Innealta Capital LLC Trims Stock Position in Radian Group Inc. (NYSE:RDN)

Innealta Capital LLC reduced its stake in shares of Radian Group Inc. (NYSE:RDN) by 9.9% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 8,918 shares of the insurance provider’s stock after selling 984 shares during the quarter. Innealta Capital LLC’s holdings in Radian Group were worth $295,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in RDN. Picton Mahoney Asset Management boosted its holdings in shares of Radian Group by 54.3% during the 4th quarter. Picton Mahoney Asset Management now owns 972 shares of the insurance provider’s stock valued at $31,000 after buying an additional 342 shares in the last quarter. Covestor Ltd boosted its holdings in shares of Radian Group by 35.6% during the 4th quarter. Covestor Ltd now owns 1,351 shares of the insurance provider’s stock valued at $43,000 after buying an additional 355 shares in the last quarter. Smartleaf Asset Management LLC boosted its holdings in shares of Radian Group by 124.8% during the 4th quarter. Smartleaf Asset Management LLC now owns 2,378 shares of the insurance provider’s stock valued at $75,000 after buying an additional 1,320 shares in the last quarter. Jones Financial Companies Lllp boosted its holdings in shares of Radian Group by 735.8% during the 4th quarter. Jones Financial Companies Lllp now owns 2,407 shares of the insurance provider’s stock valued at $76,000 after buying an additional 2,119 shares in the last quarter. Finally, Quantbot Technologies LP bought a new stake in shares of Radian Group during the 4th quarter valued at $127,000. 95.33% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Radian Group

In other Radian Group news, EVP Edward J. Hoffman sold 10,000 shares of the company’s stock in a transaction dated Wednesday, June 11th. The shares were sold at an average price of $34.00, for a total transaction of $340,000.00. Following the transaction, the executive vice president now owns 191,586 shares in the company, valued at approximately $6,513,924. This represents a 4.96% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Howard Bernard Culang sold 8,773 shares of the company’s stock in a transaction dated Friday, June 6th. The shares were sold at an average price of $33.37, for a total transaction of $292,755.01. Following the transaction, the director now owns 8,050 shares in the company, valued at $268,628.50. This represents a 52.15% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 66,378 shares of company stock worth $2,224,414. Company insiders own 2.01% of the company’s stock.

Analyst Ratings Changes

RDN has been the topic of a number of research reports. Keefe, Bruyette & Woods restated an “outperform” rating and set a $38.00 target price (up previously from $37.00) on shares of Radian Group in a report on Friday, May 2nd. Compass Point cut shares of Radian Group from a “strong-buy” rating to a “hold” rating in a report on Friday, May 23rd. Finally, UBS Group boosted their target price on shares of Radian Group from $34.00 to $36.00 and gave the company a “neutral” rating in a report on Monday, May 5th. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $36.83.

Radian Group Stock Performance

Shares of Radian Group stock opened at $34.93 on Friday. The stock has a market cap of $4.69 billion, a price-to-earnings ratio of 8.89 and a beta of 0.71. The firm’s 50-day moving average is $33.33 and its 200 day moving average is $32.81. Radian Group Inc. has a 1 year low of $29.32 and a 1 year high of $37.86. The company has a debt-to-equity ratio of 0.52, a current ratio of 3.44 and a quick ratio of 3.44.

Radian Group (NYSE:RDN) last announced its quarterly earnings results on Wednesday, April 30th. The insurance provider reported $0.99 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.95 by $0.04. The company had revenue of $318.11 million for the quarter, compared to analysts’ expectations of $326.99 million. Radian Group had a net margin of 46.29% and a return on equity of 13.54%. Radian Group’s revenue was down .4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.03 EPS. Sell-side analysts anticipate that Radian Group Inc. will post 3.79 EPS for the current fiscal year.

Radian Group announced that its board has approved a stock buyback plan on Wednesday, May 21st that allows the company to buyback $750.00 million in shares. This buyback authorization allows the insurance provider to buy up to 16.9% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s leadership believes its shares are undervalued.

Radian Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 17th. Shareholders of record on Monday, June 2nd were paid a dividend of $0.255 per share. This represents a $1.02 annualized dividend and a yield of 2.92%. The ex-dividend date was Monday, June 2nd. Radian Group’s dividend payout ratio is currently 25.95%.

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.