BNP Paribas Financial Markets Cuts Stake in Radian Group Inc. (NYSE:RDN)

BNP Paribas Financial Markets cut its holdings in Radian Group Inc. (NYSE:RDN) by 42.8% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 194,669 shares of the insurance provider’s stock after selling 145,589 shares during the quarter. BNP Paribas Financial Markets owned approximately 0.13% of Radian Group worth $6,753,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in RDN. Assenagon Asset Management S.A. boosted its stake in shares of Radian Group by 272.8% during the third quarter. Assenagon Asset Management S.A. now owns 828,058 shares of the insurance provider’s stock valued at $28,725,000 after purchasing an additional 605,956 shares in the last quarter. Point72 Asset Management L.P. lifted its holdings in Radian Group by 460.4% during 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 during the period. American Century Companies Inc. boosted its position in Radian Group by 18.2% during the 2nd 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. Healthcare of Ontario Pension Plan Trust Fund bought a new position in shares of Radian Group in the 2nd quarter worth $6,273,000. Finally, WINTON GROUP Ltd lifted its stake in shares of Radian Group by 509.5% during the 2nd quarter. WINTON GROUP Ltd now owns 212,295 shares of the insurance provider’s stock worth $6,602,000 after purchasing an additional 177,466 shares during the last quarter. 95.33% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have commented on RDN shares. Keefe, Bruyette & Woods boosted their target price on shares of Radian Group from $36.00 to $39.00 and gave the stock an “outperform” rating in a report on Monday, August 5th. Barclays lifted their price objective on shares of Radian Group from $32.00 to $33.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 8th. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, Radian Group has an average rating of “Hold” and a consensus price target of $36.10.

Radian Group Price Performance

Shares of NYSE RDN opened at $35.74 on Tuesday. Radian Group Inc. has a fifty-two week low of $24.92 and a fifty-two week high of $37.86. The company has a market cap of $5.32 billion, a PE ratio of 9.26, a P/E/G ratio of 1.79 and a beta of 1.04. The company has a debt-to-equity ratio of 0.42, a quick ratio of 2.01 and a current ratio of 2.01. The business has a 50-day simple moving average of $34.46 and a two-hundred day simple moving average of $33.73.

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

Radian Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Monday, November 25th will be paid a $0.245 dividend. The ex-dividend date is Monday, November 25th. This represents a $0.98 dividend on an annualized basis and a yield of 2.74%. Radian Group’s dividend payout ratio (DPR) is 25.39%.

Insiders Place Their Bets

In related news, insider Derek Brummer sold 35,153 shares of the stock in a transaction that occurred on Thursday, September 5th. The shares were sold at an average price of $35.36, for a total value of $1,243,010.08. Following the transaction, the insider now owns 186,535 shares in the company, valued at approximately $6,595,877.60. This represents a 15.86 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 2.16% of the stock is currently owned by 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.