Radian Group Inc. (RDN) Stock Rating Reaffirmed by FBR & Co
Radian Group Inc. (NYSE:RDN)‘s stock had its “buy” rating reiterated by equities researchers at FBR & Co in a note issued to investors on Thursday.
Several other research firms also recently issued reports on RDN. Zacks Investment Research downgraded Radian Group from a “buy” rating to a “hold” rating in a research note on Monday. Deutsche Bank AG lifted their price target on Radian Group from $21.00 to $23.00 and gave the company a “buy” rating in a research note on Wednesday. Susquehanna Bancshares Inc set a $22.00 price target on Radian Group and gave the company a “buy” rating in a research note on Monday, October 16th. BTIG Research reissued a “buy” rating and issued a $22.00 price target on shares of Radian Group in a research note on Sunday, October 15th. Finally, Compass Point reissued a “neutral” rating and issued a $21.25 price target on shares of Radian Group in a research note on Saturday, October 14th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. Radian Group has a consensus rating of “Buy” and a consensus target price of $22.16.
Shares of Radian Group (NYSE:RDN) traded up 3.01% on Thursday, reaching $20.90. The company’s stock had a trading volume of 2,381,027 shares. The company’s 50 day moving average is $18.44 and its 200-day moving average is $17.48. The stock has a market cap of $4.50 billion, a PE ratio of 24.00 and a beta of 1.51. Radian Group has a 1-year low of $12.96 and a 1-year high of $21.09.
Radian Group (NYSE:RDN) last released its quarterly earnings results on Thursday, October 26th. The insurance provider reported $0.46 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.42 by $0.04. Radian Group had a return on equity of 12.81% and a net margin of 16.26%. The firm had revenue of $312.05 million for the quarter, compared to the consensus estimate of $321.10 million. During the same quarter last year, the business posted $0.41 EPS. The company’s revenue for the quarter was down 2.8% on a year-over-year basis. On average, equities analysts predict that Radian Group will post $1.72 earnings per share for the current fiscal year.
Radian Group announced that its board has initiated 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 shares through open market purchases. Shares repurchase plans are usually an indication that the company’s board believes its shares are undervalued.
In other Radian Group news, CEO Richard G. Thornberry purchased 5,000 shares of the stock in a transaction on Monday, August 21st. The shares were purchased at an average price of $16.54 per share, with a total value of $82,700.00. Following the completion of the transaction, the chief executive officer now directly owns 20,000 shares in the company, valued at $330,800. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Richard G. Thornberry purchased 15,000 shares of the stock in a transaction on Friday, August 18th. The shares were acquired at an average cost of $16.78 per share, for a total transaction of $251,700.00. Following the transaction, the chief executive officer now 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 insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Aperio Group LLC increased its position in Radian Group by 14.9% during the third quarter. Aperio Group LLC now owns 42,873 shares of the insurance provider’s stock worth $801,000 after buying an additional 5,557 shares during the last quarter. Vaughan Nelson Investment Management L.P. increased its position in Radian Group by 27.8% during the third quarter. Vaughan Nelson Investment Management L.P. now owns 1,342,225 shares of the insurance provider’s stock worth $25,086,000 after buying an additional 292,200 shares during the last quarter. First Trust Advisors LP increased its position in Radian Group by 6.7% during the third quarter. First Trust Advisors LP now owns 188,954 shares of the insurance provider’s stock worth $3,532,000 after buying an additional 11,793 shares during the last quarter. APG Asset Management N.V. acquired a new position in Radian Group during the third quarter worth approximately $11,657,000. Finally, Capital Returns Management LLC increased its position in Radian Group by 57.4% during the second quarter. Capital Returns Management LLC now owns 1,525,537 shares of the insurance provider’s stock worth $24,943,000 after buying an additional 556,352 shares during the last quarter. 89.95% of the stock is currently owned by hedge funds and other institutional investors.
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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