Radian Group (NYSE:RDN) Price Target Raised to $32.00 at Barclays

Radian Group (NYSE:RDN) had its price objective upped by Barclays from $30.00 to $32.00 in a research note released on Friday morning, Benzinga reports. The firm currently has an equal weight rating on the insurance provider’s stock.

Other research analysts have also issued research reports about the company. Keefe, Bruyette & Woods raised Radian Group from a market perform rating to an outperform rating and upped their price objective for the stock from $35.00 to $36.00 in a report on Monday, June 3rd. UBS Group upped their price objective on Radian Group from $30.00 to $31.50 and gave the stock a neutral rating in a report on Wednesday, May 22nd. Four investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of Hold and an average price target of $35.30.

Radian Group Stock Performance

Shares of Radian Group stock traded down $0.66 during trading hours on Friday, hitting $34.94. 1,287,929 shares of the company were exchanged, compared to its average volume of 871,333. Radian Group has a 1 year low of $24.56 and a 1 year high of $37.86. The company has a current ratio of 0.41, a quick ratio of 1.80 and a debt-to-equity ratio of 0.45. The business has a 50-day moving average of $32.42 and a 200-day moving average of $30.94. The stock has a market capitalization of $5.26 billion, a price-to-earnings ratio of 9.24, a P/E/G ratio of 1.98 and a beta of 1.05.

Radian Group (NYSE:RDN) last announced its quarterly earnings data on Wednesday, May 1st. The insurance provider reported $1.03 earnings per share for the quarter, topping analysts’ consensus estimates of $0.83 by $0.20. Radian Group had a return on equity of 14.43% and a net margin of 47.05%. The firm had revenue of $319.42 million for the quarter, compared to analyst estimates of $314.76 million. During the same quarter in the prior year, the company posted $0.98 earnings per share. Radian Group’s quarterly revenue was up 3.1% on a year-over-year basis. As a group, analysts expect that Radian Group will post 3.61 EPS for the current fiscal year.

Radian Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, June 20th. Stockholders of record on Tuesday, June 4th were given a $0.245 dividend. This represents a $0.98 dividend on an annualized basis and a dividend yield of 2.80%. The ex-dividend date was Tuesday, June 4th. Radian Group’s dividend payout ratio is currently 25.93%.

Insider Activity

In other news, EVP Eric Ray sold 65,305 shares of the firm’s stock in a transaction on Thursday, May 23rd. The stock was sold at an average price of $31.05, for a total value of $2,027,720.25. Following the completion of the transaction, the executive vice president now owns 53,791 shares in the company, valued at $1,670,210.55. The sale was disclosed in a document filed with the SEC, which is available at this link. In related news, insider Derek Brummer sold 35,000 shares of Radian Group stock in a transaction dated Friday, May 24th. The stock was sold at an average price of $31.33, for a total transaction of $1,096,550.00. Following the completion of the sale, the insider now owns 218,023 shares in the company, valued at approximately $6,830,660.59. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Eric Ray sold 65,305 shares of Radian Group stock in a transaction dated Thursday, May 23rd. The stock was sold at an average price of $31.05, for a total value of $2,027,720.25. Following the sale, the executive vice president now owns 53,791 shares of the company’s stock, valued at approximately $1,670,210.55. The disclosure for this sale can be found here. Insiders sold a total of 117,004 shares of company stock worth $3,651,517 over the last 90 days. 2.16% of the stock is currently owned by corporate insiders.

Institutional Trading of Radian Group

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in RDN. International Assets Investment Management LLC increased its position in Radian Group by 923.0% during the 4th quarter. International Assets Investment Management LLC now owns 5,258 shares of the insurance provider’s stock worth $150,000 after purchasing an additional 4,744 shares in the last quarter. DekaBank Deutsche Girozentrale boosted its stake in Radian Group by 149.9% in the 4th quarter. DekaBank Deutsche Girozentrale now owns 154,958 shares of the insurance provider’s stock worth $4,416,000 after buying an additional 92,938 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its stake in Radian Group by 42.8% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 173,084 shares of the insurance provider’s stock worth $4,942,000 after buying an additional 51,852 shares during the last quarter. Sequoia Financial Advisors LLC acquired a new stake in Radian Group in the 4th quarter worth about $343,000. Finally, Louisiana State Employees Retirement System acquired a new stake in Radian Group in the 4th quarter worth about $2,187,000. Hedge funds and other institutional investors own 95.33% of the company’s stock.

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.