Radian Group (NYSE:RDN) Raised to “Hold” at Zacks Research

Radian Group (NYSE:RDN) was upgraded by investment analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a research note issued to investors on Tuesday, Zacks reports.

A number of other research analysts also recently issued reports on RDN. Keefe, Bruyette & Woods cut their price objective on Radian Group from $46.00 to $44.00 and set an “outperform” rating for the company in a research note on Tuesday, August 11th. BTIG Research started coverage on shares of Radian Group in a research note on Tuesday, September 22nd. They set a “buy” rating and a $48.00 target price on the stock. Wall Street Zen cut shares of Radian Group from a “buy” rating to a “hold” rating in a research note on Saturday, October 10th. Weiss Ratings downgraded shares of Radian Group from a “buy (b+)” rating to a “buy (b)” rating in a report on Tuesday. Finally, Barclays lifted their price target on shares of Radian Group from $35.00 to $36.00 and gave the company an “equal weight” rating in a report on Monday, October 5th. Six research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $43.14.

Radian Group Stock Performance

NYSE:RDN opened at $33.37 on Tuesday. The stock has a 50-day simple moving average of $35.26 and a two-hundred day simple moving average of $35.89. Radian Group has a 52-week low of $30.53 and a 52-week high of $41.05. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.60 and a current ratio of 0.60. The firm has a market capitalization of $4.42 billion, a PE ratio of 8.58, a P/E/G ratio of 0.82 and a beta of 0.71.

Radian Group (NYSE:RDN) last issued its quarterly earnings results on Thursday, August 6th. The insurance provider reported $1.14 EPS for the quarter, missing analysts’ consensus estimates of $1.34 by ($0.20). Radian Group had a return on equity of 13.65% and a net margin of 32.60%. The company had revenue of $574.96 million during the quarter, compared to analysts’ expectations of $556.55 million. During the same quarter in the previous year, the company earned $1.01 EPS. The business’s quarterly revenue was up 92.3% compared to the same quarter last year. Analysts forecast that Radian Group will post 4.88 EPS for the current year.

Insider Buying and Selling

In other news, EVP Meghan Bartholomew sold 7,812 shares of the business’s stock in a transaction dated Monday, September 14th. The stock was sold at an average price of $35.94, for a total value of $280,763.28. Following the transaction, the executive vice president directly owned 39,203 shares in the company, valued at $1,408,955.82. The trade was a 16.62% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 2.03% of the stock is currently owned by corporate insiders.

Institutional Trading of Radian Group

Several institutional investors have recently made changes to their positions in RDN. NorthCrest Asset Manangement LLC lifted its position in shares of Radian Group by 10.6% in the third quarter. NorthCrest Asset Manangement LLC now owns 14,065 shares of the insurance provider’s stock worth $431,000 after buying an additional 1,344 shares in the last quarter. GAMMA Investing LLC boosted its stake in Radian Group by 4.1% during the third quarter. GAMMA Investing LLC now owns 11,613 shares of the insurance provider’s stock valued at $355,000 after buying an additional 462 shares during the last quarter. Sequoia Financial Advisors LLC grew its holdings in Radian Group by 11.0% during the 2nd quarter. Sequoia Financial Advisors LLC now owns 7,540 shares of the insurance provider’s stock valued at $284,000 after buying an additional 747 shares in the last quarter. Tidal Investments LLC grew its holdings in Radian Group by 374.1% during the 2nd quarter. Tidal Investments LLC now owns 33,498 shares of the insurance provider’s stock valued at $1,262,000 after buying an additional 26,432 shares in the last quarter. Finally, Integrated Wealth Concepts LLC bought a new stake in Radian Group in the 2nd quarter worth approximately $44,000. Hedge funds and other institutional investors own 95.33% of the company’s stock.

About Radian Group

Radian Group Inc (NYSE: RDN) is a financial services company focused on supporting homeownership and the U.S. residential real estate market. Its principal business is mortgage insurance, which helps protect lenders and investors against losses when borrowers default on certain residential mortgage loans. Through its mortgage insurance operations, Radian serves mortgage lenders, banks, credit unions and other housing-finance participants.

The company also provides services and technology intended to support the mortgage and homeownership lifecycle.