PNC Financial Services Group Inc. lowered its position in shares of Radian Group Inc. (NYSE:RDN) by 17.8% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 14,519 shares of the company’s stock after selling 3,137 shares during the period. PNC Financial Services Group Inc.’s holdings in Radian Group were worth $151,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Fox Run Management L.L.C. purchased a new stake in shares of Radian Group during the second quarter worth $126,000. Genesee Valley Trust Co. increased its stake in shares of Radian Group by 2.3% in the second quarter. Genesee Valley Trust Co. now owns 12,216 shares of the company’s stock worth $127,000 after buying an additional 274 shares in the last quarter. Calvert Investment Management Inc. purchased a new stake in shares of Radian Group during the second quarter worth $172,000. Strs Ohio increased its stake in shares of Radian Group by 22.8% in the second quarter. Strs Ohio now owns 18,300 shares of the company’s stock worth $190,000 after buying an additional 3,400 shares in the last quarter. Finally, Virginia Retirement System purchased a new stake in shares of Radian Group during the first quarter worth $284,000. Institutional investors own 93.38% of the company’s stock.
Radian Group Inc. (NYSE:RDN) traded down 0.60% during midday trading on Friday, hitting $13.19. The stock had a trading volume of 1,331,043 shares. The stock has a market capitalization of $2.83 billion, a PE ratio of 9.89 and a beta of 2.01. The stock’s 50-day moving average is $13.62 and its 200-day moving average is $12.35. Radian Group Inc. has a 1-year low of $9.29 and a 1-year high of $17.00.
Radian Group (NYSE:RDN) last announced its quarterly earnings results on Thursday, July 28th. The company reported $0.38 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.38. Radian Group had a return on equity of 12.64% and a net margin of 25.42%. The business earned $330.20 million during the quarter, compared to the consensus estimate of $224.68 million. During the same quarter in the prior year, the company posted $0.40 earnings per share. On average, equities research analysts anticipate that Radian Group Inc. will post $1.54 EPS for the current fiscal year.
RDN has been the topic of a number of analyst reports. BTIG Research reiterated a “buy” rating and issued a $22.00 price target on shares of Radian Group in a research report on Wednesday, July 6th. Zacks Investment Research upgraded shares of Radian Group from a “hold” rating to a “buy” rating and set a $10.00 price target on the stock in a research report on Tuesday, June 28th. TheStreet upgraded shares of Radian Group from a “hold” rating to a “buy” rating in a research report on Thursday, August 11th. Finally, FBR & Co reiterated a “market perform” rating and issued a $14.00 price target on shares of Radian Group in a research report on Wednesday, June 15th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and nine have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $17.00.
In related news, EVP Derek Brummer purchased 16,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 10th. The stock was acquired at an average price of $12.87 per share, for a total transaction of $205,920.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 1.83% of the company’s stock.
About Radian Group
Radian Group Inc is a holding company that provides mortgage insurance, and products and services to the real estate and mortgage finance industries. The Company operates in two segments: Mortgage Insurance and Services. The Mortgage Insurance segment provides credit-related insurance coverage, principally through private mortgage insurance to mortgage lending institutions.
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