Barclays Lowers Radian Group (NYSE:RDN) Price Target to $37.00

Radian Group (NYSE:RDN) had its price objective dropped by equities research analysts at Barclays from $40.00 to $37.00 in a note issued to investors on Monday,Benzinga reports. The brokerage presently has an “equal weight” rating on the insurance provider’s stock. Barclays‘s price target suggests a potential upside of 9.82% from the company’s current price.

A number of other equities research analysts have also recently issued reports on RDN. Keefe, Bruyette & Woods raised shares of Radian Group from a “market perform” rating to an “outperform” rating and upped their price objective for the company from $41.00 to $42.00 in a research note on Wednesday, February 11th. Weiss Ratings lowered Radian Group from a “buy (a-)” rating to a “buy (b+)” rating in a research note on Tuesday, January 13th. UBS Group cut their target price on shares of Radian Group from $41.00 to $39.00 and set a “neutral” rating on the stock in a report on Thursday, March 12th. Zacks Research upgraded shares of Radian Group from a “hold” rating to a “strong-buy” rating in a report on Friday, February 20th. Finally, Roth Mkm restated a “buy” rating and issued a $45.00 price objective on shares of Radian Group in a report on Friday, January 2nd. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $40.00.

Radian Group Price Performance

RDN traded up $0.04 during trading on Monday, reaching $33.69. 93,863 shares of the company were exchanged, compared to its average volume of 1,409,124. The company has a quick ratio of 3.40, a current ratio of 3.40 and a debt-to-equity ratio of 0.23. The company has a market cap of $4.59 billion, a price-to-earnings ratio of 8.11, a P/E/G ratio of 1.82 and a beta of 0.77. Radian Group has a 12-month low of $29.32 and a 12-month high of $38.84. The company’s 50-day moving average is $33.37 and its two-hundred day moving average is $34.41.

Radian Group (NYSE:RDN) last announced its quarterly earnings results on Thursday, February 19th. The insurance provider reported $1.16 EPS for the quarter, beating the consensus estimate of $1.11 by $0.05. The firm had revenue of $300.51 million during the quarter, compared to the consensus estimate of $300.45 million. Radian Group had a net margin of 46.99% and a return on equity of 13.07%. The business’s quarterly revenue was up 2.7% compared to the same quarter last year. During the same period last year, the firm earned $1.09 EPS. Research analysts forecast that Radian Group will post 3.79 earnings per share for the current fiscal year.

Institutional Trading of Radian Group

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Norges Bank bought a new stake in Radian Group in the fourth quarter worth $77,364,000. Balyasny Asset Management L.P. grew its position in Radian Group by 151.7% during 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 last quarter. Donald Smith & CO. Inc. increased its stake in Radian Group by 43.7% during 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 in the last quarter. Vanguard Group Inc. raised its holdings in Radian Group by 2.7% in the third quarter. Vanguard Group Inc. now owns 16,272,597 shares of the insurance provider’s stock worth $589,393,000 after buying an additional 427,473 shares during the last quarter. Finally, Millennium Management LLC lifted its stake in shares of Radian Group by 59.7% in the third quarter. Millennium Management LLC now owns 1,007,172 shares of the insurance provider’s stock worth $36,480,000 after buying an additional 376,533 shares in the last quarter. Hedge funds and other institutional investors own 95.33% of the company’s stock.

About Radian Group

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.