Radian Group Inc. (RDN) Upgraded at Zacks Investment Research
Zacks Investment Research upgraded shares of Radian Group Inc. (NYSE:RDN) from a hold rating to a buy rating in a research report sent to investors on Friday morning. They currently have $16.00 price objective on the stock.
According to Zacks, “Radian Group is poised for long-term growth on expansive mortgage and real estate service offerings, declining delinquency, lower levels of paid claims and improving risk-based capital ratio. The company is on track to return to investment grade ratings with recent upgrade for Radian group and Radian Guaranty from S&P. Its initiatives to solidify the financial position and improved debt maturity profile bode well. However, stricter regulations, rising mortgage rates and a competitive market pose risks for the company. With respect to quarterly results, Radian Group’s third-quarter 2016 earnings outperformed the Zacks Consensus Estimate and also improved year over year. Notably, the company witnessed the highest volume of new flow mortgage insurance business written in the third quarter of 2016.”
Other equities research analysts have also issued reports about the stock. TheStreet raised shares of Radian Group from a hold rating to a buy rating in a report on Thursday, August 11th. Compass Point lowered shares of Radian Group from a buy rating to a neutral rating and set a $17.00 price objective for the company. in a report on Friday, October 28th. BTIG Research set a $22.00 price objective on shares of Radian Group and gave the stock a buy rating in a report on Thursday, July 28th. FBR & Co raised their price objective on shares of Radian Group from $14.00 to $16.00 and gave the stock an outperform rating in a report on Friday, July 29th. Finally, Bank of America Corp. began coverage on shares of Radian Group in a report on Monday, October 17th. They set a buy rating and a $18.00 price objective for the company. Three analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. The stock currently has an average rating of Buy and an average price target of $17.29.
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, beating the Zacks’ consensus estimate of $0.40 by $0.01. The business earned $320.88 million during the quarter, compared to analyst estimates of $229.12 million. Radian Group had a net margin of 25.97% and a return on equity of 12.73%. The business’s revenue was up 7.9% on a year-over-year basis. During the same period last year, the business earned $0.31 EPS.
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The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 5th. Investors of record on Monday, November 21st will be given a $0.0025 dividend. The ex-dividend date of this dividend is Thursday, November 17th. This represents a $0.01 annualized dividend and a yield of 0.07%. Radian Group’s dividend payout ratio is presently 0.70%.
Hedge funds have recently modified their holdings of the stock. Sullivan Bruyette Speros & Blaney Inc. purchased a new stake in shares of Radian Group during the second quarter valued at $104,000. Landscape Capital Management L.L.C. purchased a new stake in shares of Radian Group during the second quarter valued at $106,000. Profund Advisors LLC purchased a new stake in shares of Radian Group during the third quarter valued at $145,000. Fox Run Management L.L.C. purchased a new stake in shares of Radian Group during the second quarter valued at $126,000. Finally, Genesee Valley Trust Co. increased its stake 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 valued at $127,000 after buying an additional 274 shares in the last quarter. Hedge funds and other 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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