Radian Group (NYSE:RDN) Releases Earnings Results, Beats Estimates By $0.24 EPS

Radian Group (NYSE:RDN) announced its earnings results on Wednesday. The insurance provider reported $1.44 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.20 by $0.24, Zacks reports. Radian Group had a return on equity of 13.65% and a net margin of 32.60%. During the same period last year, the firm posted $1.15 EPS.

Radian Group Stock Performance

NYSE:RDN traded up $0.78 on Wednesday, hitting $36.62. The company’s stock had a trading volume of 1,024,678 shares, compared to its average volume of 1,644,002. The company has a current ratio of 0.60, a quick ratio of 0.60 and a debt-to-equity ratio of 0.14. The stock has a fifty day moving average of $34.80 and a two-hundred day moving average of $35.24. The firm has a market capitalization of $4.84 billion, a P/E ratio of 7.59, a price-to-earnings-growth ratio of 0.89 and a beta of 0.69. Radian Group has a one year low of $30.53 and a one year high of $41.05.

Radian Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 9th. Shareholders of record on Monday, August 24th were given a dividend of $0.2550 per share. This represents a $1.02 dividend on an annualized basis and a yield of 2.8%. The ex-dividend date of this dividend was Monday, August 24th. Radian Group’s payout ratio is 26.22%.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on RDN. Zacks Research raised shares of Radian Group from a “strong sell” rating to a “hold” rating in a research note on Tuesday, October 13th. Wall Street Zen cut Radian Group from a “buy” rating to a “hold” rating in a report on Saturday, October 10th. Weiss Ratings downgraded Radian Group from a “buy (b+)” rating to a “buy (b)” rating in a research report on Tuesday, October 13th. BTIG Research began coverage on Radian Group in a report on Tuesday, September 22nd. They set a “buy” rating and a $48.00 target price on the stock. Finally, Barclays increased their price target on Radian Group from $35.00 to $36.00 and gave the company an “equal weight” rating in a research report on Monday, October 5th. Six analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $43.14.

Insider Activity at Radian Group

In other news, EVP Meghan Bartholomew sold 7,812 shares of Radian Group stock in a transaction that occurred 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 completion of the transaction, the executive vice president directly owned 39,203 shares in the company, valued at approximately $1,408,955.82. The trade was a 16.62% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 2.03% of the company’s stock.

Radian Group Company Profile

Radian Group Inc (NYSE:RDN) is a financial services company that provides mortgage insurance and related services to the residential real estate industry. Through its mortgage insurance subsidiaries, including Radian Guaranty Inc, the company helps lenders manage credit risk on residential mortgages, particularly loans made to borrowers with smaller down payments. Its insurance can also help borrowers obtain home financing without contributing a traditional 20% down payment.

Radian’s mortgage insurance business serves mortgage lenders, banks, credit unions and other housing finance participants primarily in the United States.