Radian Group (NYSE:RDN) Releases Quarterly Earnings Results, Misses Estimates By $0.20 EPS

Radian Group (NYSE:RDN) issued its quarterly earnings results on Wednesday. The insurance provider reported $1.14 EPS for the quarter, missing analysts’ consensus estimates of $1.34 by ($0.20), Zacks reports. The business had revenue of $580.75 million for the quarter, compared to analyst estimates of $556.55 million. Radian Group had a net margin of 32.60% and a return on equity of 13.69%. Radian Group’s revenue for the quarter was up 92.3% on a year-over-year basis. During the same period last year, the business posted $1.01 earnings per share.

Radian Group Trading Up 1.7%

RDN stock traded up $0.62 during mid-day trading on Friday, reaching $36.88. 240,371 shares of the stock traded hands, compared to its average volume of 1,328,578. Radian Group has a 52-week low of $31.50 and a 52-week high of $41.05. The stock’s fifty day moving average is $36.85 and its 200-day moving average is $35.25. The company has a market cap of $4.90 billion, a P/E ratio of 9.48, a P/E/G ratio of 0.99 and a beta of 0.72. The company has a current ratio of 0.58, a quick ratio of 0.58 and a debt-to-equity ratio of 0.16.

Radian Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 17th. Investors of record on Tuesday, June 2nd were paid a $0.255 dividend. The ex-dividend date of this dividend was Tuesday, June 2nd. This represents a $1.02 dividend on an annualized basis and a yield of 2.8%. Radian Group’s dividend payout ratio (DPR) is currently 25.12%.

Wall Street Analyst Weigh In

RDN has been the topic of a number of recent analyst reports. Barclays boosted their price target on shares of Radian Group from $37.00 to $39.00 and gave the stock an “equal weight” rating in a research report on Monday, May 11th. Bank of America raised Radian Group from an “underperform” rating to a “buy” rating and boosted their target price for the stock from $35.00 to $43.00 in a report on Wednesday, April 29th. Weiss Ratings restated a “buy (b)” rating on shares of Radian Group in a research report on Tuesday, June 16th. Royal Bank Of Canada assumed coverage on Radian Group in a research note on Friday, May 22nd. They set an “outperform” rating and a $47.00 price target for the company. Finally, Wall Street Zen raised Radian Group from a “hold” rating to a “buy” rating in a research note on Saturday, August 1st. Five investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $43.17.

Insider Activity

In other Radian Group news, Director Noel Joseph Spiegel sold 4,834 shares of Radian Group stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $36.19, for a total transaction of $174,942.46. Following the transaction, the director directly owned 20,008 shares in the company, valued at approximately $724,089.52. The trade was a 19.46% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Margaret Anne Leyden sold 2,070 shares of the business’s stock in a transaction on Friday, May 29th. The shares were sold at an average price of $34.59, for a total transaction of $71,601.30. Following the sale, the director directly owned 6,864 shares in the company, valued at approximately $237,425.76. This trade represents a 23.17% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last 90 days, insiders sold 15,516 shares of company stock worth $557,576. Company insiders own 2.03% of the company’s stock.

Hedge Funds Weigh In On Radian Group

Several institutional investors and hedge funds have recently bought and sold shares of the business. Mercer Global Advisors Inc. ADV lifted its stake in Radian Group by 0.9% in the 3rd quarter. Mercer Global Advisors Inc. ADV now owns 33,365 shares of the insurance provider’s stock valued at $1,208,000 after acquiring an additional 288 shares in the last quarter. Smartleaf Asset Management LLC lifted its position in shares of Radian Group by 14.6% in the second quarter. Smartleaf Asset Management LLC now owns 2,696 shares of the insurance provider’s stock worth $97,000 after purchasing an additional 344 shares in the last quarter. HighTower Advisors LLC boosted its holdings in Radian Group by 6.1% during the fourth quarter. HighTower Advisors LLC now owns 6,060 shares of the insurance provider’s stock worth $218,000 after purchasing an additional 349 shares during the last quarter. Jones Financial Companies Lllp boosted its holdings in Radian Group by 14.8% during the first quarter. Jones Financial Companies Lllp now owns 2,764 shares of the insurance provider’s stock worth $91,000 after purchasing an additional 357 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. grew its position in Radian Group by 178.9% in the third quarter. Northwestern Mutual Wealth Management Co. now owns 742 shares of the insurance provider’s stock valued at $27,000 after purchasing an additional 476 shares in the last quarter. Hedge funds and other institutional investors own 95.33% of the company’s stock.

Radian Group Company Profile

Radian Group Inc (NYSE:RDN) is a leading provider of private mortgage insurance and related risk management solutions in the United States. Through its primary subsidiary, Radian Guaranty Inc, the company underwrites borrower-paid and lender-paid mortgage insurance that protects lenders and investors from potential losses arising from borrower defaults. Radian’s core business focuses on supporting residential mortgage originations and servicing by offering capital-efficient credit protection and credit risk transfer strategies.

Beyond mortgage insurance, Radian offers an array of real estate transaction services under its Radian Title division.