Royal Bank of Canada started coverage on shares of Radian Group (NYSE:RDN) in a research report sent to investors on Wednesday, December 20th, Marketbeat.com reports. The firm issued an outperform rating and a $26.00 target price on the insurance provider’s stock.
A number of other equities analysts also recently issued reports on RDN. ValuEngine downgraded Radian Group from a strong-buy rating to a buy rating in a report on Thursday, September 7th. Zacks Investment Research raised Radian Group from a hold rating to a buy rating and set a $21.00 price target for the company in a report on Tuesday, October 10th. Compass Point reissued a neutral rating and issued a $21.25 price objective on shares of Radian Group in a report on Saturday, October 14th. BTIG Research reissued a buy rating and issued a $22.00 price objective on shares of Radian Group in a report on Sunday, October 15th. Finally, Susquehanna Bancshares set a $22.00 price objective on Radian Group and gave the company a buy rating in a report on Monday, October 16th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. Radian Group currently has an average rating of Buy and a consensus target price of $23.89.
Radian Group (NYSE RDN) traded up $0.49 during mid-day trading on Wednesday, hitting $22.41. 1,410,000 shares of the company were exchanged, compared to its average volume of 1,570,000. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.23 and a quick ratio of 1.23. Radian Group has a 12-month low of $15.58 and a 12-month high of $22.66. The stock has a market capitalization of $4,830.00, a price-to-earnings ratio of 28.37, a price-to-earnings-growth ratio of 1.93 and a beta of 1.57.
Radian Group (NYSE:RDN) last announced its quarterly earnings results on Thursday, October 26th. The insurance provider reported $0.46 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.42 by $0.04. The firm had revenue of $312.05 million during the quarter, compared to the consensus estimate of $321.10 million. Radian Group had a return on equity of 12.99% and a net margin of 14.88%. The firm’s quarterly revenue was down 2.8% compared to the same quarter last year. During the same period in the prior year, the company posted $0.41 earnings per share. sell-side analysts forecast that Radian Group will post 1.75 earnings per share for the current fiscal year.
Several institutional investors have recently added to or reduced their stakes in RDN. Capital World Investors raised its stake in shares of Radian Group by 42.7% during the second quarter. Capital World Investors now owns 4,930,000 shares of the insurance provider’s stock worth $80,606,000 after purchasing an additional 1,475,000 shares during the last quarter. Northern Trust Corp raised its position in Radian Group by 24.6% in the second 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 in the last quarter. Ameriprise Financial Inc. raised its position in Radian Group by 59.3% in the third quarter. Ameriprise Financial Inc. now owns 2,601,594 shares of the insurance provider’s stock worth $48,623,000 after acquiring an additional 968,914 shares in the last quarter. Vanguard Group Inc. raised its position in Radian Group by 5.0% in the second quarter. Vanguard Group Inc. now owns 18,116,304 shares of the insurance provider’s stock worth $296,201,000 after acquiring an additional 859,950 shares in the last quarter. Finally, Calamos Advisors LLC raised its position in Radian Group by 62.5% in the second quarter. Calamos Advisors LLC now owns 2,054,000 shares of the insurance provider’s stock worth $33,583,000 after acquiring an additional 790,132 shares in the last quarter. Institutional investors and hedge funds own 91.43% of the company’s stock.
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About Radian Group
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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