Radian Group (NYSE:RDN) Upgraded to “Buy” at Wall Street Zen

Wall Street Zen upgraded shares of Radian Group (NYSE:RDN) from a hold rating to a buy rating in a report issued on Saturday.

A number of other analysts also recently issued reports on the stock. Weiss Ratings reiterated a “buy (b)” rating on shares of Radian Group in a report on Tuesday, June 16th. Bank of America raised shares of Radian Group from an “underperform” rating to a “buy” rating and increased their price objective for the company from $35.00 to $43.00 in a report on Wednesday, April 29th. Keefe, Bruyette & Woods raised their price objective on Radian Group from $43.00 to $46.00 and gave the company an “outperform” rating in a research report on Thursday, June 25th. Royal Bank Of Canada initiated coverage on Radian Group in a report on Friday, May 22nd. They issued an “outperform” rating and a $47.00 target price on the stock. Finally, Barclays boosted their target price on Radian Group from $37.00 to $39.00 and gave the stock an “equal weight” rating in a research report on Monday, May 11th. Five investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, Radian Group has an average rating of “Moderate Buy” and an average price target of $43.17.

Radian Group Trading Up 0.6%

Shares of RDN opened at $39.05 on Friday. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.58 and a quick ratio of 0.58. Radian Group has a 1 year low of $31.50 and a 1 year high of $41.05. The company has a 50 day simple moving average of $36.61 and a two-hundred day simple moving average of $35.07. The firm has a market cap of $5.19 billion, a P/E ratio of 9.62, a price-to-earnings-growth ratio of 0.98 and a beta of 0.72.

Radian Group (NYSE:RDN) last released its quarterly earnings data on Thursday, May 7th. The insurance provider reported $1.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.17 by $0.10. Radian Group had a net margin of 40.50% and a return on equity of 13.57%. The firm had revenue of $466.34 million for the quarter, compared to analysts’ expectations of $377.83 million. During the same quarter last year, the business posted $0.99 earnings per share. The company’s revenue for the quarter was up 46.6% compared to the same quarter last year. On average, equities analysts expect that Radian Group will post 5.17 earnings per share for the current fiscal year.

Radian Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 17th. Shareholders of record on Tuesday, June 2nd were paid a $0.255 dividend. This represents a $1.02 dividend on an annualized basis and a dividend yield of 2.6%. The ex-dividend date of this dividend was Tuesday, June 2nd. Radian Group’s dividend payout ratio (DPR) is presently 25.12%.

Insider Transactions at Radian Group

In related news, Director Noel Joseph Spiegel sold 4,834 shares of Radian Group stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $36.19, for a total value of $174,942.46. Following the completion of the transaction, the director owned 20,008 shares in the company, valued at approximately $724,089.52. This trade represents a 19.46% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Chairman Howard Bernard Culang sold 3,612 shares of the business’s stock in a transaction that occurred on Wednesday, May 27th. The stock was sold at an average price of $36.00, for a total value of $130,032.00. Following the sale, the chairman directly owned 8,050 shares in the company, valued at $289,800. The trade was a 30.97% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 30,516 shares of company stock worth $1,127,576. 2.03% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Radian Group

Institutional investors and hedge funds have recently modified their holdings of the stock. Northwestern Mutual Wealth Management Co. lifted its position in Radian Group by 178.9% in the third quarter. Northwestern Mutual Wealth Management Co. now owns 742 shares of the insurance provider’s stock worth $27,000 after buying an additional 476 shares during the last quarter. V Square Quantitative Management LLC purchased a new position in Radian Group during the fourth quarter worth $29,000. Geneos Wealth Management Inc. increased its position in Radian Group by 191.3% during the first quarter. Geneos Wealth Management Inc. now owns 871 shares of the insurance provider’s stock valued at $29,000 after acquiring an additional 572 shares during the last quarter. Fifth Third Bancorp increased its position in Radian Group by 65.8% during the fourth quarter. Fifth Third Bancorp now owns 907 shares of the insurance provider’s stock valued at $33,000 after acquiring an additional 360 shares during the last quarter. Finally, Measured Wealth Private Client Group LLC purchased a new stake in shares of Radian Group in the third quarter valued at $34,000. 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.