Hsbc Holdings PLC Purchases 16,895 Shares of Radian Group Inc. $RDN

Hsbc Holdings PLC boosted its position in Radian Group Inc. (NYSE:RDN) by 23.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 90,154 shares of the insurance provider’s stock after buying an additional 16,895 shares during the quarter. Hsbc Holdings PLC owned approximately 0.07% of Radian Group worth $3,256,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Norges Bank bought a new stake in shares of Radian Group in the 4th quarter worth approximately $77,364,000. Balyasny Asset Management L.P. lifted its stake in Radian Group by 151.7% in the third quarter. Balyasny Asset Management L.P. now owns 1,873,049 shares of the insurance provider’s stock worth $67,842,000 after purchasing an additional 1,128,852 shares during the last quarter. Donald Smith & CO. Inc. lifted its stake in Radian Group by 43.7% in the fourth quarter. Donald Smith & CO. Inc. now owns 3,012,255 shares of the insurance provider’s stock worth $108,411,000 after purchasing an additional 916,003 shares during the last quarter. Millennium Management LLC boosted its position in Radian Group by 59.7% during the third quarter. Millennium Management LLC now owns 1,007,172 shares of the insurance provider’s stock valued at $36,480,000 after buying an additional 376,533 shares during the period. Finally, Assenagon Asset Management S.A. boosted its position in Radian Group by 125.3% during the fourth quarter. Assenagon Asset Management S.A. now owns 550,634 shares of the insurance provider’s stock valued at $19,817,000 after buying an additional 306,282 shares during the period. 95.33% of the stock is currently owned by institutional investors.

Insider Activity

In other news, Director Noel Joseph Spiegel sold 4,834 shares of the company’s stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $36.19, for a total value of $174,942.46. Following the sale, the director directly owned 20,008 shares of the company’s stock, valued at $724,089.52. This represents a 19.46% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Michael S. Weinbach purchased 49,513 shares of the firm’s stock in a transaction that occurred on Tuesday, June 2nd. The stock was acquired at an average price of $34.04 per share, with a total value of $1,685,422.52. Following the completion of the purchase, the chief executive officer owned 170,000 shares in the company, valued at $5,786,800. This represents a 41.09% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. In the last quarter, insiders have sold 75,516 shares of company stock worth $2,747,576. 2.03% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several research firms have recently commented on RDN. UBS Group decreased their price objective on Radian Group from $41.00 to $39.00 and set a “neutral” rating on the stock in a report on Thursday, March 12th. Bank of America upgraded Radian Group from an “underperform” rating to a “buy” rating and increased their target price for the company from $35.00 to $43.00 in a report on Wednesday, April 29th. Zacks Research lowered 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 stock an “outperform” rating in a research note on Thursday. Finally, Barclays boosted their price objective on Radian Group from $37.00 to $39.00 and gave the company an “equal weight” rating in a research report on Monday, May 11th. Five equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, Radian Group currently has a consensus rating of “Moderate Buy” and a consensus price target of $43.17.

Radian Group Stock Down 0.0%

Shares of NYSE:RDN opened at $37.49 on Monday. The firm has a market capitalization of $4.99 billion, a P/E ratio of 9.23, a P/E/G ratio of 0.94 and a beta of 0.73. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.58 and a current ratio of 0.58. The stock has a 50 day moving average price of $35.66 and a 200-day moving average price of $34.68. Radian Group Inc. has a 52-week low of $31.50 and a 52-week high of $38.84.

Radian Group (NYSE:RDN) last released its quarterly 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 company had revenue of $466.34 million for the quarter, compared to analyst estimates of $377.83 million. Radian Group had a return on equity of 13.57% and a net margin of 40.50%.The firm’s revenue was up 46.6% on a year-over-year basis. During the same period in the previous year, the company posted $0.99 earnings per share. As a group, equities research analysts anticipate that Radian Group Inc. will post 5.17 EPS for the current fiscal year.

Radian Group Dividend Announcement

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

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.