Franklin Resources Inc. Sells 378 Shares of Radian Group Inc. (NYSE:RDN)

Franklin Resources Inc. cut its holdings in Radian Group Inc. (NYSE:RDN) by 0.4% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 86,222 shares of the insurance provider’s stock after selling 378 shares during the quarter. Franklin Resources Inc. owned about 0.06% of Radian Group worth $3,001,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Assenagon Asset Management S.A. lifted its stake in shares of 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 valued at $28,725,000 after purchasing an additional 605,956 shares during the period. Point72 Asset Management L.P. lifted its stake in 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 valued at $20,548,000 after buying an additional 542,801 shares during the period. American Century Companies Inc. boosted its holdings 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 worth $88,136,000 after buying an additional 435,751 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in shares of Radian Group during the 2nd quarter worth about $6,273,000. Finally, Barclays PLC increased its stake in shares of Radian Group by 218.0% in the 3rd quarter. Barclays PLC now owns 284,463 shares of the insurance provider’s stock valued at $9,868,000 after acquiring an additional 194,996 shares during the last quarter. Institutional investors and hedge funds own 95.33% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, 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 note 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 a consensus rating of “Hold” and an average price target of $36.10.

Insider Activity

In related news, insider Derek Brummer sold 14,705 shares of Radian Group stock in a transaction that occurred on Thursday, December 5th. The stock was sold at an average price of $34.65, for a total value of $509,528.25. Following the sale, the insider now owns 171,830 shares of the company’s stock, valued at approximately $5,953,909.50. This trade represents a 7.88 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 2.16% of the company’s stock.

Radian Group Trading Up 0.3 %

NYSE RDN opened at $31.93 on Thursday. 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 stock’s 50-day moving average is $34.09 and its 200-day moving average is $33.98. Radian Group Inc. has a one year low of $26.11 and a one year high of $37.86. The firm has a market cap of $4.76 billion, a P/E ratio of 8.27, a P/E/G ratio of 1.69 and a beta of 1.04.

Radian Group (NYSE:RDN) last announced its quarterly earnings results on Wednesday, November 6th. The insurance provider reported $1.03 earnings per share for the quarter, beating analysts’ consensus estimates of $0.88 by $0.15. Radian Group had a net margin of 45.96% and a return on equity of 13.81%. The firm had revenue of $319.05 million for the quarter, compared to analyst estimates of $320.30 million. Sell-side analysts anticipate that Radian Group Inc. will post 4 earnings per share for the current fiscal year.

Radian Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders of record on Monday, November 25th were paid a $0.245 dividend. This represents a $0.98 annualized dividend and a dividend yield of 3.07%. The ex-dividend date was Monday, November 25th. Radian Group’s dividend payout ratio is 25.39%.

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.