James Morrow’s Callodine Capital Portfolio: Top 5 Picks

3. Radian Group Inc. (NYSE:RDN)

Callodine Capital’s Stake Value: $17,947,000

Percentage of Morrow’s 13F Portfolio: 6.77%

Number of Hedge Fund Holders: 30

Radian Group Inc. (NYSE: RDN) is a Philadelphia, Pennsylvania-based diversified mortgage and real estate services business. The company is involved in credit-related insurance coverage through its mortgage division. Meanwhile, through the real estate division, the company comes into play at various stages of the real estate supply chain.

As of the second quarter of 2021, Callodine Capital’s holding in Radian Group Inc. (NYSE: RDN) stood at 806,601 shares, worth $17.95 million. Callodine Capital reduced its exposure in Radian Group from 8.63% during Q1 2021 to 6.77% of its holdings in Q2 2021. Callodine Capital has owned stakes in Radian Group since Q4 2018, making it the oldest holding amongst the top 10 holdings in James Morrow’s portfolio.

Recently, after the debut of titlegenius in Florida, Radian Group Inc. (NYSE: RDN) launched its blockchain-backed title insurance and closing services in five states, namely Arizona, California, Nevada, Ohio, and Pennsylvania. Blockchain technology is considered as the way forward in recording real estate ownership details.

Keeping in view the company’s future outlook, investment firm B Riley maintained a Buy rating on the stock and increased the price target from $30 to $31.