Radian Group Inc. (RDN) Given a $22.00 Price Target at Susquehanna Bancshares Inc
RDN has been the topic of a number of other reports. Zacks Investment Research raised shares of Radian Group from a hold rating to a buy rating and set a $21.00 target price on the stock in a report on Tuesday, October 10th. ValuEngine raised shares of Radian Group from a buy rating to a strong-buy rating in a report on Tuesday, September 26th. BidaskClub cut shares of Radian Group from a hold rating to a sell rating in a report on Saturday, June 24th. Compass Point reaffirmed a neutral rating and issued a $21.25 target price on shares of Radian Group in a report on Saturday, October 14th. Finally, BTIG Research reaffirmed a buy rating and issued a $22.00 target price on shares of Radian Group in a report on Sunday, October 15th. One analyst has rated the stock with a sell rating, one has given a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. Radian Group has an average rating of Buy and an average target price of $21.91.
Radian Group (NYSE:RDN) opened at 20.47 on Monday. The company has a market capitalization of $4.41 billion, a price-to-earnings ratio of 23.50 and a beta of 1.51. The stock has a 50 day moving average price of $18.14 and a 200-day moving average price of $17.42. Radian Group has a 1-year low of $12.96 and a 1-year high of $20.55.
Radian Group (NYSE:RDN) last issued its earnings results on Tuesday, August 1st. The insurance provider reported $0.48 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.40 by $0.08. The company had revenue of $302.91 million for the quarter, compared to analysts’ expectations of $299.07 million. Radian Group had a net margin of 16.26% and a return on equity of 12.81%. Radian Group’s quarterly revenue was up 4.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.38 EPS. Equities analysts predict that Radian Group will post $1.72 earnings per share for the current year.
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Radian Group declared that its board has authorized a stock buyback plan on Wednesday, August 9th that authorizes the company to repurchase $50.00 million in outstanding shares. This repurchase authorization authorizes the insurance provider to repurchase up to 1.3% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s leadership believes its shares are undervalued.
In related news, CEO Richard G. Thornberry purchased 15,000 shares of the stock in a transaction on Friday, August 18th. The shares were purchased at an average cost of $16.78 per share, with a total value of $251,700.00. Following the acquisition, the chief executive officer now directly owns 15,000 shares in the company, valued at $251,700. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Richard G. Thornberry purchased 5,000 shares of the stock in a transaction on Monday, August 21st. The stock was bought at an average cost of $16.54 per share, for a total transaction of $82,700.00. Following the completion of the acquisition, the chief executive officer now owns 20,000 shares in the company, valued at $330,800. The disclosure for this purchase can be found here. 1.06% of the stock is owned by corporate insiders.
A number of institutional investors have recently added to or reduced their stakes in the business. Capital Returns Management LLC raised its holdings in Radian Group by 57.4% in the 2nd quarter. Capital Returns Management LLC now owns 1,525,537 shares of the insurance provider’s stock valued at $24,943,000 after acquiring an additional 556,352 shares during the period. Dynamic Technology Lab Private Ltd raised its holdings in Radian Group by 413.8% in the 2nd quarter. Dynamic Technology Lab Private Ltd now owns 78,138 shares of the insurance provider’s stock valued at $1,278,000 after acquiring an additional 62,929 shares during the period. Colony Group LLC raised its holdings in Radian Group by 0.7% in the 2nd quarter. Colony Group LLC now owns 133,918 shares of the insurance provider’s stock valued at $2,190,000 after acquiring an additional 898 shares during the period. Verition Fund Management LLC raised its holdings in Radian Group by 97.2% in the 2nd quarter. Verition Fund Management LLC now owns 46,399 shares of the insurance provider’s stock valued at $759,000 after acquiring an additional 22,873 shares during the period. Finally, Sterling Capital Management LLC raised its holdings in Radian Group by 3.0% in the 2nd quarter. Sterling Capital Management LLC now owns 265,653 shares of the insurance provider’s stock valued at $4,343,000 after acquiring an additional 7,633 shares during the period. 89.97% of the stock is currently owned by hedge funds and other institutional investors.
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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