Radian Group (NYSE:RDN) Sets New 52-Week High After Strong Earnings

Shares of Radian Group Inc. (NYSE:RDN) hit a new 52-week high during trading on Wednesday after the company announced better than expected quarterly earnings. The stock traded as high as $31.97 and last traded at $31.90, with a volume of 1930116 shares. The stock had previously closed at $31.62.

The insurance provider reported $0.99 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.95 by $0.04. The business had revenue of $318.11 million during the quarter, compared to analyst estimates of $326.99 million. Radian Group had a return on equity of 13.96% and a net margin of 46.85%. The business’s revenue for the quarter was down .4% compared to the same quarter last year. During the same period in the prior year, the company posted $1.03 EPS.

Radian Group Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 11th. Stockholders of record on Monday, February 24th were issued a dividend of $0.255 per share. This represents a $1.02 dividend on an annualized basis and a dividend yield of 3.12%. This is a positive change from Radian Group’s previous quarterly dividend of $0.25. The ex-dividend date was Monday, February 24th. Radian Group’s dividend payout ratio (DPR) is 25.95%.

Analyst Ratings Changes

A number of brokerages recently issued reports on RDN. Keefe, Bruyette & Woods decreased their target price on shares of Radian Group from $40.00 to $37.00 and set an “outperform” rating for the company in a research report on Tuesday, April 8th. UBS Group increased their price objective on shares of Radian Group from $33.00 to $34.00 and gave the company a “neutral” rating in a report on Wednesday, February 19th. Three analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Radian Group presently has an average rating of “Hold” and a consensus target price of $36.20.

Insider Buying and Selling

In other news, Director Gregory Serio sold 4,100 shares of the firm’s stock in a transaction dated Friday, February 28th. The shares were sold at an average price of $32.65, for a total transaction of $133,865.00. Following the completion of the transaction, the director now owns 344 shares in the company, valued at approximately $11,231.60. This trade represents a 92.26 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 2.16% of the stock is owned by corporate insiders.

Institutional Trading of Radian Group

Hedge funds and other institutional investors have recently made changes to their positions in the business. Barclays PLC increased its holdings in shares of Radian Group by 218.0% in the third quarter. Barclays PLC now owns 284,463 shares of the insurance provider’s stock valued at $9,868,000 after buying an additional 194,996 shares in the last quarter. Tidal Investments LLC acquired a new position in shares of Radian Group in the 3rd quarter worth $402,000. Nordea Investment Management AB raised its position in shares of Radian Group by 11.2% during the fourth quarter. Nordea Investment Management AB now owns 195,942 shares of the insurance provider’s stock worth $6,233,000 after purchasing an additional 19,730 shares during the period. Harbor Capital Advisors Inc. lifted its holdings in shares of Radian Group by 3.4% during the fourth quarter. Harbor Capital Advisors Inc. now owns 47,264 shares of the insurance provider’s stock valued at $1,499,000 after purchasing an additional 1,563 shares during the last quarter. Finally, Assenagon Asset Management S.A. boosted its position in shares of Radian Group by 23.3% in the 4th quarter. Assenagon Asset Management S.A. now owns 1,020,912 shares of the insurance provider’s stock valued at $32,383,000 after purchasing an additional 192,854 shares during the period. 95.33% of the stock is currently owned by institutional investors.

Radian Group Price Performance

The stock has a 50 day moving average of $32.02 and a two-hundred day moving average of $32.96. The company has a debt-to-equity ratio of 0.50, a quick ratio of 2.01 and a current ratio of 2.87. The stock has a market cap of $4.61 billion, a PE ratio of 8.31, a PEG ratio of 1.73 and a beta of 0.75.

Radian Group Company Profile

Radian Group Inc, together with its subsidiaries, engages in the mortgage and real estate services business in the United States. It operates through two segments, Mortgage Insurance and Homegenius segments. The Mortgage Insurance segment aggregates, manages, and distributes U.S. mortgage credit risk for mortgage lending institutions and mortgage credit investors, through private mortgage insurance on residential first-lien mortgage loans; and other credit risk management solutions, including contract underwriting.