Radian Group (NYSE:RDN) Upgraded by Wall Street Zen to “Buy” Rating

Radian Group (NYSE:RDN) was upgraded by investment analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a research note issued to investors on Saturday.

Several other research firms have also issued reports on RDN. Bank of America raised shares of Radian Group from an “underperform” rating to a “buy” rating and lifted their price objective for the company from $35.00 to $43.00 in a research note on Wednesday, April 29th. Royal Bank Of Canada began coverage on Radian Group in a research note on Friday, May 22nd. They issued an “outperform” rating and a $47.00 price objective on the stock. Weiss Ratings restated a “buy (b)” rating on shares of Radian Group in a report on Tuesday, June 16th. Zacks Research cut Radian Group from a “strong-buy” rating to a “hold” rating in a research report on Monday, April 20th. Finally, Barclays increased their price target on Radian Group from $37.00 to $39.00 and gave the company an “equal weight” rating in a report on Monday, May 11th. Five analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, Radian Group presently has an average rating of “Moderate Buy” and an average price target of $43.17.

Radian Group Trading Up 1.3%

Shares of NYSE RDN opened at $37.49 on Friday. The stock has a market cap of $4.99 billion, a price-to-earnings ratio of 9.23, a PEG ratio of 0.93 and a beta of 0.73. The business has a 50 day simple moving average of $35.66 and a 200 day simple moving average of $34.68. Radian Group has a 52 week low of $31.50 and a 52 week high of $38.84. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.58 and a current ratio of 0.58.

Radian Group (NYSE:RDN) last issued its quarterly earnings data on Thursday, May 7th. The insurance provider reported $1.27 earnings per share for the quarter, beating the consensus estimate of $1.17 by $0.10. The firm had revenue of $466.34 million for the quarter, compared to analyst estimates of $377.83 million. Radian Group had a net margin of 40.50% and a return on equity of 13.57%. The company’s revenue for the quarter was up 46.6% on a year-over-year basis. During the same quarter last year, the firm earned $0.99 earnings per share. On average, research analysts predict that Radian Group will post 5.17 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Noel Joseph Spiegel sold 4,834 shares of the company’s stock in a transaction on Tuesday, May 26th. The shares were sold at an average price of $36.19, for a total transaction of $174,942.46. Following the completion of the transaction, the director directly owned 20,008 shares in the company, valued at $724,089.52. This represents a 19.46% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Edward J. Hoffman sold 15,000 shares of the company’s stock in a transaction on Friday, May 8th. The shares were sold at an average price of $38.00, for a total transaction of $570,000.00. Following the transaction, the executive vice president owned 93,708 shares of the company’s stock, valued at approximately $3,560,904. The trade was a 13.80% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 75,516 shares of company stock valued at $2,747,576 in the last ninety days. Company insiders own 2.03% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Jones Financial Companies Lllp raised its position in shares of Radian Group by 14.8% during the first quarter. Jones Financial Companies Lllp now owns 2,764 shares of the insurance provider’s stock valued at $91,000 after buying an additional 357 shares during the last quarter. Geneos Wealth Management Inc. increased its stake in Radian Group by 191.3% during the first quarter. Geneos Wealth Management Inc. now owns 871 shares of the insurance provider’s stock valued at $29,000 after acquiring an additional 572 shares during the period. EverSource Wealth Advisors LLC raised its holdings in Radian Group by 94.0% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,860 shares of the insurance provider’s stock valued at $67,000 after acquiring an additional 901 shares in the last quarter. Walleye Capital LLC acquired a new position in Radian Group in the 2nd quarter valued at approximately $239,000. Finally, Marshall Wace LLP acquired a new position in Radian Group in the 2nd quarter valued at approximately $452,000. Institutional investors own 95.33% of the company’s stock.

Radian Group Company Profile

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.