Radian Group (NYSE:RDN) Downgraded to Hold Rating by Wall Street Zen

Radian Group (NYSE:RDN) was downgraded by stock analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Saturday.

RDN has been the topic of a number of other reports. Bank of America upgraded Radian Group from an “underperform” rating to a “buy” rating and increased their price objective for the company from $35.00 to $43.00 in a research report on Wednesday, April 29th. Barclays increased their price objective on Radian Group from $37.00 to $39.00 and gave the company an “equal weight” rating in a research report on Monday, May 11th. Keefe, Bruyette & Woods increased their price objective on Radian Group from $42.00 to $43.00 and gave the company an “outperform” rating in a research report on Friday, April 10th. Royal Bank Of Canada started coverage on Radian Group in a research report on Friday, May 22nd. They issued an “outperform” rating and a $47.00 price objective on the stock. Finally, Zacks Research lowered Radian Group from a “strong-buy” rating to a “hold” rating in a research report on Monday, April 20th. Five research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $42.67.

Radian Group Stock Up 0.5%

NYSE RDN opened at $33.77 on Friday. The firm has a market cap of $4.49 billion, a PE ratio of 8.32, a price-to-earnings-growth ratio of 0.85 and a beta of 0.73. Radian Group has a one year low of $31.50 and a one year high of $38.84. The stock’s 50 day simple moving average is $35.26 and its 200 day simple moving average is $34.68. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.58 and a quick ratio of 0.58.

Radian Group (NYSE:RDN) last released its quarterly earnings results on Thursday, May 7th. The insurance provider reported $1.27 EPS for the quarter, topping analysts’ consensus estimates of $1.17 by $0.10. The business had revenue of $466.34 million for the quarter, compared to analyst estimates of $377.83 million. Radian Group had a return on equity of 13.57% and a net margin of 40.50%.Radian Group’s revenue for the quarter was up 46.6% on a year-over-year basis. During the same period in the prior year, the company earned $0.99 EPS. As a group, sell-side analysts forecast that Radian Group will post 5.17 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, EVP Edward J. Hoffman sold 15,000 shares of the firm’s stock in a transaction on Friday, May 8th. The stock was sold at an average price of $38.00, for a total value of $570,000.00. Following the transaction, the executive vice president directly owned 93,708 shares in the company, valued at $3,560,904. This trade represents a 13.80% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Michael S. Weinbach purchased 120,487 shares of Radian Group stock in a transaction dated Monday, June 1st. The stock was bought at an average price of $33.89 per share, for a total transaction of $4,083,304.43. Following the completion of the transaction, the chief executive officer directly owned 120,487 shares in the company, valued at $4,083,304.43. The trade was a ∞ increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders sold 75,516 shares of company stock worth $2,747,576 over the last three months. Insiders own 2.03% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Northwestern Mutual Wealth Management Co. raised its stake in Radian Group by 178.9% during the 3rd quarter. Northwestern Mutual Wealth Management Co. now owns 742 shares of the insurance provider’s stock worth $27,000 after buying an additional 476 shares during the period. V Square Quantitative Management LLC bought a new position in Radian Group during the fourth quarter worth about $29,000. Bessemer Group Inc. lifted its holdings in Radian Group by 66.7% during the third quarter. Bessemer Group Inc. now owns 795 shares of the insurance provider’s stock worth $29,000 after acquiring an additional 318 shares in the last quarter. Geneos Wealth Management Inc. lifted its holdings in Radian Group by 191.3% during the first quarter. Geneos Wealth Management Inc. now owns 871 shares of the insurance provider’s stock worth $29,000 after acquiring an additional 572 shares in the last quarter. Finally, Fifth Third Bancorp lifted its holdings in Radian Group by 65.8% during the fourth quarter. Fifth Third Bancorp now owns 907 shares of the insurance provider’s stock worth $33,000 after acquiring an additional 360 shares in the last quarter. 95.33% of the stock is currently owned by institutional investors.

About Radian Group

Radian Group Inc (NYSE:RDN) is a leading provider of private mortgage insurance and related risk management solutions in the United States. Through its primary subsidiary, Radian Guaranty Inc, the company underwrites borrower-paid and lender-paid mortgage insurance that protects lenders and investors from potential losses arising from borrower defaults. Radian’s core business focuses on supporting residential mortgage originations and servicing by offering capital-efficient credit protection and credit risk transfer strategies.

Beyond mortgage insurance, Radian offers an array of real estate transaction services under its Radian Title division.