Concert Wealth Management Inc. decreased its position in Radian Group Inc. (NYSE:RDN) by 4.7% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 27,876 shares of the company’s stock after selling 1,364 shares during the period. Concert Wealth Management Inc.’s holdings in Radian Group were worth $286,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of RDN. Capital Returns Management LLC purchased a new position in Radian Group during the first quarter worth $21,076,000. Teachers Advisors Inc. increased its position in Radian Group by 193.9% in the first quarter. Teachers Advisors Inc. now owns 1,426,969 shares of the company’s stock worth $17,694,000 after buying an additional 941,411 shares during the period. State Street Corp increased its position in Radian Group by 11.6% in the first quarter. State Street Corp now owns 6,701,250 shares of the company’s stock worth $83,095,000 after buying an additional 699,185 shares during the period. Prudential Financial Inc. increased its position in Radian Group by 83.4% in the first quarter. Prudential Financial Inc. now owns 986,217 shares of the company’s stock worth $12,229,000 after buying an additional 448,500 shares during the period. Finally, AXA increased its position in Radian Group by 47.5% in the first quarter. AXA now owns 1,009,100 shares of the company’s stock worth $12,513,000 after buying an additional 324,890 shares during the period. 93.38% of the stock is currently owned by institutional investors and hedge funds.
Radian Group Inc. (NYSE:RDN) traded up 0.73% during trading on Friday, hitting $13.74. The stock had a trading volume of 1,873,021 shares. The stock’s 50-day moving average price is $13.62 and its 200-day moving average price is $12.41. Radian Group Inc. has a 1-year low of $9.29 and a 1-year high of $16.86. The company has a market capitalization of $2.95 billion, a P/E ratio of 10.30 and a beta of 2.01.
Radian Group (NYSE:RDN) last issued its quarterly earnings data on Thursday, July 28th. The company reported $0.38 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.38. Radian Group had a net margin of 25.42% and a return on equity of 12.64%. The business earned $330.20 million during the quarter, compared to analyst estimates of $224.68 million. During the same period last year, the business posted $0.40 earnings per share. Analysts expect that Radian Group Inc. will post $1.54 earnings per share for the current year.
A number of research analysts recently weighed in on RDN shares. BTIG Research reaffirmed a “buy” rating and set a $22.00 price target on shares of Radian Group in a research note on Wednesday, July 6th. TheStreet raised Radian Group from a “hold” rating to a “buy” rating in a research note on Thursday, August 11th. Zacks Investment Research downgraded Radian Group from a “hold” rating to a “sell” rating in a research note on Wednesday, September 21st. Finally, FBR & Co boosted their price objective on Radian Group from $14.00 to $16.00 and gave the stock an “outperform” rating in a report on Friday, July 29th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and nine have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $16.75.
In related news, EVP Derek Brummer acquired 16,000 shares of the stock in a transaction on Wednesday, August 10th. The stock was acquired at an average cost of $12.87 per share, for a total transaction of $205,920.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 1.83% of the stock is currently owned by company insiders.
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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