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

Radian Group (NYSE:RDN) issued its quarterly earnings results on Tuesday. The insurance provider reported $1.15 EPS for the quarter, topping analysts’ consensus estimates of $0.95 by $0.20, Zacks reports. Radian Group had a return on equity of 13.25% and a net margin of 45.62%.The business’s revenue was down 3.3% on a year-over-year basis. During the same period in the previous year, the company posted $1.03 EPS.

Radian Group Price Performance

Shares of RDN stock traded up $0.16 during mid-day trading on Tuesday, hitting $34.26. The company had a trading volume of 1,252,598 shares, compared to its average volume of 1,331,035. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.68 and a quick ratio of 1.68. The company has a market capitalization of $4.64 billion, a P/E ratio of 8.63 and a beta of 0.73. The stock’s 50 day moving average price is $34.77 and its 200-day moving average price is $34.31. Radian Group has a 52-week low of $29.32 and a 52-week high of $38.84.

Radian Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 9th. Stockholders of record on Monday, August 25th were issued a $0.255 dividend. This represents a $1.02 annualized dividend and a dividend yield of 3.0%. The ex-dividend date of this dividend was Monday, August 25th. Radian Group’s payout ratio is 25.69%.

Insider Activity

In related news, EVP Edward J. Hoffman sold 10,000 shares of the business’s stock in a transaction dated Thursday, September 18th. The stock was sold at an average price of $37.00, for a total value of $370,000.00. Following the sale, the executive vice president directly owned 153,708 shares in the company, valued at approximately $5,687,196. The trade was a 6.11% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 2.01% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the business. Jones Financial Companies Lllp grew its stake in shares of Radian Group by 14.8% in the 1st quarter. Jones Financial Companies Lllp now owns 2,764 shares of the insurance provider’s stock worth $91,000 after buying an additional 357 shares in the last quarter. Geneos Wealth Management Inc. boosted its holdings in shares of Radian Group by 191.3% in the 1st quarter. Geneos Wealth Management Inc. now owns 871 shares of the insurance provider’s stock worth $29,000 after purchasing an additional 572 shares during the period. EverSource Wealth Advisors LLC increased its position in shares of Radian Group by 94.0% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,860 shares of the insurance provider’s stock valued at $67,000 after purchasing an additional 901 shares during the last quarter. Walleye Capital LLC purchased a new position in Radian Group during the second quarter worth $239,000. Finally, Marshall Wace LLP bought a new position in Radian Group during the second quarter valued at $452,000. 95.33% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the company. Zacks Research upgraded Radian Group from a “hold” rating to a “strong-buy” rating in a report on Monday, September 22nd. Keefe, Bruyette & Woods downgraded shares of Radian Group from a “moderate buy” rating to a “hold” rating and set a $38.00 price objective on the stock. in a research report on Monday, July 7th. Weiss Ratings cut shares of Radian Group from a “buy (a-)” rating to a “buy (b)” rating in a report on Saturday, October 25th. Barclays upped their price target on Radian Group from $35.00 to $37.00 and gave the company a “cautious” rating in a report on Monday, October 6th. Finally, UBS Group dropped their target price on shares of Radian Group from $43.00 to $40.00 and set a “neutral” rating on the stock in a report on Wednesday, October 15th. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $38.00.

About Radian Group

Radian Group Inc, together with its subsidiaries, engages in the mortgage and real estate services business in the United States. It operates through two segments, Mortgage Insurance and Homegenius segments. The Mortgage Insurance segment aggregates, manages, and distributes U.S. mortgage credit risk for mortgage lending institutions and mortgage credit investors, through private mortgage insurance on residential first-lien mortgage loans; and other credit risk management solutions, including contract underwriting.