Radian Group (NYSE:RDN) Rating Lowered to Hold at Wall Street Zen

Radian Group (NYSE:RDN) was downgraded by equities research analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a research note issued to investors on Sunday.

Several other research analysts have also commented on RDN. Weiss Ratings restated a “buy (b)” rating on shares of Radian Group in a research report on Tuesday, June 16th. Bank of America upgraded Radian Group from an “underperform” rating to a “buy” rating and boosted their price objective for the company from $35.00 to $43.00 in a report on Wednesday, April 29th. Royal Bank Of Canada started coverage on Radian Group in a research note on Friday, May 22nd. They set an “outperform” rating and a $47.00 target price on the stock. Keefe, Bruyette & Woods raised their target price on Radian Group from $43.00 to $46.00 and gave the company an “outperform” rating in a report on Thursday, June 25th. Finally, Barclays lifted their target price on Radian Group from $37.00 to $39.00 and gave the company an “equal weight” rating in a research report on Monday, May 11th. Five investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, Radian Group currently has a consensus rating of “Moderate Buy” and an average target price of $42.50.

Radian Group Price Performance

Radian Group stock opened at $36.50 on Friday. The company’s 50 day simple moving average is $36.96 and its 200-day simple moving average is $35.30. The company has a market capitalization of $4.85 billion, a price-to-earnings ratio of 9.38, a price-to-earnings-growth ratio of 0.88 and a beta of 0.72. Radian Group has a 1 year low of $31.50 and a 1 year high of $41.05. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.58 and a current ratio of 0.41.

Radian Group (NYSE:RDN) last posted its quarterly earnings data on Wednesday, August 5th. The insurance provider reported $1.14 earnings per share for the quarter, missing analysts’ consensus estimates of $1.34 by ($0.20). Radian Group had a return on equity of 13.65% and a net margin of 32.60%.The company had revenue of $574.96 million for the quarter, compared to analysts’ expectations of $556.55 million. During the same period in the previous year, the business posted $1.01 EPS. The business’s revenue for the quarter was up 92.3% on a year-over-year basis. As a group, equities research analysts expect that Radian Group will post 4.93 earnings per share for the current year.

Insider Buying and Selling

In related news, Chairman Howard Bernard Culang sold 3,612 shares of the business’s stock in a transaction on Wednesday, May 27th. The stock was sold at an average price of $36.00, for a total transaction of $130,032.00. Following the completion of the transaction, the chairman directly owned 8,050 shares of the company’s stock, valued at $289,800. The trade was a 30.97% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Michael S. Weinbach bought 49,513 shares of the stock in a transaction that occurred on Tuesday, June 2nd. The shares were bought at an average cost of $34.04 per share, with a total value of $1,685,422.52. Following the completion of the purchase, the chief executive officer directly owned 170,000 shares in the company, valued at $5,786,800. This represents a 41.09% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders sold a total of 15,517 shares of company stock worth $557,610 over the last ninety days. Insiders own 2.03% of the company’s stock.

Hedge Funds Weigh In On Radian Group

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Denali Advisors LLC purchased a new stake in shares of Radian Group during the second quarter worth approximately $1,831,000. NewEdge Wealth LLC purchased a new position in Radian Group in the second quarter worth approximately $1,946,000. Bruni J V & Co. Co. purchased a new position in Radian Group in the second quarter worth approximately $59,355,376,000. Empirical Asset Management LLC acquired a new position in Radian Group during the 2nd quarter worth approximately $306,000. Finally, Great Lakes Advisors LLC acquired a new position in Radian Group during the 2nd quarter worth approximately $6,917,000. Hedge funds and other institutional investors own 95.33% of the company’s stock.

Radian Group Company Profile

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.