Radian Group Inc. (RDN) Now Covered by Bank of America Corp.
Equities research analysts at Bank of America Corp. began coverage on shares of Radian Group Inc. (NYSE:RDN) in a research note issued on Monday, The Fly reports. The brokerage set a “buy” rating on the stock.
Other research analysts have also issued research reports about the stock. TheStreet raised shares of Radian Group from a “hold” rating to a “buy” rating in a research note on Thursday, August 11th. BTIG Research reaffirmed a “buy” rating on shares of Radian Group in a research note on Friday, July 22nd. Zacks Investment Research lowered shares of Radian Group from a “strong-buy” rating to a “hold” rating in a research note on Thursday, July 14th. Finally, FBR & Co raised their target price on shares of Radian Group from $14.00 to $16.00 and gave the company an “outperform” rating in a research note on Friday, July 29th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and ten have assigned a buy rating to the company. Radian Group presently has an average rating of “Buy” and a consensus target price of $16.75.
Radian Group (NYSE:RDN) opened at 13.74 on Monday. Radian Group has a 12 month low of $9.29 and a 12 month high of $16.86. The company’s 50-day moving average is $13.62 and its 200-day moving average is $12.41. The stock has a market capitalization of $2.95 billion, a P/E ratio of 10.30 and a beta of 2.01.
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Radian Group (NYSE:RDN) last issued its earnings results on Thursday, July 28th. The company reported $0.38 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.38. The company had revenue of $330.20 million for the quarter, compared to analyst estimates of $224.68 million. Radian Group had a net margin of 25.42% and a return on equity of 12.64%. During the same quarter last year, the firm earned $0.40 EPS. Equities analysts anticipate that Radian Group will post $1.54 earnings per share for the current year.
In related news, EVP Derek Brummer bought 16,000 shares of the company’s stock in a transaction on Wednesday, August 10th. The shares were purchased at an average cost of $12.87 per share, for a total transaction of $205,920.00. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. 1.83% of the stock is currently owned by corporate insiders.
A number of hedge funds have recently made changes to their positions in the company. Virginia Retirement System bought a new stake in shares of Radian Group during the first quarter valued at approximately $284,000. Teachers Advisors Inc. increased its stake in shares of Radian Group by 193.9% in the first quarter. Teachers Advisors Inc. now owns 1,426,969 shares of the company’s stock valued at $17,694,000 after buying an additional 941,411 shares during the period. Prudential Financial Inc. increased its stake in shares of Radian Group by 83.4% in the first quarter. Prudential Financial Inc. now owns 986,217 shares of the company’s stock valued at $12,229,000 after buying an additional 448,500 shares during the period. State Street Corp increased its stake in shares of Radian Group by 11.6% in the first quarter. State Street Corp now owns 6,701,250 shares of the company’s stock valued at $83,095,000 after buying an additional 699,185 shares during the period. Finally, UBS Group AG increased its stake in shares of Radian Group by 6.1% in the first quarter. UBS Group AG now owns 200,513 shares of the company’s stock valued at $2,486,000 after buying an additional 11,465 shares during the period. Hedge funds and other institutional investors own 93.34% of the company’s stock.
About Radian Group
Radian Group Inc is a 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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