Radian Group (NYSE:RDN) Upgraded to Strong-Buy at Zacks Research

Key Points

• Radian Group has been upgraded from a "hold" rating to a "strong-buy" rating by Zacks Research, indicating increased confidence in the company's stock.
• Barclays increased its price target for Radian Group shares from $34.00 to $35.00, while UBS Group raised its target from $36.00 to $38.00.
• In the last quarter, Radian Group reported $1.01 earnings per share, surpassing analysts' expectations of $0.93, despite a year-over-year revenue decline of 0.9%.

Radian Group (NYSE:RDN - Get Free Report) was upgraded by analysts at Zacks Research from a "hold" rating to a "strong-buy" rating in a research note issued on Monday,Zacks.com reports.

Other research analysts have also issued reports about the stock. Barclays boosted their price objective on shares of Radian Group from $34.00 to $35.00 and gave the stock an "equal weight" rating in a research note on Tuesday, July 8th. UBS Group reissued a "neutral" rating and set a $38.00 price target (up previously from $36.00) on shares of Radian Group in a research report on Monday, July 14th. Finally, Keefe, Bruyette & Woods lowered Radian Group from a "moderate buy" rating to a "hold" rating and set a $38.00 price objective on the stock. in a research note on Monday, July 7th. One analyst has rated the stock with a Strong Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, Radian Group has an average rating of "Hold" and an average price target of $37.00.

Radian Group Stock Down 0.9%

NYSE:RDN opened at $36.16 on Monday. Radian Group has a twelve month low of $29.32 and a twelve month high of $38.84. The firm has a market capitalization of $4.90 billion, a price-to-earnings ratio of 9.11 and a beta of 0.75. The company has a quick ratio of 1.68, a current ratio of 1.68 and a debt-to-equity ratio of 0.54. The stock's 50 day moving average price is $34.57 and its two-hundred day moving average price is $33.79.

Radian Group (NYSE:RDN - Get Free Report) last released its earnings results on Wednesday, July 30th. The insurance provider reported $1.01 earnings per share for the quarter, beating the consensus estimate of $0.93 by $0.08. The business had revenue of $318.00 million during the quarter, compared to analysts' expectations of $321.97 million. Radian Group had a net margin of 45.62% and a return on equity of 13.25%. The firm's revenue was down .9% on a year-over-year basis. During the same period last year, the business earned $0.98 earnings per share. Equities research analysts expect that Radian Group will post 3.79 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, EVP Edward J. Hoffman sold 10,000 shares of Radian Group stock in a transaction on Thursday, September 18th. The stock was sold at an average price of $37.00, for a total transaction of $370,000.00. Following the completion of the sale, the executive vice president owned 153,708 shares of the company's stock, valued at approximately $5,687,196. This trade represents a 6.11% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 2.16% of the stock is owned by insiders.

Hedge Funds Weigh In On Radian Group

A number of hedge funds have recently bought and sold shares of RDN. Geneos Wealth Management Inc. boosted its holdings in Radian Group by 191.3% in the 1st quarter. Geneos Wealth Management Inc. now owns 871 shares of the insurance provider's stock valued at $29,000 after purchasing an additional 572 shares during the period. Headlands Technologies LLC acquired a new stake in shares of Radian Group in the second quarter valued at approximately $50,000. Covestor Ltd boosted its stake in shares of Radian Group by 42.6% in the first quarter. Covestor Ltd now owns 1,927 shares of the insurance provider's stock valued at $64,000 after buying an additional 576 shares during the period. EverSource Wealth Advisors LLC grew its position in Radian Group by 94.0% during the second quarter. EverSource Wealth Advisors LLC now owns 1,860 shares of the insurance provider's stock worth $67,000 after buying an additional 901 shares in the last quarter. Finally, Allworth Financial LP increased its stake in Radian Group by 1,049.7% during the 2nd quarter. Allworth Financial LP now owns 1,897 shares of the insurance provider's stock worth $68,000 after acquiring an additional 1,732 shares during the period. 95.33% of the stock is owned by institutional investors.

About Radian Group

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.

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