Radian Group Inc. (RDN) Receives “Buy” Rating from BTIG Research
“Seeks to Extend Recent Momentum with 3Q17 Report While shares of most of the U.S. private mortgage insurers (PMIs) have rallied nicely this year, a notable exception has been Radian Group (RDN).”,” the firm’s analyst commented.
Several other equities research analysts also recently commented on the company. BidaskClub downgraded Radian Group from a hold rating to a sell rating in a report on Saturday, June 24th. Zacks Investment Research downgraded Radian Group from a hold rating to a sell rating in a report on Tuesday, July 4th. ValuEngine downgraded Radian Group from a strong-buy rating to a buy rating in a report on Thursday, September 7th. Barclays PLC reissued an overweight rating and issued a $24.00 price objective (down previously from $25.00) on shares of Radian Group in a report on Wednesday, August 2nd. Finally, Compass Point reissued a neutral rating and issued a $21.25 price objective on shares of Radian Group in a report on Saturday. One investment analyst has rated the stock with a sell rating, one has given a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. Radian Group presently has an average rating of Buy and an average target price of $21.47.
Shares of Radian Group (NYSE:RDN) traded up 0.67% during mid-day trading on Friday, hitting $19.51. 463,098 shares of the stock were exchanged. The firm has a 50-day moving average price of $17.82 and a 200 day moving average price of $17.35. Radian Group has a 12-month low of $12.96 and a 12-month high of $19.87. The company has a market capitalization of $4.20 billion, a PE ratio of 22.40 and a beta of 1.51.
Radian Group (NYSE:RDN) last released its quarterly earnings data on Tuesday, August 1st. The insurance provider reported $0.48 EPS for the quarter, beating the consensus estimate of $0.40 by $0.08. The company had revenue of $302.91 million during the quarter, compared to the consensus estimate of $299.07 million. Radian Group had a return on equity of 12.81% and a net margin of 16.26%. The firm’s revenue for the quarter was up 4.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.38 EPS. On average, equities research analysts expect that Radian Group will post $1.72 earnings per share for the current year.
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Radian Group announced that its Board of Directors has initiated a stock repurchase plan on Wednesday, August 9th that allows the company to buyback $50.00 million in shares. This buyback authorization allows the insurance provider to buy up to 1.3% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s board of directors believes its stock is undervalued.
In other Radian Group news, SVP Catherine Mary Jackson sold 17,130 shares of the firm’s stock in a transaction on Tuesday, August 15th. The stock was sold at an average price of $17.22, for a total transaction of $294,978.60. Following the completion of the sale, the senior vice president now owns 80,720 shares of the company’s stock, valued at approximately $1,389,998.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Richard G. Thornberry purchased 15,000 shares of the business’s stock in a transaction on Friday, August 18th. The shares were acquired at an average cost of $16.78 per share, with a total value of $251,700.00. Following the acquisition, the chief executive officer now directly owns 15,000 shares in the company, valued at $251,700. The disclosure for this purchase can be found here. Company insiders own 1.06% of the company’s stock.
A number of institutional investors have recently made changes to their positions in RDN. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Radian Group by 11.5% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,781 shares of the insurance provider’s stock valued at $127,000 after purchasing an additional 803 shares during the last quarter. Skba Capital Management LLC acquired a new stake in Radian Group during the 2nd quarter valued at $170,000. Zacks Investment Management acquired a new stake in Radian Group during the 2nd quarter valued at $175,000. ETRADE Capital Management LLC acquired a new stake in Radian Group during the 2nd quarter valued at $183,000. Finally, Alpine Woods Capital Investors LLC lifted its holdings in Radian Group by 9.5% during the 2nd quarter. Alpine Woods Capital Investors LLC now owns 11,510 shares of the insurance provider’s stock valued at $188,000 after purchasing an additional 1,000 shares during the last quarter. 89.97% of the stock is owned by institutional investors and hedge funds.
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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