New York State Teachers Retirement System Reduces Position in Radian Group Inc. (NYSE:RDN)

New York State Teachers Retirement System trimmed its holdings in shares of Radian Group Inc. (NYSE:RDN) by 3.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 72,096 shares of the insurance provider’s stock after selling 2,282 shares during the quarter. New York State Teachers Retirement System’s holdings in Radian Group were worth $2,058,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also modified their holdings of RDN. JPMorgan Chase & Co. increased its position in shares of Radian Group by 575.2% during the first quarter. JPMorgan Chase & Co. now owns 12,765,182 shares of the insurance provider’s stock worth $282,110,000 after acquiring an additional 10,874,587 shares during the last quarter. Goldman Sachs Group Inc. grew its stake in Radian Group by 202.0% in the second quarter. Goldman Sachs Group Inc. now owns 3,295,712 shares of the insurance provider’s stock worth $64,760,000 after purchasing an additional 2,204,335 shares in the last quarter. State Street Corp grew its stake in Radian Group by 45.6% in the first quarter. State Street Corp now owns 7,009,760 shares of the insurance provider’s stock worth $154,915,000 after purchasing an additional 2,195,362 shares in the last quarter. BlackRock Inc. grew its stake in Radian Group by 12.8% in the first quarter. BlackRock Inc. now owns 15,104,763 shares of the insurance provider’s stock worth $333,815,000 after purchasing an additional 1,710,552 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in 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 worth $88,713,000 after purchasing an additional 1,523,376 shares in the last quarter. 95.33% of the stock is owned by hedge funds and other institutional investors.

Radian Group Stock Performance

Shares of RDN stock opened at $29.48 on Wednesday. The company has a quick ratio of 1.65, a current ratio of 1.65 and a debt-to-equity ratio of 0.35. The business has a 50 day moving average of $30.18 and a two-hundred day moving average of $28.19. Radian Group Inc. has a 52 week low of $22.93 and a 52 week high of $33.69. The company has a market cap of $4.47 billion, a P/E ratio of 7.80, a PEG ratio of 1.85 and a beta of 1.02.

Radian Group (NYSE:RDN) last issued its earnings results on Wednesday, February 7th. The insurance provider reported $0.96 EPS for the quarter, beating analysts’ consensus estimates of $0.86 by $0.10. Radian Group had a return on equity of 14.75% and a net margin of 48.51%. The company had revenue of $328.64 million during the quarter, compared to the consensus estimate of $319.04 million. During the same period in the previous year, the firm posted $1.05 earnings per share. Radian Group’s quarterly revenue was up 4.4% compared to the same quarter last year. As a group, analysts anticipate that Radian Group Inc. will post 3.27 EPS for the current year.

Radian Group Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 12th. Shareholders of record on Monday, February 26th were paid a $0.245 dividend. This is an increase from Radian Group’s previous quarterly dividend of $0.23. This represents a $0.98 dividend on an annualized basis and a yield of 3.32%. The ex-dividend date of this dividend was Friday, February 23rd. Radian Group’s payout ratio is presently 25.93%.

Wall Street Analysts Forecast Growth

Separately, Keefe, Bruyette & Woods reiterated a “market perform” rating and issued a $35.00 price target (down from $36.00) on shares of Radian Group in a research note on Thursday, April 4th. One investment analyst has rated the stock with a sell rating and five have issued a hold rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $30.00.

Radian Group Company Profile

Radian Group Inc, together with its subsidiaries, engages in the mortgage and real estate services business in the United States. It operates through two segments, Mortgage Insurance and Homegenius segments. The Mortgage Insurance segment aggregates, manages, and distributes U.S. mortgage credit risk for mortgage lending institutions and mortgage credit investors, through private mortgage insurance on residential first-lien mortgage loans; and other credit risk management solutions, including contract underwriting.