KLP Kapitalforvaltning AS Buys New Position in Radian Group Inc. (NYSE:RDN)

KLP Kapitalforvaltning AS purchased a new position in Radian Group Inc. (NYSE:RDN) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 65,500 shares of the insurance provider’s stock, valued at approximately $2,078,000.

Several other institutional investors and hedge funds have also modified their holdings of RDN. Nordea Investment Management AB raised its holdings in Radian Group by 11.2% in the 4th quarter. Nordea Investment Management AB now owns 195,942 shares of the insurance provider’s stock worth $6,233,000 after purchasing an additional 19,730 shares during the period. Centiva Capital LP bought a new position in shares of Radian Group in the third quarter worth about $512,000. Principal Financial Group Inc. lifted its position in shares of Radian Group by 1.9% during the 4th quarter. Principal Financial Group Inc. now owns 722,402 shares of the insurance provider’s stock valued at $22,915,000 after buying an additional 13,202 shares in the last quarter. First Eagle Investment Management LLC grew its stake in shares of Radian Group by 5.3% during the 4th quarter. First Eagle Investment Management LLC now owns 510,873 shares of the insurance provider’s stock valued at $16,205,000 after acquiring an additional 25,500 shares during the period. Finally, EMC Capital Management increased its holdings in Radian Group by 300.8% in the 4th quarter. EMC Capital Management now owns 18,401 shares of the insurance provider’s stock worth $584,000 after acquiring an additional 13,810 shares in the last quarter. Hedge funds and other institutional investors own 95.33% of the company’s stock.

Radian Group Stock Up 0.8 %

NYSE RDN opened at $33.44 on Friday. The company has a current ratio of 2.87, a quick ratio of 2.01 and a debt-to-equity ratio of 0.50. Radian Group Inc. has a 12 month low of $29.17 and a 12 month high of $37.86. The stock’s 50 day moving average is $32.71 and its 200 day moving average is $33.46. The stock has a market cap of $4.85 billion, a PE ratio of 8.51, a P/E/G ratio of 1.73 and a beta of 1.04.

Radian Group (NYSE:RDN) last released its earnings results on Wednesday, February 5th. The insurance provider reported $1.09 EPS for the quarter, topping the consensus estimate of $0.92 by $0.17. Radian Group had a net margin of 46.85% and a return on equity of 13.96%. Research analysts predict that Radian Group Inc. will post 3.79 EPS for the current fiscal year.

Radian Group Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 11th. Shareholders of record on Monday, February 24th were issued a dividend of $0.255 per share. This represents a $1.02 annualized dividend and a dividend yield of 3.05%. The ex-dividend date was Monday, February 24th. This is an increase from Radian Group’s previous quarterly dividend of $0.25. Radian Group’s dividend payout ratio is 25.95%.

Analyst Ratings Changes

Several equities analysts have weighed in on RDN shares. Keefe, Bruyette & Woods lowered their price target 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. UBS Group lifted their target price on shares of Radian Group from $33.00 to $34.00 and gave the company a “neutral” rating in a research note on Wednesday, February 19th. Three analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, Radian Group currently has an average rating of “Hold” and an average target price of $36.80.

Insider Activity

In related news, Director Gregory Serio sold 4,100 shares of the business’s stock in a transaction on Friday, February 28th. The shares were sold at an average price of $32.65, for a total value of $133,865.00. Following the sale, the director now owns 344 shares in the company, valued at approximately $11,231.60. The trade was a 92.26 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 2.16% of the company’s stock.

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.