEC. The firm purchased 3,724 shares of the insurance provider’s stock, valued at approximately $116,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Vest Financial LLC boosted its position in shares of Radian Group by 6,836.0% in the 1st quarter. Vest Financial LLC now owns 585,886 shares of the insurance provider’s stock worth $19,610,000 after buying an additional 577,439 shares in the last quarter. Point72 Asset Management L.P. raised its holdings in shares of Radian Group by 460.4% in the second quarter. Point72 Asset Management L.P. now owns 660,693 shares of the insurance provider’s stock worth $20,548,000 after acquiring an additional 542,801 shares during the last quarter. American Century Companies Inc. lifted its position in shares of Radian Group by 18.2% in the second quarter. American Century Companies Inc. now owns 2,833,950 shares of the insurance provider’s stock valued at $88,136,000 after acquiring an additional 435,751 shares in the last quarter. Assenagon Asset Management S.A. acquired a new stake in shares of Radian Group during the second quarter valued at $6,907,000. Finally, WINTON GROUP Ltd raised its stake in Radian Group by 509.5% in the 2nd quarter. WINTON GROUP Ltd now owns 212,295 shares of the insurance provider’s stock valued at $6,602,000 after purchasing an additional 177,466 shares during the last quarter. Institutional investors and hedge funds own 95.33% of the company’s stock.

Radian Group Price Performance

Radian Group stock opened at $34.90 on Wednesday. The firm has a fifty day moving average of $34.84 and a 200-day moving average of $32.86. Radian Group Inc. has a 52-week low of $24.62 and a 52-week high of $37.86. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 0.45. The firm has a market capitalization of $5.26 billion, a P/E ratio of 9.23, a PEG ratio of 1.82 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 EPS for the quarter, beating the consensus estimate of $0.87 by $0.12. The company had revenue of $312.37 million for the quarter, compared to analyst estimates of $324.00 million. Radian Group had a return on equity of 14.43% and a net margin of 47.05%. As a group, analysts predict that Radian Group Inc. will post 3.75 EPS for the current year.

Radian Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 11th. Shareholders of record on Monday, August 26th were issued a $0.245 dividend. This represents a $0.98 dividend on an annualized basis and a yield of 2.81%. The ex-dividend date was Monday, August 26th. Radian Group’s dividend payout ratio is presently 25.93%.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the stock. Barclays lifted their price target on shares of Radian Group from $32.00 to $33.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 8th. Keefe, Bruyette & Woods increased their target price on Radian Group from $36.00 to $39.00 and gave the stock an “outperform” rating in a research report on Monday, August 5th. Roth Mkm upped their price target on shares of Radian Group from $35.00 to $40.00 and gave the stock a “buy” rating in a research report on Friday, August 2nd. Finally, Royal Bank of Canada upped their price objective on Radian Group from $32.00 to $37.00 and gave the stock a “sector perform” rating in a report on Friday, August 2nd. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $36.10.

Insider Buying and Selling at Radian Group

In other 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 transaction of $130,655.91. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Radian Group news, EVP Eric Ray sold 53,791 shares of the firm’s stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $35.67, for a total transaction of $1,918,724.97. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible 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 shares were 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 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.

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.