Assenagon Asset Management S.A. Sells 314,473 Shares of Radian Group Inc. $RDN

Assenagon Asset Management S.A. lowered its holdings in shares of Radian Group Inc. (NYSE:RDN) by 57.1% in the first quarter, Holdings Channel.com reports. The institutional investor owned 236,161 shares of the insurance provider’s stock after selling 314,473 shares during the period. Assenagon Asset Management S.A.’s holdings in Radian Group were worth $7,812,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the business. 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 boosted its position in Radian Group by 5.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 5,717,423 shares of the insurance provider’s stock valued at $205,773,000 after buying an additional 274,222 shares in the last quarter. American Century Companies Inc. grew its stake in shares of Radian Group by 4.4% during the third quarter. American Century Companies Inc. now owns 4,019,483 shares of the insurance provider’s stock worth $145,586,000 after buying an additional 171,049 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. Finally, Balyasny Asset Management L.P. increased its holdings 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 in the last quarter. 95.33% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on RDN shares. Barclays increased their price target on Radian Group from $37.00 to $39.00 and gave the company an “equal weight” rating in a research note on Monday, May 11th. Bank of America raised Radian Group from an “underperform” rating to a “buy” rating and upped their target price for the stock from $35.00 to $43.00 in a report on Wednesday, April 29th. Keefe, Bruyette & Woods increased their target price on Radian Group from $43.00 to $46.00 and gave the company an “outperform” rating in a research report on Thursday. Wall Street Zen raised Radian Group from a “hold” rating to a “buy” rating in a research note on Saturday. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Radian Group in a report on Tuesday, June 16th. Five equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, Radian Group currently has an average rating of “Moderate Buy” and a consensus price target of $43.17.

Insider Buying and Selling

In related news, EVP Edward J. Hoffman sold 15,000 shares of Radian Group stock in a transaction that occurred on Friday, May 8th. The stock was sold at an average price of $38.00, for a total value of $570,000.00. Following the transaction, the executive vice president directly owned 93,708 shares of the company’s stock, valued at $3,560,904. The trade was a 13.80% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Noel Joseph Spiegel sold 4,834 shares of the company’s stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $36.19, for a total value of $174,942.46. Following the completion of the sale, the director owned 20,008 shares in the company, valued at $724,089.52. The trade was a 19.46% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 75,516 shares of company stock valued at $2,747,576. Corporate insiders own 2.03% of the company’s stock.

Radian Group Price Performance

Shares of NYSE:RDN opened at $37.49 on Monday. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.58 and a current ratio of 0.58. Radian Group Inc. has a 52 week low of $31.50 and a 52 week high of $38.84. The firm has a market cap of $4.99 billion, a PE ratio of 9.23, a price-to-earnings-growth ratio of 0.94 and a beta of 0.73. The firm’s fifty day moving average is $35.66 and its 200-day moving average is $34.68.

Radian Group (NYSE:RDN) last posted its quarterly earnings data on Thursday, May 7th. The insurance provider reported $1.27 earnings per share for the quarter, beating analysts’ consensus estimates of $1.17 by $0.10. The business had revenue of $466.34 million during 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%.Radian Group’s quarterly revenue was up 46.6% on a year-over-year basis. During the same period in the prior year, the business posted $0.99 earnings per share. Sell-side analysts predict that Radian Group Inc. will post 5.17 earnings per share for the current year.

Radian Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 17th. Stockholders of record on Tuesday, June 2nd were paid a $0.255 dividend. The ex-dividend date of this dividend was Tuesday, June 2nd. This represents a $1.02 annualized dividend and a dividend yield of 2.7%. Radian Group’s dividend payout ratio is presently 25.12%.

Radian Group Company 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.