Radian Group (NYSE:RDN) Stock Rating Upgraded by Zacks Research

Key Points

• Zacks Research upgraded Radian Group from “strong sell” to “hold,” while the broader analyst consensus remains “Moderate Buy” with a $43.14 price target.
• RDN shares opened at $33.37, below the consensus target, with a market capitalization of approximately $4.42 billion and a 52-week range of $30.53 to $41.05.
• Radian reported $1.14 in quarterly EPS, missing estimates of $1.34, although revenue rose 92.3% year over year to $574.96 million; institutional investors own 95.33% of the stock.

Radian Group (NYSE:RDN - Get Free Report) was upgraded by equities researchers at Zacks Research from a "strong sell" rating to a "hold" rating in a report issued on Tuesday, Zacks reports.

Other equities research analysts have also issued reports about the stock. Weiss Ratings lowered shares of Radian Group from a "buy (b+)" rating to a "buy (b)" rating in a research note on Tuesday. BTIG Research assumed coverage on Radian Group in a report on Tuesday, September 22nd. They set a "buy" rating and a $48.00 price target on the stock. Wall Street Zen cut Radian Group from a "buy" rating to a "hold" rating in a report on Saturday, October 10th. Keefe, Bruyette & Woods dropped their price target on Radian Group from $46.00 to $44.00 and set an "outperform" rating on the stock in a research note on Tuesday, August 11th. Finally, Barclays lifted their price objective on Radian Group from $35.00 to $36.00 and gave the stock an "equal weight" rating in a report on Monday, October 5th. Six analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, Radian Group presently has a consensus rating of "Moderate Buy" and a consensus price target of $43.14.

Radian Group Stock Performance

Shares of RDN stock opened at $33.37 on Tuesday. The company has a quick ratio of 0.60, a current ratio of 0.60 and a debt-to-equity ratio of 0.14. The company has a 50 day moving average price of $35.26 and a 200-day moving average price of $35.89. Radian Group has a 52 week low of $30.53 and a 52 week high of $41.05. The firm has a market capitalization of $4.42 billion, a PE ratio of 8.58, a P/E/G ratio of 0.82 and a beta of 0.71.

Radian Group (NYSE:RDN - Get Free Report) last issued its quarterly earnings data on Thursday, August 6th. The insurance provider reported $1.14 earnings per share for the quarter, missing analysts' consensus estimates of $1.34 by ($0.20). Radian Group had a net margin of 32.60% and a return on equity of 13.65%. The company had revenue of $574.96 million for the quarter, compared to the consensus estimate of $556.55 million. During the same quarter last year, the company earned $1.01 EPS. The firm's revenue for the quarter was up 92.3% on a year-over-year basis. As a group, equities research analysts expect that Radian Group will post 4.88 earnings per share for the current year.

Insider Activity

In related news, EVP Meghan Bartholomew sold 7,812 shares of the stock in a transaction that occurred on Monday, September 14th. The shares were sold at an average price of $35.94, for a total value of $280,763.28. Following the completion of the sale, the executive vice president directly owned 39,203 shares of the company's stock, valued at approximately $1,408,955.82. This represents a 16.62% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 2.03% of the company's stock.

Institutional Trading of Radian Group

Several institutional investors have recently made changes to their positions in RDN. IFP Advisors Inc boosted its position in shares of Radian Group by 109.3% during the 2nd quarter. IFP Advisors Inc now owns 672 shares of the insurance provider's stock valued at $25,000 after acquiring an additional 351 shares during the last quarter. Arizona State Retirement System grew its holdings in shares of Radian Group by 1.0% in the second quarter. Arizona State Retirement System now owns 37,602 shares of the insurance provider's stock valued at $1,416,000 after purchasing an additional 387 shares in the last quarter. GAMMA Investing LLC increased its position in Radian Group by 4.1% in the third quarter. GAMMA Investing LLC now owns 11,613 shares of the insurance provider's stock worth $355,000 after purchasing an additional 462 shares during the last quarter. Root Financial Partners LLC increased its position in Radian Group by 67.3% in the first quarter. Root Financial Partners LLC now owns 1,288 shares of the insurance provider's stock worth $43,000 after purchasing an additional 518 shares during the last quarter. Finally, Corient Private Wealth LLC increased its position in Radian Group by 3.1% in 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 last quarter. Hedge funds and other institutional investors own 95.33% of the company's stock.

Radian Group Company Profile

Radian Group Inc NYSE: RDN is a financial services company focused on supporting homeownership and the U.S. residential real estate market. Its principal business is mortgage insurance, which helps protect lenders and investors against losses when borrowers default on certain residential mortgage loans. Through its mortgage insurance operations, Radian serves mortgage lenders, banks, credit unions and other housing-finance participants.

The company also provides services and technology intended to support the mortgage and homeownership lifecycle.

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