Radian Group (NYSE:RDN) announced that its board has authorized a stock buyback program, which permits the company to buyback $50.00 million in shares on Wednesday, August 9th, EventVestor reports. This buyback authorization permits the insurance provider to reacquire up to 1.3% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s management believes its stock is undervalued.
Shares of Radian Group (NYSE:RDN) opened at 17.09 on Friday. The firm has a market cap of $3.68 billion, a price-to-earnings ratio of 19.62 and a beta of 1.61. The company has a 50 day moving average of $17.18 and a 200-day moving average of $17.69. Radian Group has a one year low of $12.96 and a one year high of $19.87.
Radian Group (NYSE:RDN) last released its quarterly earnings data on Tuesday, August 1st. The insurance provider reported $0.48 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.40 by $0.08. The business had revenue of $302.91 million during the quarter, compared to analysts’ expectations of $299.07 million. Radian Group had a net margin of 16.26% and a return on equity of 12.81%. The firm’s quarterly revenue was up 4.9% compared to the same quarter last year. During the same period in the prior year, the company earned $0.38 EPS. On average, analysts expect that Radian Group will post $1.72 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 1st. Investors of record on Monday, August 21st will be given a dividend of $0.0025 per share. This represents a $0.01 dividend on an annualized basis and a yield of 0.06%. The ex-dividend date of this dividend is Thursday, August 17th. Radian Group’s dividend payout ratio is 1.18%.
Several analysts have recently weighed in on RDN shares. ValuEngine raised shares of Radian Group from a “buy” rating to a “strong-buy” rating in a report on Wednesday, June 7th. Zacks Investment Research lowered shares of Radian Group from a “hold” rating to a “sell” rating in a report on Tuesday, July 4th. Keefe, Bruyette & Woods reissued a “buy” rating and issued a $21.00 price target on shares of Radian Group in a report on Friday, April 28th. Deutsche Bank AG lowered their price target on shares of Radian Group from $22.00 to $21.00 and set a “buy” rating for the company in a report on Friday, April 28th. Finally, Barclays PLC reissued an “overweight” rating and issued a $24.00 price target (down previously from $25.00) on shares of Radian Group in a report on Wednesday, August 2nd. Two analysts have rated the stock with a sell rating, one has given a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Radian Group currently has a consensus rating of “Buy” and an average target price of $20.75.
Radian Group Company Profile
Radian Group Inc is an insurance 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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