Envestnet Asset Management Inc. Has $6.59 Million Position in Radian Group Inc. $RDN

Envestnet Asset Management Inc. lowered its holdings in Radian Group Inc. (NYSE:RDN) by 3.2% in the second quarter, Holdings Channel.com reports. The firm owned 183,064 shares of the insurance provider’s stock after selling 5,977 shares during the period. Envestnet Asset Management Inc.’s holdings in Radian Group were worth $6,594,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Charles Schwab Investment Management Inc. raised its position in Radian Group by 4.0% during the first quarter. Charles Schwab Investment Management Inc. now owns 6,340,962 shares of the insurance provider’s stock valued at $209,696,000 after buying an additional 246,799 shares during the period. American Century Companies Inc. boosted its position in Radian Group by 9.2% during the 1st quarter. American Century Companies Inc. now owns 3,658,250 shares of the insurance provider’s stock worth $120,978,000 after acquiring an additional 306,889 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new position in Radian Group during the 2nd quarter valued at about $69,714,000. Ameriprise Financial Inc. increased its holdings in shares of Radian Group by 5.3% in the 1st quarter. Ameriprise Financial Inc. now owns 1,569,410 shares of the insurance provider’s stock valued at $51,902,000 after purchasing an additional 79,159 shares during the period. Finally, Jane Street Group LLC increased its holdings in shares of Radian Group by 11,446.4% in the 1st quarter. Jane Street Group LLC now owns 1,310,517 shares of the insurance provider’s stock valued at $43,339,000 after purchasing an additional 1,299,167 shares during the period. Hedge funds and other institutional investors own 95.33% of the company’s stock.

Radian Group Price Performance

NYSE RDN opened at $35.48 on Wednesday. The company has a quick ratio of 1.68, a current ratio of 1.68 and a debt-to-equity ratio of 0.54. The stock has a market capitalization of $4.81 billion, a PE ratio of 8.94 and a beta of 0.81. Radian Group Inc. has a 12-month low of $29.32 and a 12-month high of $38.84. The company has a 50 day moving average price of $34.76 and a two-hundred day moving average price of $34.43.

Radian Group (NYSE:RDN) last announced its quarterly earnings results on Tuesday, November 4th. The insurance provider reported $1.15 EPS for the quarter, topping the consensus estimate of $0.95 by $0.20. Radian Group had a net margin of 45.62% and a return on equity of 13.25%. The company had revenue of $303.19 million for the quarter, compared to analyst estimates of $308.77 million. During the same quarter in the prior year, the business posted $1.03 EPS. Radian Group’s quarterly revenue was down 3.3% on a year-over-year basis. As a group, equities analysts predict that Radian Group Inc. will post 3.79 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several analysts recently commented on RDN shares. Weiss Ratings cut shares of Radian Group from a “buy (a-)” rating to a “buy (b)” rating in a report on Saturday, October 25th. UBS Group cut their target price on shares of Radian Group from $43.00 to $40.00 and set a “neutral” rating for the company in a research report on Wednesday, October 15th. Zacks Research upgraded shares of Radian Group from a “hold” rating to a “strong-buy” rating in a report on Monday, September 22nd. Finally, Barclays boosted their price target on shares of Radian Group from $35.00 to $37.00 and gave the company a “cautious” rating in a report on Monday, October 6th. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $38.00.

Insider Buying and Selling

In other Radian Group news, EVP Edward J. Hoffman sold 10,000 shares of the firm’s stock in a transaction dated Thursday, September 18th. The stock was sold at an average price of $37.00, for a total transaction of $370,000.00. Following the transaction, the executive vice president directly 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 2.01% of the stock is owned by insiders.

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.