Radian Group (NYSE:RDN) Cut to Buy (B) at Weiss Ratings

Weiss Ratings downgraded shares of Radian Group (NYSE:RDN) from a buy (a-) rating to a buy (b) rating in a research report released on Saturday morning,Weiss Ratings reports.

RDN has been the topic of several other reports. Barclays upped their price target on shares of Radian Group from $35.00 to $37.00 and gave the company a “cautious” rating in a research note on Monday, October 6th. Zacks Research raised shares of Radian Group from a “hold” rating to a “strong-buy” rating in a report on Monday, September 22nd. Keefe, Bruyette & Woods cut shares of Radian Group from a “moderate buy” rating to a “hold” rating and set a $38.00 target price on the stock. in a report on Monday, July 7th. Finally, UBS Group dropped their price target on shares of Radian Group from $43.00 to $40.00 and set a “neutral” rating for the company in a research report on Wednesday, October 15th. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Radian Group currently has a consensus rating of “Hold” and a consensus target price of $38.00.

Radian Group Price Performance

Shares of NYSE RDN opened at $33.59 on Friday. The firm has a market cap of $4.55 billion, a P/E ratio of 8.46 and a beta of 0.73. The business’s 50 day moving average is $34.90 and its 200-day moving average is $34.22. The company has a current ratio of 1.68, a quick ratio of 1.68 and a debt-to-equity ratio of 0.54. Radian Group has a 1-year low of $29.32 and a 1-year high of $38.84.

Radian Group (NYSE:RDN) last released its quarterly earnings results on Wednesday, July 30th. The insurance provider reported $1.01 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.93 by $0.08. Radian Group had a return on equity of 13.25% and a net margin of 45.62%.The business had revenue of $318.00 million during the quarter, compared to the consensus estimate of $321.97 million. During the same period in the previous year, the company posted $0.98 EPS. The firm’s quarterly revenue was down .9% on a year-over-year basis. Equities research analysts predict that Radian Group will post 3.79 earnings per share for the current year.

Radian Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 9th. Stockholders of record on Monday, August 25th were given a $0.255 dividend. The ex-dividend date was Monday, August 25th. This represents a $1.02 annualized dividend and a dividend yield of 3.0%. Radian Group’s payout ratio is presently 25.69%.

Insider Activity

In related news, EVP Edward J. Hoffman sold 10,000 shares of the stock in a transaction that occurred on Thursday, September 18th. The shares were sold at an average price of $37.00, for a total transaction of $370,000.00. Following the sale, the executive vice president owned 153,708 shares in the company, valued at approximately $5,687,196. This trade represents a 6.11% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 2.16% of the company’s stock.

Institutional Investors Weigh In On Radian Group

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Financial Consulate Inc. acquired a new stake in shares of Radian Group in the 3rd quarter valued at $29,000. Geneos Wealth Management Inc. raised its holdings in shares of Radian Group by 191.3% during the 1st quarter. Geneos Wealth Management Inc. now owns 871 shares of the insurance provider’s stock worth $29,000 after buying an additional 572 shares in the last quarter. Salomon & Ludwin LLC bought a new stake in shares of Radian Group during the 3rd quarter worth $33,000. Headlands Technologies LLC acquired a new stake in Radian Group in the second quarter valued at about $50,000. Finally, Covestor Ltd grew its position in Radian Group by 42.6% in the first quarter. Covestor Ltd now owns 1,927 shares of the insurance provider’s stock valued at $64,000 after acquiring an additional 576 shares during the last quarter. 95.33% of the stock is currently owned by institutional investors.

About Radian Group

Radian Group Inc, together with its subsidiaries, engages in the mortgage and real estate services business in the United States. It operates through two segments, Mortgage Insurance and Homegenius segments. The Mortgage Insurance segment aggregates, manages, and distributes U.S. mortgage credit risk for mortgage lending institutions and mortgage credit investors, through private mortgage insurance on residential first-lien mortgage loans; and other credit risk management solutions, including contract underwriting.