Radian Group Inc. (NYSE:RDN) was upgraded by equities research analysts at Compass Point from a “neutral” rating to a “buy” rating in a note issued to investors on Friday, October 27th, Marketbeat.com reports. The firm currently has a $24.75 price objective on the insurance provider’s stock, up from their prior price objective of $21.75. Compass Point’s price target points to a potential upside of 24.00% from the company’s previous close.
A number of other research analysts have also commented on RDN. Barclays PLC restated an “overweight” rating and issued a $24.00 target price (down from $25.00) on shares of Radian Group in a research note on Wednesday, August 2nd. BTIG Research reiterated a “buy” rating and issued a $22.00 price target on shares of Radian Group in a research report on Sunday, October 15th. Susquehanna Bancshares Inc set a $22.00 price target on Radian Group and gave the company a “buy” rating in a research report on Monday, October 16th. ValuEngine upgraded Radian Group from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, September 26th. Finally, FBR & Co reiterated a “buy” rating on shares of Radian Group in a research report on Thursday, October 26th. One investment analyst has rated the stock with a sell rating, two have given a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. Radian Group presently has a consensus rating of “Buy” and a consensus price target of $22.59.
Shares of Radian Group (RDN) traded up $0.29 during midday trading on Friday, hitting $19.96. The company had a trading volume of 1,608,700 shares, compared to its average volume of 1,676,159. 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 capitalization of $4,240.17, a price-to-earnings ratio of 11.44, a price-to-earnings-growth ratio of 2.24 and a beta of 1.59. Radian Group has a twelve month low of $13.62 and a twelve month high of $21.59.
Radian Group (NYSE:RDN) last issued its earnings results on Thursday, October 26th. The insurance provider reported $0.46 EPS for the quarter, beating analysts’ consensus estimates of $0.42 by $0.04. The business had revenue of $312.05 million during the quarter, compared to analyst estimates of $321.10 million. Radian Group had a return on equity of 12.99% and a net margin of 14.88%. Radian Group’s revenue was down 2.8% on a year-over-year basis. During the same period in the prior year, the company posted $0.41 earnings per share. equities analysts anticipate that Radian Group will post 1.76 EPS for the current year.
Radian Group announced that its Board of Directors has approved a stock repurchase program on Wednesday, August 9th that allows the company to buyback $50.00 million in outstanding shares. This buyback authorization allows the insurance provider to buy up to 1.3% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board believes its shares are undervalued.
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In other news, CEO Richard G. Thornberry purchased 5,000 shares of the business’s stock in a transaction dated Monday, August 21st. The shares were acquired at an average price of $16.54 per share, with a total value of $82,700.00. Following the completion of the purchase, the chief executive officer now directly owns 20,000 shares of the company’s stock, valued at approximately $330,800. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Richard G. Thornberry purchased 15,000 shares of the business’s stock in a transaction dated Friday, August 18th. The shares were purchased at an average cost of $16.78 per share, for a total transaction of $251,700.00. Following the purchase, the chief executive officer now directly owns 15,000 shares of the company’s stock, valued at $251,700. The disclosure for this purchase can be found here. 1.06% of the stock is currently owned by corporate insiders.
Institutional investors and hedge funds have recently modified their holdings of the company. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Radian Group by 11.5% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,781 shares of the insurance provider’s stock valued at $127,000 after buying an additional 803 shares during the period. Skba Capital Management LLC acquired a new position in Radian Group in the second quarter valued at about $170,000. Zacks Investment Management acquired a new position in Radian Group in the second quarter valued at about $175,000. ETRADE Capital Management LLC acquired a new position in Radian Group in the second quarter valued at about $183,000. Finally, Alpine Woods Capital Investors LLC lifted its stake in Radian Group by 9.5% in the second quarter. Alpine Woods Capital Investors LLC now owns 11,510 shares of the insurance provider’s stock valued at $188,000 after buying an additional 1,000 shares during the period. 91.34% of the stock is currently owned by institutional investors and hedge funds.
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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