Moran Wealth Management LLC Buys New Position in Radian Group Inc. (NYSE:RDN)

Moran Wealth Management LLC purchased a new position in Radian Group Inc. (NYSE:RDN) in the third quarter, according to its most recent disclosure with the SEC. The institutional investor purchased 76,394 shares of the insurance provider’s stock, valued at approximately $2,650,000. Moran Wealth Management LLC owned 0.05% of Radian Group at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Vanguard Group Inc. lifted its position in Radian Group by 0.3% in the first quarter. Vanguard Group Inc. now owns 20,439,073 shares of the insurance provider’s stock worth $684,096,000 after purchasing an additional 69,383 shares during the period. Dimensional Fund Advisors LP boosted its stake in Radian Group by 1.6% during the second quarter. Dimensional Fund Advisors LP now owns 5,542,344 shares of the insurance provider’s stock valued at $172,365,000 after buying an additional 89,363 shares in the last quarter. Thrivent Financial for Lutherans raised its position in Radian Group by 0.8% in the second quarter. Thrivent Financial for Lutherans now owns 3,133,020 shares of the insurance provider’s stock worth $97,437,000 after acquiring an additional 25,862 shares in the last quarter. American Century Companies Inc. boosted its position in shares of Radian Group by 18.2% during the 2nd quarter. American Century Companies Inc. now owns 2,833,950 shares of the insurance provider’s stock valued at $88,136,000 after purchasing an additional 435,751 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its stake in shares of Radian Group by 0.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,927,201 shares of the insurance provider’s stock worth $59,936,000 after purchasing an additional 6,588 shares during the last quarter. 95.33% of the stock is currently owned by institutional investors.

Radian Group Stock Performance

Shares of Radian Group stock opened at $34.02 on Friday. The stock has a market cap of $5.07 billion, a PE ratio of 8.81, a price-to-earnings-growth ratio of 1.70 and a beta of 1.04. Radian Group Inc. has a 12 month low of $24.92 and a 12 month high of $37.86. The company has a quick ratio of 2.01, a current ratio of 2.01 and a debt-to-equity ratio of 0.42. The business has a fifty day simple moving average of $34.44 and a 200-day simple moving average of $33.50.

Radian Group (NYSE:RDN) last issued its earnings results on Wednesday, November 6th. The insurance provider reported $1.03 earnings per share for the quarter, beating analysts’ consensus estimates of $0.88 by $0.15. The company had revenue of $319.05 million for the quarter, compared to the consensus estimate of $320.30 million. Radian Group had a return on equity of 13.81% and a net margin of 45.96%. On average, sell-side analysts anticipate that Radian Group Inc. will post 4 EPS for the current fiscal year.

Radian Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Monday, November 25th will be issued a dividend of $0.245 per share. This represents a $0.98 annualized dividend and a dividend yield of 2.88%. The ex-dividend date of this dividend is Monday, November 25th. Radian Group’s dividend payout ratio is currently 25.39%.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on RDN. Barclays lifted their price target on shares of Radian Group from $32.00 to $33.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 8th. Royal Bank of Canada upped their target price on Radian Group from $32.00 to $37.00 and gave the company a “sector perform” rating in a report on Friday, August 2nd. Keefe, Bruyette & Woods lifted their price target on Radian Group from $36.00 to $39.00 and gave the stock an “outperform” rating in a research note on Monday, August 5th. Finally, Roth Mkm boosted their price objective on Radian Group from $35.00 to $40.00 and gave the stock a “buy” rating in a report on Friday, August 2nd. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, Radian Group currently has a consensus rating of “Hold” and an average price target of $36.10.

Insider Transactions at Radian Group

In other Radian Group news, EVP Eric Ray sold 53,791 shares of Radian Group stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $35.67, for a total value of $1,918,724.97. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Derek Brummer sold 35,153 shares of the stock in a transaction on Thursday, September 5th. The stock was sold at an average price of $35.36, for a total transaction of $1,243,010.08. Following the transaction, the insider now owns 186,535 shares in the company, valued at approximately $6,595,877.60. This trade represents a 15.86 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 115,955 shares of company stock valued at $4,130,140. 2.16% of the stock is owned by insiders.

About Radian Group

Radian Group Inc, together with its subsidiaries, engages in the mortgage and real estate services business in the United States. It operates through two segments, Mortgage Insurance and Homegenius segments. The Mortgage Insurance segment aggregates, manages, and distributes U.S. mortgage credit risk for mortgage lending institutions and mortgage credit investors, through private mortgage insurance on residential first-lien mortgage loans; and other credit risk management solutions, including contract underwriting.