Radian Group Inc. (RDN) Trading Down 1.2%
Radian Group Inc. (NYSE:RDN) was down 1.2% during mid-day trading on Friday . The company traded as low as $19.86 and last traded at $21.22. Approximately 2,525,806 shares were traded during trading, an increase of 52% from the average daily volume of 1,662,779 shares. The stock had previously closed at $20.96.
A number of equities research analysts recently issued reports on RDN shares. ValuEngine downgraded shares of Radian Group from a “strong-buy” rating to a “buy” rating in a research note on Thursday, September 7th. Zacks Investment Research downgraded shares of Radian Group from a “buy” rating to a “hold” rating in a research note on Monday, October 23rd. Compass Point raised shares of Radian Group from a “neutral” rating to a “buy” rating and increased their target price for the company from $21.75 to $24.75 in a research note on Friday, October 27th. Deutsche Bank AG downgraded shares of Radian Group from a “buy” rating to a “hold” rating and set a $23.00 target price on the stock. in a research note on Friday. Finally, BTIG Research reissued a “buy” rating and issued a $22.00 target price on shares of Radian Group in a research note on Sunday, October 29th. One research analyst has rated the stock with a sell rating, two have given a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $22.59.
The company has a market cap of $4,336.12, a P/E ratio of 11.71, a price-to-earnings-growth ratio of 2.31 and a beta of 1.59. The company has a current ratio of 1.21, a quick ratio of 1.21 and a debt-to-equity ratio of 0.34.
Radian Group (NYSE:RDN) last released its quarterly earnings results on Thursday, October 26th. The insurance provider reported $0.46 EPS for the quarter, topping the Zacks’ consensus estimate of $0.42 by $0.04. The business had revenue of $312.05 million for the quarter, compared to analyst estimates of $321.10 million. Radian Group had a return on equity of 13.09% and a net margin of 14.88%. Radian Group’s revenue for the quarter was down 2.8% on a year-over-year basis. During the same period in the prior year, the company earned $0.41 EPS. sell-side analysts expect that Radian Group Inc. will post 1.74 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 8th. Investors of record on Monday, November 27th will be given a dividend of $0.002 per share. The ex-dividend date of this dividend is Friday, November 24th. This represents a $0.01 dividend on an annualized basis and a yield of 0.04%. Radian Group’s dividend payout ratio (DPR) is presently 1.28%.
Radian Group announced that its board has approved a share buyback program on Wednesday, August 9th that allows the company to buyback $50.00 million in outstanding shares. This buyback authorization allows the insurance provider to repurchase up to 1.3% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board of directors believes its shares are undervalued.
In other Radian Group news, SVP Catherine Mary Jackson sold 17,130 shares of the stock in a transaction on Tuesday, August 15th. The stock was sold at an average price of $17.22, for a total value of $294,978.60. Following the transaction, the senior vice president now directly owns 80,720 shares in the company, valued at approximately $1,389,998.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Richard G. Thornberry acquired 15,000 shares of the firm’s stock in a transaction on Friday, August 18th. The stock was purchased at an average price of $16.78 per share, for a total transaction of $251,700.00. Following the completion of the transaction, the chief executive officer now directly owns 15,000 shares in the company, valued at approximately $251,700. The disclosure for this purchase can be found here. 1.06% of the stock is owned by corporate insiders.
A number of institutional investors and hedge funds have recently made changes to their positions in RDN. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Radian Group by 11.5% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,781 shares of the insurance provider’s stock valued at $127,000 after buying an additional 803 shares during the last quarter. Skba Capital Management LLC bought a new position in Radian Group in the 2nd quarter valued at $170,000. Zacks Investment Management bought a new position in Radian Group in the 2nd quarter valued at $175,000. ETRADE Capital Management LLC bought a new position in Radian Group in the 2nd quarter valued at $183,000. Finally, Alpine Woods Capital Investors LLC boosted its position in Radian Group by 9.5% in the 2nd quarter. Alpine Woods Capital Investors LLC now owns 11,510 shares of the insurance provider’s stock valued at $188,000 after buying an additional 1,000 shares during the last quarter. Hedge funds and other institutional investors own 90.37% of the company’s stock.
Radian Group Company Profile
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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