Teacher Retirement System of Texas Decreases Position in Radian Group Inc. (NYSE:RDN)

Posted by Defense World Staff on Jun 8th, 2023

Teacher Retirement System of Texas lessened its position in Radian Group Inc. (NYSE:RDN – Get Rating) by 7.6% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 80,193 shares of the insurance provider’s stock after selling 6,577 shares during the period. Teacher Retirement System of Texas owned 0.05% of Radian Group worth $1,529,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. Vanguard Group Inc. grew its holdings in Radian Group by 1.9% in the 3rd quarter. Vanguard Group Inc. now owns 19,747,171 shares of the insurance provider’s stock worth $380,922,000 after acquiring an additional 367,187 shares during the last quarter. State Street Corp boosted its stake in shares of Radian Group by 2.4% during the 3rd quarter. State Street Corp now owns 5,182,954 shares of the insurance provider’s stock valued at $99,979,000 after purchasing an additional 123,713 shares in the last quarter. Thrivent Financial for Lutherans boosted its stake in shares of Radian Group by 1.2% during the 4th quarter. Thrivent Financial for Lutherans now owns 4,368,978 shares of the insurance provider’s stock valued at $83,317,000 after purchasing an additional 50,886 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake 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 in the last quarter. Finally, Donald Smith & CO. Inc. boosted its stake in shares of Radian Group by 9.2% during the 4th quarter. Donald Smith & CO. Inc. now owns 3,518,961 shares of the insurance provider’s stock valued at $67,107,000 after purchasing an additional 295,221 shares in the last quarter. Institutional investors own 94.37% of the company’s stock.

Radian Group Stock Up 1.4 %

Shares of Radian Group stock opened at $26.63 on Thursday. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.10 and a current ratio of 1.10. The stock has a market capitalization of $4.16 billion, a PE ratio of 6.14, a price-to-earnings-growth ratio of 1.57 and a beta of 1.14. Radian Group Inc. has a 52-week low of $17.83 and a 52-week high of $26.74. The company has a 50-day simple moving average of $24.21 and a two-hundred day simple moving average of $21.79.

Radian Group (NYSE:RDN – Get Rating) last issued its earnings results on Wednesday, May 3rd. The insurance provider reported $0.98 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.75 by $0.23. The business had revenue of $310.62 million during the quarter, compared to analysts’ expectations of $313.37 million. Radian Group had a net margin of 59.55% and a return on equity of 19.90%. The business’s revenue for the quarter was up 6.0% compared to the same quarter last year. During the same period in the previous year, the company earned $1.17 earnings per share. On average, analysts anticipate that Radian Group Inc. will post 3.28 EPS for the current fiscal year.

Radian Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 14th. Shareholders of record on Tuesday, May 30th will be issued a $0.225 dividend. The ex-dividend date of this dividend is Friday, May 26th. This represents a $0.90 annualized dividend and a yield of 3.38%. Radian Group’s dividend payout ratio (DPR) is presently 20.74%.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on RDN. Bank of America lowered shares of Radian Group from a “buy” rating to an “underperform” rating in a research note on Tuesday, May 9th. Royal Bank of Canada lifted their target price on shares of Radian Group from $22.00 to $24.00 and gave the company a “sector perform” rating in a research note on Friday, February 10th. Compass Point raised shares of Radian Group from a “neutral” rating to a “buy” rating and set a $29.00 target price on the stock in a research note on Tuesday, April 11th. StockNews.com initiated coverage on shares of Radian Group in a research note on Thursday, May 18th. They set a “hold” rating on the stock. Finally, Roth Capital reissued a “buy” rating on shares of Radian Group in a research note on Thursday, February 9th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $24.64.

Insiders Place Their Bets

In other news, insider Derek Brummer sold 18,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 10th. The shares were sold at an average price of $24.75, for a total transaction of $445,500.00. Following the completion of the transaction, the insider now directly owns 153,990 shares of the company’s stock, valued at $3,811,252.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, EVP Eric Ray sold 32,525 shares of the business’s stock in a transaction that occurred on Friday, May 19th. The shares were sold at an average price of $25.67, for a total transaction of $834,916.75. Following the completion of the transaction, the executive vice president now directly owns 60,878 shares of the company’s stock, valued at $1,562,738.26. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Derek Brummer sold 18,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 10th. The shares were sold at an average price of $24.75, for a total transaction of $445,500.00. Following the transaction, the insider now directly owns 153,990 shares of the company’s stock, valued at $3,811,252.50. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 126,892 shares of company stock valued at $3,242,329. Insiders own 1.58% of the company’s stock.

Radian Group Company Profile

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Radian Group Inc, together with its subsidiaries, engages in the mortgage and real estate services business in the United States. The company operates through Mortgage and Homegenius segments. The Mortgage segment offers credit-related insurance coverage primarily through private mortgage insurance on residential first-lien mortgage loans, as well as other credit risk management, contract underwriting solutions.