FBR & Co Reiterates “Outperform” Rating for Radian Group Inc. (RDN)
Radian Group Inc. (NYSE:RDN)‘s stock had its “outperform” rating restated by FBR & Co in a research note issued on Tuesday. They presently have a $19.00 price objective on the stock, up from their prior price objective of $16.00. FBR & Co’s price target would indicate a potential upside of 30.49% from the stock’s current price.
A number of other equities research analysts also recently commented on the company. Zacks Investment Research raised Radian Group from a “hold” rating to a “buy” rating and set a $16.00 price objective for the company in a research report on Friday, November 25th. Compass Point downgraded Radian Group from a “buy” rating to a “neutral” rating and set a $17.00 price objective for the company. in a research report on Friday, October 28th. Bank of America Corp. started coverage on Radian Group in a research report on Monday, October 17th. They issued a “buy” rating and a $18.00 price objective for the company. BTIG Research set a $22.00 price objective on Radian Group and gave the company a “buy” rating in a research report on Thursday, September 15th. Finally, TheStreet raised Radian Group from a “hold” rating to a “buy” rating in a research report on Thursday, August 11th. Three investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $17.29.
Shares of Radian Group (NYSE:RDN) opened at 14.56 on Tuesday. The stock has a market cap of $3.12 billion, a P/E ratio of 10.31 and a beta of 2.30. The firm’s 50-day moving average price is $14.09 and its 200 day moving average price is $12.84. Radian Group has a one year low of $9.29 and a one year high of $14.90.
Radian Group (NYSE:RDN) last released its quarterly earnings results on Thursday, October 27th. The company reported $0.41 earnings per share for the quarter, topping the consensus estimate of $0.40 by $0.01. The company earned $320.88 million during the quarter, compared to the consensus estimate of $229.12 million. Radian Group had a return on equity of 12.73% and a net margin of 25.97%. Radian Group’s revenue was up 7.9% compared to the same quarter last year. During the same quarter last year, the business posted $0.31 earnings per share. Equities research analysts expect that Radian Group will post $1.55 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 5th. Shareholders of record on Monday, November 21st will be paid a dividend of $0.0025 per share. This represents a $0.01 dividend on an annualized basis and a dividend yield of 0.07%. The ex-dividend date of this dividend is Thursday, November 17th. Radian Group’s dividend payout ratio is presently 0.70%.
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Hedge funds and other institutional investors have recently modified their holdings of the company. Mackenzie Financial Corp boosted its position in shares of Radian Group by 0.3% in the second quarter. Mackenzie Financial Corp now owns 83,251 shares of the company’s stock worth $867,000 after buying an additional 263 shares in the last quarter. Genesee Valley Trust Co. boosted its position in shares of Radian Group by 2.3% in the second quarter. Genesee Valley Trust Co. now owns 12,216 shares of the company’s stock worth $127,000 after buying an additional 274 shares in the last quarter. Principal Financial Group Inc. boosted its position in shares of Radian Group by 1.7% in the third quarter. Principal Financial Group Inc. now owns 29,282 shares of the company’s stock worth $397,000 after buying an additional 501 shares in the last quarter. KCG Holdings Inc. boosted its position in shares of Radian Group by 3.0% in the second quarter. KCG Holdings Inc. now owns 17,514 shares of the company’s stock worth $182,000 after buying an additional 517 shares in the last quarter. Finally, UBS Asset Management Americas Inc. boosted its position in shares of Radian Group by 1.2% in the second quarter. UBS Asset Management Americas Inc. now owns 153,089 shares of the company’s stock worth $1,595,000 after buying an additional 1,846 shares in the last quarter. Institutional investors own 93.31% of the company’s stock.
Radian Group Company Profile
Radian Group Inc is a holding company that provides mortgage insurance, and products and services to the real estate and mortgage finance industries. The Company operates in two segments: Mortgage Insurance and Services. The Mortgage Insurance segment provides credit-related insurance coverage, principally through private mortgage insurance to mortgage lending institutions.
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