Penserra Capital Management LLC Sells 1,946 Shares of Radian Group Inc. (NYSE:RDN)

Posted by Defense World Staff on Feb 27th, 2023

Penserra Capital Management LLC reduced its holdings in Radian Group Inc. (NYSE:RDN – Get Rating) by 13.7% during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 12,234 shares of the insurance provider’s stock after selling 1,946 shares during the quarter. Penserra Capital Management LLC’s holdings in Radian Group were worth $235,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in RDN. Goldman Sachs Group Inc. increased its position in shares of Radian Group by 202.0% during the 2nd quarter. Goldman Sachs Group Inc. now owns 3,295,712 shares of the insurance provider’s stock valued at $64,760,000 after purchasing an additional 2,204,335 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Radian Group by 61.7% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 3,994,265 shares of the insurance provider’s stock valued at $88,713,000 after purchasing an additional 1,523,376 shares during the last quarter. Vanguard Group Inc. increased its position in shares of Radian Group by 8.5% during the 1st quarter. Vanguard Group Inc. now owns 18,357,109 shares of the insurance provider’s stock valued at $407,712,000 after purchasing an additional 1,443,144 shares during the last quarter. Allianz Asset Management GmbH increased its position in shares of Radian Group by 188.7% during the 2nd quarter. Allianz Asset Management GmbH now owns 1,106,604 shares of the insurance provider’s stock valued at $21,744,000 after purchasing an additional 723,323 shares during the last quarter. Finally, Point72 Asset Management L.P. boosted its holdings in Radian Group by 46.5% during the 2nd quarter. Point72 Asset Management L.P. now owns 1,871,920 shares of the insurance provider’s stock valued at $36,783,000 after acquiring an additional 594,520 shares during the period. 94.37% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the company. Royal Bank of Canada increased their target price on Radian Group from $22.00 to $24.00 and gave the company a “sector perform” rating in a report on Friday, February 10th. Roth Capital restated a “buy” rating on shares of Radian Group in a report on Thursday, February 9th. StockNews.com cut Radian Group from a “buy” rating to a “hold” rating in a report on Friday, November 4th. Compass Point cut Radian Group from a “buy” rating to a “neutral” rating and dropped their target price for the company from $28.00 to $22.50 in a report on Tuesday, November 8th. Finally, Bank of America upgraded Radian Group from a “neutral” rating to a “buy” rating and set a $24.00 target price for the company in a report on Thursday, December 15th. Five analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $23.71.

Radian Group Trading Down 1.0 %

NYSE RDN opened at $21.66 on Monday. Radian Group Inc. has a fifty-two week low of $17.83 and a fifty-two week high of $24.84. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.08 and a current ratio of 1.08. The stock has a 50 day simple moving average of $20.68 and a two-hundred day simple moving average of $20.39. The stock has a market cap of $3.40 billion, a P/E ratio of 4.96, a price-to-earnings-growth ratio of 1.41 and a beta of 1.17.

Radian Group (NYSE:RDN – Get Rating) last released its earnings results on Wednesday, February 8th. The insurance provider reported $1.05 EPS for the quarter, beating analysts’ consensus estimates of $0.87 by $0.18. The company had revenue of $314.72 million during the quarter, compared to analysts’ expectations of $312.63 million. Radian Group had a return on equity of 22.55% and a net margin of 62.39%. The firm’s revenue for the quarter was down 7.0% compared to the same quarter last year. During the same quarter last year, the business posted $1.07 EPS. On average, analysts forecast that Radian Group Inc. will post 3.08 earnings per share for the current year.

Radian Group Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 15th. Stockholders of record on Monday, February 27th will be paid a $0.225 dividend. This represents a $0.90 dividend on an annualized basis and a dividend yield of 4.16%. The ex-dividend date is Friday, February 24th. This is a boost from Radian Group’s previous quarterly dividend of $0.20. Radian Group’s dividend payout ratio (DPR) is presently 20.59%.

Radian Group Profile

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Radian Group, Inc is a holding company, which engages in the provision of mortgage insurance, risk management products, and real estate services to financial institutions. It operates through the Mortgage and Real Estate segments. The Mortgage segment offers credit-related insurance coverage, as well as other credit risk management solutions to mortgage lending institutions and mortgage credit investors.