ValuEngine cut shares of Radian Group (NYSE:RDN) from a hold rating to a sell rating in a research note released on Friday morning.
RDN has been the topic of several other reports. Bank of America increased their price target on shares of Radian Group from $13.00 to $23.00 and gave the stock a buy rating in a research report on Monday, August 13th. Compass Point set a $26.00 price target on shares of Radian Group and gave the stock a buy rating in a research report on Thursday. Royal Bank of Canada reiterated a hold rating and issued a $21.00 price target on shares of Radian Group in a research report on Friday, July 27th. Zacks Investment Research upgraded shares of Radian Group from a sell rating to a hold rating in a research report on Wednesday, July 11th. Finally, TheStreet upgraded shares of Radian Group from a c+ rating to a b- rating in a research report on Tuesday, July 31st. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and eight have assigned a buy rating to the company. Radian Group has an average rating of Buy and a consensus target price of $23.36.
RDN opened at $18.98 on Friday. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.48 and a current ratio of 1.48. Radian Group has a 1-year low of $14.06 and a 1-year high of $23.49. The company has a market capitalization of $4.05 billion, a price-to-earnings ratio of 10.43, a price-to-earnings-growth ratio of 1.45 and a beta of 1.45.
Radian Group (NYSE:RDN) last released its quarterly earnings results on Wednesday, October 31st. The insurance provider reported $0.71 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.63 by $0.08. Radian Group had a net margin of 37.56% and a return on equity of 17.71%. The business had revenue of $330.70 million for the quarter, compared to the consensus estimate of $334.59 million. During the same period last year, the firm earned $0.46 earnings per share. The company’s quarterly revenue was up 6.0% on a year-over-year basis. On average, equities analysts anticipate that Radian Group will post 2.61 EPS for the current year.
Radian Group announced that its Board of Directors has approved a stock buyback plan on Thursday, August 16th that permits the company to buyback $100.00 million in outstanding shares. This buyback authorization permits the insurance provider to repurchase up to 2.4% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s board of directors believes its shares are undervalued.
Hedge funds have recently made changes to their positions in the company. Meeder Asset Management Inc. bought a new stake in shares of Radian Group during the 3rd quarter valued at $106,000. Moneta Group Investment Advisors LLC raised its position in shares of Radian Group by 102.0% during the 2nd quarter. Moneta Group Investment Advisors LLC now owns 8,615 shares of the insurance provider’s stock valued at $140,000 after purchasing an additional 4,350 shares during the period. NumerixS Investment Technologies Inc bought a new stake in shares of Radian Group during the 2nd quarter valued at $151,000. Quantum Capital Management bought a new stake in shares of Radian Group during the 2nd quarter valued at $179,000. Finally, Creative Planning bought a new stake in shares of Radian Group during the 3rd quarter valued at $229,000. Hedge funds and other institutional investors own 91.34% of the company’s stock.
About Radian Group
Radian Group Inc, through its subsidiaries, provides mortgage and real estate products and services in the United States. It operates through two segments, Mortgage Insurance and Services. The Mortgage Insurance segment offers credit-related insurance coverage, primarily through private mortgage insurance, as well as other credit risk management solutions to mortgage lending institutions; and primary mortgage insurance coverage on residential first-lien mortgage loans.
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