Radian Group (NYSE:RDN) Posts Earnings Results

Radian Group (NYSE:RDN) posted its quarterly earnings results on Wednesday. The insurance provider reported $1.03 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.88 by $0.15, reports. The business had revenue of $319.05 million during the quarter, compared to analysts’ expectations of $320.30 million. Radian Group had a net margin of 47.05% and a return on equity of 14.43%.

Radian Group Stock Performance

RDN stock traded down $0.38 during midday trading on Friday, hitting $33.48. 1,922,387 shares of the stock traded hands, compared to its average volume of 1,050,238. The firm has a market cap of $5.04 billion, a P/E ratio of 8.70, a PEG ratio of 1.71 and a beta of 1.04. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.84 and a quick ratio of 1.84. The stock’s fifty day simple moving average is $34.60 and its 200-day simple moving average is $33.27. Radian Group has a 1-year low of $24.92 and a 1-year high of $37.86.

Radian Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 11th. Investors of record on Monday, August 26th were issued a dividend of $0.245 per share. The ex-dividend date was Monday, August 26th. This represents a $0.98 annualized dividend and a dividend yield of 2.93%. Radian Group’s dividend payout ratio (DPR) is presently 25.45%.

Analyst Ratings Changes

A number of research analysts have issued reports on RDN shares. Keefe, Bruyette & Woods raised their price target on shares of Radian Group from $36.00 to $39.00 and gave the stock an “outperform” rating in a report on Monday, August 5th. Roth Mkm raised their target price on shares of Radian Group from $35.00 to $40.00 and gave the stock a “buy” rating in a report on Friday, August 2nd. Royal Bank of Canada raised their target price on shares of Radian Group from $32.00 to $37.00 and gave the stock a “sector perform” rating in a report on Friday, August 2nd. Finally, Barclays raised their target price on shares of Radian Group from $32.00 to $33.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 8th. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $36.10.

Insider Activity at Radian Group

In related news, CAO Robert Quigley sold 7,500 shares of the firm’s stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $35.65, for a total transaction of $267,375.00. Following the sale, the chief accounting officer now owns 48,392 shares in the company, valued at approximately $1,725,174.80. This trade represents a 0.00 % 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. In related news, CAO Robert Quigley sold 7,500 shares of the firm’s stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $35.65, for a total transaction of $267,375.00. Following the sale, the chief accounting officer now owns 48,392 shares in the company, valued at approximately $1,725,174.80. This trade represents a 0.00 % 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. Also, insider Derek Brummer sold 35,153 shares of the firm’s stock in a transaction on Thursday, September 5th. The shares were sold at an average price of $35.36, for a total transaction of $1,243,010.08. Following the sale, the insider now owns 186,535 shares in the company, valued at approximately $6,595,877.60. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 115,955 shares of company stock worth $4,130,140. 2.16% of the stock is owned by company insiders.

Institutional Trading of Radian Group

Several institutional investors have recently modified their holdings of the stock. Arizona State Retirement System grew its position in shares of Radian Group by 0.8% in the second quarter. Arizona State Retirement System now owns 42,413 shares of the insurance provider’s stock valued at $1,319,000 after purchasing an additional 321 shares during the period. Xponance Inc. grew its position in shares of Radian Group by 2.5% in the second quarter. Xponance Inc. now owns 13,121 shares of the insurance provider’s stock valued at $408,000 after purchasing an additional 321 shares during the period. QRG Capital Management Inc. grew its position in shares of Radian Group by 1.1% in the third quarter. QRG Capital Management Inc. now owns 31,392 shares of the insurance provider’s stock valued at $1,089,000 after purchasing an additional 339 shares during the period. Tidal Investments LLC grew its position in shares of Radian Group by 5.2% in the first quarter. Tidal Investments LLC now owns 9,516 shares of the insurance provider’s stock valued at $319,000 after purchasing an additional 474 shares during the period. Finally, Harbor Capital Advisors Inc. grew its position in shares of Radian Group by 1.3% in the third quarter. Harbor Capital Advisors Inc. now owns 45,701 shares of the insurance provider’s stock valued at $1,585,000 after purchasing an additional 589 shares during the period. Institutional investors and hedge funds own 95.33% of the company’s stock.

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.