Radian Group (NYSE:RDN) Stock Rating Upgraded by Wall Street Zen

Radian Group (NYSE:RDN) was upgraded by stock analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Saturday, Wall Street Zen reports.

A number of other research analysts have also commented on RDN. Weiss Ratings lowered Radian Group from a “buy (b+)” rating to a “buy (b)” rating in a research report on Friday, September 11th. Barclays dropped their target price on Radian Group from $39.00 to $35.00 and set an “equal weight” rating for the company in a research report on Monday, August 10th. Keefe, Bruyette & Woods decreased their price target on Radian Group from $46.00 to $44.00 and set an “outperform” rating on the stock in a report on Tuesday, August 11th. Finally, Royal Bank Of Canada started coverage on Radian Group in a research report on Friday, May 22nd. They issued an “outperform” rating and a $47.00 price objective for the company. Five research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, Radian Group currently has an average rating of “Moderate Buy” and a consensus price target of $42.17.

Radian Group Price Performance

RDN opened at $34.98 on Friday. Radian Group has a one year low of $31.50 and a one year high of $41.05. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.60 and a quick ratio of 0.60. The company’s 50 day simple moving average is $37.21 and its 200-day simple moving average is $35.87. The stock has a market capitalization of $4.63 billion, a P/E ratio of 8.99, a price-to-earnings-growth ratio of 0.85 and a beta of 0.70.

Radian Group (NYSE:RDN) last issued its quarterly earnings results on Thursday, August 6th. The insurance provider reported $1.14 earnings per share for the quarter, missing analysts’ consensus estimates of $1.34 by ($0.20). Radian Group had a net margin of 32.60% and a return on equity of 13.65%. The company had revenue of $574.96 million during the quarter, compared to analyst estimates of $556.55 million. During the same period in the prior year, the business earned $1.01 EPS. The business’s revenue for the quarter was up 92.3% on a year-over-year basis. Sell-side analysts anticipate that Radian Group will post 4.86 earnings per share for the current fiscal year.

Insider Buying and Selling at Radian Group

In related news, EVP Meghan Bartholomew sold 7,812 shares of the stock in a transaction that occurred on Monday, September 14th. The shares were sold at an average price of $35.94, for a total value of $280,763.28. Following the sale, the executive vice president directly owned 39,203 shares in the company, valued at $1,408,955.82. This trade represents a 16.62% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 2.03% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Radian Group

Several hedge funds have recently bought and sold shares of the company. BlackRock Inc. acquired a new position in shares of Radian Group in the 2nd quarter valued at $728,072,000. Dimensional Fund Advisors LP raised its stake in Radian Group by 4.0% during the 1st quarter. Dimensional Fund Advisors LP now owns 5,948,335 shares of the insurance provider’s stock worth $196,773,000 after buying an additional 230,912 shares during the period. Donald Smith & CO. Inc. acquired a new stake in Radian Group during the 2nd quarter worth $163,104,000. Caisse de depot et placement du Quebec bought a new position in Radian Group during the second quarter worth about $89,334,000. Finally, Norges Bank bought a new position in Radian Group during the fourth quarter worth about $77,364,000. 95.33% of the stock is currently owned by institutional investors and hedge funds.

About Radian Group

Radian Group Inc is a Philadelphia-based provider of private mortgage insurance and related risk-management services. Through its principal subsidiary, Radian Guaranty Inc, the company helps lenders manage credit risk on residential mortgages, primarily by insuring loans that have relatively low down payments. Mortgage insurance can enable qualified borrowers to obtain home financing without making a traditional 20% down payment.

Radian’s mortgage insurance products are designed for lenders, mortgage originators and investors in the United States.