Radian Group (NYSE:RDN) Cut to Hold at Wall Street Zen

Wall Street Zen lowered shares of Radian Group (NYSE:RDN) from a buy rating to a hold rating in a research note published on Saturday morning,Wall Street Zen reports.

Several other equities analysts have also recently issued reports on RDN. BTIG Research started coverage on Radian Group in a research note on Tuesday, September 22nd. They issued a “buy” rating and a $48.00 price objective for the company. Keefe, Bruyette & Woods cut their target price on shares of Radian Group from $46.00 to $44.00 and set an “outperform” rating on the stock in a research note on Tuesday, August 11th. Weiss Ratings raised shares of Radian Group from a “buy (b)” rating to a “buy (b+)” rating in a report on Monday, September 28th. Barclays raised their target price on shares of Radian Group from $35.00 to $36.00 and gave the company an “equal weight” rating in a report on Monday, October 5th. Finally, Zacks Research downgraded shares of Radian Group from a “hold” rating to a “strong sell” rating in a research note on Tuesday, October 6th. Six research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Radian Group presently has a consensus rating of “Moderate Buy” and an average target price of $43.14.

Radian Group Trading Down 0.3%

NYSE:RDN opened at $33.82 on Friday. Radian Group has a 12-month low of $30.53 and a 12-month high of $41.05. The firm has a market cap of $4.47 billion, a PE ratio of 8.69, a price-to-earnings-growth ratio of 0.82 and a beta of 0.71. 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 price of $35.49 and a 200 day moving average price of $35.88.

Radian Group (NYSE:RDN) last issued its quarterly earnings results on Thursday, August 6th. The insurance provider reported $1.14 earnings per share for the quarter, missing the consensus estimate of $1.34 by ($0.20). The company had revenue of $574.96 million for the quarter, compared to analysts’ expectations of $556.55 million. Radian Group had a return on equity of 13.65% and a net margin of 32.60%. Radian Group’s revenue for the quarter was up 92.3% compared to the same quarter last year. During the same quarter last year, the company earned $1.01 EPS. Sell-side analysts anticipate that Radian Group will post 4.88 earnings per share for the current fiscal year.

Radian Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 9th. Investors of record on Monday, August 24th were issued a $0.2550 dividend. This represents a $1.02 annualized dividend and a yield of 3.0%. The ex-dividend date of this dividend was Monday, August 24th. Radian Group’s dividend payout ratio is 26.22%.

Insiders Place Their Bets

In other Radian Group news, EVP Meghan Bartholomew sold 7,812 shares of the firm’s stock in a transaction on Monday, September 14th. The stock was sold at an average price of $35.94, for a total value of $280,763.28. Following the sale, the executive vice president directly owned 39,203 shares in the company, valued at $1,408,955.82. This trade represents a 16.62% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 2.03% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the business. IFP Advisors Inc lifted its holdings in shares of Radian Group by 109.3% in the 2nd quarter. IFP Advisors Inc now owns 672 shares of the insurance provider’s stock valued at $25,000 after purchasing an additional 351 shares during the last quarter. Arizona State Retirement System grew its stake in Radian Group by 1.0% during the 2nd quarter. Arizona State Retirement System now owns 37,602 shares of the insurance provider’s stock worth $1,416,000 after buying an additional 387 shares during the last quarter. GAMMA Investing LLC grew its stake in Radian Group by 4.1% during the 3rd quarter. GAMMA Investing LLC now owns 11,613 shares of the insurance provider’s stock worth $355,000 after buying an additional 462 shares during the last quarter. Root Financial Partners LLC grew its stake in Radian Group by 67.3% during the 1st quarter. Root Financial Partners LLC now owns 1,288 shares of the insurance provider’s stock worth $43,000 after buying an additional 518 shares during the last quarter. Finally, Corient Private Wealth LLC grew its stake in Radian Group by 3.1% during the 4th quarter. Corient Private Wealth LLC now owns 21,249 shares of the insurance provider’s stock worth $765,000 after buying an additional 647 shares during the last quarter. Hedge funds and other institutional investors own 95.33% of the company’s stock.

Radian Group Company Profile

Radian Group Inc (NYSE: RDN) is a financial services company focused on supporting homeownership and the U.S. residential real estate market. Its principal business is mortgage insurance, which helps protect lenders and investors against losses when borrowers default on certain residential mortgage loans. Through its mortgage insurance operations, Radian serves mortgage lenders, banks, credit unions and other housing-finance participants.

The company also provides services and technology intended to support the mortgage and homeownership lifecycle.