Radian Group Inc. (RDN) To Go Ex-Dividend on June 2nd

Radian Group Inc. (NYSE:RDN) declared a quarterly dividend on Thursday, May 22nd, Wall Street Journal reports. Stockholders of record on Monday, June 2nd will be given a dividend of 0.255 per share by the insurance provider on Tuesday, June 17th. This represents a $1.02 annualized dividend and a dividend yield of 3.06%. The ex-dividend date is Monday, June 2nd.

Radian Group has raised its dividend payment by an average of 21.6% annually over the last three years and has increased its dividend annually for the last 6 consecutive years. Radian Group has a dividend payout ratio of 26.0% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Radian Group to earn $3.92 per share next year, which means the company should continue to be able to cover its $1.02 annual dividend with an expected future payout ratio of 26.0%.

Radian Group Stock Performance

Radian Group stock opened at $33.28 on Friday. Radian Group has a twelve month low of $29.32 and a twelve month high of $37.86. The company has a quick ratio of 2.01, a current ratio of 2.87 and a debt-to-equity ratio of 0.50. The company has a market capitalization of $4.47 billion, a P/E ratio of 8.47, a PEG ratio of 1.73 and a beta of 0.71. The stock’s 50 day moving average is $32.65 and its 200 day moving average is $32.92.

Radian Group (NYSE:RDN) last released its earnings results on Wednesday, April 30th. The insurance provider reported $0.99 EPS for the quarter, topping the consensus estimate of $0.95 by $0.04. Radian Group had a return on equity of 13.96% and a net margin of 46.85%. The business had revenue of $318.11 million for the quarter, compared to the consensus estimate of $326.99 million. During the same period in the previous year, the company posted $1.03 earnings per share. The company’s revenue for the quarter was down .4% compared to the same quarter last year. On average, equities research analysts predict that Radian Group will post 3.79 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

RDN has been the topic of several recent analyst reports. UBS Group increased their price objective on shares of Radian Group from $34.00 to $36.00 and gave the company a “neutral” rating in a research report on Monday, May 5th. Compass Point downgraded shares of Radian Group from a “strong-buy” rating to a “hold” rating in a research note on Friday. Finally, Keefe, Bruyette & Woods reissued an “outperform” rating and issued a $38.00 target price (up previously from $37.00) on shares of Radian Group in a report on Friday, May 2nd. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $36.83.

Radian Group declared that its board has initiated a stock repurchase program on Wednesday, May 21st that authorizes the company to repurchase $750.00 million in shares. This repurchase authorization authorizes the insurance provider to buy up to 16.9% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s board of directors believes its shares are undervalued.

Insiders Place Their Bets

In other news, Director Gregory Serio sold 4,100 shares of the stock in a transaction on Friday, February 28th. The stock was sold at an average price of $32.65, for a total transaction of $133,865.00. Following the transaction, the director now directly owns 344 shares of the company’s stock, valued at $11,231.60. This represents a 92.26% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 2.01% of the stock is currently owned by insiders.

Institutional Trading of Radian Group

An institutional investor recently raised its position in Radian Group stock. Geneos Wealth Management Inc. raised its position in shares of Radian Group Inc. (NYSE:RDN) by 191.3% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 871 shares of the insurance provider’s stock after purchasing an additional 572 shares during the quarter. Geneos Wealth Management Inc.’s holdings in Radian Group were worth $29,000 as of its most recent SEC filing. 95.33% of the stock is owned by hedge funds and other institutional investors.

Radian Group Company Profile

Radian Group Inc, together with its subsidiaries, engages in the mortgage and real estate services business in the United States. It operates through two segments, Mortgage Insurance and Homegenius segments. The Mortgage Insurance segment aggregates, manages, and distributes U.S. mortgage credit risk for mortgage lending institutions and mortgage credit investors, through private mortgage insurance on residential first-lien mortgage loans; and other credit risk management solutions, including contract underwriting.