Radian Group Inc (RDN) Receives Consensus Rating of “Buy” from Analysts
Shares of Radian Group Inc (NYSE:RDN) have received an average recommendation of “Buy” from the fifteen analysts that are covering the firm, MarketBeat.com reports. Five research analysts have rated the stock with a hold rating and nine have issued a buy rating on the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $23.11.
A number of brokerages have commented on RDN. Bank of America boosted their price objective on Radian Group from $13.00 to $23.00 and gave the stock a “buy” rating in a research note on Monday, August 13th. B. Riley boosted their price objective on Radian Group from $20.00 to $24.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 7th. TheStreet upgraded Radian Group from a “c+” rating to a “b-” rating in a research note on Tuesday, July 31st. Royal Bank of Canada restated a “hold” rating and set a $21.00 price objective on shares of Radian Group in a research note on Friday, July 27th. Finally, ValuEngine upgraded Radian Group from a “sell” rating to a “hold” rating in a research note on Thursday, July 19th.
Several large investors have recently added to or reduced their stakes in the stock. California Public Employees Retirement System lifted its stake in shares of Radian Group by 33.2% in the second quarter. California Public Employees Retirement System now owns 610,938 shares of the insurance provider’s stock worth $9,909,000 after acquiring an additional 152,419 shares in the last quarter. Glenmede Trust Co. NA lifted its stake in shares of Radian Group by 3.7% in the second quarter. Glenmede Trust Co. NA now owns 3,025,926 shares of the insurance provider’s stock worth $49,081,000 after acquiring an additional 107,911 shares in the last quarter. Sentinel Trust Co. LBA acquired a new position in shares of Radian Group in the second quarter worth about $788,000. Moneta Group Investment Advisors LLC lifted its stake in shares of Radian Group by 102.0% in the second quarter. Moneta Group Investment Advisors LLC now owns 8,615 shares of the insurance provider’s stock worth $140,000 after acquiring an additional 4,350 shares in the last quarter. Finally, Millennium Management LLC lifted its stake in shares of Radian Group by 45.8% in the second quarter. Millennium Management LLC now owns 1,220,457 shares of the insurance provider’s stock worth $19,796,000 after acquiring an additional 383,357 shares in the last quarter. Institutional investors and hedge funds own 90.96% of the company’s stock.
Radian Group (NYSE:RDN) last issued its quarterly earnings data on Thursday, July 26th. The insurance provider reported $0.69 EPS for the quarter, topping the Zacks’ consensus estimate of $0.60 by $0.09. The company had revenue of $319.30 million for the quarter, compared to analysts’ expectations of $320.34 million. Radian Group had a return on equity of 16.10% and a net margin of 31.87%. The firm’s quarterly revenue was up 5.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.48 earnings per share. research analysts anticipate that Radian Group will post 2.49 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 7th. Investors of record on Monday, August 27th will be paid a $0.0025 dividend. This represents a $0.01 annualized dividend and a dividend yield of 0.05%. The ex-dividend date is Friday, August 24th. Radian Group’s dividend payout ratio (DPR) is 0.55%.
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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