Sumitomo Mitsui DS Asset Management Company Ltd Takes Position in Radian Group Inc. (NYSE:RDN)

Sumitomo Mitsui DS Asset Management Company Ltd bought a new stake in Radian Group Inc. (NYSE:RDNFree Report) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 592,573 shares of the insurance provider’s stock, valued at approximately $16,918,000. Sumitomo Mitsui DS Asset Management Company Ltd owned 0.39% of Radian Group at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in RDN. Raymond James & Associates boosted its stake in shares of Radian Group by 14.8% in the first quarter. Raymond James & Associates now owns 18,972 shares of the insurance provider’s stock valued at $421,000 after purchasing an additional 2,445 shares during the period. Raymond James Financial Services Advisors Inc. boosted its stake in Radian Group by 2.8% during the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 56,712 shares of the insurance provider’s stock valued at $1,260,000 after acquiring an additional 1,548 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in Radian Group by 0.4% during the 1st quarter. Bank of New York Mellon Corp now owns 1,488,800 shares of the insurance provider’s stock valued at $33,067,000 after acquiring an additional 6,479 shares during the last quarter. MetLife Investment Management LLC boosted its stake in Radian Group by 57.0% during the 1st quarter. MetLife Investment Management LLC now owns 94,871 shares of the insurance provider’s stock valued at $2,107,000 after acquiring an additional 34,432 shares during the last quarter. Finally, Great West Life Assurance Co. Can boosted its stake in Radian Group by 854.0% during the 1st quarter. Great West Life Assurance Co. Can now owns 96,124 shares of the insurance provider’s stock valued at $2,271,000 after acquiring an additional 86,048 shares during the last quarter. 95.33% of the stock is currently owned by hedge funds and other institutional investors.

Radian Group Stock Performance

Shares of NYSE:RDN traded up $0.37 on Friday, reaching $29.66. 909,753 shares of the company’s stock were exchanged, compared to its average volume of 911,270. The firm has a market capitalization of $4.49 billion, a price-to-earnings ratio of 7.85, a PEG ratio of 1.82 and a beta of 1.02. Radian Group Inc. has a fifty-two week low of $22.93 and a fifty-two week high of $33.69. The business’s 50-day moving average is $30.28 and its two-hundred day moving average is $28.26. The company has a quick ratio of 1.65, a current ratio of 1.65 and a debt-to-equity ratio of 0.35.

Radian Group (NYSE:RDNGet Free Report) last issued its earnings results on Wednesday, February 7th. The insurance provider reported $0.96 earnings per share for the quarter, topping analysts’ consensus estimates of $0.86 by $0.10. The company had revenue of $328.64 million for the quarter, compared to analysts’ expectations of $319.04 million. Radian Group had a net margin of 48.51% and a return on equity of 14.75%. The firm’s revenue was up 4.4% compared to the same quarter last year. During the same period in the prior year, the company earned $1.05 earnings per share. As a group, equities research analysts forecast that Radian Group Inc. will post 3.27 EPS for the current year.

Radian Group Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 12th. Investors of record on Monday, February 26th were issued a $0.245 dividend. This represents a $0.98 dividend on an annualized basis and a dividend yield of 3.30%. The ex-dividend date was Friday, February 23rd. This is a boost from Radian Group’s previous quarterly dividend of $0.23. Radian Group’s dividend payout ratio (DPR) is 25.93%.

Wall Street Analyst Weigh In

Separately, Keefe, Bruyette & Woods reiterated a “market perform” rating and set a $35.00 price objective (down from $36.00) on shares of Radian Group in a research note on Thursday, April 4th. One research analyst has rated the stock with a sell rating and five have assigned a hold rating to the company’s stock. According to MarketBeat, Radian Group has an average rating of “Hold” and an average target price of $30.00.

Read Our Latest Report on RDN

Radian Group Profile

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Radian Group (NYSE:RDN)

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