Insider Buying: Radian Group Inc. (RDN) CEO Acquires 15,000 Shares of Stock
Radian Group Inc. (NYSE:RDN) CEO Richard G. Thornberry bought 15,000 shares of the firm’s stock in a transaction that occurred on Friday, August 18th. The shares were purchased at an average price of $16.78 per share, for a total transaction of $251,700.00. Following the transaction, the chief executive officer now owns 15,000 shares of the company’s stock, valued at approximately $251,700. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.
Radian Group Inc. (RDN) traded down 1.56% during trading on Monday, reaching $16.46. 1,205,695 shares of the company’s stock were exchanged. Radian Group Inc. has a 52 week low of $12.96 and a 52 week high of $19.87. The stock has a market capitalization of $3.54 billion, a price-to-earnings ratio of 18.90 and a beta of 1.61. The company’s 50 day moving average price is $17.28 and its 200-day moving average price is $17.64.
Radian Group (NYSE:RDN) last issued its quarterly earnings data on Tuesday, August 1st. The insurance provider reported $0.48 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.40 by $0.08. Radian Group had a net margin of 16.26% and a return on equity of 12.81%. The business had revenue of $302.91 million during the quarter, compared to analysts’ expectations of $299.07 million. During the same period in the previous year, the company earned $0.38 earnings per share. Radian Group’s revenue for the quarter was up 4.9% on a year-over-year basis. On average, equities analysts expect that Radian Group Inc. will post $1.72 EPS for the current year.
Radian Group announced that its Board of Directors has authorized a share buyback program on Wednesday, August 9th that permits the company to repurchase $50.00 million in shares. This repurchase authorization permits the insurance provider to repurchase up to 1.3% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s management believes its shares are undervalued.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 1st. Stockholders of record on Monday, August 21st will be paid a $0.0025 dividend. This represents a $0.01 dividend on an annualized basis and a dividend yield of 0.06%. The ex-dividend date of this dividend is Thursday, August 17th. Radian Group’s payout ratio is 1.18%.
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Several hedge funds have recently modified their holdings of RDN. Dynamic Technology Lab Private Ltd boosted its stake in shares of Radian Group by 413.8% in the second quarter. Dynamic Technology Lab Private Ltd now owns 78,138 shares of the insurance provider’s stock worth $1,278,000 after buying an additional 62,929 shares during the last quarter. Colony Group LLC boosted its stake in shares of Radian Group by 0.7% in the second quarter. Colony Group LLC now owns 133,918 shares of the insurance provider’s stock worth $2,190,000 after buying an additional 898 shares during the last quarter. Verition Fund Management LLC boosted its stake in shares of Radian Group by 97.2% in the second quarter. Verition Fund Management LLC now owns 46,399 shares of the insurance provider’s stock worth $759,000 after buying an additional 22,873 shares during the last quarter. Sterling Capital Management LLC boosted its stake in shares of Radian Group by 3.0% in the second quarter. Sterling Capital Management LLC now owns 265,653 shares of the insurance provider’s stock worth $4,343,000 after buying an additional 7,633 shares during the last quarter. Finally, Ameritas Investment Partners Inc. boosted its stake in shares of Radian Group by 4.8% in the second quarter. Ameritas Investment Partners Inc. now owns 19,029 shares of the insurance provider’s stock worth $311,000 after buying an additional 877 shares during the last quarter. Institutional investors and hedge funds own 92.71% of the company’s stock.
A number of analysts recently issued reports on RDN shares. ValuEngine upgraded shares of Radian Group from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, June 7th. Zacks Investment Research lowered shares of Radian Group from a “hold” rating to a “sell” rating in a research report on Tuesday, July 4th. Keefe, Bruyette & Woods restated a “buy” rating and set a $21.00 target price on shares of Radian Group in a research report on Friday, April 28th. Deutsche Bank AG decreased their target price on shares of Radian Group from $22.00 to $21.00 and set a “buy” rating on the stock in a research report on Friday, April 28th. Finally, Barclays PLC restated an “overweight” rating and set a $24.00 target price (down previously from $25.00) on shares of Radian Group in a research report on Wednesday, August 2nd. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $20.75.
Radian Group Company Profile
Radian Group Inc is an insurance holding company that provides mortgage insurance, and products and services to the real estate and mortgage finance industries. The Company operates in two segments: Mortgage Insurance and Services. The Mortgage Insurance segment provides credit-related insurance coverage, principally through private mortgage insurance to mortgage lending institutions.
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