Principal Financial Group Inc. Lowers Stock Holdings in Radian Group Inc. (NYSE:RDN)

Posted by Defense World Staff on Jun 8th, 2023

Principal Financial Group Inc. trimmed its holdings in shares of Radian Group Inc. (NYSE:RDN – Get Rating) by 89.6% in the 4th quarter, Holdings Channel.com reports. The firm owned 10,220 shares of the insurance provider’s stock after selling 88,337 shares during the period. Principal Financial Group Inc.’s holdings in Radian Group were worth $195,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in RDN. First Eagle Investment Management LLC raised its holdings in Radian Group by 40.5% in the 4th quarter. First Eagle Investment Management LLC now owns 107,623 shares of the insurance provider’s stock worth $2,052,000 after acquiring an additional 31,000 shares during the last quarter. Aviva PLC purchased a new position in Radian Group in the 4th quarter worth approximately $1,016,000. Mercer Global Advisors Inc. ADV purchased a new position in Radian Group in the 4th quarter worth approximately $315,000. Raymond James & Associates raised its holdings in Radian Group by 883.6% in the 4th quarter. Raymond James & Associates now owns 199,898 shares of the insurance provider’s stock worth $3,812,000 after acquiring an additional 179,574 shares during the last quarter. Finally, UBS Group AG raised its stake in Radian Group by 41.6% during the 4th quarter. UBS Group AG now owns 159,249 shares of the insurance provider’s stock valued at $3,037,000 after buying an additional 46,795 shares during the last quarter. 94.37% of the stock is currently owned by hedge funds and other institutional investors.

Radian Group Trading Up 1.4 %

Shares of RDN stock opened at $26.63 on Thursday. Radian Group Inc. has a 1 year low of $17.83 and a 1 year high of $26.74. The firm has a fifty day moving average price of $24.21 and a 200-day moving average price of $21.79. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.10 and a quick ratio of 1.10. The company has a market cap of $4.16 billion, a price-to-earnings ratio of 6.14, a PEG ratio of 1.57 and a beta of 1.14.

Radian Group (NYSE:RDN – Get Rating) last issued its quarterly earnings data on Wednesday, May 3rd. The insurance provider reported $0.98 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.75 by $0.23. The firm had revenue of $310.62 million during the quarter, compared to the consensus estimate of $313.37 million. Radian Group had a net margin of 59.55% and a return on equity of 19.90%. The company’s revenue for the quarter was up 6.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.17 EPS. As a group, equities analysts predict that Radian Group Inc. will post 3.28 earnings per share for the current year.

Radian Group Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on RDN shares. StockNews.com started coverage on shares of Radian Group in a research note on Thursday, May 18th. They set a “hold” rating for the company. Royal Bank of Canada boosted 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. Roth Capital reiterated a “buy” rating on shares of Radian Group in a research note on Thursday, February 9th. Bank of America lowered shares of Radian Group from a “buy” rating to an “underperform” rating in a research note on Tuesday, May 9th. Finally, Compass Point upgraded shares of Radian Group from a “neutral” rating to a “buy” rating and set a $29.00 target price for the company in a research note on Tuesday, April 11th. One analyst has rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, Radian Group presently has a consensus rating of “Hold” and a consensus price target of $24.64.

Insiders Place Their Bets

In other Radian Group news, insider Derek Brummer sold 12,475 shares of the business’s stock in a transaction on Friday, May 12th. The shares were sold at an average price of $24.97, for a total value of $311,500.75. Following the sale, the insider now owns 141,515 shares in the company, valued at approximately $3,533,629.55. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, EVP Eric Ray sold 7,087 shares of the stock in a transaction dated Wednesday, May 24th. The shares were sold at an average price of $25.07, for a total value of $177,671.09. Following the sale, the executive vice president now directly owns 53,791 shares of the company’s stock, valued at approximately $1,348,540.37. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Derek Brummer sold 12,475 shares of the company’s stock in a transaction dated Friday, May 12th. The stock was sold at an average price of $24.97, for a total transaction of $311,500.75. Following the completion of the transaction, the insider now owns 141,515 shares in the company, valued at $3,533,629.55. The disclosure for this sale can be found here. Insiders have sold a total of 126,892 shares of company stock worth $3,242,329 in the last 90 days. 1.58% of the stock is currently owned by corporate insiders.

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.