Penserra Capital Management LLC Boosts Stock Holdings in Radian Group Inc (NYSE:RDN)
Penserra Capital Management LLC raised its holdings in shares of Radian Group Inc (NYSE:RDN) by 57.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,976 shares of the insurance provider’s stock after buying an additional 1,086 shares during the period. Penserra Capital Management LLC’s holdings in Radian Group were worth $74,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also bought and sold shares of the company. First Trust Advisors LP boosted its position in Radian Group by 5.0% during the fourth quarter. First Trust Advisors LP now owns 175,148 shares of the insurance provider’s stock valued at $4,407,000 after buying an additional 8,271 shares during the period. Squarepoint Ops LLC purchased a new stake in Radian Group during the third quarter valued at about $3,506,000. James Investment Research Inc. boosted its position in Radian Group by 28.0% during the fourth quarter. James Investment Research Inc. now owns 140,515 shares of the insurance provider’s stock valued at $3,535,000 after buying an additional 30,776 shares during the period. Voya Investment Management LLC boosted its position in Radian Group by 37.3% during the third quarter. Voya Investment Management LLC now owns 1,031,399 shares of the insurance provider’s stock valued at $23,557,000 after buying an additional 280,045 shares during the period. Finally, Credit Suisse AG boosted its position in Radian Group by 9.3% during the fourth quarter. Credit Suisse AG now owns 178,937 shares of the insurance provider’s stock valued at $4,503,000 after buying an additional 15,177 shares during the period. Institutional investors and hedge funds own 95.07% of the company’s stock.
Shares of Radian Group stock traded up $2.63 during trading on Thursday, reaching $15.83. 2,961,783 shares of the stock were exchanged, compared to its average volume of 2,091,405. The company has a quick ratio of 1.35, a current ratio of 1.35 and a debt-to-equity ratio of 0.25. The stock’s fifty day moving average is $20.99 and its 200 day moving average is $23.73. The firm has a market cap of $2.30 billion, a price-to-earnings ratio of 4.98, a price-to-earnings-growth ratio of 0.73 and a beta of 1.41. Radian Group Inc has a 1 year low of $10.39 and a 1 year high of $26.32.
The company also recently announced a quarterly dividend, which was paid on Friday, March 6th. Stockholders of record on Monday, February 24th were issued a dividend of $0.125 per share. This is a positive change from Radian Group’s previous quarterly dividend of $0.00. This represents a $0.50 dividend on an annualized basis and a dividend yield of 3.16%. The ex-dividend date of this dividend was Friday, February 21st. Radian Group’s dividend payout ratio is currently 15.58%.
In other news, EVP Edward J. Hoffman sold 10,000 shares of the stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $23.90, for a total transaction of $239,000.00. Following the completion of the sale, the executive vice president now directly owns 61,648 shares in the company, valued at $1,473,387.20. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 1.02% of the company’s stock.
Several research firms have issued reports on RDN. ValuEngine upgraded shares of Radian Group from a “strong sell” rating to a “sell” rating in a research report on Friday, March 13th. B. Riley cut their price target on shares of Radian Group from $24.00 to $20.00 and set a “neutral” rating for the company in a research report on Monday. Two analysts have rated the stock with a sell rating, one has issued a hold rating and five have assigned a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $27.92.
Radian Group Company Profile
Radian Group Inc, through its subsidiaries, engages in the mortgage and real estate services business in the United States. It operates in two segments, Mortgage Insurance and Services. The Mortgage Insurance segment offers credit-related insurance coverage, primarily through private mortgage insurance on residential first-lien mortgage loans, as well as other credit risk management solutions to mortgage lending institutions and mortgage credit investors.
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