Assenagon Asset Management S.A. Boosts Holdings in Radian Group Inc. (NYSE:RDN)

Assenagon Asset Management S.A. raised its stake in Radian Group Inc. (NYSE:RDN) by 23.3% during the fourth quarter, Holdings Channel reports. The fund owned 1,020,912 shares of the insurance provider’s stock after buying an additional 192,854 shares during the period. Assenagon Asset Management S.A.’s holdings in Radian Group were worth $32,383,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently modified their holdings of RDN. V Square Quantitative Management LLC bought a new stake in shares of Radian Group in the 3rd quarter worth approximately $27,000. Blue Trust Inc. raised its stake in shares of Radian Group by 352.4% in the third quarter. Blue Trust Inc. now owns 2,502 shares of the insurance provider’s stock valued at $87,000 after buying an additional 1,949 shares during the period. Cubist Systematic Strategies LLC purchased a new position in shares of Radian Group during the 2nd quarter valued at $116,000. KBC Group NV lifted its position in shares of Radian Group by 19.0% during the 3rd quarter. KBC Group NV now owns 4,481 shares of the insurance provider’s stock valued at $155,000 after buying an additional 716 shares during the last quarter. Finally, Forum Financial Management LP bought a new position in shares of Radian Group during the 3rd quarter worth $201,000. 95.33% of the stock is owned by institutional investors.

Insider Activity

In other Radian Group news, insider Derek Brummer sold 14,705 shares of the company’s stock in a transaction dated Thursday, December 5th. The stock was sold at an average price of $34.65, for a total value of $509,528.25. Following the transaction, the insider now directly owns 171,830 shares in the company, valued at $5,953,909.50. This represents a 7.88 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 2.16% of the company’s stock.

Radian Group Stock Performance

Shares of RDN opened at $33.13 on Friday. The company has a debt-to-equity ratio of 0.42, a quick ratio of 2.01 and a current ratio of 2.01. The stock has a market capitalization of $4.93 billion, a price-to-earnings ratio of 8.58, a price-to-earnings-growth ratio of 1.66 and a beta of 1.06. Radian Group Inc. has a 52-week low of $26.11 and a 52-week high of $37.86. The stock’s 50-day simple moving average is $33.29 and its 200 day simple moving average is $34.07.

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

Radian Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders of record on Monday, November 25th were issued a $0.245 dividend. This represents a $0.98 annualized dividend and a yield of 2.96%. The ex-dividend date was Monday, November 25th. Radian Group’s payout ratio is 25.39%.

Analyst Ratings Changes

Several research firms have commented on RDN. Keefe, Bruyette & Woods dropped their price objective on shares of Radian Group from $41.00 to $40.00 and set an “outperform” rating on the stock in a report on Wednesday, January 8th. Barclays boosted their price target on shares of Radian Group from $32.00 to $33.00 and gave the company an “equal weight” rating in a research report on Tuesday, October 8th. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $36.30.

Radian Group Company Profile

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.