Radian Group (NYSE:RDN) Rating Increased to Outperform at Keefe, Bruyette & Woods

Keefe, Bruyette & Woods upgraded shares of Radian Group (NYSE:RDN) from a market perform rating to an outperform rating in a report published on Wednesday, Marketbeat reports. The brokerage currently has $42.00 price objective on the insurance provider’s stock, up from their prior price objective of $41.00.

A number of other equities analysts also recently issued reports on RDN. UBS Group cut their price target on Radian Group from $43.00 to $40.00 and set a “neutral” rating for the company in a research note on Wednesday, October 15th. Zacks Research downgraded Radian Group from a “strong-buy” rating to a “hold” rating in a report on Tuesday, January 6th. Weiss Ratings cut Radian Group from a “buy (a-)” rating to a “buy (b+)” rating in a research note on Tuesday, January 13th. Finally, Roth Mkm restated a “buy” rating and set a $45.00 price target on shares of Radian Group in a report on Friday, January 2nd. Three equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, Radian Group presently has an average rating of “Hold” and an average target price of $40.20.

Radian Group Stock Down 0.4%

RDN stock traded down $0.14 during midday trading on Wednesday, reaching $34.10. 70,310 shares of the company’s stock traded hands, compared to its average volume of 1,156,737. The company has a quick ratio of 1.67, a current ratio of 1.67 and a debt-to-equity ratio of 0.24. The firm’s fifty day moving average price is $34.67 and its 200-day moving average price is $34.68. Radian Group has a 52 week low of $29.32 and a 52 week high of $38.84. The company has a market cap of $4.62 billion, a price-to-earnings ratio of 8.50 and a beta of 0.81.

Radian Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 10th. Shareholders of record on Monday, February 23rd will be paid a $0.255 dividend. This represents a $1.02 dividend on an annualized basis and a yield of 3.0%. The ex-dividend date is Monday, February 23rd. Radian Group’s dividend payout ratio is currently 25.44%.

Insider Activity

In other news, EVP Eric Ray sold 13,957 shares of the business’s stock in a transaction dated Tuesday, December 2nd. The stock was sold at an average price of $35.60, for a total transaction of $496,869.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 2.01% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Norges Bank purchased a new position in shares of Radian Group during the second quarter worth approximately $85,785,000. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new position in shares of Radian Group in the second quarter worth about $69,714,000. Balyasny Asset Management L.P. lifted its stake in shares of Radian Group by 151.7% in the 3rd quarter. Balyasny Asset Management L.P. now owns 1,873,049 shares of the insurance provider’s stock valued at $67,842,000 after acquiring an additional 1,128,852 shares during the last quarter. Donald Smith & CO. Inc. boosted its holdings in 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 period. Finally, Vanguard Group Inc. grew its position in Radian Group by 2.7% during the 3rd quarter. Vanguard Group Inc. now owns 16,272,597 shares of the insurance provider’s stock worth $589,393,000 after acquiring an additional 427,473 shares during the last quarter. 95.33% of the stock is currently owned by hedge funds and other institutional investors.

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.