Radian Group (NYSE:RDN) Releases Earnings Results, Beats Expectations By $0.41 EPS

Radian Group (NYSE:RDNGet Rating) posted its quarterly earnings results on Tuesday. The insurance provider reported $1.17 EPS for the quarter, topping analysts’ consensus estimates of $0.76 by $0.41, MarketWatch Earnings reports. The company had revenue of $292.98 million for the quarter, compared to analysts’ expectations of $318.22 million. Radian Group had a net margin of 45.17% and a return on equity of 14.02%. Radian Group’s revenue was down 10.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.68 EPS.

RDN opened at $22.10 on Wednesday. The firm’s fifty day moving average price is $22.58. The stock has a market cap of $3.88 billion, a price-to-earnings ratio of 6.95, a P/E/G ratio of 1.31 and a beta of 1.22. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.02 and a quick ratio of 1.02. Radian Group has a one year low of $19.17 and a one year high of $24.86.

The company also recently declared a quarterly dividend, which was paid on Thursday, March 3rd. Stockholders of record on Monday, February 21st were given a dividend of $0.20 per share. This is a positive change from Radian Group’s previous quarterly dividend of $0.14. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.62%. The ex-dividend date was Thursday, February 17th. Radian Group’s payout ratio is 25.16%.

A number of research firms recently commented on RDN. Zacks Investment Research raised shares of Radian Group from a “hold” rating to a “strong-buy” rating and set a $27.00 price target on the stock in a report on Tuesday, January 11th. BTIG Research reduced their price objective on shares of Radian Group from $28.00 to $26.00 in a research note on Tuesday, April 12th. Barclays lifted their price objective on shares of Radian Group from $30.00 to $34.00 in a research note on Monday, January 10th. Finally, StockNews.com upgraded shares of Radian Group from a “hold” rating to a “buy” rating in a research note on Wednesday, April 27th. One research analyst has rated the stock with a sell rating, one has issued a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $27.58.

Several institutional investors and hedge funds have recently added to or reduced their stakes in RDN. JustInvest LLC purchased a new position in shares of Radian Group during the 4th quarter valued at $251,000. Public Employees Retirement System of Ohio grew its position in shares of Radian Group by 6.0% during the 4th quarter. Public Employees Retirement System of Ohio now owns 12,108 shares of the insurance provider’s stock valued at $256,000 after purchasing an additional 683 shares in the last quarter. LPL Financial LLC grew its position in shares of Radian Group by 60.0% during the 3rd quarter. LPL Financial LLC now owns 18,841 shares of the insurance provider’s stock valued at $428,000 after purchasing an additional 7,065 shares in the last quarter. Comerica Bank purchased a new position in shares of Radian Group during the 4th quarter valued at $455,000. Finally, Penserra Capital Management LLC lifted its holdings in shares of Radian Group by 25.1% during the 4th quarter. Penserra Capital Management LLC now owns 26,480 shares of the insurance provider’s stock worth $588,000 after acquiring an additional 5,318 shares during the last quarter. Hedge funds and other institutional investors own 95.48% of the company’s stock.

Radian Group declared that its board has approved a share repurchase plan on Wednesday, February 9th that permits the company to buyback $400.00 million in shares. This buyback authorization permits the insurance provider to repurchase up to 9.5% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s board of directors believes its shares are undervalued.

Radian Group Company Profile (Get Rating)

Radian Group Inc, together with its subsidiaries, engages in the mortgage and real estate services business in the United States. Its Mortgage segment offers credit-related insurance coverage primarily through private mortgage insurance on residential first-lien mortgage loans, as well as other credit risk management, contract underwriting, and fulfillment solutions.

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Earnings History for Radian Group (NYSE:RDN)

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