Barclays Issues Positive Forecast for Radian Group (NYSE:RDN) Stock Price

Radian Group (NYSE:RDN) had its target price upped by Barclays from $34.00 to $35.00 in a research report report published on Tuesday morning,Benzinga reports. They currently have an equal weight rating on the insurance provider’s stock.

RDN has been the topic of a number of other research reports. Keefe, Bruyette & Woods cut Radian Group from a “moderate buy” rating to a “hold” rating and set a $38.00 price objective on the stock. in a research note on Monday. Compass Point cut Radian Group from a “strong-buy” rating to a “hold” rating in a research note on Friday, May 23rd. Finally, UBS Group increased their price target on Radian Group from $34.00 to $36.00 and gave the company a “neutral” rating in a research note on Monday, May 5th. Five equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to MarketBeat, Radian Group currently has a consensus rating of “Hold” and a consensus price target of $37.17.

Radian Group Trading Down 0.1%

NYSE RDN opened at $35.65 on Tuesday. The stock has a market capitalization of $4.79 billion, a price-to-earnings ratio of 9.07 and a beta of 0.72. The stock’s 50 day moving average price is $34.41 and its two-hundred day moving average price is $33.05. The company has a debt-to-equity ratio of 0.52, a quick ratio of 3.44 and a current ratio of 3.44. Radian Group has a 52 week low of $29.32 and a 52 week high of $37.86.

Radian Group (NYSE:RDN) last announced its quarterly earnings data on Wednesday, April 30th. The insurance provider reported $0.99 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.95 by $0.04. Radian Group had a return on equity of 13.54% and a net margin of 46.29%. The company had revenue of $318.11 million for the quarter, compared to analysts’ expectations of $326.99 million. During the same quarter in the prior year, the business posted $1.03 EPS. The business’s revenue was down .4% compared to the same quarter last year. As a group, analysts anticipate that Radian Group will post 3.79 earnings per share for the current fiscal year.

Radian Group declared that its Board of Directors has approved a share repurchase plan on Wednesday, May 21st that permits the company to repurchase $750.00 million in outstanding shares. This repurchase authorization permits the insurance provider to purchase up to 16.9% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s board of directors believes its stock is undervalued.

Radian Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 17th. Shareholders of record on Monday, June 2nd were issued a $0.255 dividend. This represents a $1.02 dividend on an annualized basis and a yield of 2.86%. The ex-dividend date was Monday, June 2nd. Radian Group’s dividend payout ratio is 25.95%.

Insider Transactions at Radian Group

In other news, Director Noel Joseph Spiegel sold 5,105 shares of the stock in a transaction on Friday, June 6th. The stock was sold at an average price of $33.66, for a total transaction of $171,834.30. Following the sale, the director directly owned 20,008 shares of the company’s stock, valued at approximately $673,469.28. This represents a 20.33% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Lisa Mumford sold 2,500 shares of the stock in a transaction on Friday, June 6th. The stock was sold at an average price of $33.45, for a total value of $83,625.00. Following the sale, the director directly owned 22,329 shares in the company, valued at approximately $746,905.05. This trade represents a 10.07% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 86,378 shares of company stock worth $2,944,414. 2.16% of the stock is currently owned by company insiders.

Institutional Trading of Radian Group

Several large investors have recently modified their holdings of the stock. Strs Ohio acquired a new stake in shares of Radian Group during the 1st quarter worth $427,000. Geneos Wealth Management Inc. grew its holdings in shares of Radian Group by 191.3% during the 1st quarter. Geneos Wealth Management Inc. now owns 871 shares of the insurance provider’s stock worth $29,000 after purchasing an additional 572 shares in the last quarter. Intech Investment Management LLC grew its holdings in shares of Radian Group by 10.3% during the 1st quarter. Intech Investment Management LLC now owns 69,029 shares of the insurance provider’s stock worth $2,283,000 after purchasing an additional 6,429 shares in the last quarter. Jane Street Group LLC grew its holdings in shares of Radian Group by 11,446.4% during the 1st quarter. Jane Street Group LLC now owns 1,310,517 shares of the insurance provider’s stock worth $43,339,000 after purchasing an additional 1,299,167 shares in the last quarter. Finally, United Services Automobile Association bought a new stake in shares of Radian Group during the 1st quarter worth $326,000. 95.33% of the stock is owned by institutional investors and hedge funds.

Radian Group Company Profile

Radian Group Inc, together with its subsidiaries, engages in the mortgage and real estate services business in the United States. It operates through two segments, Mortgage Insurance and Homegenius segments. The Mortgage Insurance segment aggregates, manages, and distributes U.S. mortgage credit risk for mortgage lending institutions and mortgage credit investors, through private mortgage insurance on residential first-lien mortgage loans; and other credit risk management solutions, including contract underwriting.