Michael Weinbach Buys 120,487 Shares of Radian Group (NYSE:RDN) Stock

Radian Group Inc. (NYSE:RDN) CEO Michael Weinbach purchased 120,487 shares of the firm’s stock in a transaction that occurred on Monday, June 1st. The stock was bought at an average cost of $33.89 per share, for a total transaction of $4,083,304.43. Following the completion of the purchase, the chief executive officer directly owned 120,487 shares in the company, valued at $4,083,304.43. This represents a ∞ increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Radian Group Price Performance

NYSE:RDN opened at $33.60 on Thursday. The stock has a 50 day moving average of $35.23 and a two-hundred day moving average of $34.69. Radian Group Inc. has a 12 month low of $31.50 and a 12 month high of $38.84. The firm has a market cap of $4.47 billion, a P/E ratio of 8.28, a price-to-earnings-growth ratio of 0.86 and a beta of 0.73. The company has a current ratio of 0.58, a quick ratio of 0.58 and a debt-to-equity ratio of 0.16.

Radian Group (NYSE:RDN) last released its earnings results on Thursday, May 7th. The insurance provider reported $1.27 earnings per share for the quarter, beating the consensus estimate of $1.17 by $0.10. The business had revenue of $466.34 million for the quarter, compared to the consensus estimate of $377.83 million. Radian Group had a return on equity of 13.57% and a net margin of 40.50%.The business’s quarterly revenue was up 46.6% compared to the same quarter last year. During the same quarter last year, the business posted $0.99 earnings per share. On average, analysts expect that Radian Group Inc. will post 5.11 earnings per share for the current fiscal year.

Radian Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 17th. Shareholders of record on Tuesday, June 2nd will be issued a $0.255 dividend. The ex-dividend date is Tuesday, June 2nd. This represents a $1.02 dividend on an annualized basis and a yield of 3.0%. Radian Group’s dividend payout ratio (DPR) is presently 25.12%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on RDN shares. Wall Street Zen raised shares of Radian Group from a “hold” rating to a “buy” rating in a report on Saturday, May 16th. Keefe, Bruyette & Woods upped their price objective on shares of Radian Group from $42.00 to $43.00 and gave the company an “outperform” rating in a research note on Friday, April 10th. Royal Bank Of Canada initiated coverage on shares of Radian Group in a report on Friday, May 22nd. They issued an “outperform” rating and a $47.00 price objective for the company. Barclays raised their target price on shares of Radian Group from $37.00 to $39.00 and gave the stock an “equal weight” rating in a research note on Monday, May 11th. Finally, UBS Group lowered their target price on Radian Group from $41.00 to $39.00 and set a “neutral” rating on the stock in a report on Thursday, March 12th. Five investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, Radian Group presently has an average rating of “Moderate Buy” and an average target price of $42.67.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the company. Parallel Advisors LLC raised its stake in Radian Group by 439.9% during the first quarter. Parallel Advisors LLC now owns 2,262 shares of the insurance provider’s stock worth $75,000 after purchasing an additional 1,843 shares during the period. Segall Bryant & Hamill LLC purchased a new stake in shares of Radian Group in the 1st quarter valued at approximately $338,000. Bank of America Corp DE grew its stake in shares of Radian Group by 26.1% in the 1st quarter. Bank of America Corp DE now owns 758,110 shares of the insurance provider’s stock valued at $25,078,000 after buying an additional 156,770 shares during the period. RBF Capital LLC increased its holdings in shares of Radian Group by 16.7% during the 1st quarter. RBF Capital LLC now owns 140,000 shares of the insurance provider’s stock worth $4,631,000 after buying an additional 20,000 shares during the last quarter. Finally, South Dakota Investment Council increased its holdings in shares of Radian Group by 28.3% during the 1st quarter. South Dakota Investment Council now owns 226,629 shares of the insurance provider’s stock worth $7,497,000 after buying an additional 50,026 shares during the last quarter. Institutional investors and hedge funds own 95.33% of the company’s stock.

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.