Radian Group Inc. (NYSE:RDN) Sees Significant Growth in Short Interest

Radian Group Inc. (NYSE:RDN) saw a significant growth in short interest during the month of February. As of February 27th, there was short interest totaling 6,702,493 shares, a growth of 30.7% from the February 12th total of 5,127,302 shares. Approximately 5.0% of the shares of the stock are sold short. Based on an average daily volume of 1,391,182 shares, the short-interest ratio is currently 4.8 days. Based on an average daily volume of 1,391,182 shares, the short-interest ratio is currently 4.8 days. Approximately 5.0% of the shares of the stock are sold short.

Radian Group Trading Down 0.4%

Shares of RDN traded down $0.14 during trading hours on Friday, hitting $32.98. 1,306,040 shares of the stock traded hands, compared to its average volume of 1,426,673. The business has a fifty day moving average of $33.68 and a 200-day moving average of $34.62. The firm has a market capitalization of $4.49 billion, a PE ratio of 7.95, a price-to-earnings-growth ratio of 1.78 and a beta of 0.80. Radian Group has a 1-year low of $29.32 and a 1-year high of $38.84. The company has a current ratio of 3.40, a quick ratio of 3.40 and a debt-to-equity ratio of 0.23.

Radian Group (NYSE:RDN) last announced its quarterly earnings data on Wednesday, February 18th. The insurance provider reported $1.16 EPS for the quarter, topping analysts’ consensus estimates of $1.11 by $0.05. The firm had revenue of $300.51 million during the quarter, compared to analyst estimates of $300.45 million. Radian Group had a return on equity of 13.07% and a net margin of 46.99%.The company’s revenue was up 2.7% on a year-over-year basis. During the same period last year, the company earned $1.09 earnings per share. Analysts expect that Radian Group will post 3.79 EPS for the current year.

Radian Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 10th. Stockholders of record on Monday, February 23rd were given a dividend of $0.255 per share. The ex-dividend date was Monday, February 23rd. This represents a $1.02 annualized dividend and a dividend yield of 3.1%. Radian Group’s payout ratio is currently 24.58%.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on RDN. UBS Group cut their price target on Radian Group from $41.00 to $39.00 and set a “neutral” rating for the company in a report on Thursday. Keefe, Bruyette & Woods raised shares of Radian Group from a “market perform” rating to an “outperform” rating and increased their price objective for the stock from $41.00 to $42.00 in a report on Wednesday, February 11th. Weiss Ratings cut shares of Radian Group from a “buy (a-)” rating to a “buy (b+)” rating in a research report on Tuesday, January 13th. Barclays set a $40.00 target price on shares of Radian Group in a research note on Monday, February 23rd. Finally, Roth Mkm reiterated a “buy” rating and set a $45.00 target price on shares of Radian Group in a research report on Friday, January 2nd. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $40.60.

Hedge Funds Weigh In On Radian Group

Several large investors have recently bought and sold shares of the business. Norges Bank acquired a new stake in Radian Group during the 2nd quarter worth $85,785,000. Balyasny Asset Management L.P. lifted its stake in shares of Radian Group by 151.7% in the 3rd quarter. Balyasny Asset Management L.P. now owns 1,873,049 shares of the insurance provider’s stock valued at $67,842,000 after purchasing an additional 1,128,852 shares during the period. Donald Smith & CO. Inc. lifted its stake in shares of Radian Group by 43.7% in the 4th quarter. Donald Smith & CO. Inc. now owns 3,012,255 shares of the insurance provider’s stock valued at $108,411,000 after purchasing an additional 916,003 shares during the period. Vanguard Group Inc. boosted its position in shares of Radian Group by 2.7% in the 3rd quarter. Vanguard Group Inc. now owns 16,272,597 shares of the insurance provider’s stock worth $589,393,000 after purchasing an additional 427,473 shares during the last quarter. Finally, Millennium Management LLC boosted its position in shares of Radian Group by 59.7% in the 3rd quarter. Millennium Management LLC now owns 1,007,172 shares of the insurance provider’s stock worth $36,480,000 after purchasing an additional 376,533 shares during the last quarter. 95.33% of the stock is currently owned by institutional investors and hedge funds.

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.