Radian Group Inc. (RDN) Now Covered by Bank of America Corp.
Equities researchers at Bank of America Corp. assumed coverage on shares of Radian Group Inc. (NYSE:RDN) in a report issued on Monday. The brokerage set a “buy” rating on the stock.
A number of other analysts also recently commented on the stock. Zacks Investment Research upgraded shares of Radian Group from a “hold” rating to a “buy” rating and set a $10.00 target price on the stock in a report on Tuesday, June 28th. TheStreet upgraded shares of Radian Group from a “hold” rating to a “buy” rating in a report on Thursday, August 11th. BTIG Research reiterated a “buy” rating and issued a $22.00 target price on shares of Radian Group in a report on Wednesday, July 6th. Finally, FBR & Co upgraded shares of Radian Group from a “market perform” rating to an “outperform” rating and set a $14.00 target price on the stock in a report on Thursday, June 30th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and ten have assigned a buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $16.75.
Radian Group (NYSE:RDN) opened at 13.74 on Monday. The firm has a market cap of $2.95 billion, a price-to-earnings ratio of 10.30 and a beta of 2.01. Radian Group has a one year low of $9.29 and a one year high of $16.86. The firm has a 50 day moving average of $13.62 and a 200-day moving average of $12.41.
Radian Group (NYSE:RDN) last released its quarterly earnings results on Thursday, July 28th. The company reported $0.38 EPS for the quarter, hitting analysts’ consensus estimates of $0.38. Radian Group had a net margin of 25.42% and a return on equity of 12.64%. The company had revenue of $330.20 million for the quarter, compared to the consensus estimate of $224.68 million. During the same period in the previous year, the firm earned $0.40 EPS. Equities research analysts forecast that Radian Group will post $1.54 EPS for the current fiscal year.
In other news, EVP Derek Brummer purchased 16,000 shares of the business’s stock in a transaction dated Wednesday, August 10th. The shares were acquired at an average price of $12.87 per share, for a total transaction of $205,920.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 1.83% of the company’s stock.
A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. FFT Wealth Management LLC increased its position in shares of Radian Group by 5.5% in the first quarter. FFT Wealth Management LLC now owns 41,072 shares of the company’s stock worth $509,000 after buying an additional 2,128 shares during the last quarter. AMP Capital Investors Ltd bought a new position in shares of Radian Group during the first quarter worth approximately $473,000. Renaissance Technologies LLC increased its position in shares of Radian Group by 19.8% in the first quarter. Renaissance Technologies LLC now owns 1,171,300 shares of the company’s stock worth $14,524,000 after buying an additional 193,300 shares during the last quarter. HBK Investments L P increased its position in shares of Radian Group by 316.9% in the first quarter. HBK Investments L P now owns 64,197 shares of the company’s stock worth $796,000 after buying an additional 48,797 shares during the last quarter. Finally, Geode Capital Management LLC increased its position in shares of Radian Group by 14.0% in the first quarter. Geode Capital Management LLC now owns 1,419,498 shares of the company’s stock worth $17,601,000 after buying an additional 174,324 shares during the last quarter. 93.34% of the stock is currently owned by hedge funds and other institutional investors.
Radian Group Company Profile
Radian Group Inc is a 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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