Radian Group (NYSE:RDN) Cut to Strong Sell at Zacks Research

Zacks Research downgraded shares of Radian Group (NYSE:RDN) from a hold rating to a strong sell rating in a report released on Tuesday,Zacks reports.

Several other research analysts also recently weighed in on the stock. BTIG Research began coverage on shares of Radian Group in a research report on Tuesday, September 22nd. They issued a “buy” rating and a $48.00 price target on the stock. Keefe, Bruyette & Woods reduced their price objective on Radian Group from $46.00 to $44.00 and set an “outperform” rating for the company in a research note on Tuesday, August 11th. Barclays raised their target price on Radian Group from $35.00 to $36.00 and gave the stock an “equal weight” rating in a report on Monday. Weiss Ratings raised Radian Group from a “buy (b)” rating to a “buy (b+)” rating in a report on Monday, September 28th. Finally, Wall Street Zen raised Radian Group from a “hold” rating to a “buy” rating in a report on Saturday, September 19th. Six equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Radian Group presently has an average rating of “Moderate Buy” and an average target price of $43.14.

Radian Group Price Performance

NYSE RDN opened at $34.15 on Tuesday. Radian Group has a 52 week low of $30.53 and a 52 week high of $41.05. The firm has a market capitalization of $4.52 billion, a P/E ratio of 8.78, a PEG ratio of 0.82 and a beta of 0.71. The company has a quick ratio of 0.60, a current ratio of 0.60 and a debt-to-equity ratio of 0.14. The company has a 50-day moving average price of $35.70 and a 200-day moving average price of $35.87.

Radian Group (NYSE:RDN) last posted its quarterly earnings data on Thursday, August 6th. The insurance provider reported $1.14 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.34 by ($0.20). The business had revenue of $574.96 million during the quarter, compared to analysts’ expectations of $556.55 million. Radian Group had a return on equity of 13.65% and a net margin of 32.60%.The business’s quarterly revenue was up 92.3% compared to the same quarter last year. During the same period in the previous year, the business posted $1.01 EPS. Equities research analysts anticipate that Radian Group will post 4.86 earnings per share for the current year.

Radian Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 9th. Investors of record on Monday, August 24th were issued a $0.2550 dividend. The ex-dividend date of this dividend was Monday, August 24th. This represents a $1.02 dividend on an annualized basis and a yield of 3.0%. Radian Group’s payout ratio is currently 26.22%.

Insiders Place Their Bets

In other Radian Group news, EVP Meghan Bartholomew sold 7,812 shares of the company’s stock in a transaction that occurred on Monday, September 14th. The stock was sold at an average price of $35.94, for a total value of $280,763.28. Following the completion of the transaction, the executive vice president directly owned 39,203 shares in the company, valued at $1,408,955.82. This represents a 16.62% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 2.03% of the stock is owned by insiders.

Institutional Investors Weigh In On Radian Group

Several institutional investors and hedge funds have recently modified their holdings of RDN. Corient Private Wealth LP bought a new position in shares of Radian Group during the 2nd quarter valued at about $1,099,000. Deutsche Bank AG purchased a new position in shares of Radian Group during the second quarter valued at about $13,071,000. The Manufacturers Life Insurance Company bought a new stake in shares of Radian Group in the second quarter worth about $2,645,000. Fifth Third Bancorp increased its holdings in shares of Radian Group by 17,199.1% in the first quarter. Fifth Third Bancorp now owns 156,903 shares of the insurance provider’s stock worth $5,190,000 after purchasing an additional 155,996 shares during the last quarter. Finally, GSA Capital Partners LLP purchased a new stake in shares of Radian Group in the second quarter worth about $2,801,000. Institutional investors own 95.33% of the company’s stock.

Radian Group Company Profile

Radian Group Inc (NYSE: RDN) is a financial services company focused on supporting homeownership and the U.S. residential real estate market. Its principal business is mortgage insurance, which helps protect lenders and investors against losses when borrowers default on certain residential mortgage loans. Through its mortgage insurance operations, Radian serves mortgage lenders, banks, credit unions and other housing-finance participants.

The company also provides services and technology intended to support the mortgage and homeownership lifecycle.