Radian Group Inc (RDN) Shares Sold by Dynamic Technology Lab Private Ltd
Dynamic Technology Lab Private Ltd lessened its stake in shares of Radian Group Inc (NYSE:RDN) by 58.6% during the 2nd quarter, Holdings Channel reports. The firm owned 28,962 shares of the insurance provider’s stock after selling 40,959 shares during the quarter. Dynamic Technology Lab Private Ltd’s holdings in Radian Group were worth $470,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other large investors also recently added to or reduced their stakes in RDN. Canada Pension Plan Investment Board grew its position in Radian Group by 94.1% during the 2nd quarter. Canada Pension Plan Investment Board now owns 5,056,400 shares of the insurance provider’s stock worth $82,015,000 after purchasing an additional 2,451,300 shares during the last quarter. Segall Bryant & Hamill LLC purchased a new stake in Radian Group during the 2nd quarter worth approximately $18,839,000. Wells Fargo & Company MN grew its position in Radian Group by 31.8% during the 1st quarter. Wells Fargo & Company MN now owns 3,053,878 shares of the insurance provider’s stock worth $58,145,000 after purchasing an additional 736,875 shares during the last quarter. Russell Investments Group Ltd. grew its position in Radian Group by 183.5% during the 1st quarter. Russell Investments Group Ltd. now owns 843,070 shares of the insurance provider’s stock worth $16,051,000 after purchasing an additional 545,639 shares during the last quarter. Finally, BlackRock Inc. grew its position in Radian Group by 3.7% during the 2nd quarter. BlackRock Inc. now owns 15,049,243 shares of the insurance provider’s stock worth $244,099,000 after purchasing an additional 534,225 shares during the last quarter. 92.60% of the stock is currently owned by institutional investors.
RDN stock opened at $20.28 on Tuesday. The firm has a market capitalization of $4.37 billion, a PE ratio of 11.14, a price-to-earnings-growth ratio of 1.62 and a beta of 1.49. The company has a current ratio of 1.48, a quick ratio of 1.48 and a debt-to-equity ratio of 0.32. Radian Group Inc has a 12 month low of $14.06 and a 12 month high of $23.49.
Radian Group declared that its board has initiated a stock repurchase plan on Thursday, August 16th that permits the company to repurchase $100.00 million in shares. This repurchase authorization permits the insurance provider to repurchase up to 2.4% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board of directors believes its stock is undervalued.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 7th. Stockholders of record on Monday, August 27th were issued a $0.0025 dividend. This represents a $0.01 annualized dividend and a dividend yield of 0.05%. The ex-dividend date was Friday, August 24th. Radian Group’s dividend payout ratio (DPR) is currently 0.55%.
RDN has been the topic of several research analyst reports. ValuEngine downgraded shares of Radian Group from a “hold” rating to a “sell” rating in a research report on Monday, June 4th. MKM Partners dropped their price objective on shares of Radian Group from $27.00 to $20.00 and set a “buy” rating on the stock in a report on Tuesday, June 5th. Zacks Investment Research raised shares of Radian Group from a “hold” rating to a “buy” rating and set a $19.00 price objective on the stock in a report on Tuesday, July 17th. B. Riley upped their price objective on shares of Radian Group from $20.00 to $24.00 and gave the company a “neutral” rating in a report on Tuesday, August 7th. Finally, Bank of America upped their price objective on shares of Radian Group from $13.00 to $23.00 and gave the company a “buy” rating in a report on Monday, August 13th. Five analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $23.11.
About Radian Group
Radian Group Inc, through its subsidiaries, provides mortgage and real estate products and services in the United States. It operates through two segments, Mortgage Insurance and Services. The Mortgage Insurance segment offers credit-related insurance coverage, primarily through private mortgage insurance, as well as other credit risk management solutions to mortgage lending institutions; and primary mortgage insurance coverage on residential first-lien mortgage loans.
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