Metropolitan Life Insurance Co. NY trimmed its position in Radian Group Inc (NYSE:RDN) by 53.0% in the fourth quarter, HoldingsChannel reports. The firm owned 67,756 shares of the insurance provider’s stock after selling 76,449 shares during the period. Metropolitan Life Insurance Co. NY’s holdings in Radian Group were worth $1,396,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. BlackRock Inc. raised its stake in shares of Radian Group by 2.7% in the fourth quarter. BlackRock Inc. now owns 14,438,816 shares of the insurance provider’s stock valued at $297,583,000 after purchasing an additional 377,393 shares in the last quarter. Investec Asset Management LTD raised its stake in shares of Radian Group by 23.0% in the fourth quarter. Investec Asset Management LTD now owns 4,362,115 shares of the insurance provider’s stock valued at $89,903,000 after purchasing an additional 815,149 shares in the last quarter. Brandywine Global Investment Management LLC raised its stake in Radian Group by 3.8% during the fourth quarter. Brandywine Global Investment Management LLC now owns 2,842,363 shares of the insurance provider’s stock worth $58,582,000 after acquiring an additional 103,941 shares in the last quarter. Vaughan Nelson Investment Management L.P. raised its stake in Radian Group by 63.8% during the fourth quarter. Vaughan Nelson Investment Management L.P. now owns 2,198,600 shares of the insurance provider’s stock worth $45,313,000 after acquiring an additional 856,375 shares in the last quarter. Finally, Geode Capital Management LLC raised its stake in Radian Group by 0.3% during the fourth quarter. Geode Capital Management LLC now owns 1,809,858 shares of the insurance provider’s stock worth $37,301,000 after acquiring an additional 5,077 shares in the last quarter. Institutional investors and hedge funds own 94.48% of the company’s stock.
Shares of RDN stock opened at $19.04 on Friday. The company has a current ratio of 1.28, a quick ratio of 1.28 and a debt-to-equity ratio of 0.34. The firm has a market cap of $4,113.25, a PE ratio of 10.46, a price-to-earnings-growth ratio of 1.21 and a beta of 1.58. Radian Group Inc has a 52 week low of $15.58 and a 52 week high of $23.49.
The firm also recently announced a quarterly dividend, which was paid on Friday, March 9th. Stockholders of record on Monday, February 26th were issued a dividend of $0.0025 per share. This represents a $0.01 annualized dividend and a dividend yield of 0.05%. The ex-dividend date was Friday, February 23rd. This is a boost from Radian Group’s previous quarterly dividend of $0.00. Radian Group’s dividend payout ratio is presently 0.55%.
Several research analysts have issued reports on RDN shares. Wells Fargo reiterated a “hold” rating on shares of Radian Group in a research note on Tuesday, March 13th. Royal Bank of Canada started coverage on Radian Group in a research note on Wednesday, December 20th. They set an “outperform” rating and a $26.00 price objective for the company. Macquarie started coverage on Radian Group in a research note on Wednesday, March 14th. They set a “neutral” rating for the company. ValuEngine upgraded Radian Group from a “buy” rating to a “strong-buy” rating in a research note on Friday, February 2nd. Finally, Deutsche Bank reiterated a “buy” rating on shares of Radian Group in a research note on Wednesday, March 14th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $24.68.
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Radian Group Company Profile
Radian Group Inc is an insurance holding company that provides mortgage insurance, and products and services to the real estate and mortgage finance industries. The Company operates in two segments: Mortgage Insurance and Services. The Mortgage Insurance segment provides credit-related insurance coverage, principally through private mortgage insurance to mortgage lending institutions.
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