Edward J. Hoffman Sells 20,000 Shares of Radian Group Inc. (NYSE:RDN) Stock

Radian Group Inc. (NYSE:RDN) EVP Edward J. Hoffman sold 20,000 shares of Radian Group stock in a transaction that occurred on Monday, June 23rd. The stock was sold at an average price of $36.00, for a total value of $720,000.00. Following the transaction, the executive vice president now owns 161,586 shares of the company’s stock, valued at $5,817,096. This represents a 11.01% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Radian Group Price Performance

RDN stock opened at $35.70 on Thursday. The stock has a market capitalization of $4.80 billion, a price-to-earnings ratio of 9.08 and a beta of 0.71. The company has a quick ratio of 3.44, a current ratio of 3.44 and a debt-to-equity ratio of 0.52. Radian Group Inc. has a 52-week low of $29.32 and a 52-week high of $37.86. The stock’s fifty day simple moving average is $33.57 and its 200-day simple moving average is $32.85.

Radian Group (NYSE:RDN) last released its earnings results on Wednesday, April 30th. The insurance provider reported $0.99 earnings per share for the quarter, topping the consensus estimate of $0.95 by $0.04. Radian Group had a return on equity of 13.54% and a net margin of 46.29%. The firm had revenue of $318.11 million for the quarter, compared to the consensus estimate of $326.99 million. During the same period in the prior year, the business posted $1.03 earnings per share. The firm’s revenue for the quarter was down .4% compared to the same quarter last year. Equities research analysts expect that Radian Group Inc. will post 3.79 EPS for the current year.

Radian Group announced that its board has initiated a stock buyback program on Wednesday, May 21st that authorizes the company to repurchase $750.00 million in outstanding shares. This repurchase authorization authorizes the insurance provider to repurchase up to 16.9% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s board believes its shares are undervalued.

Radian Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 17th. Stockholders of record on Monday, June 2nd were issued a dividend of $0.255 per share. The ex-dividend date was Monday, June 2nd. This represents a $1.02 annualized dividend and a dividend yield of 2.86%. Radian Group’s payout ratio is currently 25.95%.

Institutional Investors Weigh In On Radian Group

A number of institutional investors have recently bought and sold shares of the stock. Geneos Wealth Management Inc. raised its stake in Radian Group by 191.3% during the first quarter. Geneos Wealth Management Inc. now owns 871 shares of the insurance provider’s stock worth $29,000 after purchasing an additional 572 shares during the period. Picton Mahoney Asset Management grew its stake in shares of Radian Group by 54.3% during the 4th quarter. Picton Mahoney Asset Management now owns 972 shares of the insurance provider’s stock valued at $31,000 after buying an additional 342 shares during the period. Covestor Ltd increased its holdings in shares of Radian Group by 35.6% during the 4th quarter. Covestor Ltd now owns 1,351 shares of the insurance provider’s stock worth $43,000 after buying an additional 355 shares during the last quarter. Smartleaf Asset Management LLC increased its holdings in shares of Radian Group by 124.8% during the 4th quarter. Smartleaf Asset Management LLC now owns 2,378 shares of the insurance provider’s stock worth $75,000 after buying an additional 1,320 shares during the last quarter. Finally, Jones Financial Companies Lllp raised its position in shares of Radian Group by 735.8% in the 4th quarter. Jones Financial Companies Lllp now owns 2,407 shares of the insurance provider’s stock worth $76,000 after buying an additional 2,119 shares during the period. 95.33% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have weighed in on RDN. Keefe, Bruyette & Woods reissued an “outperform” rating and set a $38.00 price target (up previously from $37.00) on shares of Radian Group in a research report on Friday, May 2nd. Compass Point cut Radian Group from a “strong-buy” rating to a “hold” rating in a research report on Friday, May 23rd. Finally, UBS Group upped their target price on shares of Radian Group from $34.00 to $36.00 and gave the company a “neutral” rating in a report on Monday, May 5th. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price 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.