SummitTX Capital L.P. Acquires 21,812 Shares of Radian Group Inc. $RDN

SummitTX Capital L.P. grew its holdings in shares of Radian Group Inc. (NYSE:RDN) by 356.4% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 27,932 shares of the insurance provider’s stock after acquiring an additional 21,812 shares during the quarter. SummitTX Capital L.P.’s holdings in Radian Group were worth $924,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Charles Schwab Investment Management Inc. increased its position in Radian Group by 1.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 5,959,463 shares of the insurance provider’s stock worth $214,481,000 after purchasing an additional 63,437 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Radian Group by 4.0% during the first quarter. Dimensional Fund Advisors LP now owns 5,948,335 shares of the insurance provider’s stock worth $196,773,000 after buying an additional 230,912 shares during the last quarter. Donald Smith & CO. Inc. grew its stake in shares of Radian Group by 43.7% during the fourth quarter. Donald Smith & CO. Inc. now owns 3,012,255 shares of the insurance provider’s stock worth $108,411,000 after buying an additional 916,003 shares during the last quarter. Balyasny Asset Management L.P. grew its stake in shares of Radian Group by 16.8% during the fourth quarter. Balyasny Asset Management L.P. now owns 2,188,624 shares of the insurance provider’s stock worth $78,769,000 after buying an additional 315,575 shares during the last quarter. Finally, Norges Bank acquired a new position in shares of Radian Group during the fourth quarter worth $77,364,000. Institutional investors own 95.33% of the company’s stock.

Insiders Place Their Bets

In other Radian Group news, EVP Edward J. Hoffman sold 15,000 shares of the stock in a transaction dated Friday, May 8th. The stock was sold at an average price of $38.00, for a total transaction of $570,000.00. Following the completion of the sale, the executive vice president directly owned 93,708 shares in the company, valued at approximately $3,560,904. This trade represents a 13.80% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Margaret Anne Leyden sold 2,070 shares of Radian Group stock in a transaction dated Friday, May 29th. The stock was sold at an average price of $34.59, for a total value of $71,601.30. Following the completion of the transaction, the director directly owned 6,864 shares of the company’s stock, valued at approximately $237,425.76. This trade represents a 23.17% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 30,516 shares of company stock valued at $1,127,576 over the last quarter. Company insiders own 2.03% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on RDN shares. Bank of America upgraded Radian Group from an “underperform” rating to a “buy” rating and increased their price target for the company from $35.00 to $43.00 in a research note on Wednesday, April 29th. Barclays upped their target price on Radian Group from $37.00 to $39.00 and gave the stock an “equal weight” rating in a report on Monday, May 11th. Zacks Research downgraded Radian Group from a “strong-buy” rating to a “hold” rating in a research report on Monday, April 20th. Keefe, Bruyette & Woods lifted their price target on Radian Group from $43.00 to $46.00 and gave the company an “outperform” rating in a research note on Thursday, June 25th. Finally, Royal Bank Of Canada initiated coverage on Radian Group in a report on Friday, May 22nd. They set an “outperform” rating and a $47.00 price target on the stock. Five research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat, Radian Group has a consensus rating of “Moderate Buy” and a consensus price target of $43.17.

Radian Group Stock Performance

Shares of RDN stock opened at $38.86 on Friday. The business’s 50 day simple moving average is $36.56 and its 200 day simple moving average is $35.05. Radian Group Inc. has a one year low of $31.50 and a one year high of $41.05. The stock has a market capitalization of $5.17 billion, a PE ratio of 9.57, a PEG ratio of 1.00 and a beta of 0.72. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.58 and a quick ratio of 0.58.

Radian Group (NYSE:RDN) last released its quarterly earnings results on Thursday, May 7th. The insurance provider reported $1.27 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.17 by $0.10. The firm had revenue of $466.34 million during the quarter, compared to analyst estimates of $377.83 million. Radian Group had a net margin of 40.50% and a return on equity of 13.57%. The company’s revenue was up 46.6% compared to the same quarter last year. During the same quarter last year, the business earned $0.99 EPS. As a group, research analysts forecast that Radian Group Inc. will post 5.17 earnings per share for the current year.

Radian Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 17th. Investors of record on Tuesday, June 2nd were paid a dividend of $0.255 per share. This represents a $1.02 dividend on an annualized basis and a yield of 2.6%. The ex-dividend date of this dividend was Tuesday, June 2nd. Radian Group’s dividend payout ratio (DPR) is currently 25.12%.

About Radian Group

Radian Group Inc (NYSE:RDN) is a leading provider of private mortgage insurance and related risk management solutions in the United States. Through its primary subsidiary, Radian Guaranty Inc, the company underwrites borrower-paid and lender-paid mortgage insurance that protects lenders and investors from potential losses arising from borrower defaults. Radian’s core business focuses on supporting residential mortgage originations and servicing by offering capital-efficient credit protection and credit risk transfer strategies.

Beyond mortgage insurance, Radian offers an array of real estate transaction services under its Radian Title division.