Shares of Radian Group Trading Higher Following Sale of Financial Guaranty Subsidiary

Shares of

were trading higher by more than seven percent Tuesday morning after the company disclosed it will sell its Radian Asset Assurance subsidiary to

for $810 million in cash. “While Radian Asset has been an important part of our history and our success, we are committed to streamlining our business and aligning our strategy toward the mortgage and real estate markets,” Radian Group's Chief Executive Office S.A. Ibrahim said in a