Bank of America Upgrades Radian Group (NYSE:RDN) to Buy

Radian Group (NYSE:RDN - Get Free Report) was upgraded by research analysts at Bank of America from an "underperform" rating to a "buy" rating in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm presently has a $43.00 price objective on the insurance provider's stock, up from their previous price objective of $35.00. Bank of America's price target indicates a potential upside of 19.87% from the stock's previous close.

A number of other equities analysts have also issued reports on RDN. Roth Mkm reiterated a "buy" rating and set a $45.00 target price on shares of Radian Group in a research report on Friday, January 2nd. Keefe, Bruyette & Woods lifted their price objective on Radian Group from $42.00 to $43.00 and gave the stock an "outperform" rating in a research report on Friday, April 10th. UBS Group cut their target price on shares of Radian Group from $41.00 to $39.00 and set a "neutral" rating on the stock in a research report on Thursday, March 12th. Barclays reduced their target price on shares of Radian Group from $40.00 to $37.00 and set an "equal weight" rating on the stock in a research note on Monday, April 6th. Finally, Weiss Ratings cut shares of Radian Group from a "buy (a-)" rating to a "buy (b+)" rating in a research report on Tuesday, January 13th. Four equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company's stock. Based on data from MarketBeat, Radian Group currently has an average rating of "Moderate Buy" and an average price target of $40.67.

Radian Group Price Performance

Shares of Radian Group stock opened at $35.87 on Wednesday. Radian Group has a twelve month low of $29.32 and a twelve month high of $38.84. The company has a debt-to-equity ratio of 0.23, a quick ratio of 3.40 and a current ratio of 3.40. The firm's 50-day simple moving average is $33.97 and its 200-day simple moving average is $34.33. The firm has a market cap of $4.84 billion, a P/E ratio of 8.64, a price-to-earnings-growth ratio of 1.93 and a beta of 0.77.

Radian Group (NYSE:RDN - Get Free Report) last posted its earnings results on Thursday, February 19th. The insurance provider reported $1.16 EPS for the quarter, topping the consensus estimate of $1.11 by $0.05. The business had revenue of $300.51 million during the quarter, compared to the consensus estimate of $300.45 million. Radian Group had a return on equity of 13.07% and a net margin of 46.99%.Radian Group's revenue was up 2.7% on a year-over-year basis. During the same quarter last year, the company earned $1.09 EPS. As a group, research analysts expect that Radian Group will post 4.72 EPS for the current fiscal year.

Insider Transactions at Radian Group

In other news, EVP Edward J. Hoffman sold 15,000 shares of the business's stock in a transaction dated Thursday, April 23rd. The stock was sold at an average price of $36.00, for a total transaction of $540,000.00. Following the completion of the transaction, the executive vice president directly owned 123,708 shares in the company, valued at approximately $4,453,488. The trade was a 10.81% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 30,000 shares of company stock worth $1,065,000 in the last quarter. 2.03% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Radian Group

Hedge funds and other institutional investors have recently made changes to their positions in the company. Northwestern Mutual Wealth Management Co. raised its stake in Radian Group by 178.9% during the 3rd quarter. Northwestern Mutual Wealth Management Co. now owns 742 shares of the insurance provider's stock worth $27,000 after buying an additional 476 shares during the period. V Square Quantitative Management LLC bought a new position in shares of Radian Group during the 4th quarter valued at about $29,000. Bessemer Group Inc. grew its position in shares of Radian Group by 66.7% in the 3rd quarter. Bessemer Group Inc. now owns 795 shares of the insurance provider's stock valued at $29,000 after purchasing an additional 318 shares during the period. Financial Consulate Inc. acquired a new stake in Radian Group during the 3rd quarter worth approximately $29,000. Finally, Geneos Wealth Management Inc. lifted its stake in Radian Group by 191.3% in the first quarter. Geneos Wealth Management Inc. now owns 871 shares of the insurance provider's stock valued at $29,000 after buying an additional 572 shares in the last quarter. 95.33% of the stock is owned by institutional investors.

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.

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