Barclays Forecasts Strong Price Appreciation for Radian Group (NYSE:RDN) Stock

Radian Group (NYSE:RDN - Get Free Report) had its price target raised by equities research analysts at Barclays from $34.00 to $35.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage currently has an "equal weight" rating on the insurance provider's stock. Barclays's price objective points to a potential upside of 3.56% from the company's current price.

RDN has been the subject of a number of other reports. Keefe, Bruyette & Woods cut shares of Radian Group from a "moderate buy" rating to a "hold" rating and set a $38.00 price objective for the company. in a research note on Monday. UBS Group lifted their target price on shares of Radian Group from $34.00 to $36.00 and gave the stock a "neutral" rating in a report on Monday, May 5th. Finally, Compass Point cut shares of Radian Group from a "strong-buy" rating to a "hold" rating in a report on Friday, May 23rd. Five investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, Radian Group currently has a consensus rating of "Hold" and a consensus price target of $37.17.

Radian Group Stock Down 1.3%

Shares of NYSE:RDN traded down $0.44 on Tuesday, reaching $33.80. The company had a trading volume of 977,323 shares, compared to its average volume of 1,284,346. The stock has a market capitalization of $4.54 billion, a P/E ratio of 8.60 and a beta of 0.72. The stock has a 50-day moving average price of $34.50 and a 200 day moving average price of $33.09. Radian Group has a twelve month low of $29.32 and a twelve month high of $37.86. The company has a quick ratio of 3.44, a current ratio of 3.44 and a debt-to-equity ratio of 0.52.

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

Radian Group declared that its board has initiated a stock repurchase program on Wednesday, May 21st that authorizes the company to buyback $750.00 million in outstanding shares. This buyback authorization authorizes the insurance provider to reacquire up to 16.9% of its stock through open market purchases. Stock buyback programs are often an indication that the company's board believes its stock is undervalued.

Insider Activity at Radian Group

In other Radian Group news, Director Noel Joseph Spiegel sold 5,105 shares of the company's stock in a transaction that occurred on Friday, June 6th. The stock was sold at an average price of $33.66, for a total value of $171,834.30. Following the completion of the transaction, the director owned 20,008 shares of the company's stock, valued at $673,469.28. This represents a 20.33% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Howard Bernard Culang sold 8,773 shares of Radian Group stock in a transaction that occurred on Friday, June 6th. The stock was sold at an average price of $33.37, for a total value of $292,755.01. Following the sale, the director directly owned 8,050 shares in the company, valued at $268,628.50. The trade was a 52.15% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 86,378 shares of company stock worth $2,944,414. Insiders own 2.01% of the company's stock.

Institutional Trading of Radian Group

A number of institutional investors and hedge funds have recently modified their holdings of RDN. Picton Mahoney Asset Management boosted its stake in Radian Group by 54.3% during the fourth quarter. Picton Mahoney Asset Management now owns 972 shares of the insurance provider's stock worth $31,000 after buying an additional 342 shares in the last quarter. Covestor Ltd lifted its holdings in shares of Radian Group by 35.6% during the 4th quarter. Covestor Ltd now owns 1,351 shares of the insurance provider's stock worth $43,000 after acquiring an additional 355 shares during the period. Jones Financial Companies Lllp boosted its position in shares of Radian Group by 14.8% during the 1st quarter. Jones Financial Companies Lllp now owns 2,764 shares of the insurance provider's stock valued at $91,000 after acquiring an additional 357 shares in the last quarter. AlphaQuest LLC boosted its position in shares of Radian Group by 3.1% during the 1st quarter. AlphaQuest LLC now owns 15,904 shares of the insurance provider's stock valued at $526,000 after acquiring an additional 476 shares in the last quarter. Finally, Summit Investment Advisors Inc. increased its stake in Radian Group by 3.3% in the fourth quarter. Summit Investment Advisors Inc. now owns 15,854 shares of the insurance provider's stock valued at $503,000 after acquiring an additional 502 shares during the period. 95.33% of the stock is currently owned by institutional investors.

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.