Wellington Management Group LLP Sells 11,848 Shares of Radian Group Inc. (NYSE:RDN)

Wellington Management Group LLP reduced its holdings in Radian Group Inc. (NYSE:RDN) by 2.0% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 593,885 shares of the insurance provider’s stock after selling 11,848 shares during the quarter. Wellington Management Group LLP owned 0.41% of Radian Group worth $18,838,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the business. Barclays PLC boosted its position in shares of Radian Group by 218.0% during the third quarter. Barclays PLC now owns 284,463 shares of the insurance provider’s stock worth $9,868,000 after buying an additional 194,996 shares during the period. Blue Trust Inc. boosted its position in shares of Radian Group by 21.1% during the fourth quarter. Blue Trust Inc. now owns 3,030 shares of the insurance provider’s stock worth $105,000 after buying an additional 528 shares during the period. KBC Group NV boosted its position in shares of Radian Group by 46.5% during the fourth quarter. KBC Group NV now owns 6,565 shares of the insurance provider’s stock worth $208,000 after buying an additional 2,084 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its position in shares of Radian Group by 18.6% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 108,871 shares of the insurance provider’s stock worth $3,464,000 after buying an additional 17,053 shares during the period. Finally, Meritage Portfolio Management boosted its position in shares of Radian Group by 9.1% during the fourth quarter. Meritage Portfolio Management now owns 20,937 shares of the insurance provider’s stock worth $664,000 after buying an additional 1,744 shares during the period. 95.33% of the stock is currently owned by institutional investors.

Radian Group Stock Performance

Shares of NYSE RDN opened at $34.19 on Monday. The stock has a 50 day moving average price of $32.83 and a 200 day moving average price of $32.89. Radian Group Inc. has a 52 week low of $29.32 and a 52 week high of $37.86. The company has a debt-to-equity ratio of 0.50, a quick ratio of 2.01 and a current ratio of 2.87. The stock has a market capitalization of $4.59 billion, a PE ratio of 8.70, a price-to-earnings-growth ratio of 1.73 and a beta of 0.71.

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

Radian Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 17th. Shareholders of record on Monday, June 2nd will be paid a $0.255 dividend. The ex-dividend date of this dividend is Monday, June 2nd. This represents a $1.02 annualized dividend and a yield of 2.98%. Radian Group’s dividend payout ratio is 25.95%.

Radian Group announced that its board has initiated a stock repurchase plan on Wednesday, May 21st that allows the company to repurchase $750.00 million in outstanding shares. This repurchase authorization allows the insurance provider to reacquire up to 16.9% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s leadership believes its shares are undervalued.

Analyst Ratings Changes

RDN has been the subject of several recent research reports. UBS Group increased their price target on Radian Group from $34.00 to $36.00 and gave the company a “neutral” rating in a research report on Monday, May 5th. Keefe, Bruyette & Woods reissued an “outperform” rating and set a $38.00 price target (up from $37.00) on shares of Radian Group in a research report on Friday, May 2nd. Finally, Compass Point cut Radian Group from a “strong-buy” rating to a “hold” rating in a research report on Friday, May 23rd. Four equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, Radian Group has an average rating of “Hold” and a consensus price target of $36.83.

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.