Radian Group Inc. (RDN) Stock Rating Lowered by ValuEngine
Radian Group Inc. (NYSE:RDN) was downgraded by equities researchers at ValuEngine from a “strong-buy” rating to a “buy” rating in a research note issued on Thursday.
RDN has been the subject of several other reports. Zacks Investment Research downgraded Radian Group from a “hold” rating to a “sell” rating in a report on Tuesday, July 4th. BidaskClub downgraded Radian Group from a “hold” rating to a “sell” rating in a report on Saturday, June 24th. Keefe, Bruyette & Woods restated a “buy” rating and set a $21.00 price objective on shares of Radian Group in a report on Tuesday, May 30th. Finally, Barclays PLC restated an “overweight” rating and set a $24.00 price objective (down from $25.00) on shares of Radian Group in a report on Wednesday, August 2nd. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating and seven have issued a buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $20.75.
Shares of Radian Group (NYSE RDN) traded down 2.60% during mid-day trading on Thursday, reaching $16.12. The company’s stock had a trading volume of 2,415,314 shares. Radian Group has a 12-month low of $12.96 and a 12-month high of $19.87. The stock has a market capitalization of $3.47 billion, a P/E ratio of 18.51 and a beta of 1.58. The company’s 50-day moving average price is $17.25 and its 200-day moving average price is $17.43.
Radian Group (NYSE:RDN) last announced its quarterly earnings results on Tuesday, August 1st. The insurance provider reported $0.48 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.40 by $0.08. The business had revenue of $302.91 million for the quarter, compared to analyst estimates of $299.07 million. Radian Group had a return on equity of 12.81% and a net margin of 16.26%. The company’s quarterly revenue was up 4.9% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.38 EPS. On average, equities research analysts forecast that Radian Group will post $1.72 earnings per share for the current fiscal year.
Radian Group announced that its board has authorized 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 an indication that the company’s leadership believes its shares are undervalued.
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In other news, SVP Catherine Mary Jackson sold 17,130 shares of the stock in a transaction that occurred on Tuesday, August 15th. The shares were sold at an average price of $17.22, for a total value of $294,978.60. Following the completion of the transaction, the senior vice president now directly owns 80,720 shares in the company, valued at $1,389,998.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Richard G. Thornberry acquired 5,000 shares of the firm’s stock in a transaction dated Monday, August 21st. The stock was bought at an average price of $16.54 per share, with a total value of $82,700.00. Following the completion of the acquisition, the chief executive officer now directly owns 20,000 shares of the company’s stock, valued at $330,800. The disclosure for this purchase can be found here. 1.83% of the stock is owned by corporate insiders.
A number of large investors have recently modified their holdings of RDN. Quantbot Technologies LP acquired a new position in Radian Group in the 1st quarter worth approximately $114,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Radian Group by 11.5% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,781 shares of the insurance provider’s stock worth $127,000 after purchasing an additional 803 shares during the period. Skba Capital Management LLC acquired a new position in Radian Group in the 2nd quarter worth approximately $170,000. Zacks Investment Management acquired a new position in Radian Group in the 2nd quarter worth approximately $175,000. Finally, ETRADE Capital Management LLC acquired a new position in Radian Group in the 2nd quarter worth approximately $183,000. Hedge funds and other institutional investors own 90.01% of the company’s stock.
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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