CIBC Asset Management Inc Buys 1,418 Shares of Radian Group Inc. (NYSE:RDN)

CIBC Asset Management Inc increased its position in Radian Group Inc. (NYSE:RDN) by 16.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 10,193 shares of the insurance provider’s stock after acquiring an additional 1,418 shares during the quarter. CIBC Asset Management Inc’s holdings in Radian Group were worth $323,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in the business. Blue Trust Inc. boosted its holdings in Radian Group by 352.4% in the 3rd quarter. Blue Trust Inc. now owns 2,502 shares of the insurance provider’s stock valued at $87,000 after purchasing an additional 1,949 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of Radian Group by 10.1% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 91,818 shares of the insurance provider’s stock valued at $3,197,000 after purchasing an additional 8,439 shares in the last quarter. DekaBank Deutsche Girozentrale grew its stake in Radian Group by 4.2% during the third quarter. DekaBank Deutsche Girozentrale now owns 133,340 shares of the insurance provider’s stock worth $4,553,000 after buying an additional 5,392 shares during the last quarter. First Trust Direct Indexing L.P. increased its holdings in Radian Group by 9.9% during the 3rd quarter. First Trust Direct Indexing L.P. now owns 7,200 shares of the insurance provider’s stock valued at $250,000 after purchasing an additional 650 shares in the last quarter. Finally, Farther Finance Advisors LLC raised its holdings in shares of Radian Group by 1,767.2% in the third quarter. Farther Finance Advisors LLC now owns 12,977 shares of the insurance provider’s stock valued at $450,000 after buying an additional 12,282 shares during the last quarter. Institutional investors and hedge funds own 95.33% of the company’s stock.

Radian Group Stock Performance

Shares of RDN opened at $32.44 on Monday. The firm has a market cap of $4.71 billion, a P/E ratio of 8.25, a PEG ratio of 1.73 and a beta of 1.06. Radian Group Inc. has a twelve month low of $27.20 and a twelve month high of $37.86. The firm’s 50 day moving average price is $32.65 and its two-hundred day moving average price is $33.95. The company has a debt-to-equity ratio of 0.50, a quick ratio of 2.01 and a current ratio of 2.87.

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

Radian Group Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 11th. Stockholders of record on Monday, February 24th will be paid a dividend of $0.255 per share. This is a boost from Radian Group’s previous quarterly dividend of $0.25. This represents a $1.02 annualized dividend and a dividend yield of 3.14%. The ex-dividend date of this dividend is Monday, February 24th. Radian Group’s dividend payout ratio (DPR) is currently 24.94%.

Analysts Set New Price Targets

RDN has been the topic of a number of recent research reports. UBS Group increased their price objective on Radian Group from $33.00 to $34.00 and gave the company a “neutral” rating in a research report on Wednesday, February 19th. Keefe, Bruyette & Woods dropped their price objective on Radian Group from $41.00 to $40.00 and set an “outperform” rating on the stock in a research note on Wednesday, January 8th. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, Radian Group presently has an average rating of “Hold” and a consensus price target of $36.80.

Insider Activity

In related news, insider Derek Brummer sold 14,705 shares of Radian Group stock in a transaction dated Thursday, December 5th. The stock was sold at an average price of $34.65, for a total value of $509,528.25. Following the sale, the insider now owns 171,830 shares of the company’s stock, valued at approximately $5,953,909.50. The trade was a 7.88 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.16% of the stock is owned by corporate insiders.

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.