Radian Group Inc. (RDN) Upgraded to Buy at Zacks Investment Research
Zacks Investment Research upgraded shares of Radian Group Inc. (NYSE:RDN) from a hold rating to a buy rating in a research report report published on Friday. Zacks Investment Research currently has $17.00 price target on the stock.
According to Zacks, “Radian Group is poised for long-term growth on expansive mortgage and real estate service offerings, declining delinquency, lower levels of paid claims and improving risk-based capital ratio. The company is on track to return to investment grade ratings with recent upgrade for Radian group and Radian Guaranty from S&P. Its initiatives to solidify the financial position and improved debt maturity profile bode well. However, stricter regulations, rising mortgage rates and a competitive market pose risks for the company. With respect to quarterly results, Radian Group’s third-quarter 2016 earnings outperformed the Zacks Consensus Estimate and also improved year over year. Notably, the company witnessed the highest volume of new flow mortgage insurance business written in the third quarter of 2016.”
Several other equities research analysts have also commented on the stock. FBR & Co reiterated a buy rating on shares of Radian Group in a research report on Friday, October 28th. Compass Point lowered shares of Radian Group from a buy rating to a neutral rating and set a $17.00 price objective on the stock. in a research report on Friday, October 28th. Bank of America Corp. began coverage on shares of Radian Group in a report on Monday, October 17th. They issued a buy rating and a $18.00 target price on the stock. BTIG Research set a $22.00 target price on shares of Radian Group and gave the company a buy rating in a report on Thursday, September 15th. Finally, TheStreet upgraded shares of Radian Group from a hold rating to a buy rating in a report on Thursday, August 11th. Three analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Radian Group currently has a consensus rating of Buy and an average price target of $17.13.
Shares of Radian Group (NYSE:RDN) traded up 0.307% on Friday, reaching $14.715. 559,682 shares of the company’s stock traded hands. The stock’s 50-day moving average price is $13.88 and its 200-day moving average price is $12.72. Radian Group has a 52 week low of $9.29 and a 52 week high of $14.88. The stock has a market capitalization of $3.16 billion, a price-to-earnings ratio of 10.421 and a beta of 2.30.
Radian Group (NYSE:RDN) last released its quarterly earnings data on Thursday, October 27th. The company reported $0.41 EPS for the quarter, topping the consensus estimate of $0.40 by $0.01. Radian Group had a net margin of 25.97% and a return on equity of 12.73%. The business had revenue of $320.88 million for the quarter, compared to analyst estimates of $229.12 million. During the same period in the previous year, the firm earned $0.31 EPS. The business’s revenue for the quarter was up 7.9% compared to the same quarter last year. Equities analysts predict that Radian Group will post $1.55 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, December 5th. Investors of record on Monday, November 21st will be given a dividend of $0.0025 per share. This represents a $0.01 dividend on an annualized basis and a yield of 0.07%. The ex-dividend date of this dividend is Thursday, November 17th. Radian Group’s dividend payout ratio (DPR) is presently 0.70%.
A number of hedge funds have recently bought and sold shares of the company. Mackenzie Financial Corp increased its stake in Radian Group by 0.3% in the second quarter. Mackenzie Financial Corp now owns 83,251 shares of the company’s stock worth $867,000 after buying an additional 263 shares during the period. Genesee Valley Trust Co. boosted its position in Radian Group by 2.3% in the second quarter. Genesee Valley Trust Co. now owns 12,216 shares of the company’s stock worth $127,000 after buying an additional 274 shares in the last quarter. Principal Financial Group Inc. boosted its position in Radian Group by 1.7% in the third quarter. Principal Financial Group Inc. now owns 29,282 shares of the company’s stock worth $397,000 after buying an additional 501 shares in the last quarter. KCG Holdings Inc. boosted its position in Radian Group by 3.0% in the second quarter. KCG Holdings Inc. now owns 17,514 shares of the company’s stock worth $182,000 after buying an additional 517 shares in the last quarter. Finally, UBS Asset Management Americas Inc. boosted its position in Radian Group by 1.2% in the second quarter. UBS Asset Management Americas Inc. now owns 153,089 shares of the company’s stock worth $1,595,000 after buying an additional 1,846 shares in the last quarter. 93.54% of the stock is 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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