Trade Report: The Nationwide Fund Advisors Increases Position in Radian Group Inc. (RDN)

The Nationwide Fund Advisors Increases Position in Radian Group Inc. (RDN)

Nationwide Fund Advisors boosted its position in Radian Group Inc. (NYSE:RDN) by 18.9% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 209,933 shares of the company’s stock after buying an additional 33,391 shares during the period. Nationwide Fund Advisors owned approximately 0.10% of Radian Group worth $2,188,000 as of its most recent filing with the SEC.

Other institutional investors also recently modified their holdings of the company. LSV Asset Management boosted its position in shares of Radian Group by 19.4% in the second quarter. LSV Asset Management now owns 10,842,733 shares of the company’s stock valued at $112,981,000 after buying an additional 1,760,250 shares during the period. State Street Corp boosted its position in shares of Radian Group by 11.6% in the first quarter. State Street Corp now owns 6,701,250 shares of the company’s stock valued at $83,095,000 after buying an additional 699,185 shares during the period. Thompson Siegel & Walmsley LLC boosted its position in shares of Radian Group by 9.0% in the second quarter. Thompson Siegel & Walmsley LLC now owns 2,991,510 shares of the company’s stock valued at $31,172,000 after buying an additional 247,650 shares during the period. Glenmede Trust Co. NA boosted its position in shares of Radian Group by 5.6% in the second quarter. Glenmede Trust Co. NA now owns 2,822,618 shares of the company’s stock valued at $29,410,000 after buying an additional 148,605 shares during the period. Finally, Boston Partners boosted its position in shares of Radian Group by 1.0% in the second quarter. Boston Partners now owns 2,247,257 shares of the company’s stock valued at $23,417,000 after buying an additional 21,738 shares during the period. 93.38% of the stock is owned by institutional investors and hedge funds.

Shares of Radian Group Inc. (NYSE:RDN) traded up 2.653% during midday trading on Wednesday, reaching $13.735. 1,004,323 shares of the company’s stock traded hands. The stock’s 50-day moving average price is $13.61 and its 200 day moving average price is $12.38. The firm has a market capitalization of $2.94 billion, a PE ratio of 10.296 and a beta of 2.01. Radian Group Inc. has a one year low of $9.29 and a one year high of $16.95.

Radian Group (NYSE:RDN) last issued its quarterly earnings results on Thursday, July 28th. The company reported $0.38 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.38. Radian Group had a return on equity of 12.64% and a net margin of 25.42%. The business had revenue of $330.20 million for the quarter, compared to analyst estimates of $224.68 million. During the same quarter in the previous year, the firm earned $0.40 earnings per share. On average, equities research analysts expect that Radian Group Inc. will post $1.54 earnings per share for the current fiscal year.

Several research firms have recently weighed in on RDN. BTIG Research reaffirmed a “buy” rating and issued a $22.00 price objective on shares of Radian Group in a research note on Wednesday, July 6th. FBR & Co raised their price objective on shares of Radian Group from $14.00 to $16.00 and gave the company an “outperform” rating in a research note on Friday, July 29th. Zacks Investment Research lowered shares of Radian Group from a “hold” rating to a “sell” rating in a research note on Wednesday, September 21st. Finally, TheStreet raised shares of Radian Group from a “hold” rating to a “buy” rating in a research note on Thursday, August 11th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and nine have issued a buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $16.75.

In related news, EVP Derek Brummer purchased 16,000 shares of the firm’s stock in a transaction on Wednesday, August 10th. The stock was bought at an average cost of $12.87 per share, with a total value of $205,920.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 1.83% of the company’s stock.

Radian Group Company Profile

Radian Group Inc is a 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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