Radian Group Inc. (NYSE:RDN)‘s stock had its “buy” rating restated by analysts at BTIG Research in a research report issued on Sunday, October 29th. They currently have a $22.00 price target on the insurance provider’s stock. BTIG Research’s price target indicates a potential upside of 5.41% from the stock’s previous close.
The analysts wrote, “Noise Should Enable Rally in RDN Shares to Continue With the impact of the restructuring of Radian Group’s (RDN) underperforming Mortgage and Real Estate Services unit having been absorbed by the market and baked into the stock’s valuation, the 3Q17 report the company released this morning returned the focus to its core mortgage insurance business.””
Other equities research analysts also recently issued reports about the stock. Deutsche Bank AG upped their target price on shares of Radian Group from $21.00 to $23.00 and gave the stock a “buy” rating in a research note on Wednesday, October 25th. Compass Point reaffirmed a “neutral” rating and issued a $21.25 target price on shares of Radian Group in a research report on Saturday, October 14th. FBR & Co reiterated a “buy” rating on shares of Radian Group in a research note on Thursday, October 26th. Barclays PLC restated an “overweight” rating and issued a $24.00 target price (down previously from $25.00) on shares of Radian Group in a research note on Wednesday, August 2nd. Finally, Susquehanna Bancshares Inc set a $22.00 price objective on shares of Radian Group and gave the company a “buy” rating in a research note on Monday, October 16th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $22.59.
Shares of Radian Group (NYSE RDN) traded up $0.09 during trading hours on Friday, hitting $20.87. 991,541 shares of the company were exchanged, compared to its average volume of 1,673,362. The company has a current ratio of 1.23, a quick ratio of 1.23 and a debt-to-equity ratio of 0.34. The company has a market cap of $4,490.00, a P/E ratio of 11.55, a price-to-earnings-growth ratio of 2.26 and a beta of 1.59. Radian Group has a 1 year low of $14.39 and a 1 year high of $21.59.
Radian Group (NYSE:RDN) last issued its quarterly earnings data on Thursday, October 26th. The insurance provider reported $0.46 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.42 by $0.04. The company had revenue of $312.05 million for the quarter, compared to analyst estimates of $321.10 million. Radian Group had a net margin of 14.88% and a return on equity of 12.99%. Radian Group’s revenue was down 2.8% compared to the same quarter last year. During the same period last year, the company posted $0.41 earnings per share. equities research analysts predict that Radian Group will post 1.76 earnings per share for the current fiscal year.
Radian Group announced that its board has authorized a stock repurchase program on Wednesday, August 9th that authorizes the company to repurchase $50.00 million in shares. This repurchase authorization authorizes the insurance provider to reacquire up to 1.3% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s leadership believes its stock is undervalued.
In other Radian Group news, CEO Richard G. Thornberry purchased 5,000 shares of the business’s stock in a transaction on Monday, August 21st. The stock was bought at an average cost of $16.54 per share, with a total value of $82,700.00. Following the acquisition, the chief executive officer now owns 20,000 shares of the company’s stock, valued at $330,800. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 1.06% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in RDN. BlackRock Inc. boosted its position in Radian Group by 24,173.9% during the first quarter. BlackRock Inc. now owns 14,125,455 shares of the insurance provider’s stock worth $253,692,000 after purchasing an additional 14,067,263 shares during the period. Capital World Investors raised its position in Radian Group by 42.7% in the 2nd quarter. Capital World Investors now owns 4,930,000 shares of the insurance provider’s stock valued at $80,606,000 after buying an additional 1,475,000 shares during the last quarter. Vaughan Nelson Investment Management L.P. acquired a new stake in Radian Group in the 2nd quarter valued at approximately $17,167,000. Northern Trust Corp raised its position in Radian Group by 24.6% in the 2nd quarter. Northern Trust Corp now owns 5,305,329 shares of the insurance provider’s stock valued at $86,742,000 after buying an additional 1,048,954 shares during the last quarter. Finally, Ameriprise Financial Inc. raised its position in Radian Group by 59.3% in the 3rd quarter. Ameriprise Financial Inc. now owns 2,601,594 shares of the insurance provider’s stock valued at $48,623,000 after buying an additional 968,914 shares during the last quarter. Hedge funds and other institutional investors own 91.34% of the company’s stock.
About Radian Group
Radian Group Inc is an insurance holding company that provides mortgage insurance, and products and services to the real estate and mortgage finance industries. The Company operates in two segments: Mortgage Insurance and Services. The Mortgage Insurance segment provides credit-related insurance coverage, principally through private mortgage insurance to mortgage lending institutions.
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