Bank of Nova Scotia Purchases New Position in Radian Group Inc. (NYSE:RDN)

Bank of Nova Scotia purchased a new stake in Radian Group Inc. (NYSE:RDNGet Rating) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 38,960 shares of the insurance provider’s stock, valued at approximately $766,000.

A number of other large investors have also recently modified their holdings of the company. Vanguard Group Inc. boosted its holdings in shares of Radian Group by 8.5% in the first 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 period. LSV Asset Management boosted its holdings in shares of Radian Group by 7.5% in the first quarter. LSV Asset Management now owns 7,063,784 shares of the insurance provider’s stock valued at $156,887,000 after purchasing an additional 491,237 shares during the period. Dimensional Fund Advisors LP boosted its holdings in shares of Radian Group by 3.1% in the first quarter. Dimensional Fund Advisors LP now owns 5,800,876 shares of the insurance provider’s stock valued at $128,841,000 after purchasing an additional 176,071 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in shares of Radian Group by 61.7% in the first 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 period. Finally, Arrowstreet Capital Limited Partnership boosted its holdings in shares of Radian Group by 19.9% in the first quarter. Arrowstreet Capital Limited Partnership now owns 3,078,508 shares of the insurance provider’s stock valued at $68,374,000 after purchasing an additional 511,889 shares during the period. Hedge funds and other institutional investors own 99.37% of the company’s stock.

Radian Group Stock Performance

Shares of RDN stock opened at $19.12 on Friday. The business’s fifty day simple moving average is $20.01 and its 200-day simple moving average is $20.72. The company has a market cap of $3.00 billion, a PE ratio of 4.32, a PEG ratio of 0.81 and a beta of 1.19. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 0.42. Radian Group Inc. has a 12-month low of $17.97 and a 12-month high of $24.84.

Radian Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 2nd. Stockholders of record on Monday, November 21st will be given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 4.18%. The ex-dividend date is Friday, November 18th. Radian Group’s payout ratio is presently 18.06%.

Analyst Ratings Changes

A number of analysts recently issued reports on RDN shares. StockNews.com lowered Radian Group from a “buy” rating to a “hold” rating in a report on Friday, November 4th. Keefe, Bruyette & Woods upgraded Radian Group from a “market perform” rating to an “outperform” rating and lowered their target price for the stock from $27.00 to $25.00 in a report on Sunday, October 16th. Compass Point lowered Radian Group from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $28.00 to $22.50 in a report on Tuesday, November 8th. Credit Suisse Group lowered their target price on Radian Group to $23.50 in a report on Thursday, October 13th. Finally, Barclays lowered their target price on Radian Group from $35.00 to $24.00 and set an “overweight” rating for the company in a report on Thursday, October 13th. Three investment 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 stock currently has an average rating of “Moderate Buy” and an average price target of $24.17.

Radian Group 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. Its 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, and fulfillment solutions.

Further Reading

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

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