Radian Group (NYSE:RDN) Lowered to “Hold” Rating by Wall Street Zen

Wall Street Zen cut shares of Radian Group (NYSE:RDN) from a buy rating to a hold rating in a research note issued to investors on Sunday.

Other analysts have also issued research reports about the stock. Royal Bank Of Canada started coverage on shares of Radian Group in a research note on Friday, May 22nd. They set an “outperform” rating and a $47.00 target price for the company. Weiss Ratings restated a “buy (b)” rating on shares of Radian Group in a research report on Tuesday, June 16th. Zacks Research lowered shares of Radian Group from a “strong-buy” rating to a “hold” rating in a report on Monday, April 20th. Keefe, Bruyette & Woods boosted their price objective on shares of Radian Group from $43.00 to $46.00 and gave the company an “outperform” rating in a research report on Thursday, June 25th. Finally, Bank of America upgraded shares of Radian Group from an “underperform” rating to a “buy” rating and increased their price objective for the stock from $35.00 to $43.00 in a research note on Wednesday, April 29th. Five research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $43.17.

Radian Group Price Performance

Shares of NYSE RDN opened at $36.97 on Friday. Radian Group has a twelve month low of $31.50 and a twelve month high of $41.05. The company has a current ratio of 0.41, a quick ratio of 0.58 and a debt-to-equity ratio of 0.14. The company has a market capitalization of $4.92 billion, a price-to-earnings ratio of 9.50, a price-to-earnings-growth ratio of 0.88 and a beta of 0.72. The business has a 50 day simple moving average of $36.91 and a 200-day simple moving average of $35.28.

Radian Group (NYSE:RDN) last posted its quarterly earnings results on Wednesday, August 5th. The insurance provider reported $1.14 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.34 by ($0.20). Radian Group had a net margin of 32.60% and a return on equity of 13.65%. The firm had revenue of $574.96 million for the quarter, compared to analyst estimates of $556.55 million. During the same period in the prior year, the company posted $1.01 earnings per share. The business’s revenue was up 92.3% on a year-over-year basis. As a group, equities research analysts expect that Radian Group will post 4.93 earnings per share for the current year.

Radian Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 17th. Shareholders of record on Tuesday, June 2nd were given a dividend of $0.255 per share. This represents a $1.02 dividend on an annualized basis and a dividend yield of 2.8%. The ex-dividend date was Tuesday, June 2nd. Radian Group’s payout ratio is 26.22%.

Insider Activity at Radian Group

In related news, Director Noel Joseph Spiegel sold 4,834 shares of the firm’s stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $36.19, for a total transaction of $174,942.46. Following the transaction, the director owned 20,008 shares in the company, valued at $724,089.52. This trade represents a 19.46% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman Howard Bernard Culang sold 3,612 shares of the business’s stock in a transaction that occurred on Wednesday, May 27th. The stock was sold at an average price of $36.00, for a total value of $130,032.00. Following the sale, the chairman directly owned 8,050 shares in the company, valued at approximately $289,800. The trade was a 30.97% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 15,517 shares of company stock valued at $557,610. 2.03% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Radian Group

A number of institutional investors have recently added to or reduced their stakes in RDN. BlackRock Inc. bought a new stake in Radian Group during the second quarter worth approximately $728,072,000. Norges Bank acquired a new position in Radian Group in the fourth quarter worth approximately $77,364,000. Bank of New York Mellon Corp bought a new position in shares of Radian Group in the second quarter valued at $42,769,000. Balyasny Asset Management L.P. increased its holdings in shares of Radian Group by 151.7% in the third quarter. Balyasny Asset Management L.P. now owns 1,873,049 shares of the insurance provider’s stock valued at $67,842,000 after buying an additional 1,128,852 shares in the last quarter. Finally, Donald Smith & CO. Inc. lifted its position in shares of Radian Group by 43.7% during the 4th quarter. Donald Smith & CO. Inc. now owns 3,012,255 shares of the insurance provider’s stock valued at $108,411,000 after acquiring an additional 916,003 shares during the last quarter. 95.33% of the stock is currently owned by institutional investors and hedge funds.

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.