Radian Group Inc. (NYSE:RDN) saw a significant decrease in short interest in the month of September. As of September 15th, there was short interest totalling 7,707,687 shares, a decrease of 18.6% from the August 31st total of 9,463,109 shares. Based on an average daily trading volume, of 2,323,205 shares, the days-to-cover ratio is currently 3.3 days. Approximately 3.6% of the shares of the company are short sold.
In related news, EVP Derek Brummer purchased 16,000 shares of Radian Group stock in a transaction that occurred on Wednesday, August 10th. The stock was bought at an average price of $12.87 per share, for a total transaction of $205,920.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 1.83% of the company’s stock.
Several large investors have recently added to or reduced their stakes in the stock. Calvert Investment Management Inc. purchased a new stake in Radian Group during the second quarter worth about $172,000. Amalgamated Bank increased its stake in Radian Group by 14.4% in the second quarter. Amalgamated Bank now owns 23,512 shares of the company’s stock worth $302,000 after buying an additional 2,957 shares in the last quarter. Legal & General Group Plc increased its stake in Radian Group by 7.3% in the second quarter. Legal & General Group Plc now owns 46,146 shares of the company’s stock worth $472,000 after buying an additional 3,131 shares in the last quarter. Metropolitan Life Insurance Co. NY increased its stake in Radian Group by 15.9% in the second quarter. Metropolitan Life Insurance Co. NY now owns 155,621 shares of the company’s stock worth $1,622,000 after buying an additional 21,313 shares in the last quarter. Finally, Highbridge Capital Management LLC purchased a new stake in Radian Group during the second quarter worth about $13,854,000. Institutional investors and hedge funds own 93.38% of the company’s stock.
Several equities analysts recently weighed in on the stock. Zacks Investment Research upgraded shares of Radian Group from a “sell” rating to a “hold” rating in a research report on Wednesday, August 31st. FBR & Co restated an “outperform” rating on shares of Radian Group in a research report on Friday, September 23rd. 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. Finally, TheStreet upgraded shares of Radian Group from a “hold” rating to a “buy” rating in a research report on Thursday, August 11th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and nine have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $17.00.
Shares of Radian Group (NYSE:RDN) opened at 13.55 on Monday. The stock has a market capitalization of $2.90 billion, a P/E ratio of 10.16 and a beta of 2.27. The stock has a 50 day moving average of $13.62 and a 200-day moving average of $12.31. Radian Group has a one year low of $9.29 and a one year high of $17.00.
Radian Group (NYSE:RDN) last issued its earnings results on Thursday, July 28th. The company reported $0.38 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.38. Radian Group had a return on equity of 12.64% and a net margin of 25.42%. The business earned $330.20 million during the quarter, compared to analyst estimates of $224.68 million. During the same quarter in the previous year, the firm earned $0.40 EPS. Equities analysts forecast that Radian Group will post $1.55 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Wednesday, September 7th. Shareholders of record on Monday, August 22nd were paid a dividend of $0.0025 per share. The ex-dividend date of this dividend was Thursday, August 18th. This represents a $0.01 dividend on an annualized basis and a dividend yield of 0.07%. Radian Group’s dividend payout ratio is currently 0.75%.
Radian Group Company Profile
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.
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