State of New Jersey Common Pension Fund D Raises Holdings in Radian Group Inc. (NYSE:RDN)

State of New Jersey Common Pension Fund D grew its position in shares of Radian Group Inc. (NYSE:RDN) by 6.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 99,821 shares of the insurance provider’s stock after buying an additional 6,014 shares during the period. State of New Jersey Common Pension Fund D owned 0.07% of Radian Group worth $2,850,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. GAMMA Investing LLC purchased a new position in shares of Radian Group during the 4th quarter valued at $101,000. International Assets Investment Management LLC lifted its position in shares of Radian Group by 923.0% during the 4th quarter. International Assets Investment Management LLC now owns 5,258 shares of the insurance provider’s stock valued at $150,000 after buying an additional 4,744 shares during the last quarter. CI Investments Inc. purchased a new position in shares of Radian Group during the 3rd quarter valued at $148,000. Envestnet Portfolio Solutions Inc. purchased a new position in shares of Radian Group during the 3rd quarter valued at $205,000. Finally, Vest Financial LLC purchased a new position in shares of Radian Group during the 4th quarter valued at $241,000. Hedge funds and other institutional investors own 95.33% of the company’s stock.

Radian Group Price Performance

Shares of NYSE RDN opened at $30.35 on Monday. The firm has a market capitalization of $4.60 billion, a P/E ratio of 8.03, a P/E/G ratio of 1.86 and a beta of 1.02. 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 stock’s 50-day simple moving average is $30.51 and its two-hundred day simple moving average is $28.41. Radian Group Inc. has a twelve month low of $22.93 and a twelve month high of $33.69.

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

Radian Group Increases Dividend

The firm 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 a positive change from Radian Group’s previous quarterly dividend of $0.23. This represents a $0.98 dividend on an annualized basis and a yield of 3.23%. The ex-dividend date of this dividend was Friday, February 23rd. Radian Group’s dividend payout ratio is currently 25.93%.

Wall Street Analysts Forecast Growth

Separately, Keefe, Bruyette & Woods reissued a “market perform” rating and set a $35.00 price objective (down previously from $36.00) on shares of Radian Group in a report on Thursday, April 4th. One analyst has rated the stock with a sell rating and five have given a hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $30.00.

About Radian Group

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.