Radian Group (NYSE:RDN) Reaches New 52-Week High – Here’s What Happened

Radian Group Inc. (NYSE:RDN)’s stock price hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $39.82 and last traded at $38.1090, with a volume of 2097629 shares. The stock had previously closed at $38.01.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on RDN shares. Bank of America upgraded shares of Radian Group from an “underperform” rating to a “buy” rating and lifted their price target for the company from $35.00 to $43.00 in a research report on Wednesday, April 29th. Wall Street Zen downgraded Radian Group from a “buy” rating to a “hold” rating in a research report on Sunday. Royal Bank Of Canada initiated coverage on shares of Radian Group in a report on Friday, May 22nd. They issued an “outperform” rating and a $47.00 price objective for the company. Barclays upped their price objective on Radian Group from $37.00 to $39.00 and gave the stock an “equal weight” rating in a research report on Monday, May 11th. Finally, Zacks Research cut Radian Group from a “strong-buy” rating to a “hold” rating in a research note on Monday, April 20th. Five equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, Radian Group presently has an average rating of “Moderate Buy” and an average target price of $43.17.

Radian Group Trading Up 2.2%

The business’s 50-day moving average is $36.22 and its two-hundred day moving average is $34.83. The stock has a market capitalization of $5.02 billion, a PE ratio of 9.29, a PEG ratio of 0.93 and a beta of 0.72. The company has a quick ratio of 0.58, a current ratio of 0.58 and a debt-to-equity ratio of 0.16.

Radian Group (NYSE:RDN) last released its quarterly earnings results on Thursday, May 7th. The insurance provider reported $1.27 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.17 by $0.10. The firm had revenue of $466.34 million for the quarter, compared to the consensus estimate of $377.83 million. Radian Group had a return on equity of 13.57% and a net margin of 40.50%.The firm’s quarterly revenue was up 46.6% compared to the same quarter last year. During the same quarter last year, the business posted $0.99 EPS. On average, analysts anticipate that Radian Group Inc. will post 5.17 earnings per share for the current fiscal year.

Radian Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 17th. Investors of record on Tuesday, June 2nd were issued a dividend of $0.255 per share. The ex-dividend date of this dividend was Tuesday, June 2nd. This represents a $1.02 dividend on an annualized basis and a dividend yield of 2.7%. Radian Group’s dividend payout ratio (DPR) is currently 25.12%.

Insider Buying and Selling

In related news, Chairman Howard Bernard Culang sold 5,000 shares of the stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $36.20, for a total transaction of $181,000.00. Following the completion of the sale, the chairman directly owned 11,662 shares of the company’s stock, valued at $422,164.40. This trade represents a 30.01% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Margaret Anne Leyden sold 2,070 shares of Radian Group stock in a transaction on Friday, May 29th. The shares were sold at an average price of $34.59, for a total transaction of $71,601.30. Following the completion of the transaction, the director owned 6,864 shares in the company, valued at approximately $237,425.76. This trade represents a 23.17% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last ninety days, insiders sold 73,525 shares of company stock worth $2,677,891. 2.03% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Radian Group

Large investors have recently bought and sold shares of the company. Northwestern Mutual Wealth Management Co. boosted its holdings in shares of Radian Group by 178.9% in the third quarter. Northwestern Mutual Wealth Management Co. now owns 742 shares of the insurance provider’s stock valued at $27,000 after acquiring an additional 476 shares in the last quarter. V Square Quantitative Management LLC purchased a new stake in Radian Group in the 4th quarter valued at approximately $29,000. Geneos Wealth Management Inc. boosted its holdings in Radian Group by 191.3% in the 1st quarter. Geneos Wealth Management Inc. now owns 871 shares of the insurance provider’s stock valued at $29,000 after purchasing an additional 572 shares in the last quarter. Fifth Third Bancorp increased its position in Radian Group by 65.8% during the 4th quarter. Fifth Third Bancorp now owns 907 shares of the insurance provider’s stock worth $33,000 after purchasing an additional 360 shares during the period. Finally, Measured Wealth Private Client Group LLC acquired a new position in Radian Group during the 3rd quarter worth approximately $34,000. Hedge funds and other institutional investors own 95.33% of the company’s stock.

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.