Radian Group (NYSE:RDN) Price Target Raised to $35.00 at Barclays

Radian Group (NYSE:RDN - Get Free Report) had its target price upped by investment analysts at Barclays from $34.00 to $35.00 in a report released on Tuesday,Benzinga reports. The firm currently has an "equal weight" rating on the insurance provider's stock.

Other research analysts have also issued reports about the company. Keefe, Bruyette & Woods lowered Radian Group from a "moderate buy" rating to a "hold" rating and set a $38.00 target price on the stock. in a report on Monday. UBS Group lifted their price target on Radian Group from $34.00 to $36.00 and gave the stock a "neutral" rating in a research note on Monday, May 5th. Finally, Compass Point cut Radian Group from a "strong-buy" rating to a "hold" rating in a research note on Friday, May 23rd. Five analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, Radian Group has an average rating of "Hold" and an average target price of $37.17.

Radian Group Price Performance

NYSE:RDN traded down $0.64 during mid-day trading on Tuesday, reaching $35.00. 840,317 shares of the stock were exchanged, compared to its average volume of 1,283,246. The business has a fifty day moving average price of $34.47 and a 200 day moving average price of $33.06. The firm has a market capitalization of $4.70 billion, a PE ratio of 8.91 and a beta of 0.72. Radian Group has a 1-year low of $29.32 and a 1-year high of $37.86. The company has a current ratio of 3.44, a quick ratio of 3.44 and a debt-to-equity ratio of 0.52.

Radian Group (NYSE:RDN - Get Free Report) last released its earnings results on Wednesday, April 30th. The insurance provider reported $0.99 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.95 by $0.04. The firm had revenue of $318.11 million for the quarter, compared to analyst estimates of $326.99 million. Radian Group had a return on equity of 13.54% and a net margin of 46.29%. Radian Group's revenue was down .4% compared to the same quarter last year. During the same period in the previous year, the company earned $1.03 earnings per share. Research analysts expect that Radian Group will post 3.79 earnings per share for the current fiscal year.

Radian Group declared that its Board of Directors has authorized a share buyback program on Wednesday, May 21st that authorizes the company to repurchase $750.00 million in outstanding shares. This repurchase authorization authorizes the insurance provider to buy up to 16.9% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company's management believes its stock is undervalued.

Insider Transactions at Radian Group

In other Radian Group news, Director Howard Bernard Culang sold 8,773 shares of the firm's stock in a transaction dated Friday, June 6th. The stock was sold at an average price of $33.37, for a total transaction of $292,755.01. Following the completion of the sale, the director directly owned 8,050 shares in the company, valued at approximately $268,628.50. This trade represents a 52.15% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Lisa Mumford sold 2,500 shares of the firm's stock in a transaction dated Friday, June 6th. The stock was sold at an average price of $33.45, for a total value of $83,625.00. Following the sale, the director owned 22,329 shares of the company's stock, valued at $746,905.05. The trade was a 10.07% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 86,378 shares of company stock worth $2,944,414 in the last three months. Insiders own 2.01% of the company's stock.

Institutional Investors Weigh In On Radian Group

Several institutional investors have recently made changes to their positions in RDN. Norges Bank acquired a new stake in shares of Radian Group during the 4th quarter valued at about $73,693,000. First Trust Advisors LP lifted its holdings in shares of Radian Group by 20.6% during the 4th quarter. First Trust Advisors LP now owns 10,766,237 shares of the insurance provider's stock valued at $341,505,000 after buying an additional 1,836,020 shares during the last quarter. Jane Street Group LLC lifted its holdings in shares of Radian Group by 11,446.4% during the 1st quarter. Jane Street Group LLC now owns 1,310,517 shares of the insurance provider's stock valued at $43,339,000 after buying an additional 1,299,167 shares during the last quarter. Nuveen LLC acquired a new stake in shares of Radian Group during the 1st quarter valued at about $40,749,000. Finally, Millennium Management LLC acquired a new stake in shares of Radian Group during the 1st quarter valued at about $27,282,000. 95.33% of the stock is currently owned by institutional investors and hedge funds.

Radian Group Company Profile

Radian Group Inc, together with its subsidiaries, engages in the mortgage and real estate services business in the United States. It operates through two segments, Mortgage Insurance and Homegenius segments. The Mortgage Insurance segment aggregates, manages, and distributes U.S. mortgage credit risk for mortgage lending institutions and mortgage credit investors, through private mortgage insurance on residential first-lien mortgage loans; and other credit risk management solutions, including contract underwriting.