Radian Group Inc. (RDN) Receives Average Rating of “Buy” from Analysts
Radian Group Inc. (NYSE:RDN) has been given an average rating of “Buy” by the eleven research firms that are currently covering the firm, Marketbeat reports. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $20.86.
A number of research analysts have recently commented on RDN shares. Keefe, Bruyette & Woods reiterated a “buy” rating and set a $21.00 price target on shares of Radian Group in a report on Friday, April 28th. Zacks Investment Research lowered Radian Group from a “buy” rating to a “hold” rating in a report on Friday, April 28th. Deutsche Bank AG cut their price target on Radian Group from $22.00 to $21.00 and set a “buy” rating for the company in a report on Friday, April 28th. ValuEngine upgraded Radian Group from a “buy” rating to a “strong-buy” rating in a report on Wednesday, June 7th. Finally, BidaskClub upgraded Radian Group from a “sell” rating to a “hold” rating in a report on Tuesday, June 13th.
Several hedge funds and other institutional investors have recently modified their holdings of RDN. FMR LLC raised its position in shares of Radian Group by 0.3% in the first quarter. FMR LLC now owns 19,336,037 shares of the insurance provider’s stock worth $347,275,000 after buying an additional 59,116 shares during the last quarter. Vanguard Group Inc. raised its position in shares of Radian Group by 5.3% in the first quarter. Vanguard Group Inc. now owns 17,256,354 shares of the insurance provider’s stock worth $309,923,000 after buying an additional 876,181 shares during the last quarter. BlackRock Inc. raised its position in shares of Radian Group by 24,173.9% in the first quarter. BlackRock Inc. now owns 14,125,455 shares of the insurance provider’s stock worth $253,692,000 after buying an additional 14,067,263 shares during the last quarter. State Street Corp raised its position in shares of Radian Group by 7.3% in the first quarter. State Street Corp now owns 7,682,263 shares of the insurance provider’s stock worth $137,976,000 after buying an additional 524,837 shares during the last quarter. Finally, Investec Asset Management LTD raised its position in shares of Radian Group by 377.1% in the first quarter. Investec Asset Management LTD now owns 5,731,122 shares of the insurance provider’s stock worth $102,931,000 after buying an additional 4,529,893 shares during the last quarter. Institutional investors and hedge funds own 93.09% of the company’s stock.
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Radian Group (NYSE:RDN) traded down 0.4327% during midday trading on Tuesday, hitting $17.6035. 715,409 shares of the company traded hands. Radian Group has a 12-month low of $12.56 and a 12-month high of $19.87. The stock has a 50 day moving average price of $17.04 and a 200-day moving average price of $17.71. The company has a market cap of $3.79 billion, a PE ratio of 20.1644 and a beta of 1.61.
Radian Group (NYSE:RDN) last announced its earnings results on Tuesday, August 1st. The insurance provider reported $0.48 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.40 by $0.08. The firm had revenue of $302.91 million during the quarter, compared to analysts’ expectations of $299.07 million. Radian Group had a return on equity of 12.84% and a net margin of 16.26%. The company’s revenue was up 4.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.38 earnings per share. Analysts expect that Radian Group will post $1.70 EPS for the current year.
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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