Radian Group (NYSE:RDN) Lowered to “Hold” Rating by Zacks Research

Radian Group (NYSE:RDN) was downgraded by analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a report issued on Tuesday,Zacks.com reports.

Several other equities research analysts have also weighed in on RDN. Roth Capital reissued a “buy” rating and issued a $45.00 price objective on shares of Radian Group in a report on Friday, January 2nd. UBS Group cut their target price on shares of Radian Group from $43.00 to $40.00 and set a “neutral” rating for the company in a research report on Wednesday, October 15th. Barclays boosted their price target on shares of Radian Group from $35.00 to $37.00 and gave the company a “cautious” rating in a research report on Monday, October 6th. Keefe, Bruyette & Woods raised their price objective on shares of Radian Group from $40.00 to $41.00 and gave the stock a “market perform” rating in a report on Thursday, December 18th. Finally, Weiss Ratings reissued a “buy (a-)” rating on shares of Radian Group in a report on Monday, December 29th. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $40.00.

Radian Group Trading Down 0.8%

NYSE:RDN opened at $35.68 on Tuesday. Radian Group has a 12 month low of $29.32 and a 12 month high of $38.84. The company has a current ratio of 1.67, a quick ratio of 1.67 and a debt-to-equity ratio of 0.24. The firm’s 50 day moving average is $35.45 and its 200 day moving average is $34.98. The stock has a market capitalization of $4.83 billion, a PE ratio of 8.90 and a beta of 0.82.

Radian Group (NYSE:RDN) last announced its quarterly earnings data on Wednesday, November 5th. The insurance provider reported $1.15 earnings per share for the quarter, beating the consensus estimate of $0.95 by $0.20. The business had revenue of $303.19 million during the quarter, compared to analyst estimates of $308.77 million. Radian Group had a return on equity of 13.29% and a net margin of 45.90%.Radian Group’s revenue was down 3.3% compared to the same quarter last year. During the same period in the prior year, the company earned $1.03 earnings per share. Sell-side analysts expect that Radian Group will post 3.79 earnings per share for the current year.

Insider Transactions at Radian Group

In other Radian Group news, EVP Eric Ray sold 13,957 shares of the firm’s stock in a transaction on Tuesday, December 2nd. The shares were sold at an average price of $35.60, for a total value of $496,869.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 2.01% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Radian Group

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Norges Bank purchased a new position in Radian Group in the 2nd quarter worth approximately $85,785,000. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new stake in shares of Radian Group during the 2nd quarter worth $69,714,000. Jane Street Group LLC lifted its holdings in shares of Radian Group by 11,446.4% during the 1st quarter. Jane Street Group LLC now owns 1,310,517 shares of the insurance provider’s stock worth $43,339,000 after acquiring an additional 1,299,167 shares during the last quarter. Balyasny Asset Management L.P. grew its position in Radian Group by 151.7% in the third quarter. Balyasny Asset Management L.P. now owns 1,873,049 shares of the insurance provider’s stock worth $67,842,000 after acquiring an additional 1,128,852 shares in the last quarter. Finally, Millennium Management LLC bought a new position in Radian Group in the first quarter valued at $27,282,000. Hedge funds and other institutional investors own 95.33% of the company’s stock.

About Radian Group

Radian Group Inc (NYSE:RDN) is a leading provider of private mortgage insurance and related risk management solutions in the United States. Through its primary subsidiary, Radian Guaranty Inc, the company underwrites borrower-paid and lender-paid mortgage insurance that protects lenders and investors from potential losses arising from borrower defaults. Radian’s core business focuses on supporting residential mortgage originations and servicing by offering capital-efficient credit protection and credit risk transfer strategies.

Beyond mortgage insurance, Radian offers an array of real estate transaction services under its Radian Title division.