Radian Group Inc (NYSE:RDN) – Research analysts at B. Riley boosted their FY2018 earnings per share estimates for shares of Radian Group in a research note issued on Tuesday. B. Riley analyst R. Binner now forecasts that the insurance provider will post earnings of $2.30 per share for the year, up from their previous estimate of $2.25. B. Riley has a “Neutral” rating and a $22.00 price target on the stock. B. Riley also issued estimates for Radian Group’s FY2019 earnings at $2.50 EPS.
Radian Group (NYSE:RDN) last posted its quarterly earnings results on Thursday, February 1st. The insurance provider reported $0.51 EPS for the quarter, topping analysts’ consensus estimates of $0.44 by $0.07. The company had revenue of $317.90 million for the quarter, compared to analysts’ expectations of $322.32 million. Radian Group had a net margin of 9.91% and a return on equity of 13.59%. Radian Group’s revenue was up 15.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.41 EPS.
A number of other equities research analysts have also recently commented on RDN. Zacks Investment Research cut shares of Radian Group from a “buy” rating to a “hold” rating in a report on Monday, October 23rd. Deutsche Bank boosted their target price on shares of Radian Group from $21.00 to $23.00 and gave the company a “buy” rating in a report on Wednesday, October 25th. FBR & Co reissued a “buy” rating on shares of Radian Group in a report on Thursday, October 26th. Compass Point raised shares of Radian Group from a “neutral” rating to a “buy” rating and boosted their target price for the company from $21.75 to $24.75 in a report on Friday, October 27th. Finally, BTIG Research reissued a “buy” rating and set a $22.00 target price on shares of Radian Group in a report on Sunday, October 29th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, eight have issued a buy rating and two have given a strong buy rating to the stock. Radian Group currently has an average rating of “Buy” and a consensus target price of $24.68.
Radian Group (NYSE:RDN) traded down $0.19 during trading hours on Wednesday, hitting $20.86. 272,138 shares of the company were exchanged, compared to its average volume of 1,220,642. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.23 and a quick ratio of 1.23. The company has a market cap of $4,521.30, a PE ratio of 38.98, a PEG ratio of 1.34 and a beta of 1.58. Radian Group has a 52 week low of $15.58 and a 52 week high of $23.49.
Hedge funds have recently modified their holdings of the business. Vaughan Nelson Investment Management L.P. raised its holdings in Radian Group by 27.8% during the 3rd quarter. Vaughan Nelson Investment Management L.P. now owns 1,342,225 shares of the insurance provider’s stock valued at $25,086,000 after acquiring an additional 292,200 shares during the period. IndexIQ Advisors LLC grew its position in shares of Radian Group by 83.1% during the 3rd quarter. IndexIQ Advisors LLC now owns 48,260 shares of the insurance provider’s stock valued at $902,000 after purchasing an additional 21,904 shares in the last quarter. Prudential Financial Inc. grew its position in shares of Radian Group by 57.0% during the 3rd quarter. Prudential Financial Inc. now owns 2,085,847 shares of the insurance provider’s stock valued at $38,984,000 after purchasing an additional 757,490 shares in the last quarter. Canada Pension Plan Investment Board grew its position in shares of Radian Group by 28.6% during the 3rd quarter. Canada Pension Plan Investment Board now owns 126,200 shares of the insurance provider’s stock valued at $2,359,000 after purchasing an additional 28,100 shares in the last quarter. Finally, Nordea Investment Management AB grew its position in shares of Radian Group by 45.8% during the 3rd quarter. Nordea Investment Management AB now owns 639,207 shares of the insurance provider’s stock valued at $11,947,000 after purchasing an additional 200,673 shares in the last quarter. 91.66% of the stock is currently owned by institutional investors and hedge funds.
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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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