Radian Group Inc. (NYSE:RDN – Get Rating) Director Noel Joseph Spiegel sold 5,980 shares of the firm’s stock in a transaction dated Tuesday, May 17th. The stock was sold at an average price of $21.60, for a total value of $129,168.00. Following the sale, the director now directly owns 20,008 shares in the company, valued at approximately $432,172.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.
RDN stock opened at $22.26 on Wednesday. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.38. The business has a 50 day moving average price of $22.15 and a two-hundred day moving average price of $22.19. The company has a market cap of $3.85 billion, a price-to-earnings ratio of 6.27, a P/E/G ratio of 1.18 and a beta of 1.22. Radian Group Inc. has a twelve month low of $19.17 and a twelve month high of $24.84.
Radian Group (NYSE:RDN – Get Rating) last issued its earnings results on Tuesday, May 3rd. The insurance provider reported $1.17 EPS for the quarter, topping the consensus estimate of $0.91 by $0.26. Radian Group had a return on equity of 17.18% and a net margin of 50.71%. The company had revenue of $292.98 million during the quarter, compared to the consensus estimate of $318.22 million. During the same period in the previous year, the company posted $0.68 EPS. The firm’s revenue for the quarter was down 10.9% compared to the same quarter last year. On average, equities research analysts anticipate that Radian Group Inc. will post 3.6 EPS for the current fiscal year.
Radian Group announced that its board has initiated a stock buyback plan on Wednesday, February 9th that permits the company to repurchase $400.00 million in shares. This repurchase authorization permits the insurance provider to purchase up to 9.5% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board of directors believes its stock is undervalued.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Advisors Asset Management Inc. bought a new stake in Radian Group in the 1st quarter valued at $206,000. Phase 2 Partners LLC acquired a new position in Radian Group in the 1st quarter valued at $5,581,000. Point72 Hong Kong Ltd raised its holdings in shares of Radian Group by 510.3% during the 1st quarter. Point72 Hong Kong Ltd now owns 18,517 shares of the insurance provider’s stock worth $411,000 after buying an additional 15,483 shares in the last quarter. Quantbot Technologies LP acquired a new position in shares of Radian Group during the 1st quarter worth $2,025,000. Finally, Quinn Opportunity Partners LLC acquired a new position in shares of Radian Group during the 1st quarter worth $791,000. Institutional investors and hedge funds own 95.48% of the company’s stock.
A number of equities research analysts have recently commented on RDN shares. BTIG Research dropped their price target on Radian Group from $28.00 to $26.00 in a research report on Tuesday, April 12th. StockNews.com lowered Radian Group from a “buy” rating to a “hold” rating in a research report on Thursday, May 5th. One investment analyst has rated the stock with a sell rating, two have given a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $27.58.
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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