Keefe, Bruyette & Woods Increases Radian Group (NYSE:RDN) Price Target to $46.00

Radian Group (NYSE:RDN) had its target price upped by equities research analysts at Keefe, Bruyette & Woods from $43.00 to $46.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage currently has an “outperform” rating on the insurance provider’s stock. Keefe, Bruyette & Woods’ target price would indicate a potential upside of 24.66% from the stock’s previous close.

A number of other research firms have also weighed in on RDN. UBS Group decreased their price target on Radian Group from $41.00 to $39.00 and set a “neutral” rating for the company in a research report on Thursday, March 12th. Wall Street Zen lowered shares of Radian Group from a “buy” rating to a “hold” rating in a research note on Saturday, June 6th. Bank of America upgraded shares of Radian Group from an “underperform” rating to a “buy” rating and raised their target price for the stock from $35.00 to $43.00 in a report on Wednesday, April 29th. Barclays boosted their price target on shares of Radian Group from $37.00 to $39.00 and gave the company an “equal weight” rating in a report on Monday, May 11th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Radian Group in a research report on Tuesday, June 16th. Five equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Radian Group currently has a consensus rating of “Moderate Buy” and a consensus target price of $43.17.

Radian Group Price Performance

NYSE:RDN traded up $0.34 during trading hours on Thursday, reaching $36.90. 367,693 shares of the company’s stock were exchanged, compared to its average volume of 1,334,975. The company has a quick ratio of 0.58, a current ratio of 0.58 and a debt-to-equity ratio of 0.16. The company has a market capitalization of $4.91 billion, a P/E ratio of 9.09, a price-to-earnings-growth ratio of 0.90 and a beta of 0.73. Radian Group has a 12 month low of $31.50 and a 12 month high of $38.84. The business’s 50-day simple moving average is $35.55 and its two-hundred day simple moving average is $34.64.

Radian Group (NYSE:RDN) last announced its quarterly earnings data on Thursday, May 7th. The insurance provider reported $1.27 EPS for the quarter, beating analysts’ consensus estimates of $1.17 by $0.10. The company had revenue of $466.34 million during the quarter, compared to the consensus estimate of $377.83 million. Radian Group had a return on equity of 13.57% and a net margin of 40.50%.The company’s quarterly revenue was up 46.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.99 EPS. Sell-side analysts expect that Radian Group will post 5.17 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director Margaret Anne Leyden sold 2,070 shares of the company’s stock in a transaction on Friday, May 29th. The shares were sold at an average price of $34.59, for a total value of $71,601.30. Following the transaction, the director directly owned 6,864 shares of the company’s stock, valued at approximately $237,425.76. This represents a 23.17% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Michael S. Weinbach acquired 49,513 shares of the business’s stock in a transaction that occurred on Tuesday, June 2nd. The shares were purchased at an average price of $34.04 per share, with a total value of $1,685,422.52. Following the completion of the acquisition, the chief executive officer owned 170,000 shares of the company’s stock, valued at $5,786,800. This represents a 41.09% increase in their position. The disclosure for this purchase is available in the SEC filing. Over the last quarter, insiders have sold 75,516 shares of company stock worth $2,747,576. Insiders own 2.03% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of RDN. Charles Schwab Investment Management Inc. grew its stake in shares of Radian Group by 1.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 5,959,463 shares of the insurance provider’s stock valued at $214,481,000 after buying an additional 63,437 shares in the last quarter. Dimensional Fund Advisors LP raised its position in Radian Group by 4.0% during the first quarter. Dimensional Fund Advisors LP now owns 5,948,335 shares of the insurance provider’s stock valued at $196,773,000 after acquiring an additional 230,912 shares in the last quarter. American Century Companies Inc. lifted its stake in Radian Group by 4.4% in the third quarter. American Century Companies Inc. now owns 4,019,483 shares of the insurance provider’s stock valued at $145,586,000 after acquiring an additional 171,049 shares during the last quarter. Donald Smith & CO. Inc. lifted its stake in Radian Group by 43.7% in the fourth quarter. Donald Smith & CO. Inc. now owns 3,012,255 shares of the insurance provider’s stock valued at $108,411,000 after acquiring an additional 916,003 shares during the last quarter. Finally, Balyasny Asset Management L.P. grew its position in Radian Group by 16.8% in the fourth quarter. Balyasny Asset Management L.P. now owns 2,188,624 shares of the insurance provider’s stock worth $78,769,000 after acquiring an additional 315,575 shares in the last quarter. 95.33% of the stock is 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.