Mackay Shields LLC bought a new stake in Radian Group Inc (NYSE:RDN) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 23,400 shares of the insurance provider’s stock, valued at approximately $383,000.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in RDN. JPMorgan Chase & Co. raised its position in Radian Group by 1.5% in the third quarter. JPMorgan Chase & Co. now owns 431,635 shares of the insurance provider’s stock worth $8,922,000 after acquiring an additional 6,520 shares in the last quarter. BlackRock Inc. lifted its holdings in Radian Group by 0.8% in the 3rd quarter. BlackRock Inc. now owns 15,163,438 shares of the insurance provider’s stock worth $313,427,000 after purchasing an additional 114,195 shares during the last quarter. American International Group Inc. lifted its holdings in Radian Group by 1.8% in the 3rd quarter. American International Group Inc. now owns 143,387 shares of the insurance provider’s stock worth $2,964,000 after purchasing an additional 2,586 shares during the last quarter. Quantbot Technologies LP lifted its holdings in Radian Group by 491.1% in the 3rd quarter. Quantbot Technologies LP now owns 19,552 shares of the insurance provider’s stock worth $404,000 after purchasing an additional 16,244 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its holdings in shares of Radian Group by 1.5% during the third quarter. Dimensional Fund Advisors LP now owns 2,508,155 shares of the insurance provider’s stock worth $51,839,000 after buying an additional 37,984 shares during the last quarter. 94.50% of the stock is owned by institutional investors and hedge funds.
Shares of NYSE RDN traded up $0.07 during mid-day trading on Wednesday, reaching $22.99. 1,141,381 shares of the company’s stock were exchanged, compared to its average volume of 1,333,954. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.40 and a quick ratio of 1.40. The firm has a market cap of $4.92 billion, a P/E ratio of 8.55, a P/E/G ratio of 1.64 and a beta of 1.60. Radian Group Inc has a twelve month low of $14.06 and a twelve month high of $23.27.
A number of research analysts recently commented on RDN shares. Zacks Investment Research upgraded Radian Group from a “sell” rating to a “hold” rating in a research note on Wednesday, April 17th. ValuEngine upgraded Radian Group from a “sell” rating to a “hold” rating in a research report on Tuesday, January 29th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and four have given a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $22.14.
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Radian Group Profile
Radian Group Inc, through its subsidiaries, engages in the mortgage and real estate services business in the United States. It operates in two segments, Mortgage Insurance and Services. The Mortgage Insurance segment offers credit-related insurance coverage, primarily through private mortgage insurance on residential first-lien mortgage loans, as well as other credit risk management solutions to mortgage lending institutions and mortgage credit investors.
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