Raymond James Financial Services Advisors Inc. Reduces Holdings in Radian Group Inc (NYSE:RDN)

Raymond James Financial Services Advisors Inc. lessened its stake in shares of Radian Group Inc (NYSE:RDN) by 6.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 63,969 shares of the insurance provider’s stock after selling 4,414 shares during the quarter. Raymond James Financial Services Advisors Inc.’s holdings in Radian Group were worth $1,327,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. AdvisorNet Financial Inc purchased a new position in Radian Group in the 4th quarter worth $33,000. Toronto Dominion Bank purchased a new position in Radian Group in the 4th quarter worth $52,000. Bank of Montreal Can raised its stake in shares of Radian Group by 22.7% during the 4th quarter. Bank of Montreal Can now owns 8,422 shares of the insurance provider’s stock valued at $138,000 after buying an additional 1,557 shares during the last quarter. Actinver Wealth Management Inc. purchased a new position in shares of Radian Group during the 4th quarter valued at about $169,000. Finally, Sun Life Financial INC raised its stake in shares of Radian Group by 4.5% during the 4th quarter. Sun Life Financial INC now owns 14,356 shares of the insurance provider’s stock valued at $235,000 after buying an additional 614 shares during the last quarter. 94.03% of the stock is currently owned by institutional investors and hedge funds.

Shares of Radian Group stock traded up $0.12 on Friday, hitting $22.85. 2,447,461 shares of the company were exchanged, compared to its average volume of 1,352,693. Radian Group Inc has a 1-year low of $14.77 and a 1-year high of $24.62. The stock has a market cap of $4.68 billion, a PE ratio of 8.49, a price-to-earnings-growth ratio of 1.58 and a beta of 1.56. The stock’s 50-day moving average is $22.86. The company has a quick ratio of 1.87, a current ratio of 1.87 and a debt-to-equity ratio of 0.28.

Radian Group (NYSE:RDN) last released its quarterly earnings data on Tuesday, April 30th. The insurance provider reported $0.73 EPS for the quarter, beating analysts’ consensus estimates of $0.68 by $0.05. The firm had revenue of $363.63 million for the quarter, compared to analysts’ expectations of $342.44 million. Radian Group had a return on equity of 17.82% and a net margin of 49.25%. The firm’s quarterly revenue was up 24.7% on a year-over-year basis. During the same period in the prior year, the firm posted $0.59 earnings per share. As a group, sell-side analysts predict that Radian Group Inc will post 2.86 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Friday, June 7th. Shareholders of record on Monday, May 27th were given a $0.0025 dividend. This represents a $0.01 dividend on an annualized basis and a yield of 0.04%. The ex-dividend date of this dividend was Thursday, May 23rd. Radian Group’s payout ratio is 0.37%.

A number of equities analysts have weighed in on the company. Zacks Investment Research upgraded Radian Group from a “sell” rating to a “hold” rating in a research note on Wednesday, April 17th. Barclays restated a “buy” rating and issued a $27.00 price target on shares of Radian Group in a research note on Monday. Compass Point restated a “buy” rating and issued a $30.00 price target (up previously from $26.50) on shares of Radian Group in a research note on Thursday, May 2nd. MKM Partners lifted their price target on Radian Group to $30.00 and gave the company a “buy” rating in a research note on Thursday, May 2nd. Finally, Bank of America restated a “buy” rating and issued a $27.00 price target (up previously from $23.00) on shares of Radian Group in a research note on Wednesday, May 1st. One research analyst has rated the stock with a sell rating, three have issued a hold rating and four have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $25.57.

About Radian Group

Radian Group Inc, through its subsidiaries, engages in the mortgage and real estate services business in the United States. It operates in two segments, Mortgage Insurance and Services. The Mortgage Insurance segment offers credit-related insurance coverage, primarily through private mortgage insurance on residential first-lien mortgage loans, as well as other credit risk management solutions to mortgage lending institutions and mortgage credit investors.

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

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