Northern Trust Corp Cuts Holdings in Radian Group Inc. (NYSE:RDN)

Northern Trust Corp reduced its position in shares of Radian Group Inc. (NYSE:RDN) by 0.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,298,279 shares of the insurance provider’s stock after selling 729 shares during the quarter. Northern Trust Corp owned 1.54% of Radian Group worth $72,901,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the business. First Trust Advisors LP raised its position in Radian Group by 20.6% during the fourth quarter. First Trust Advisors LP now owns 10,766,237 shares of the insurance provider’s stock worth $341,505,000 after acquiring an additional 1,836,020 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in Radian Group by 4.2% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 6,094,163 shares of the insurance provider’s stock valued at $193,307,000 after buying an additional 248,423 shares in the last quarter. American Century Companies Inc. raised its position in Radian Group by 7.9% in the fourth quarter. American Century Companies Inc. now owns 3,351,361 shares of the insurance provider’s stock valued at $106,305,000 after purchasing an additional 245,303 shares during the period. Norges Bank purchased a new position in shares of Radian Group during the 4th quarter worth $73,693,000. Finally, River Road Asset Management LLC increased its position in shares of Radian Group by 0.3% during the 4th quarter. River Road Asset Management LLC now owns 1,644,386 shares of the insurance provider’s stock worth $52,160,000 after purchasing an additional 5,524 shares during the last quarter. 95.33% of the stock is currently owned by institutional investors and hedge funds.

Radian Group Stock Performance

Shares of RDN stock opened at $33.88 on Tuesday. Radian Group Inc. has a 52 week low of $29.32 and a 52 week high of $37.86. The firm has a 50 day moving average of $32.08 and a two-hundred day moving average of $32.90. The company has a quick ratio of 2.01, a current ratio of 2.87 and a debt-to-equity ratio of 0.50. The stock has a market capitalization of $4.78 billion, a PE ratio of 8.62, a P/E/G ratio of 1.73 and a beta of 0.71.

Radian Group (NYSE:RDN) last posted its quarterly earnings results on Wednesday, April 30th. The insurance provider reported $0.99 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.95 by $0.04. Radian Group had a return on equity of 13.96% and a net margin of 46.85%. The company had revenue of $318.11 million for the quarter, compared to analyst estimates of $326.99 million. During the same quarter last year, the company earned $1.03 EPS. Radian Group’s revenue for the quarter was down .4% compared to the same quarter last year. On average, research analysts predict that Radian Group Inc. will post 3.79 EPS for the current fiscal year.

Radian Group Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 11th. Shareholders of record on Monday, February 24th were issued a dividend of $0.255 per share. This represents a $1.02 annualized dividend and a yield of 3.01%. The ex-dividend date of this dividend was Monday, February 24th. This is a boost from Radian Group’s previous quarterly dividend of $0.25. Radian Group’s payout ratio is 25.95%.

Insider Buying and Selling at Radian Group

In other Radian Group news, Director Gregory Serio sold 4,100 shares of the firm’s stock in a transaction on Friday, February 28th. The shares were sold at an average price of $32.65, for a total transaction of $133,865.00. Following the transaction, the director now directly owns 344 shares of the company’s stock, valued at approximately $11,231.60. This trade represents a 92.26 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 2.01% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have weighed in on RDN shares. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and set a $38.00 target price (up previously from $37.00) on shares of Radian Group in a research note on Friday. UBS Group boosted their target price on Radian Group from $34.00 to $36.00 and gave the company a “neutral” rating in a research report on Monday. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, Radian Group has a consensus rating of “Hold” and a consensus target price of $36.80.

About Radian Group

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.