Radian Group Inc. (NYSE:RDN – Get Rating) announced a quarterly dividend on Wednesday, May 11th, RTT News reports. Shareholders of record on Monday, May 23rd will be given a dividend of 0.20 per share by the insurance provider on Friday, June 3rd. This represents a $0.80 annualized dividend and a yield of 3.78%.
Radian Group has increased its dividend by an average of 279.1% per year over the last three years and has raised its dividend annually for the last 3 consecutive years. Radian Group has a dividend payout ratio of 24.0% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Radian Group to earn $3.13 per share next year, which means the company should continue to be able to cover its $0.80 annual dividend with an expected future payout ratio of 25.6%.
RDN opened at $21.18 on Thursday. Radian Group has a 52 week low of $19.17 and a 52 week high of $24.84. The business has a fifty day simple moving average of $22.30 and a 200-day simple moving average of $22.24. The firm has a market cap of $3.71 billion, a P/E ratio of 5.97, a P/E/G ratio of 1.24 and a beta of 1.22. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.37.
A number of institutional investors have recently bought and sold shares of the business. Bank of New York Mellon Corp raised its stake in Radian Group by 0.4% in the first quarter. Bank of New York Mellon Corp now owns 1,488,800 shares of the insurance provider’s stock valued at $33,067,000 after buying an additional 6,479 shares in the last quarter. Raymond James Financial Services Advisors Inc. raised its stake in Radian Group by 2.8% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 56,712 shares of the insurance provider’s stock valued at $1,260,000 after buying an additional 1,548 shares in the last quarter. Raymond James & Associates raised its stake in Radian Group by 14.8% in the first quarter. Raymond James & Associates now owns 18,972 shares of the insurance provider’s stock valued at $421,000 after buying an additional 2,445 shares in the last quarter. JustInvest LLC acquired a new stake in Radian Group in the fourth quarter valued at $251,000. Finally, Wells Fargo & Company MN raised its stake in Radian Group by 49.3% in the fourth quarter. Wells Fargo & Company MN now owns 183,795 shares of the insurance provider’s stock valued at $3,885,000 after buying an additional 60,685 shares in the last quarter. Institutional investors own 95.48% of the company’s stock.
RDN has been the subject of a number of recent research reports. BTIG Research decreased their target price on Radian Group from $28.00 to $26.00 in a report on Tuesday, April 12th. StockNews.com lowered Radian Group from a “buy” rating to a “hold” rating in a report on Thursday, May 5th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Radian Group has an average rating of “Buy” and a consensus target price of $27.58.
Radian Group declared that its board has approved a stock repurchase program on Wednesday, February 9th that permits the company to buyback $400.00 million in shares. This buyback authorization permits the insurance provider to purchase up to 9.5% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s leadership believes its stock is undervalued.
About Radian Group (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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