FBR & Co reissued their buy rating on shares of Radian Group Inc. (NYSE:RDN) in a research report released on Thursday, October 26th.
Other equities analysts have also recently issued reports about the stock. ValuEngine cut shares of Radian Group from a strong-buy rating to a buy rating in a research report on Thursday, September 7th. Barclays PLC reissued an overweight rating and issued a $24.00 target price (down previously from $25.00) on shares of Radian Group in a research report on Wednesday, August 2nd. Susquehanna Bancshares Inc set a $22.00 target price on shares of Radian Group and gave the company a buy rating in a research report on Monday, October 16th. BTIG Research reaffirmed a buy rating and set a $22.00 price objective on shares of Radian Group in a research report on Sunday, October 15th. Finally, Compass Point reaffirmed a neutral rating and set a $21.25 price objective on shares of Radian Group in a research report on Saturday, October 14th. One analyst has rated the stock with a sell rating, two have assigned a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. The stock has a consensus rating of Buy and a consensus price target of $22.59.
Shares of Radian Group (NYSE:RDN) opened at $19.67 on Thursday. The stock has a market cap of $4,240.16, a P/E ratio of 11.44, a PEG ratio of 2.24 and a beta of 1.59. Radian Group has a fifty-two week low of $13.62 and a fifty-two week high of $21.59. The company has a quick ratio of 1.21, a current ratio of 1.23 and a debt-to-equity ratio of 0.34.
Radian Group (NYSE:RDN) last issued its earnings results on Thursday, October 26th. The insurance provider reported $0.46 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.42 by $0.04. Radian Group had a net margin of 14.88% and a return on equity of 12.99%. The business had revenue of $312.05 million for the quarter, compared to the consensus estimate of $321.10 million. During the same period in the previous year, the company earned $0.41 earnings per share. The firm’s revenue for the quarter was down 2.8% on a year-over-year basis. sell-side analysts predict that Radian Group will post 1.76 EPS for the current fiscal year.
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The firm also recently declared a quarterly dividend, which will be paid on Friday, December 8th. Shareholders of record on Monday, November 27th will be issued a dividend of $0.002 per share. This represents a $0.01 dividend on an annualized basis and a dividend yield of 0.04%. The ex-dividend date is Friday, November 24th. Radian Group’s payout ratio is 1.28%.
Radian Group declared that its board has initiated a share repurchase program on Wednesday, August 9th that allows the company to buyback $50.00 million in outstanding shares. This buyback authorization allows the insurance provider to repurchase up to 1.3% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board believes its shares are undervalued.
In related news, CEO Richard G. Thornberry purchased 15,000 shares of the stock in a transaction that occurred on Friday, August 18th. The stock was acquired at an average cost of $16.78 per share, with a total value of $251,700.00. Following the transaction, the chief executive officer now owns 15,000 shares of the company’s stock, valued at approximately $251,700. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Richard G. Thornberry bought 5,000 shares of the firm’s stock in a transaction dated Monday, August 21st. The shares were acquired at an average cost of $16.54 per share, with a total value of $82,700.00. Following the completion of the transaction, the chief executive officer now owns 20,000 shares in the company, valued at $330,800. The disclosure for this purchase can be found here. 1.06% of the stock is currently owned by corporate insiders.
A number of institutional investors and hedge funds have recently made changes to their positions in RDN. BlackRock Inc. increased its holdings in Radian Group by 24,173.9% in the 1st quarter. BlackRock Inc. now owns 14,125,455 shares of the insurance provider’s stock worth $253,692,000 after acquiring an additional 14,067,263 shares during the last quarter. Capital World Investors increased its holdings in Radian Group by 42.7% in the 2nd quarter. Capital World Investors now owns 4,930,000 shares of the insurance provider’s stock worth $80,606,000 after acquiring an additional 1,475,000 shares during the last quarter. Vaughan Nelson Investment Management L.P. purchased a new stake in Radian Group in the 2nd quarter worth about $17,167,000. Northern Trust Corp increased its holdings in Radian Group by 24.6% in the 2nd quarter. Northern Trust Corp now owns 5,305,329 shares of the insurance provider’s stock worth $86,742,000 after acquiring an additional 1,048,954 shares during the last quarter. Finally, Ameriprise Financial Inc. boosted its stake in Radian Group by 59.3% in the 3rd quarter. Ameriprise Financial Inc. now owns 2,601,594 shares of the insurance provider’s stock worth $48,623,000 after purchasing an additional 968,914 shares during the period. 90.30% of the stock is owned by institutional investors.
Radian Group Company Profile
Radian Group Inc is an insurance 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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