Radian Group (NYSE:RDN) Price Target Raised to $36.00

Radian Group (NYSE:RDN) had its price target raised by Barclays from $35.00 to $36.00 in a research note issued to investors on Monday,Benzinga reports. The firm currently has an equal weight rating on the insurance provider’s stock.

A number of other analysts also recently weighed in on RDN. BTIG Research started coverage on shares of Radian Group in a research report on Tuesday, September 22nd. They issued a “buy” rating and a $48.00 target price on the stock. Keefe, Bruyette & Woods cut their price objective on shares of Radian Group from $46.00 to $44.00 and set an “outperform” rating on the stock in a report on Tuesday, August 11th. Wall Street Zen raised shares of Radian Group from a “hold” rating to a “buy” rating in a research note on Saturday, September 19th. Finally, Weiss Ratings upgraded shares of Radian Group from a “buy (b)” rating to a “buy (b+)” rating in a report on Monday, September 28th. Six equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $43.14.

Radian Group Stock Down 1.3%

Shares of Radian Group stock opened at $33.67 on Monday. The company has a current ratio of 0.60, a quick ratio of 0.60 and a debt-to-equity ratio of 0.14. Radian Group has a 12-month low of $30.53 and a 12-month high of $41.05. The company has a market cap of $4.45 billion, a P/E ratio of 8.66, a PEG ratio of 0.83 and a beta of 0.71. The company’s fifty day simple moving average is $35.80 and its two-hundred day simple moving average is $35.86.

Radian Group (NYSE:RDN) last posted its earnings results on Thursday, August 6th. The insurance provider reported $1.14 EPS for the quarter, missing the consensus estimate of $1.34 by ($0.20). The company had revenue of $574.96 million during the quarter, compared to analysts’ expectations of $556.55 million. Radian Group had a return on equity of 13.65% and a net margin of 32.60%.The company’s revenue for the quarter was up 92.3% on a year-over-year basis. During the same period in the prior year, the business posted $1.01 earnings per share. Research analysts anticipate that Radian Group will post 4.86 EPS for the current year.

Radian Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 9th. Investors of record on Monday, August 24th were issued a $0.2550 dividend. This represents a $1.02 dividend on an annualized basis and a yield of 3.0%. The ex-dividend date was Monday, August 24th. Radian Group’s payout ratio is presently 26.22%.

Insider Transactions at Radian Group

In other Radian Group news, EVP Meghan Bartholomew sold 7,812 shares of the stock in a transaction on Monday, September 14th. The stock was sold at an average price of $35.94, for a total transaction of $280,763.28. Following the sale, the executive vice president directly owned 39,203 shares in the company, valued at approximately $1,408,955.82. This trade represents a 16.62% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 2.03% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of RDN. Sequoia Financial Advisors LLC lifted its holdings in shares of Radian Group by 11.0% during the second quarter. Sequoia Financial Advisors LLC now owns 7,540 shares of the insurance provider’s stock valued at $284,000 after purchasing an additional 747 shares in the last quarter. Tidal Investments LLC increased its holdings in Radian Group by 374.1% in the 2nd quarter. Tidal Investments LLC now owns 33,498 shares of the insurance provider’s stock worth $1,262,000 after buying an additional 26,432 shares in the last quarter. Integrated Wealth Concepts LLC bought a new stake in Radian Group in the 2nd quarter worth about $44,000. NewEdge Advisors LLC raised its position in Radian Group by 4.4% in the 2nd quarter. NewEdge Advisors LLC now owns 18,428 shares of the insurance provider’s stock worth $694,000 after buying an additional 776 shares during the last quarter. Finally, IFP Advisors Inc raised its position in Radian Group by 109.3% in the 2nd quarter. IFP Advisors Inc now owns 672 shares of the insurance provider’s stock worth $25,000 after buying an additional 351 shares during the last quarter. Hedge funds and other institutional investors own 95.33% of the company’s stock.

About Radian Group

Radian Group Inc (NYSE: RDN) is a financial services company focused on supporting homeownership and the U.S. residential real estate market. Its principal business is mortgage insurance, which helps protect lenders and investors against losses when borrowers default on certain residential mortgage loans. Through its mortgage insurance operations, Radian serves mortgage lenders, banks, credit unions and other housing-finance participants.

The company also provides services and technology intended to support the mortgage and homeownership lifecycle.