573,303 Shares in Radian Group Inc. (NYSE:RDN) Bought by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. bought a new position in Radian Group Inc. (NYSE:RDN) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 573,303 shares of the insurance provider’s stock, valued at approximately $16,368,000. Assenagon Asset Management S.A. owned 0.37% of Radian Group at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Comerica Bank raised its position in shares of Radian Group by 5,573.5% in the 3rd quarter. Comerica Bank now owns 222,287 shares of the insurance provider’s stock worth $5,582,000 after buying an additional 218,369 shares during the period. Tudor Investment Corp Et Al acquired a new stake in Radian Group in the 3rd quarter valued at $6,735,000. Los Angeles Capital Management LLC increased its holdings in Radian Group by 174.5% in the 3rd quarter. Los Angeles Capital Management LLC now owns 27,864 shares of the insurance provider’s stock valued at $700,000 after purchasing an additional 17,713 shares in the last quarter. Panagora Asset Management Inc. increased its holdings in Radian Group by 5.3% in the 3rd quarter. Panagora Asset Management Inc. now owns 39,745 shares of the insurance provider’s stock valued at $998,000 after purchasing an additional 2,001 shares in the last quarter. Finally, Invesco Ltd. increased its holdings in Radian Group by 0.6% in the 3rd quarter. Invesco Ltd. now owns 1,536,521 shares of the insurance provider’s stock valued at $38,582,000 after purchasing an additional 9,011 shares in the last quarter. 95.33% of the stock is owned by hedge funds and other institutional investors.

Radian Group Stock Performance

Shares of NYSE RDN opened at $33.25 on Thursday. The company has a quick ratio of 1.65, a current ratio of 1.65 and a debt-to-equity ratio of 0.35. The firm’s 50-day moving average price is $29.50 and its two-hundred day moving average price is $27.60. Radian Group Inc. has a 52-week low of $21.22 and a 52-week high of $33.29. The stock has a market capitalization of $5.04 billion, a P/E ratio of 8.79, a P/E/G ratio of 2.00 and a beta of 1.01.

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

Radian Group Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 12th. Shareholders of record on Monday, February 26th were issued a $0.245 dividend. The ex-dividend date was Friday, February 23rd. This represents a $0.98 dividend on an annualized basis and a yield of 2.95%. This is a boost from Radian Group’s previous quarterly dividend of $0.23. Radian Group’s dividend payout ratio (DPR) is currently 25.93%.

Analyst Ratings Changes

Several brokerages recently issued reports on RDN. UBS Group began coverage on Radian Group in a report on Wednesday, December 6th. They issued a “neutral” rating and a $28.00 price target for the company. Keefe, Bruyette & Woods upgraded Radian Group from a “market perform” rating to an “outperform” rating and set a $29.00 target price for the company in a research note on Wednesday, December 13th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, Radian Group has an average rating of “Hold” and a consensus target price of $28.60.

Radian Group Company 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.