Radian Group Inc. (NYSE:RDN) – Equities researchers at B. Riley upped their FY2021 earnings per share estimates for shares of Radian Group in a research note issued to investors on Wednesday, October 13th. B. Riley analyst C. Johnson now expects that the insurance provider will post earnings of $2.85 per share for the year, up from their previous estimate of $2.80. B. Riley has a “Buy” rating and a $31.00 price objective on the stock. B. Riley also issued estimates for Radian Group’s FY2022 earnings at $3.20 EPS.
Radian Group (NYSE:RDN) last issued its quarterly earnings data on Tuesday, August 3rd. The insurance provider reported $0.75 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.70 by $0.05. Radian Group had a return on equity of 12.44% and a net margin of 39.97%. The business had revenue of $291.87 million during the quarter, compared to analyst estimates of $313.20 million.
Shares of RDN opened at $23.91 on Thursday. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.06 and a current ratio of 1.06. The stock has a 50 day simple moving average of $23.07 and a 200 day simple moving average of $23.05. Radian Group has a 52-week low of $16.70 and a 52-week high of $25.31. The firm has a market capitalization of $4.44 billion, a PE ratio of 8.24, a P/E/G ratio of 1.56 and a beta of 1.45.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Thrivent Financial for Lutherans grew its holdings in shares of Radian Group by 3.9% during the 2nd quarter. Thrivent Financial for Lutherans now owns 3,729,059 shares of the insurance provider’s stock worth $82,972,000 after purchasing an additional 138,868 shares in the last quarter. Virtu Financial LLC acquired a new stake in shares of Radian Group during the 2nd quarter worth $336,000. Morgan Stanley grew its holdings in shares of Radian Group by 19.4% during the 2nd quarter. Morgan Stanley now owns 2,046,534 shares of the insurance provider’s stock worth $45,535,000 after purchasing an additional 332,203 shares in the last quarter. Weld Capital Management LLC acquired a new stake in shares of Radian Group during the 2nd quarter worth $389,000. Finally, Brookfield Asset Management Inc. grew its holdings in shares of Radian Group by 20.7% during the 2nd quarter. Brookfield Asset Management Inc. now owns 51,517 shares of the insurance provider’s stock worth $1,146,000 after purchasing an additional 8,819 shares in the last quarter. 97.24% of the stock is currently owned by institutional investors.
In related news, EVP Edward J. Hoffman sold 3,333 shares of the stock in a transaction on Friday, October 1st. The stock was sold at an average price of $22.81, for a total value of $76,025.73. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Edward J. Hoffman sold 14,364 shares of the stock in a transaction on Thursday, September 2nd. The stock was sold at an average price of $23.44, for a total value of $336,692.16. The disclosure for this sale can be found here. 1.36% of the stock is currently owned by corporate insiders.
The firm also recently declared a quarterly dividend, which was paid on Thursday, September 2nd. Investors of record on Monday, August 23rd were paid a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a yield of 2.34%. The ex-dividend date was Friday, August 20th. Radian Group’s dividend payout ratio (DPR) is presently 32.18%.
About Radian Group
Radian Group, Inc is a holding company, which engages in the provision of mortgage insurance, risk management products, and real estate services to financial institutions. It operates through the Mortgage and Real Estate segments. The Mortgage segment offers credit-related insurance coverage, as well as other credit risk management solutions to mortgage lending institutions and mortgage credit investors.
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