Zacks Investment Research lowered shares of Radian Group Inc. (NYSE:RDN) from a buy rating to a hold rating in a research report report published on Wednesday.
According to Zacks, “Radian Group is poised for long-term growth on expansive mortgage and real estate service offerings, declining delinquency, lower levels of paid claims and improving risk-based capital ratio. The company is on track to return to investment grade ratings with recent upgrade for Radian group and Radian Guaranty from S&P. Its initiatives to solidify the financial position and improved debt maturity profile bode well. However, stricter regulations, rising mortgage rates and a competitive market pose risks for the company. With respect to quarterly results, Radian Group’s third-quarter 2016 earnings outperformed the Zacks Consensus Estimate and also improved year over year. Notably, the company witnessed the highest volume of new flow mortgage insurance business written in the third quarter of 2016.”
RDN has been the subject of several other research reports. Bank of America Corp. assumed coverage on shares of Radian Group in a research report on Monday, October 17th. They set a buy rating and a $18.00 price target for the company. BTIG Research set a $22.00 price target on shares of Radian Group and gave the company a buy rating in a research report on Thursday, September 15th. FBR & Co increased their price target on shares of Radian Group from $14.00 to $16.00 and gave the company an outperform rating in a research report on Friday, July 29th. TheStreet raised shares of Radian Group from a hold rating to a buy rating in a research report on Thursday, August 11th. Finally, Compass Point cut shares of Radian Group from a buy rating to a neutral rating and set a $17.00 price target for the company. in a research report on Friday, October 28th. Three research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. The company currently has an average rating of Buy and a consensus price target of $17.04.
Shares of Radian Group (NYSE:RDN) opened at 14.53 on Wednesday. Radian Group has a 52-week low of $9.29 and a 52-week high of $14.88. The company has a market capitalization of $3.12 billion, a P/E ratio of 10.29 and a beta of 2.30. The stock’s 50 day moving average is $14.02 and its 200 day moving average is $12.79.
Radian Group (NYSE:RDN) last announced its quarterly earnings data on Thursday, October 27th. The company reported $0.41 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.40 by $0.01. Radian Group had a net margin of 25.97% and a return on equity of 12.73%. The company earned $320.88 million during the quarter, compared to analysts’ expectations of $229.12 million. During the same quarter in the prior year, the company earned $0.31 EPS. The firm’s revenue was up 7.9% on a year-over-year basis. Equities analysts expect that Radian Group will post $1.55 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Monday, December 5th. Stockholders of record on Monday, November 21st will be given a $0.0025 dividend. The ex-dividend date of this dividend is Thursday, November 17th. This represents a $0.01 annualized dividend and a dividend yield of 0.07%. Radian Group’s dividend payout ratio is 0.70%.
Several large investors have recently bought and sold shares of the company. Colony Group LLC acquired a new position in shares of Radian Group during the third quarter valued at about $1,733,000. Price T Rowe Associates Inc. MD raised its position in shares of Radian Group by 14.6% in the third quarter. Price T Rowe Associates Inc. MD now owns 9,829,872 shares of the company’s stock valued at $133,195,000 after buying an additional 1,249,902 shares during the last quarter. Quantitative Systematic Strategies LLC raised its position in shares of Radian Group by 23.1% in the third quarter. Quantitative Systematic Strategies LLC now owns 74,678 shares of the company’s stock valued at $1,011,000 after buying an additional 14,011 shares during the last quarter. LPL Financial LLC acquired a new position in shares of Radian Group during the third quarter valued at about $462,000. Finally, Phocas Financial Corp. raised its position in shares of Radian Group by 67.9% in the third quarter. Phocas Financial Corp. now owns 1,139,278 shares of the company’s stock valued at $15,437,000 after buying an additional 460,827 shares during the last quarter. 93.31% of the stock is owned by hedge funds and other institutional investors.
About Radian Group
Radian Group Inc is a 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.