Radian Group Inc. (RDN) Receives $21.00 Consensus PT from Brokerages
Shares of Radian Group Inc. (NYSE:RDN) have been assigned an average rating of “Buy” from the eleven analysts that are presently covering the stock, Marketbeat Ratings reports. Two investment analysts have rated the stock with a sell recommendation, one has assigned a hold recommendation, seven have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $21.00.
A number of brokerages have recently weighed in on RDN. Zacks Investment Research lowered Radian Group from a “hold” rating to a “sell” rating in a research note on Tuesday, July 4th. BidaskClub upgraded Radian Group from a “sell” rating to a “hold” rating in a research note on Tuesday, June 13th. Keefe, Bruyette & Woods reiterated a “buy” rating and issued a $21.00 price target on shares of Radian Group in a research note on Tuesday, May 30th. Deutsche Bank AG decreased their price target on Radian Group from $22.00 to $21.00 and set a “buy” rating on the stock in a research note on Friday, April 28th. Finally, ValuEngine upgraded Radian Group from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, June 7th.
A number of hedge funds have recently modified their holdings of RDN. BlackRock Inc. raised its stake in shares of Radian Group by 24,173.9% in the first quarter. BlackRock Inc. now owns 14,125,455 shares of the insurance provider’s stock worth $253,692,000 after buying an additional 14,067,263 shares in the last quarter. Investec Asset Management LTD raised its stake in shares of Radian Group by 377.1% in the first quarter. Investec Asset Management LTD now owns 5,731,122 shares of the insurance provider’s stock worth $102,931,000 after buying an additional 4,529,893 shares in the last quarter. Norges Bank bought a new stake in shares of Radian Group during the fourth quarter worth approximately $40,321,000. Pennant Capital Management LLC bought a new stake in shares of Radian Group during the first quarter worth approximately $25,363,000. Finally, Vaughan Nelson Investment Management L.P. bought a new stake in shares of Radian Group during the second quarter worth approximately $17,167,000. 92.33% of the stock is owned by hedge funds and other institutional investors.
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Shares of Radian Group (RDN) traded down 0.11% during midday trading on Friday, hitting $17.38. The stock had a trading volume of 965,615 shares. The firm’s 50-day moving average is $16.60 and its 200 day moving average is $17.82. Radian Group has a one year low of $11.89 and a one year high of $19.87. The company has a market capitalization of $3.74 billion, a PE ratio of 12.18 and a beta of 1.60.
Radian Group (NYSE:RDN) last released its quarterly earnings data on Thursday, April 27th. The insurance provider reported $0.37 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.43 by $0.06. Radian Group had a net margin of 26.23% and a return on equity of 12.26%. The business had revenue of $288.80 million during the quarter, compared to analyst estimates of $304.96 million. During the same period in the previous year, the business earned $0.37 earnings per share. The business’s quarterly revenue was down 7.7% on a year-over-year basis. Equities analysts expect that Radian Group will post $1.63 earnings per share for the current fiscal year.
About Radian Group
Radian Group Inc is an insurance holding company that provides mortgage insurance, and products and services to the real estate and mortgage finance industries. The Company operates in two segments: Mortgage Insurance and Services. The Mortgage Insurance segment provides credit-related insurance coverage, principally through private mortgage insurance to mortgage lending institutions.
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