B. Riley Weighs in on Radian Group Inc’s Q4 2017 Earnings (RDN)
Radian Group Inc (NYSE:RDN) – Analysts at B. Riley issued their Q4 2017 EPS estimates for Radian Group in a research note issued to investors on Monday. B. Riley analyst R. Binner anticipates that the insurance provider will earn $0.44 per share for the quarter. B. Riley currently has a “Buy” rating on the stock.
Several other brokerages have also recently weighed in on RDN. ValuEngine cut Radian Group from a “strong-buy” rating to a “buy” rating in a report on Thursday, September 7th. Zacks Investment Research cut Radian Group from a “buy” rating to a “hold” rating in a report on Monday, October 23rd. Compass Point raised Radian Group from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $21.75 to $24.75 in a report on Friday, October 27th. Wells Fargo & Company initiated coverage on Radian Group in a report on Tuesday, November 28th. They set a “market perform” rating and a $22.00 price objective for the company. Finally, Deutsche Bank cut Radian Group from a “buy” rating to a “hold” rating and set a $23.00 price objective for the company. in a report on Friday, November 3rd. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $22.53.
Radian Group (NYSE:RDN) last announced its quarterly earnings data on Thursday, October 26th. The insurance provider reported $0.46 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.42 by $0.04. The firm had revenue of $312.05 million during the quarter, compared to analysts’ expectations of $321.10 million. Radian Group had a return on equity of 12.99% and a net margin of 14.88%. The company’s quarterly revenue was down 2.8% compared to the same quarter last year. During the same period in the previous year, the business posted $0.41 EPS.
Hedge funds have recently made changes to their positions in the company. Capital World Investors grew its position in shares of Radian Group by 42.7% in the 2nd quarter. Capital World Investors now owns 4,930,000 shares of the insurance provider’s stock valued at $80,606,000 after purchasing an additional 1,475,000 shares during the period. Northern Trust Corp grew its position in shares of Radian Group by 24.6% in the 2nd quarter. Northern Trust Corp now owns 5,305,329 shares of the insurance provider’s stock valued at $86,742,000 after purchasing an additional 1,048,954 shares during the period. Ameriprise Financial Inc. grew its position in shares of Radian Group by 59.3% in the 3rd quarter. Ameriprise Financial Inc. now owns 2,601,594 shares of the insurance provider’s stock valued at $48,623,000 after purchasing an additional 968,914 shares during the period. Vanguard Group Inc. grew its position in shares of Radian Group by 5.0% in the 2nd quarter. Vanguard Group Inc. now owns 18,116,304 shares of the insurance provider’s stock valued at $296,201,000 after purchasing an additional 859,950 shares during the period. Finally, Calamos Advisors LLC grew its position in shares of Radian Group by 62.5% in the 2nd quarter. Calamos Advisors LLC now owns 2,054,000 shares of the insurance provider’s stock valued at $33,583,000 after purchasing an additional 790,132 shares during the period. 91.56% of the stock is owned by institutional investors.
Radian Group declared that its Board of Directors has initiated a stock buyback plan on Wednesday, August 9th that allows the company to repurchase $50.00 million in shares. This repurchase authorization allows the insurance provider to repurchase up to 1.3% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board believes its shares are undervalued.
The business also recently declared a quarterly dividend, which will be paid on Friday, December 8th. Stockholders of record on Monday, November 27th will be paid a $0.002 dividend. The ex-dividend date is Friday, November 24th. This represents a $0.01 dividend on an annualized basis and a dividend yield of 0.04%. Radian Group’s dividend payout ratio (DPR) is presently 1.28%.
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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