Royal Bank Of Canada Upgrades Radian Group (NYSE:RDN) to “Moderate Buy”

Radian Group (NYSE:RDN) was upgraded by Royal Bank Of Canada to a “moderate buy” rating in a research note issued to investors on Friday,Zacks.com reports.

RDN has been the subject of a number of other reports. UBS Group lowered their price target on Radian Group from $41.00 to $39.00 and set a “neutral” rating for the company in a report on Thursday, March 12th. Zacks Research downgraded Radian Group from a “strong-buy” rating to a “hold” rating in a report on Monday, April 20th. Keefe, Bruyette & Woods boosted their price objective on Radian Group from $42.00 to $43.00 and gave the company an “outperform” rating in a research report on Friday, April 10th. Wall Street Zen upgraded Radian Group from a “hold” rating to a “buy” rating in a research report on Saturday, May 16th. Finally, Bank of America upgraded Radian Group from an “underperform” rating to a “buy” rating and boosted their price objective for the company from $35.00 to $43.00 in a research report on Wednesday, April 29th. Five investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $42.67.

Radian Group Price Performance

Shares of NYSE RDN opened at $36.37 on Friday. Radian Group has a twelve month low of $31.50 and a twelve month high of $38.84. The company has a current ratio of 0.58, a quick ratio of 0.58 and a debt-to-equity ratio of 0.16. The company has a market capitalization of $4.84 billion, a price-to-earnings ratio of 8.96, a price-to-earnings-growth ratio of 0.93 and a beta of 0.76. The business has a 50 day simple moving average of $34.94 and a 200-day simple moving average of $34.70.

Radian Group (NYSE:RDN) last issued its quarterly earnings results on Thursday, May 7th. The insurance provider reported $1.27 earnings per share for the quarter, beating analysts’ consensus estimates of $1.17 by $0.10. Radian Group had a return on equity of 13.57% and a net margin of 40.50%.The business had revenue of $466.34 million during the quarter, compared to the consensus estimate of $377.83 million. During the same period in the previous year, the business earned $0.99 EPS. The business’s quarterly revenue was up 46.6% on a year-over-year basis. As a group, equities research analysts expect that Radian Group will post 5.23 earnings per share for the current year.

Insider Transactions at Radian Group

In other Radian Group news, EVP Edward J. Hoffman sold 15,000 shares of the business’s stock in a transaction on Friday, May 8th. The stock was sold at an average price of $38.00, for a total transaction of $570,000.00. Following the completion of the transaction, the executive vice president owned 93,708 shares in the company, valued at approximately $3,560,904. The trade was a 13.80% 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. In the last ninety days, insiders sold 60,000 shares of company stock worth $2,190,000. Insiders own 2.03% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the business. Mercer Global Advisors Inc. ADV boosted its position in Radian Group by 0.9% during the 3rd quarter. Mercer Global Advisors Inc. ADV now owns 33,365 shares of the insurance provider’s stock worth $1,208,000 after acquiring an additional 288 shares during the period. EverSource Wealth Advisors LLC boosted its position in Radian Group by 16.7% during the 3rd quarter. EverSource Wealth Advisors LLC now owns 2,170 shares of the insurance provider’s stock worth $79,000 after acquiring an additional 310 shares during the period. Bessemer Group Inc. boosted its position in Radian Group by 66.7% during the 3rd quarter. Bessemer Group Inc. now owns 795 shares of the insurance provider’s stock worth $29,000 after acquiring an additional 318 shares during the period. Hantz Financial Services Inc. boosted its position in Radian Group by 26.9% during the 4th quarter. Hantz Financial Services Inc. now owns 1,553 shares of the insurance provider’s stock worth $56,000 after acquiring an additional 329 shares during the period. Finally, Smartleaf Asset Management LLC boosted its position in Radian Group by 14.6% during the 2nd quarter. Smartleaf Asset Management LLC now owns 2,696 shares of the insurance provider’s stock worth $97,000 after acquiring an additional 344 shares during the period. Institutional investors and hedge funds 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.