Radian Group (NYSE:RDN) Posts Quarterly Earnings Results, Beats Estimates By $0.24 EPS

Radian Group (NYSE:RDN) posted its quarterly earnings results on Wednesday. The insurance provider reported $1.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.20 by $0.24, Zacks reports. Radian Group had a net margin of 32.60% and a return on equity of 13.65%.

Radian Group Trading Up 2.2%

Shares of RDN stock traded up $0.78 on Wednesday, hitting $36.62. The stock had a trading volume of 1,024,678 shares, compared to its average volume of 1,371,570. Radian Group has a twelve month low of $30.53 and a twelve month high of $41.05. The company has a current ratio of 0.60, a quick ratio of 0.60 and a debt-to-equity ratio of 0.14. The firm has a market cap of $4.84 billion, a P/E ratio of 9.41, a PEG ratio of 0.90 and a beta of 0.69. The company has a fifty day moving average price of $34.80 and a two-hundred day moving average price of $35.22.

Radian Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 9th. Shareholders of record on Monday, August 24th were issued a $0.2550 dividend. The ex-dividend date was Monday, August 24th. This represents a $1.02 annualized dividend and a yield of 2.8%. Radian Group’s dividend payout ratio (DPR) is 26.22%.

Analyst Ratings Changes

A number of analysts have commented on RDN shares. Weiss Ratings lowered shares of Radian Group from a “buy (b+)” rating to a “buy (b)” rating in a research note on Tuesday, October 13th. Wall Street Zen downgraded shares of Radian Group from a “buy” rating to a “hold” rating in a research report on Saturday, October 10th. Barclays upped their price target on shares of Radian Group from $35.00 to $36.00 and gave the company an “equal weight” rating in a report on Monday, October 5th. BTIG Research began coverage on Radian Group in a report on Tuesday, September 22nd. They issued a “buy” rating and a $48.00 price target for the company. Finally, Keefe, Bruyette & Woods lowered their price target on Radian Group from $46.00 to $44.00 and set an “outperform” rating on the stock in a research report on Tuesday, August 11th. Six analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Radian Group currently has an average rating of “Moderate Buy” and an average target price of $43.14.

Insider Activity

In related news, EVP Meghan Bartholomew sold 7,812 shares of the stock in a transaction that occurred on Monday, September 14th. The stock was sold at an average price of $35.94, for a total transaction of $280,763.28. Following the completion of the sale, the executive vice president directly owned 39,203 shares of the company’s stock, valued at approximately $1,408,955.82. This represents a 16.62% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 2.03% of the company’s stock.

Radian Group Company Profile

Radian Group Inc (NYSE:RDN) is a financial services company that provides mortgage insurance and related services to the residential real estate industry. Through its mortgage insurance subsidiaries, including Radian Guaranty Inc, the company helps lenders manage credit risk on residential mortgages, particularly loans made to borrowers with smaller down payments. Its insurance can also help borrowers obtain home financing without contributing a traditional 20% down payment.

Radian’s mortgage insurance business serves mortgage lenders, banks, credit unions and other housing finance participants primarily in the United States.