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

Zacks Research upgraded shares of Radian Group (NYSE:RDN) from a strong sell rating to a hold rating in a research note issued to investors on Tuesday morning,Zacks reports.

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

Radian Group Stock Performance

Shares of RDN opened at $33.37 on Tuesday. The firm has a market cap of $4.42 billion, a price-to-earnings ratio of 8.58, a price-to-earnings-growth ratio of 0.82 and a beta of 0.71. The company’s fifty day moving average is $35.26 and its 200-day moving average is $35.89. The company has a quick ratio of 0.60, a current ratio of 0.60 and a debt-to-equity ratio of 0.14. Radian Group has a 12 month low of $30.53 and a 12 month high of $41.05.

Radian Group (NYSE:RDN) last released its quarterly earnings data on Thursday, August 6th. The insurance provider reported $1.14 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.34 by ($0.20). The business had revenue of $574.96 million during the quarter, compared to analyst estimates of $556.55 million. Radian Group had a net margin of 32.60% and a return on equity of 13.65%. The firm’s revenue for the quarter was up 92.3% on a year-over-year basis. During the same period in the previous year, the firm posted $1.01 EPS. Equities analysts expect that Radian Group will post 4.88 EPS for the current fiscal year.

Radian Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 9th. Stockholders of record on Monday, August 24th were issued a dividend of $0.2550 per share. The ex-dividend date was Monday, August 24th. This represents a $1.02 dividend on an annualized basis and a dividend yield of 3.1%. Radian Group’s payout ratio is 26.22%.

Insider Buying and Selling at Radian Group

In other news, EVP Meghan Bartholomew sold 7,812 shares of the stock in a transaction that occurred on Monday, September 14th. The stock was sold at an average price of $35.94, for a total value of $280,763.28. Following the completion of the sale, the executive vice president directly owned 39,203 shares of the company’s stock, valued at approximately $1,408,955.82. This represents a 16.62% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 2.03% of the company’s stock.

Hedge Funds Weigh In On Radian Group

Large investors have recently bought and sold shares of the stock. IFP Advisors Inc raised its position in shares of Radian Group by 109.3% during the second quarter. IFP Advisors Inc now owns 672 shares of the insurance provider’s stock worth $25,000 after acquiring an additional 351 shares during the last quarter. Global Retirement Partners LLC bought a new position in Radian Group in the second quarter valued at about $37,000. Integrated Wealth Concepts LLC bought a new position in Radian Group in the second quarter valued at about $44,000. Root Financial Partners LLC boosted its holdings in Radian Group by 67.3% in the first quarter. Root Financial Partners LLC now owns 1,288 shares of the insurance provider’s stock valued at $43,000 after acquiring an additional 518 shares during the last quarter. Finally, Nykredit A S acquired a new stake in Radian Group in the second quarter worth about $55,000. 95.33% of the stock is currently owned by institutional investors and hedge funds.

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.