Keefe, Bruyette & Woods Forecasts Strong Price Appreciation for Radian Group (NYSE:RDN) Stock

Radian Group (NYSE:RDN) had its target price increased by investment analysts at Keefe, Bruyette & Woods from $43.00 to $46.00 in a report released on Thursday,Benzinga reports. The brokerage currently has an “outperform” rating on the insurance provider’s stock. Keefe, Bruyette & Woods’ target price suggests a potential upside of 24.66% from the company’s current price.

A number of other equities research analysts have also recently issued reports on the company. Zacks Research cut Radian Group from a “strong-buy” rating to a “hold” rating in a research report on Monday, April 20th. Bank of America raised shares of Radian Group from an “underperform” rating to a “buy” rating and lifted their price target for the company from $35.00 to $43.00 in a research report on Wednesday, April 29th. Barclays boosted their price objective on shares of Radian Group from $37.00 to $39.00 and gave the stock an “equal weight” rating in a research note on Monday, May 11th. Wall Street Zen lowered shares of Radian Group from a “buy” rating to a “hold” rating in a research note on Saturday, June 6th. Finally, Royal Bank Of Canada began coverage on shares of Radian Group in a report on Friday, May 22nd. They issued an “outperform” rating and a $47.00 target price on the stock. Five research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $43.17.

Radian Group Stock Up 0.9%

NYSE RDN traded up $0.34 during trading on Thursday, hitting $36.90. 367,693 shares of the company traded hands, compared to its average volume of 1,334,975. Radian Group has a 12 month low of $31.50 and a 12 month high of $38.84. The business has a fifty day simple moving average of $35.55 and a 200 day simple moving average of $34.64. 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 $4.91 billion, a P/E ratio of 9.09, a PEG ratio of 0.90 and a beta of 0.73.

Radian Group (NYSE:RDN) last released its quarterly earnings results on Thursday, May 7th. The insurance provider reported $1.27 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.17 by $0.10. The company had revenue of $466.34 million during the quarter, compared to the consensus estimate of $377.83 million. Radian Group had a return on equity of 13.57% and a net margin of 40.50%.The firm’s revenue was up 46.6% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.99 EPS. As a group, sell-side analysts predict that Radian Group will post 5.17 EPS for the current year.

Insider Buying and Selling

In other news, EVP Edward J. Hoffman sold 15,000 shares of the stock in a transaction that occurred on Friday, May 8th. The stock was sold at an average price of $38.00, for a total value of $570,000.00. Following the completion of the sale, the executive vice president directly owned 93,708 shares of the company’s stock, valued at approximately $3,560,904. This represents a 13.80% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Noel Joseph Spiegel sold 4,834 shares of the business’s stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $36.19, for a total transaction of $174,942.46. Following the transaction, the director directly owned 20,008 shares in the company, valued at $724,089.52. This trade represents a 19.46% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 75,516 shares of company stock valued at $2,747,576 in the last ninety days. Company insiders own 2.03% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Northwestern Mutual Wealth Management Co. lifted its stake in shares of Radian Group by 178.9% in the third quarter. Northwestern Mutual Wealth Management Co. now owns 742 shares of the insurance provider’s stock valued at $27,000 after buying an additional 476 shares during the period. V Square Quantitative Management LLC acquired a new position in Radian Group in the 4th quarter valued at approximately $29,000. Geneos Wealth Management Inc. raised its holdings in Radian Group by 191.3% in the 1st quarter. Geneos Wealth Management Inc. now owns 871 shares of the insurance provider’s stock valued at $29,000 after acquiring an additional 572 shares in the last quarter. Fifth Third Bancorp lifted its position in shares of Radian Group by 65.8% in the 4th quarter. Fifth Third Bancorp now owns 907 shares of the insurance provider’s stock worth $33,000 after acquiring an additional 360 shares during the period. Finally, Measured Wealth Private Client Group LLC bought a new stake in shares of Radian Group in the 3rd quarter worth approximately $34,000. Institutional investors and hedge funds own 95.33% of the company’s stock.

About Radian Group

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.