Meritage Portfolio Management Sells 502 Shares of Radian Group Inc. $RDN

Meritage Portfolio Management trimmed its position in shares of Radian Group Inc. (NYSE:RDN) by 2.4% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 20,609 shares of the insurance provider’s stock after selling 502 shares during the quarter. Meritage Portfolio Management’s holdings in Radian Group were worth $742,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in RDN. CWM LLC grew its stake in Radian Group by 25.6% in the second quarter. CWM LLC now owns 31,418 shares of the insurance provider’s stock valued at $1,132,000 after acquiring an additional 6,399 shares during the period. KLP Kapitalforvaltning AS grew its stake in Radian Group by 2.1% in the second quarter. KLP Kapitalforvaltning AS now owns 58,500 shares of the insurance provider’s stock valued at $2,107,000 after acquiring an additional 1,200 shares during the period. QRG Capital Management Inc. grew its stake in Radian Group by 6.9% in the second quarter. QRG Capital Management Inc. now owns 32,911 shares of the insurance provider’s stock valued at $1,185,000 after acquiring an additional 2,127 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its stake in Radian Group by 0.7% during the 2nd quarter. Mirae Asset Global Investments Co. Ltd. now owns 122,238 shares of the insurance provider’s stock worth $4,403,000 after purchasing an additional 869 shares in the last quarter. Finally, Sage Rhino Capital LLC bought a new stake in Radian Group during the 2nd quarter worth approximately $205,000. 95.33% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Radian Group news, EVP Edward J. Hoffman sold 10,000 shares of the stock in a transaction on Thursday, September 18th. The shares were sold at an average price of $37.00, for a total value of $370,000.00. Following the completion of the sale, the executive vice president owned 153,708 shares in the company, valued at $5,687,196. This trade represents a 6.11% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 2.16% of the stock is currently owned by corporate insiders.

Radian Group Price Performance

NYSE:RDN opened at $33.32 on Monday. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.68 and a current ratio of 1.68. The stock’s 50-day simple moving average is $34.98 and its 200 day simple moving average is $34.11. The company has a market cap of $4.51 billion, a P/E ratio of 8.39 and a beta of 0.73. Radian Group Inc. has a 52-week low of $29.32 and a 52-week high of $38.84.

Radian Group (NYSE:RDN) last released its earnings results on Wednesday, July 30th. The insurance provider reported $1.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.93 by $0.08. Radian Group had a return on equity of 13.25% and a net margin of 45.62%.The business had revenue of $318.00 million for the quarter, compared to the consensus estimate of $321.97 million. During the same quarter in the previous year, the business earned $0.98 earnings per share. Radian Group’s quarterly revenue was down .9% on a year-over-year basis. As a group, sell-side analysts forecast that Radian Group Inc. will post 3.79 EPS for the current fiscal year.

Radian Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 9th. Shareholders of record on Monday, August 25th were paid a $0.255 dividend. The ex-dividend date was Monday, August 25th. This represents a $1.02 dividend on an annualized basis and a yield of 3.1%. Radian Group’s dividend payout ratio (DPR) is currently 25.69%.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. UBS Group reissued a “neutral” rating and set a $38.00 target price (up from $36.00) on shares of Radian Group in a research note on Monday, July 14th. Keefe, Bruyette & Woods lowered shares of Radian Group from a “moderate buy” rating to a “hold” rating and set a $38.00 price objective on the stock. in a report on Monday, July 7th. Zacks Research upgraded Radian Group from a “hold” rating to a “strong-buy” rating in a report on Monday, September 22nd. Barclays upped their price target on Radian Group from $35.00 to $37.00 and gave the stock a “cautious” rating in a research report on Monday, October 6th. Finally, Weiss Ratings reaffirmed a “buy (a-)” rating on shares of Radian Group in a research report on Wednesday, October 8th. Two equities research analysts have rated the stock with a Strong Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Radian Group currently has a consensus rating of “Moderate Buy” and an average target price of $37.50.

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.