Algebris UK Ltd Sells 6,151 Shares of Radian Group Inc. (NYSE:RDN)

Algebris UK Ltd cut its position in Radian Group Inc. (NYSE:RDN) by 6.6% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 86,708 shares of the insurance provider’s stock after selling 6,151 shares during the quarter. Radian Group accounts for about 0.7% of Algebris UK Ltd’s holdings, making the stock its 20th biggest holding. Algebris UK Ltd’s holdings in Radian Group were worth $2,691,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Hexagon Capital Partners LLC lifted its holdings in Radian Group by 145.1% during the 4th quarter. Hexagon Capital Partners LLC now owns 941 shares of the insurance provider’s stock worth $27,000 after buying an additional 557 shares during the period. Johnson Financial Group Inc. acquired a new stake in Radian Group during the fourth quarter worth approximately $46,000. AXS Investments LLC bought a new stake in Radian Group in the fourth quarter worth approximately $66,000. GAMMA Investing LLC acquired a new position in Radian Group in the fourth quarter valued at approximately $101,000. Finally, Mather Group LLC. acquired a new stake in shares of Radian Group during the 1st quarter worth approximately $125,000. 95.33% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on RDN shares. UBS Group boosted their target price on shares of Radian Group from $30.00 to $31.50 and gave the company a “neutral” rating in a research report on Wednesday, May 22nd. Keefe, Bruyette & Woods raised Radian Group from a “market perform” rating to an “outperform” rating and boosted their target price for the company from $35.00 to $36.00 in a research report on Monday, June 3rd. Four equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $31.13.

Insider Activity

In other Radian Group news, Director Noel Joseph Spiegel sold 5,895 shares of Radian Group stock in a transaction on Thursday, May 23rd. The shares were sold at an average price of $31.80, for a total transaction of $187,461.00. Following the transaction, the director now directly owns 20,008 shares of the company’s stock, valued at approximately $636,254.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, EVP Eric Ray sold 65,305 shares of the stock in a transaction that occurred on Thursday, May 23rd. The stock was sold at an average price of $31.05, for a total transaction of $2,027,720.25. Following the completion of the sale, the executive vice president now directly owns 53,791 shares of the company’s stock, valued at $1,670,210.55. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Noel Joseph Spiegel sold 5,895 shares of the business’s stock in a transaction on Thursday, May 23rd. The stock was sold at an average price of $31.80, for a total value of $187,461.00. Following the completion of the transaction, the director now directly owns 20,008 shares in the company, valued at approximately $636,254.40. The disclosure for this sale can be found here. Insiders have sold 117,004 shares of company stock worth $3,651,517 over the last 90 days. 2.16% of the stock is currently owned by corporate insiders.

Radian Group Stock Up 0.8 %

RDN stock traded up $0.25 during midday trading on Friday, reaching $33.01. 784,173 shares of the company’s stock traded hands, compared to its average volume of 753,815. The company has a quick ratio of 1.80, a current ratio of 1.80 and a debt-to-equity ratio of 0.39. The firm’s fifty day moving average price is $31.15 and its 200-day moving average price is $30.24. Radian Group Inc. has a 52 week low of $24.56 and a 52 week high of $33.69. The company has a market cap of $4.97 billion, a price-to-earnings ratio of 8.73, a P/E/G ratio of 1.86 and a beta of 1.05.

Radian Group (NYSE:RDN) last posted its earnings results on Wednesday, May 1st. The insurance provider reported $1.03 EPS for the quarter, topping the consensus estimate of $0.83 by $0.20. Radian Group had a net margin of 47.74% and a return on equity of 14.52%. The company had revenue of $319.42 million during the quarter, compared to the consensus estimate of $314.76 million. During the same period in the previous year, the firm posted $0.98 earnings per share. The firm’s revenue for the quarter was up 3.1% on a year-over-year basis. As a group, sell-side analysts forecast that Radian Group Inc. will post 3.52 earnings per share for the current fiscal year.

Radian Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 20th. Stockholders of record on Tuesday, June 4th were paid a $0.245 dividend. This represents a $0.98 annualized dividend and a dividend yield of 2.97%. The ex-dividend date was Tuesday, June 4th. Radian Group’s dividend payout ratio (DPR) is presently 25.93%.

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.