Radian Group Inc (NYSE:RDN) was the recipient of unusually large options trading activity on Tuesday. Traders acquired 2,953 put options on the company. This represents an increase of 4,663% compared to the typical daily volume of 62 put options.
A number of large investors have recently modified their holdings of the stock. BlackRock Inc. grew its holdings in Radian Group by 2.7% during the 4th quarter. BlackRock Inc. now owns 14,438,816 shares of the insurance provider’s stock valued at $297,583,000 after purchasing an additional 377,393 shares during the last quarter. Investec Asset Management LTD grew its holdings in Radian Group by 23.0% during the 4th quarter. Investec Asset Management LTD now owns 4,362,115 shares of the insurance provider’s stock valued at $89,903,000 after purchasing an additional 815,149 shares during the last quarter. Brandywine Global Investment Management LLC grew its holdings in Radian Group by 3.8% during the 4th quarter. Brandywine Global Investment Management LLC now owns 2,842,363 shares of the insurance provider’s stock valued at $58,582,000 after purchasing an additional 103,941 shares during the last quarter. Ameriprise Financial Inc. grew its holdings in Radian Group by 59.3% during 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 last quarter. Finally, Rothschild Asset Management Inc. grew its holdings in Radian Group by 5.7% during the 3rd quarter. Rothschild Asset Management Inc. now owns 2,417,535 shares of the insurance provider’s stock valued at $45,184,000 after purchasing an additional 130,796 shares during the last quarter. Institutional investors own 94.49% of the company’s stock.
A number of analysts have recently weighed in on RDN shares. Wells Fargo & Co started coverage on shares of Radian Group in a report on Tuesday, November 28th. They issued a “market perform” rating and a $22.00 target price on the stock. Zacks Investment Research upgraded shares of Radian Group from a “hold” rating to a “strong-buy” rating and set a $24.00 target price on the stock in a report on Thursday, January 4th. Deutsche Bank upgraded shares of Radian Group from a “hold” rating to a “buy” rating and boosted their target price for the stock from $24.00 to $28.00 in a report on Monday, January 8th. BTIG Research restated a “buy” rating and issued a $26.00 target price (up from $22.00) on shares of Radian Group in a report on Wednesday, December 20th. Finally, B. Riley downgraded shares of Radian Group from a “buy” rating to a “neutral” rating and set a $22.00 target price on the stock. in a report on Thursday, January 4th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $24.68.
Radian Group (NYSE:RDN) last issued its quarterly earnings results on Thursday, February 1st. The insurance provider reported $0.51 EPS for the quarter, beating the consensus estimate of $0.44 by $0.07. The company had revenue of $317.90 million for the quarter, compared to the consensus estimate of $322.32 million. Radian Group had a net margin of 9.91% and a return on equity of 13.53%. The firm’s revenue was up 15.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.41 EPS. equities analysts predict that Radian Group will post 2.41 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Friday, March 9th. Investors of record on Monday, February 26th were issued a dividend of $0.0025 per share. This represents a $0.01 annualized dividend and a yield of 0.05%. This is an increase from Radian Group’s previous quarterly dividend of $0.00. The ex-dividend date of this dividend was Friday, February 23rd. Radian Group’s dividend payout ratio is presently 1.85%.
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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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