United Services Automobile Association Buys 72,984 Shares of Radian Group Inc (RDN)

United Services Automobile Association boosted its stake in shares of Radian Group Inc (NYSE:RDN) by 52.7% in the second quarter, HoldingsChannel.com reports. The fund owned 211,577 shares of the insurance provider’s stock after purchasing an additional 72,984 shares during the period. United Services Automobile Association’s holdings in Radian Group were worth $3,432,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently bought and sold shares of the business. BlackRock Inc. lifted its position in Radian Group by 3.7% during the 2nd quarter. BlackRock Inc. now owns 15,049,243 shares of the insurance provider’s stock worth $244,099,000 after acquiring an additional 534,225 shares during the period. Northern Trust Corp lifted its position in Radian Group by 1.0% during the 2nd quarter. Northern Trust Corp now owns 5,230,041 shares of the insurance provider’s stock worth $84,831,000 after acquiring an additional 50,798 shares during the period. Canada Pension Plan Investment Board lifted its position in Radian Group by 94.1% during the 2nd quarter. Canada Pension Plan Investment Board now owns 5,056,400 shares of the insurance provider’s stock worth $82,015,000 after acquiring an additional 2,451,300 shares during the period. Investec Asset Management LTD lifted its position in Radian Group by 5.8% during the 2nd quarter. Investec Asset Management LTD now owns 4,159,795 shares of the insurance provider’s stock worth $67,472,000 after acquiring an additional 227,851 shares during the period. Finally, Glenmede Trust Co. NA lifted its position in Radian Group by 3.7% during the 2nd quarter. Glenmede Trust Co. NA now owns 3,025,926 shares of the insurance provider’s stock worth $49,081,000 after acquiring an additional 107,911 shares during the period. 92.13% of the stock is owned by institutional investors.

RDN has been the subject of a number of analyst reports. ValuEngine raised Radian Group from a “sell” rating to a “hold” rating in a research note on Thursday, July 19th. Royal Bank of Canada reissued a “hold” rating and set a $21.00 target price on shares of Radian Group in a research note on Friday, July 27th. Zacks Investment Research raised Radian Group from a “sell” rating to a “hold” rating in a research note on Wednesday, July 11th. TheStreet raised Radian Group from a “c+” rating to a “b-” rating in a research note on Tuesday, July 31st. Finally, Bank of America increased their target price on Radian Group from $13.00 to $23.00 and gave the stock a “buy” rating in a research note on Monday, August 13th. Five equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $23.11.

Shares of RDN stock opened at $19.41 on Wednesday. The company has a market cap of $4.41 billion, a PE ratio of 10.36, a price-to-earnings-growth ratio of 1.63 and a beta of 1.49. Radian Group Inc has a 12-month low of $14.06 and a 12-month high of $23.49. The company has a quick ratio of 1.48, a current ratio of 1.48 and a debt-to-equity ratio of 0.32.

Radian Group (NYSE:RDN) last released its quarterly earnings data on Thursday, July 26th. The insurance provider reported $0.69 earnings per share for the quarter, beating the consensus estimate of $0.60 by $0.09. Radian Group had a return on equity of 16.10% and a net margin of 31.87%. The firm had revenue of $319.30 million during the quarter, compared to the consensus estimate of $320.34 million. During the same period last year, the business posted $0.48 EPS. Radian Group’s quarterly revenue was up 5.4% on a year-over-year basis. On average, equities research analysts expect that Radian Group Inc will post 2.54 earnings per share for the current year.

Radian Group declared that its board has authorized a stock repurchase plan on Thursday, August 16th that permits the company to repurchase $100.00 million in shares. This repurchase authorization permits the insurance provider to purchase up to 2.4% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its stock is undervalued.

Radian Group Company Profile

Radian Group Inc, through its subsidiaries, provides mortgage and real estate products and services in the United States. It operates through two segments, Mortgage Insurance and Services. The Mortgage Insurance segment offers credit-related insurance coverage, primarily through private mortgage insurance, as well as other credit risk management solutions to mortgage lending institutions; and primary mortgage insurance coverage on residential first-lien mortgage loans.

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Institutional Ownership by Quarter for Radian Group (NYSE:RDN)

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