JPMorgan Chase & Co. Sells 388,958 Shares of Radian Group Inc. (NYSE:RDN)

JPMorgan Chase & Co. lessened its holdings in shares of Radian Group Inc. (NYSE:RDN) by 4.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 7,788,532 shares of the insurance provider’s stock after selling 388,958 shares during the quarter. JPMorgan Chase & Co. owned about 5.23% of Radian Group worth $270,184,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in the business. Assenagon Asset Management S.A. lifted its stake in Radian Group by 272.8% in the 3rd quarter. Assenagon Asset Management S.A. now owns 828,058 shares of the insurance provider’s stock worth $28,725,000 after purchasing an additional 605,956 shares in the last quarter. Point72 Asset Management L.P. lifted its position 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 buying an additional 542,801 shares in the last quarter. American Century Companies Inc. boosted its stake in Radian Group by 18.2% during 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 buying an additional 435,751 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund purchased a new position in Radian Group during the 2nd quarter valued at approximately $6,273,000. Finally, Barclays PLC increased its stake in Radian Group by 218.0% in the 3rd quarter. Barclays PLC now owns 284,463 shares of the insurance provider’s stock worth $9,868,000 after acquiring an additional 194,996 shares during the last quarter. 95.33% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Radian Group

In other Radian Group news, insider Derek Brummer sold 14,705 shares of the business’s stock in a transaction that occurred on Thursday, December 5th. The stock was sold at an average price of $34.65, for a total transaction of $509,528.25. Following the completion of the transaction, the insider now owns 171,830 shares in the company, valued at $5,953,909.50. The trade was a 7.88 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 2.16% of the stock is currently owned by insiders.

Radian Group Price Performance

NYSE:RDN opened at $31.73 on Tuesday. The firm has a market capitalization of $4.73 billion, a price-to-earnings ratio of 8.22, a PEG ratio of 1.69 and a beta of 1.04. The company has a debt-to-equity ratio of 0.42, a current ratio of 2.01 and a quick ratio of 2.01. The business has a 50 day simple moving average of $33.83 and a 200-day simple moving average of $34.02. Radian Group Inc. has a 1 year low of $26.11 and a 1 year high of $37.86.

Radian Group (NYSE:RDN) last issued its quarterly earnings results on Wednesday, November 6th. The insurance provider reported $1.03 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.88 by $0.15. The company had revenue of $319.05 million during the quarter, compared to the consensus estimate of $320.30 million. Radian Group had a return on equity of 13.81% and a net margin of 45.96%. Equities analysts forecast that Radian Group Inc. will post 4 EPS for the current year.

Radian Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Investors of record on Monday, November 25th were paid a dividend of $0.245 per share. The ex-dividend date of this dividend was Monday, November 25th. This represents a $0.98 dividend on an annualized basis and a dividend yield of 3.09%. Radian Group’s dividend payout ratio is presently 25.39%.

Wall Street Analyst Weigh In

Separately, Barclays raised their target price on shares of Radian Group from $32.00 to $33.00 and gave the company an “equal weight” rating in a report on Tuesday, October 8th. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $36.10.

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.