Shares of Radian Group Inc (NYSE:RDN) fell 7.2% during mid-day trading on Tuesday . The company traded as low as $17.21 and last traded at $17.46. 1,928,331 shares traded hands during mid-day trading, an increase of 25% from the average session volume of 1,548,577 shares. The stock had previously closed at $18.81.
A number of research firms recently issued reports on RDN. ValuEngine downgraded Radian Group from a “hold” rating to a “sell” rating in a research report on Wednesday, November 21st. Compass Point set a $26.00 target price on Radian Group and gave the company a “buy” rating in a research report on Thursday, November 1st. Bank of America lifted their target price on Radian Group from $13.00 to $23.00 and gave the company a “buy” rating in a research report on Monday, August 13th. Finally, B. Riley lifted their target price on Radian Group from $20.00 to $24.00 and gave the company a “neutral” rating in a research report on Tuesday, August 7th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and eight have given a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $23.36.
The company has a quick ratio of 1.53, a current ratio of 1.53 and a debt-to-equity ratio of 0.31. The stock has a market cap of $3.93 billion, a PE ratio of 9.59, a PEG ratio of 1.41 and a beta of 1.46.
Radian Group (NYSE:RDN) last released its earnings results on Wednesday, October 31st. The insurance provider reported $0.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.63 by $0.08. The business had revenue of $330.70 million for the quarter, compared to the consensus estimate of $334.59 million. Radian Group had a return on equity of 17.34% and a net margin of 37.56%. Radian Group’s quarterly revenue was up 6.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.46 earnings per share. Equities research analysts predict that Radian Group Inc will post 2.66 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 7th. Shareholders of record on Monday, November 26th will be given a dividend of $0.0025 per share. This represents a $0.01 dividend on an annualized basis and a yield of 0.06%. The ex-dividend date is Friday, November 23rd. Radian Group’s dividend payout ratio (DPR) is presently 0.55%.
Radian Group declared that its Board of Directors has authorized a share repurchase program on Thursday, August 16th that allows the company to buyback $100.00 million in outstanding shares. This buyback authorization allows the insurance provider to reacquire up to 2.4% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.
A number of hedge funds and other institutional investors have recently made changes to their positions in RDN. Principal Financial Group Inc. increased its position in Radian Group by 39.6% during the first quarter. Principal Financial Group Inc. now owns 31,986 shares of the insurance provider’s stock worth $609,000 after buying an additional 9,070 shares during the last quarter. New York State Teachers Retirement System acquired a new position in Radian Group during the second quarter worth approximately $311,000. Connor Clark & Lunn Investment Management Ltd. acquired a new position in Radian Group during the second quarter worth approximately $1,951,000. Virginia Retirement Systems ET AL increased its position in Radian Group by 11.5% during the second quarter. Virginia Retirement Systems ET AL now owns 56,400 shares of the insurance provider’s stock worth $915,000 after buying an additional 5,800 shares during the last quarter. Finally, Sei Investments Co. increased its position in Radian Group by 0.7% during the second quarter. Sei Investments Co. now owns 477,155 shares of the insurance provider’s stock worth $7,740,000 after buying an additional 3,235 shares during the last quarter. 91.67% of the stock is currently owned by hedge funds and other institutional investors.
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About Radian Group (NYSE:RDN)
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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