Bank of Montreal Can Cuts Position in Radian Group Inc. (NYSE:RDN)

Bank of Montreal Can decreased its holdings in Radian Group Inc. (NYSE:RDN) by 7.7% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 20,653 shares of the insurance provider’s stock after selling 1,731 shares during the quarter. Bank of Montreal Can’s holdings in Radian Group were worth $643,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Arizona State Retirement System raised its stake in Radian Group by 0.8% in the second quarter. Arizona State Retirement System now owns 42,413 shares of the insurance provider’s stock valued at $1,319,000 after buying an additional 321 shares in the last quarter. Measured Wealth Private Client Group LLC grew its stake in Radian Group by 2.2% in the 1st quarter. Measured Wealth Private Client Group LLC now owns 20,848 shares of the insurance provider’s stock valued at $698,000 after acquiring an additional 453 shares during the last quarter. Astoria Portfolio Advisors LLC. increased its holdings in Radian Group by 6.7% during the 1st quarter. Astoria Portfolio Advisors LLC. now owns 7,482 shares of the insurance provider’s stock valued at $250,000 after acquiring an additional 470 shares in the last quarter. Tidal Investments LLC increased its stake in shares of Radian Group by 5.2% during the 1st quarter. Tidal Investments LLC now owns 9,516 shares of the insurance provider’s stock worth $319,000 after purchasing an additional 474 shares in the last quarter. Finally, Hexagon Capital Partners LLC lifted its position in shares of Radian Group by 37.0% in the second quarter. Hexagon Capital Partners LLC now owns 2,261 shares of the insurance provider’s stock valued at $70,000 after acquiring an additional 611 shares in the last quarter. Hedge funds and other institutional investors own 95.33% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently commented on RDN. 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 note on Monday, August 5th. Royal Bank of Canada upped their price target on shares of Radian Group from $32.00 to $37.00 and gave the stock a “sector perform” rating in a research report on Friday, August 2nd. Roth Mkm lifted their price objective on shares of Radian Group from $35.00 to $40.00 and gave the company a “buy” rating in a research note on Friday, August 2nd. Finally, Barclays increased their price target on Radian Group from $32.00 to $33.00 and gave the company an “equal weight” rating in a report on Tuesday. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $36.10.

Radian Group Price Performance

RDN stock opened at $34.30 on Wednesday. Radian Group Inc. has a one year low of $24.62 and a one year high of $37.86. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 0.45. The firm has a market capitalization of $5.16 billion, a PE ratio of 9.07, a P/E/G ratio of 1.89 and a beta of 1.05. The firm has a 50-day moving average of $34.92 and a two-hundred day moving average of $32.82.

Radian Group (NYSE:RDN) last released its quarterly earnings data on Wednesday, July 31st. The insurance provider reported $0.99 EPS for the quarter, topping 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 firm had revenue of $312.37 million for the quarter, compared to the consensus estimate of $324.00 million. On average, analysts forecast that Radian Group Inc. will post 3.75 earnings per share for the current year.

Radian Group Announces Dividend

The company 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. The ex-dividend date was Monday, August 26th. This represents a $0.98 annualized dividend and a yield of 2.86%. Radian Group’s dividend payout ratio (DPR) is 25.93%.

Insiders Place Their Bets

In related news, CFO Sumita Pandit sold 3,817 shares of the stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $34.23, for a total transaction of $130,655.91. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Radian Group news, insider Derek Brummer sold 35,153 shares of Radian Group stock in a transaction dated 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 directly owns 186,535 shares in the company, valued at approximately $6,595,877.60. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Sumita Pandit sold 3,817 shares of the business’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 have sold 119,772 shares of company stock worth $4,260,796 over the last 90 days. Corporate insiders own 2.16% of the company’s stock.

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.