Radian Group (NYSE:RDN) Cut to Hold at Zacks Research

Zacks Research lowered shares of Radian Group (NYSE:RDN) from a strong-buy rating to a hold rating in a research report report published on Monday,Zacks.com reports.

Several other brokerages also recently commented on RDN. Roth Mkm reiterated a “buy” rating and issued a $45.00 target price on shares of Radian Group in a report on Friday, January 2nd. Weiss Ratings downgraded shares of Radian Group from a “buy (a-)” rating to a “buy (b+)” rating in a report on Tuesday, January 13th. Keefe, Bruyette & Woods increased their target price on shares of Radian Group from $42.00 to $43.00 and gave the company an “outperform” rating in a report on Friday, April 10th. UBS Group lowered their target price on shares of Radian Group from $41.00 to $39.00 and set a “neutral” rating for the company in a report on Thursday, March 12th. Finally, Barclays lowered their target price on shares of Radian Group from $40.00 to $37.00 and set an “equal weight” rating for the company in a report on Monday, April 6th. Three equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $40.20.

Radian Group Stock Performance

Shares of RDN stock opened at $35.63 on Monday. The firm has a 50-day moving average of $33.77 and a 200-day moving average of $34.29. The company has a market cap of $4.80 billion, a P/E ratio of 8.59, a P/E/G ratio of 1.91 and a beta of 0.77. The company has a debt-to-equity ratio of 0.23, a current ratio of 3.40 and a quick ratio of 3.40. Radian Group has a one year low of $29.32 and a one year high of $38.84.

Radian Group (NYSE:RDN) last announced its earnings results on Thursday, February 19th. The insurance provider reported $1.16 EPS for the quarter, beating the consensus estimate of $1.11 by $0.05. The company had revenue of $300.51 million during the quarter, compared to the consensus estimate of $300.45 million. Radian Group had a net margin of 46.99% and a return on equity of 13.07%. The firm’s revenue for the quarter was up 2.7% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.09 earnings per share. Equities research analysts forecast that Radian Group will post 4.72 EPS for the current fiscal year.

Radian Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 10th. Investors of record on Monday, February 23rd were given a dividend of $0.255 per share. The ex-dividend date was Monday, February 23rd. This represents a $1.02 annualized dividend and a yield of 2.9%. Radian Group’s dividend payout ratio is presently 24.58%.

Insiders Place Their Bets

In related news, EVP Edward J. Hoffman sold 13,009 shares of the stock in a transaction dated Friday, April 17th. The shares were sold at an average price of $35.00, for a total transaction of $455,315.00. Following the completion of the transaction, the executive vice president owned 138,708 shares in the company, valued at approximately $4,854,780. This represents a 8.57% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 2.03% of the company’s stock.

Hedge Funds Weigh In On Radian Group

Several institutional investors have recently added to or reduced their stakes in the stock. Pictet Asset Management Holding SA grew its position in Radian Group by 6.5% during the first quarter. Pictet Asset Management Holding SA now owns 20,755 shares of the insurance provider’s stock valued at $687,000 after buying an additional 1,262 shares during the period. Louisiana State Employees Retirement System bought a new position in Radian Group during the first quarter worth about $1,988,000. Corient Private Wealth LLC boosted its position in Radian Group by 3.1% during the fourth quarter. Corient Private Wealth LLC now owns 21,249 shares of the insurance provider’s stock worth $765,000 after purchasing an additional 647 shares during the period. Hsbc Holdings PLC boosted its position in Radian Group by 23.1% during the fourth quarter. Hsbc Holdings PLC now owns 90,154 shares of the insurance provider’s stock worth $3,256,000 after purchasing an additional 16,895 shares during the period. Finally, State of Tennessee Department of Treasury boosted its position in Radian Group by 37.1% during the fourth quarter. State of Tennessee Department of Treasury now owns 57,009 shares of the insurance provider’s stock worth $1,876,000 after purchasing an additional 15,438 shares during the period. Institutional investors own 95.33% of the company’s stock.

About Radian Group

Radian Group Inc (NYSE:RDN) is a leading provider of private mortgage insurance and related risk management solutions in the United States. Through its primary subsidiary, Radian Guaranty Inc, the company underwrites borrower-paid and lender-paid mortgage insurance that protects lenders and investors from potential losses arising from borrower defaults. Radian’s core business focuses on supporting residential mortgage originations and servicing by offering capital-efficient credit protection and credit risk transfer strategies.

Beyond mortgage insurance, Radian offers an array of real estate transaction services under its Radian Title division.