Teachers Retirement System of The State of Kentucky Sells 1,500 Shares of Radian Group Inc. (NYSE:RDN)

Teachers Retirement System of The State of Kentucky trimmed its stake in Radian Group Inc. (NYSE:RDN) by 2.8% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 52,139 shares of the insurance provider’s stock after selling 1,500 shares during the quarter. Teachers Retirement System of The State of Kentucky’s holdings in Radian Group were worth $1,809,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in RDN. Assenagon Asset Management S.A. boosted its stake in shares of Radian Group by 272.8% during the 3rd quarter. Assenagon Asset Management S.A. now owns 828,058 shares of the insurance provider’s stock worth $28,725,000 after acquiring an additional 605,956 shares during the period. Point72 Asset Management L.P. boosted its stake in shares of Radian Group by 460.4% during the 2nd quarter. Point72 Asset Management L.P. now owns 660,693 shares of the insurance provider’s stock worth $20,548,000 after acquiring an additional 542,801 shares during the period. American Century Companies Inc. boosted its stake 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 worth $88,136,000 after acquiring an additional 435,751 shares during the period. Healthcare of Ontario Pension Plan Trust Fund bought a new position in shares of Radian Group during the 2nd quarter worth approximately $6,273,000. Finally, Barclays PLC boosted its stake in shares of Radian Group by 218.0% during the 3rd quarter. Barclays PLC now owns 284,463 shares of the insurance provider’s stock worth $9,868,000 after acquiring an additional 194,996 shares during the period. 95.33% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Separately, Barclays lifted their target price on Radian Group from $32.00 to $33.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 8th. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $36.10.

Radian Group Stock Performance

NYSE:RDN opened at $33.70 on Tuesday. The stock has a market cap of $5.02 billion, a P/E ratio of 8.73, a PEG ratio of 1.69 and a beta of 1.04. The stock has a 50 day simple moving average of $34.39 and a 200 day simple moving average of $33.95. The company has a current ratio of 2.01, a quick ratio of 2.01 and a debt-to-equity ratio of 0.42. Radian Group Inc. has a 1-year low of $26.11 and a 1-year high of $37.86.

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

Radian Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Investors of record on Monday, November 25th were issued a dividend of $0.245 per share. The ex-dividend date of this dividend was Monday, November 25th. This represents a $0.98 annualized dividend and a yield of 2.91%. Radian Group’s payout ratio is currently 25.39%.

Insider Buying and Selling at Radian Group

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

Radian Group 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.