Radian Group Inc. (RDN) Receives Consensus Recommendation of “Buy” from Analysts
Radian Group Inc. (NYSE:RDN) has been assigned an average recommendation of “Buy” from the ten analysts that are covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, one has issued a hold recommendation, seven have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year target price among brokers that have issued a report on the stock in the last year is $21.91.
Several research analysts have recently commented on RDN shares. ValuEngine cut shares of Radian Group from a “strong-buy” rating to a “buy” rating in a report on Thursday, September 7th. Zacks Investment Research cut shares of Radian Group from a “hold” rating to a “sell” rating in a report on Tuesday, July 4th. Susquehanna Bancshares Inc set a $22.00 target price on shares of Radian Group and gave the stock a “buy” rating in a report on Monday, October 16th. Barclays PLC reaffirmed an “overweight” rating and set a $24.00 target price (down from $25.00) on shares of Radian Group in a report on Wednesday, August 2nd. Finally, Compass Point reaffirmed a “neutral” rating and set a $21.25 target price on shares of Radian Group in a report on Saturday, October 14th.
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In other Radian Group news, SVP Catherine Mary Jackson sold 17,130 shares of the firm’s 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 sale, the senior vice president now owns 80,720 shares in the company, valued at $1,389,998.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Richard G. Thornberry bought 5,000 shares of the business’s stock in a transaction on Monday, August 21st. The stock was bought at an average price of $16.54 per share, for a total transaction of $82,700.00. Following the transaction, 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. Company insiders own 1.06% of the company’s stock.
Large investors have recently modified their holdings of the company. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Radian Group by 11.5% during the second 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 shares of Radian Group during the second quarter worth $170,000. Zacks Investment Management acquired a new position in shares of Radian Group during the second quarter worth $175,000. ETRADE Capital Management LLC acquired a new position in shares of Radian Group during the second quarter worth $183,000. Finally, Alpine Woods Capital Investors LLC lifted its holdings in shares of Radian Group by 9.5% during the second quarter. Alpine Woods Capital Investors LLC now owns 11,510 shares of the insurance provider’s stock worth $188,000 after purchasing an additional 1,000 shares during the period. Institutional investors own 89.97% of the company’s stock.
Shares of Radian Group (RDN) traded down 0.88% during trading on Friday, reaching $20.29. The company had a trading volume of 1,406,866 shares. Radian Group has a 12 month low of $12.96 and a 12 month high of $20.82. The firm has a 50 day moving average price of $18.22 and a 200 day moving average price of $17.44. The company has a market cap of $4.37 billion, a price-to-earnings ratio of 23.59 and a beta of 1.51.
Radian Group (NYSE:RDN) last announced its 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. Radian Group had a net margin of 16.26% and a return on equity of 12.81%. The company had revenue of $302.91 million for the quarter, compared to analysts’ expectations of $299.07 million. During the same period last year, the firm earned $0.38 earnings per share. The business’s revenue for the quarter was up 4.9% on a year-over-year basis. Analysts predict that Radian Group will post $1.72 earnings per share for the current year.
Radian Group announced that its Board of Directors has authorized a share repurchase plan on Wednesday, August 9th that authorizes the company to repurchase $50.00 million in outstanding shares. This repurchase authorization authorizes the insurance provider to buy up to 1.3% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.
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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