Royal Bank Of Canada upgraded shares of Radian Group (NYSE:RDN – Free Report) to a moderate buy rating in a research report report published on Friday, MarketBeat reports. They currently have $47.00 target price on the insurance provider’s stock.
Several other research analysts have also commented on the company. Barclays lifted their price target 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. Zacks Research lowered Radian Group from a “strong-buy” rating to a “hold” rating in a research report on Monday, April 20th. UBS Group cut their price target on Radian Group from $41.00 to $39.00 and set a “neutral” rating on the stock in a research report on Thursday, March 12th. Wall Street Zen raised Radian Group from a “hold” rating to a “buy” rating in a research report on Saturday, May 16th. Finally, Bank of America raised Radian Group from an “underperform” rating to a “buy” rating and lifted their price target for the stock from $35.00 to $43.00 in a research report on Wednesday, April 29th. Five equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Radian Group presently has a consensus rating of “Moderate Buy” and an average price target of $42.67.
Get Our Latest Stock Report on RDN
Radian Group Price Performance
Radian Group (NYSE:RDN – Get Free Report) last posted its earnings results on Thursday, May 7th. The insurance provider reported $1.27 earnings per share for the quarter, topping the consensus estimate of $1.17 by $0.10. The firm had revenue of $466.34 million during the quarter, compared to analysts’ expectations of $377.83 million. Radian Group had a return on equity of 13.57% and a net margin of 40.50%.The firm’s revenue was up 46.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.99 earnings per share. Equities research analysts anticipate that Radian Group will post 5.23 earnings per share for the current fiscal year.
Radian Group Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 17th. Stockholders of record on Tuesday, June 2nd will be issued a $0.255 dividend. The ex-dividend date of this dividend is Tuesday, June 2nd. This represents a $1.02 dividend on an annualized basis and a dividend yield of 2.8%. Radian Group’s payout ratio is presently 25.12%.
Insider Activity
In other news, EVP Edward J. Hoffman sold 15,000 shares of the business’s stock in a transaction that occurred on Friday, May 8th. The stock was sold at an average price of $38.00, for a total value of $570,000.00. Following the transaction, the executive vice president owned 93,708 shares of the company’s stock, valued at approximately $3,560,904. The trade was a 13.80% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 60,000 shares of company stock valued at $2,190,000 over the last quarter. Insiders own 2.03% of the company’s stock.
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently bought and sold shares of RDN. Jones Financial Companies Lllp grew its holdings in Radian Group by 14.8% during the first quarter. Jones Financial Companies Lllp now owns 2,764 shares of the insurance provider’s stock worth $91,000 after acquiring an additional 357 shares during the period. Geneos Wealth Management Inc. grew its holdings in Radian Group by 191.3% during the first quarter. Geneos Wealth Management Inc. now owns 871 shares of the insurance provider’s stock worth $29,000 after acquiring an additional 572 shares during the period. EverSource Wealth Advisors LLC grew its holdings in Radian Group by 94.0% during the second quarter. EverSource Wealth Advisors LLC now owns 1,860 shares of the insurance provider’s stock worth $67,000 after acquiring an additional 901 shares during the period. Walleye Capital LLC acquired a new position in Radian Group during the second quarter worth $239,000. Finally, Marshall Wace LLP acquired a new position in Radian Group during the second quarter worth $452,000. Institutional investors and hedge funds own 95.33% of the company’s stock.
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.
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