Radian Group (NYSE:RDN) Posts Quarterly Earnings Results, Beats Estimates By $0.10 EPS

Radian Group (NYSE:RDN) released its quarterly earnings results on Wednesday. The insurance provider reported $1.27 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.17 by $0.10, Zacks reports. Radian Group had a return on equity of 13.07% and a net margin of 46.99%.The firm’s quarterly revenue was up 46.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.99 earnings per share.

Radian Group Stock Up 0.5%

NYSE RDN opened at $35.75 on Thursday. The stock has a market cap of $4.82 billion, a PE ratio of 8.61, a P/E/G ratio of 1.38 and a beta of 0.76. Radian Group has a fifty-two week low of $31.50 and a fifty-two week high of $38.84. The business has a 50 day moving average price of $34.21 and a two-hundred day moving average price of $34.41. The company has a quick ratio of 3.40, a current ratio of 3.40 and a debt-to-equity ratio of 0.23.

Radian Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 10th. Shareholders of record on Monday, February 23rd were issued a $0.255 dividend. This represents a $1.02 dividend on an annualized basis and a yield of 2.9%. The ex-dividend date was Monday, February 23rd. Radian Group’s dividend payout ratio is currently 24.58%.

Insiders Place Their Bets

In other Radian Group news, EVP Edward J. Hoffman sold 15,000 shares of the company’s stock in a transaction that occurred on Wednesday, April 29th. The stock was sold at an average price of $37.00, for a total value of $555,000.00. Following the completion of the transaction, the executive vice president owned 108,708 shares in the company, valued at $4,022,196. This represents a 12.13% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 45,000 shares of company stock valued at $1,620,000. 2.03% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Radian Group

A number of institutional investors and hedge funds have recently bought and sold shares of RDN. Northwestern Mutual Wealth Management Co. boosted its holdings in Radian Group by 178.9% in the 3rd quarter. Northwestern Mutual Wealth Management Co. now owns 742 shares of the insurance provider’s stock worth $27,000 after acquiring an additional 476 shares during the period. Geneos Wealth Management Inc. boosted its holdings in Radian Group by 191.3% in the 1st 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. Measured Wealth Private Client Group LLC purchased a new position in Radian Group in the 3rd quarter worth approximately $34,000. Global Retirement Partners LLC raised its position in shares of Radian Group by 1,002.1% in the 4th quarter. Global Retirement Partners LLC now owns 1,058 shares of the insurance provider’s stock valued at $38,000 after purchasing an additional 962 shares in the last quarter. Finally, Headlands Technologies LLC purchased a new position in shares of Radian Group during the 2nd quarter valued at approximately $50,000. Hedge funds and other institutional investors own 95.33% of the company’s stock.

Analysts Set New Price Targets

Several research firms have commented on RDN. Bank of America upgraded Radian Group from an “underperform” rating to a “buy” rating and lifted their price target for the company from $35.00 to $43.00 in a report on Wednesday, April 29th. Barclays lowered their price target on Radian Group from $40.00 to $37.00 and set an “equal weight” rating for the company in a report on Monday, April 6th. Keefe, Bruyette & Woods lifted their price target on Radian Group from $42.00 to $43.00 and gave the company an “outperform” rating in a report on Friday, April 10th. UBS Group lowered their price target on Radian Group from $41.00 to $39.00 and set a “neutral” rating for the company in a report on Thursday, March 12th. Finally, Zacks Research cut Radian Group from a “strong-buy” rating to a “hold” rating in a report on Monday, April 20th. Four investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $40.67.

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.