JPMorgan Chase & Co. Sells 1,063,945 Shares of Radian Group Inc. $RDN

JPMorgan Chase & Co. trimmed its holdings in Radian Group Inc. (NYSE:RDN) by 51.0% in the third quarter, Holdings Channel reports. The institutional investor owned 1,022,845 shares of the insurance provider’s stock after selling 1,063,945 shares during the quarter. JPMorgan Chase & Co.’s holdings in Radian Group were worth $37,047,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Northwestern Mutual Wealth Management Co. boosted its holdings in shares of Radian Group by 178.9% in the third quarter. Northwestern Mutual Wealth Management Co. now owns 742 shares of the insurance provider’s stock worth $27,000 after acquiring an additional 476 shares during the period. Geneos Wealth Management Inc. raised its stake in shares of Radian Group by 191.3% during the 1st quarter. Geneos Wealth Management Inc. now owns 871 shares of the insurance provider’s stock valued at $29,000 after purchasing an additional 572 shares during the period. Financial Consulate Inc. purchased a new stake in Radian Group during the 3rd quarter worth about $29,000. Bessemer Group Inc. lifted its holdings in Radian Group by 66.7% during the 3rd quarter. Bessemer Group Inc. now owns 795 shares of the insurance provider’s stock worth $29,000 after purchasing an additional 318 shares in the last quarter. Finally, Salomon & Ludwin LLC bought a new position in Radian Group in the 3rd quarter worth about $33,000. Institutional investors own 95.33% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on RDN. Weiss Ratings downgraded shares of Radian Group from a “buy (a-)” rating to a “buy (b+)” rating in a report on Tuesday, January 13th. Barclays set a $40.00 price objective on shares of Radian Group in a research note on Monday, February 23rd. UBS Group lowered their target price on shares of Radian Group from $41.00 to $39.00 and set a “neutral” rating on the stock in a research note on Thursday, March 12th. Keefe, Bruyette & Woods raised shares of Radian Group from a “market perform” rating to an “outperform” rating and raised their price target for the company from $41.00 to $42.00 in a report on Wednesday, February 11th. Finally, Roth Mkm restated a “buy” rating and set a $45.00 price target on shares of Radian Group in a research report on Friday, January 2nd. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $40.60.

Radian Group Stock Performance

NYSE RDN opened at $32.44 on Friday. Radian Group Inc. has a 52-week low of $29.32 and a 52-week high of $38.84. The company has a fifty day moving average of $33.37 and a 200-day moving average of $34.55. The company has a market capitalization of $4.42 billion, a P/E ratio of 7.82, a P/E/G ratio of 1.75 and a beta of 0.80. The company has a debt-to-equity ratio of 0.23, a quick ratio of 3.40 and a current ratio of 3.40.

Radian Group (NYSE:RDN) last posted its quarterly earnings data on Wednesday, February 18th. The insurance provider reported $1.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.11 by $0.05. The firm had revenue of $300.51 million during the quarter, compared to analysts’ expectations of $300.45 million. Radian Group had a return on equity of 13.07% and a net margin of 46.99%.The company’s revenue for the quarter was up 2.7% compared to the same quarter last year. During the same period in the prior year, the business earned $1.09 EPS. As a group, equities research analysts predict that Radian Group Inc. will post 3.79 EPS for the current fiscal year.

Radian Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 10th. Shareholders of record on Monday, February 23rd were paid a $0.255 dividend. The ex-dividend date of this dividend was Monday, February 23rd. This represents a $1.02 annualized dividend and a yield of 3.1%. Radian Group’s dividend payout ratio is currently 24.58%.

Radian Group Profile

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.