May 26, 2023 – &HRT Financial LP has recently lowered its stake in Radian Group Inc. by 21.1% during the fourth quarter, according to a recent filing with the Securities & Exchange Commission. The fund’s holdings now consist of 179,100 shares of Radian Group’s stock, which is a reduction of about 47,920 shares sold during the period. As per the most recent filing with the Securities & Exchange Commission, HRT Financial LP owns just 0.11% of Radian Group’s total worth amounting to $3,415,000.
Radian Group Inc., an insurance provider recently announced its quarterly dividend for the shareholders on May 30th. The date for receiving dividends is slated for Wednesday, June 14th whereby each shareholder will receive $0.225 as expected. Considering this annualized dividend amounting to $0.90 and the yield figure of 3.57%, it can be deduced that this payout ratio stands at a relatively low figure of just 20.74%.
Further significant news comes from insider dealings wherein Derek Brummer has recently sold off stocks worth around $283,214 on Tuesday February 28th at an average price rate of $21.57 per share leading to him owning only about 208,990 shares now valued at approximately $4,507,914.30 individually after selling out some of his former stakes in Radian Group Inc.’s stocks.
Another insider Edward J Hoffman also sold some stakes recently on February 28th through similar transactions where he sold about 9,990 shares worth approximately $215,883.90 at an average price rate of $21.61 per share instead resulting in him holding onto roughly only118534 shares now amounting to around $2,561519.
Overall experts believe since insiders have collectively sold over154182 shares that are presently amounting to roughly $3,710,747 last quarter, optimism levels for the future of Radian Group’s stock have somewhat plummeted. Presently only a minuscule 1.58% of the company’s shares are owned by insiders.
Institutional Investors and Research Firms Show Interest in Radian Group
Radian Group, a mortgage insurance provider, has recently attracted the attention of institutional investors and hedge funds alike. As of the third quarter, Vanguard Group Inc. owned over 19 million shares worth $380 million. LSV Asset Management grew its stake by 2.9%, and State Street Corp by 2.4%, while Thrivent Financial for Lutherans owns over four million shares worth $83 million. Additionally, Charles Schwab Investment Management owns almost four million shares worth $88 million, increasing their stake by 61.7%. These institutions now collectively own 94.37% of Radian Group’s stock.
Several research firms have also weighed in on RDN’s performance lately. Compass Point upgraded the company to a “buy” rating from a “neutral,” setting a target price of $29 on April 11th. Bank of America cut their rating on May 9th from “buy” to “underperform,” while Royal Bank of Canada increased their price objective from $22 to $24 in February but maintains a “sector perform” rating currently.
In other news, RDN recently announced that it will pay shareholders on record as of May 30th a quarterly dividend of $0.225 on June 14th–representing an annualized dividend yield at 3.57%. The stock opened at $25.23 on May 26th and has ranged between a yearly low of $17.83 and high of $26.06.
RDN’s financials look promising: according to Q1 earnings reports released earlier this month, they beat expectations with EPS figures coming in at $.98 per share – up from last year’s Q1 figure of $.75 cents per share – net margins were reported at over fifty-nine percent and revenues came close to matching analyst estimates despite the housing market experiencing stalled momentum during Q1.
All things considered; however you choose to analyze RDN’s performance, bear in mind that as far as analyst opinions go, Bloomberg has listed a “hold” rating and a consensus target price of $24.64 for the company’s stock.
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