In a recent transaction, Serio Gregory, a director at Radian Group Inc . (NYSE:RDN), sold 9,663 shares of the company's common stock at an average price of $31.0389 per share, totaling approximately $300,000. This sale was recorded on May 23, 2024, and was disclosed to the public in a filing with the Securities and Exchange Commission.
The transaction has reduced Gregory's holdings in Radian Group to 4,444 shares of common stock, following the sale. The sale price of $31.0389 reflects the market value of the shares at the time of the transaction.
In addition to the sale of common stock, the filing also reported an award of 5,109 Restricted Stock Units (RSUs) to Gregory, which represents an annual equity award for non-employee directors. Each RSU grants Gregory the contingent right to receive one share of Radian Group's common stock. These RSUs are set to vest on May 15, 2025, according to the footnotes in the SEC filing.
The transactions come as part of the regular reporting of stock trades and holdings by company insiders. Radian Group, based in Philadelphia, Pennsylvania, operates in the surety insurance industry and is incorporated in Delaware.
Investors often monitor the buying and selling activities of company insiders, such as directors and executives, as these transactions can provide insights into the insiders' perspectives on the company's current valuation and future prospects.
The information regarding these transactions is publicly available and can be found in the filings made with the Securities and Exchange Commission.
InvestingPro Insights
Recent insider transactions at Radian Group Inc. (NYSE:RDN) have caught the attention of market watchers. With Director Serio Gregory's sale of shares, investors are keen to understand the company's financial health and future outlook. According to the latest data from InvestingPro, Radian Group boasts a solid market capitalization of $4.71 billion, which speaks to the company's size and market presence.
An important metric for investors to consider is the price-to-earnings (P/E) ratio. Radian Group's P/E ratio stands at an attractive 7.63 when adjusted for the last twelve months as of Q1 2024, suggesting that the company's shares might be undervalued compared to industry averages. This is further supported by a price to book (P/B) ratio of 1.06, indicating that the stock is potentially trading at a fair value relative to its net assets.
For those interested in income-generating investments, Radian Group has a commendable track record, maintaining dividend payments for 32 consecutive years. The company's dividend yield as of the latest data is 3.13%, accompanied by a notable dividend growth of 8.89% over the last twelve months. This consistent performance is one of the InvestingPro Tips that highlights the company's commitment to returning value to shareholders.
Furthermore, Radian Group's financial stability is underscored by the fact that its liquid assets exceed short-term obligations, providing reassurance about the company's ability to meet its immediate financial responsibilities. This is another InvestingPro Tip that could be of interest to potential investors.
For those seeking more in-depth analysis, there are additional InvestingPro Tips available for Radian Group. To access these insights and leverage them in your investment strategy, consider using the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription at https://www.investing.com/pro/RDN. The company's next earnings date is set for July 31, 2024, which will provide further clarity on its performance and future outlook.
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