Radian Group Inc. (RDN) Given Average Rating of “Buy” by Analysts
Radian Group Inc. (NYSE:RDN) has been given a consensus recommendation of “Buy” by the eleven research firms that are covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, seven have issued a buy rating and one has issued a strong buy rating on the company. The average 12-month price target among brokers that have covered the stock in the last year is $22.79.
RDN has been the subject of several analyst reports. Susquehanna Bancshares Inc set a $22.00 price objective on shares of Radian Group and gave the company a “buy” rating in a research note on Monday, October 16th. BTIG Research reiterated a “buy” rating and issued a $22.00 price objective on shares of Radian Group in a research note on Sunday, October 15th. Zacks Investment Research upgraded shares of Radian Group from a “hold” rating to a “buy” rating and set a $21.00 price objective for the company in a research note on Tuesday, October 10th. ValuEngine lowered shares of Radian Group from a “strong-buy” rating to a “buy” rating in a research note on Thursday, September 7th. Finally, Compass Point upgraded shares of Radian Group from a “neutral” rating to a “buy” rating and increased their price objective for the company from $21.75 to $24.75 in a research note on Friday, October 27th.
Radian Group (NYSE RDN) traded up $0.87 on Thursday, hitting $20.74. 1,909,600 shares of the company were exchanged, compared to its average volume of 1,673,221. The company has a quick ratio of 1.23, a current ratio of 1.23 and a debt-to-equity ratio of 0.34. The firm has a market cap of $4,283.28, a price-to-earnings ratio of 11.55, a PEG ratio of 2.26 and a beta of 1.59. Radian Group has a 12 month low of $14.18 and a 12 month high of $21.59.
Radian Group (NYSE:RDN) last posted its quarterly earnings data on Thursday, October 26th. The insurance provider reported $0.46 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.42 by $0.04. The firm had revenue of $312.05 million during the quarter, compared to analyst estimates of $321.10 million. Radian Group had a net margin of 14.88% and a return on equity of 12.99%. The company’s revenue for the quarter was down 2.8% on a year-over-year basis. During the same quarter last year, the business posted $0.41 EPS. sell-side analysts predict that Radian Group will post 1.76 earnings per share for the current fiscal year.
Radian Group declared that its Board of Directors has approved a stock buyback plan on Wednesday, August 9th that permits the company to repurchase $50.00 million in shares. This repurchase authorization permits the insurance provider to repurchase up to 1.3% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s board of directors believes its shares are undervalued.
The company also recently declared a quarterly dividend, which will be paid on Friday, December 8th. Shareholders of record on Monday, November 27th will be issued a $0.002 dividend. This represents a $0.01 annualized dividend and a yield of 0.04%. The ex-dividend date of this dividend is Friday, November 24th. Radian Group’s payout ratio is 1.28%.
In related news, CEO Richard G. Thornberry acquired 15,000 shares of the company’s stock in a transaction dated Friday, August 18th. The stock was bought 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 owns 15,000 shares of the company’s stock, valued at approximately $251,700. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Richard G. Thornberry acquired 5,000 shares of the company’s stock in a transaction dated Monday, August 21st. The shares were bought at an average cost of $16.54 per share, with a total value of $82,700.00. Following the completion of the acquisition, the chief executive officer now directly owns 20,000 shares in the company, valued at approximately $330,800. The disclosure for this purchase can be found here. 1.06% of the stock is owned by company insiders.
A number of large investors have recently modified their holdings of the stock. Vanguard Group Inc. raised its position in Radian Group by 5.0% in the 2nd quarter. Vanguard Group Inc. now owns 18,116,304 shares of the insurance provider’s stock worth $296,201,000 after purchasing an additional 859,950 shares during the period. LSV Asset Management raised its position in Radian Group by 0.6% in the 2nd quarter. LSV Asset Management now owns 10,409,782 shares of the insurance provider’s stock worth $170,199,000 after purchasing an additional 58,304 shares during the period. Northern Trust Corp increased its position in shares of Radian Group by 24.6% in the second quarter. Northern Trust Corp now owns 5,305,329 shares of the insurance provider’s stock valued at $86,742,000 after acquiring an additional 1,048,954 shares during the period. Capital World Investors increased its position in shares of Radian Group by 42.7% in the second quarter. Capital World Investors now owns 4,930,000 shares of the insurance provider’s stock valued at $80,606,000 after acquiring an additional 1,475,000 shares during the period. Finally, Boston Partners increased its position in shares of Radian Group by 2.7% in the third quarter. Boston Partners now owns 3,504,572 shares of the insurance provider’s stock valued at $65,500,000 after acquiring an additional 92,553 shares during the period. Institutional investors own 91.34% of the company’s stock.
About Radian Group
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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