Zacks Investment Research upgraded shares of Radian Group Inc. (NYSE:RDN) from a hold rating to a buy rating in a report released on Tuesday morning. Zacks Investment Research currently has $19.00 target price on the stock.
According to Zacks, “Shares of Radian Group has gained 29.8% over the last three months, outperforming the Zacks categorized Multi Line insurance industry's growth of 15.2%. The insurer is poised for long-term growth on expansive mortgage and real estate service offerings, declining delinquency, lower levels of paid claims and improving risk-based capital ratio. The company is on track to return to investment grade ratings with recent upgrade for Radian group and Radian Guaranty from S&P. Its initiatives to solidify the financial position and improved debt maturity profile bode well. However, stricter regulations, rising mortgage rates and a competitive market pose risks for the company. Notably, the company witnessed the highest volume of new flow mortgage insurance business written in the third quarter of 2016.”
Other analysts also recently issued research reports about the stock. Barclays PLC reissued a buy rating and set a $25.00 target price on shares of Radian Group in a research report on Monday. Compass Point downgraded shares of Radian Group from a buy rating to a neutral rating and set a $17.00 target price on the stock. in a research report on Friday, October 28th. Bank of America Corporation assumed coverage on shares of Radian Group in a research report on Monday, October 17th. They set a buy rating and a $18.00 target price on the stock. FBR & Co reissued an outperform rating and set a $19.00 target price (up previously from $16.00) on shares of Radian Group in a research report on Tuesday, November 29th. Finally, BTIG Research set a $22.00 target price on shares of Radian Group and gave the stock a buy rating in a research report on Thursday, September 15th. Three equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. The stock presently has an average rating of Buy and an average price target of $18.29.
Shares of Radian Group (NYSE:RDN) traded up 0.85% during mid-day trading on Tuesday, hitting $17.88. 2,090,255 shares of the stock traded hands. The stock has a market cap of $3.83 billion, a price-to-earnings ratio of 12.66 and a beta of 2.29. The firm has a 50 day moving average of $16.77 and a 200 day moving average of $14.01. Radian Group has a 12 month low of $9.29 and a 12 month high of $18.75.
Radian Group (NYSE:RDN) last released its earnings results on Thursday, October 27th. The company reported $0.41 earnings per share for the quarter, topping the consensus estimate of $0.40 by $0.01. The company had revenue of $320.88 million for the quarter, compared to the consensus estimate of $229.12 million. Radian Group had a net margin of 25.97% and a return on equity of 12.73%. Radian Group’s revenue was up 7.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.31 EPS. On average, equities analysts expect that Radian Group will post $1.55 EPS for the current fiscal year.
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A number of institutional investors have recently bought and sold shares of RDN. Old Mutual Global Investors UK Ltd. bought a new position in Radian Group during the second quarter worth $648,000. Court Place Advisors LLC boosted its position in Radian Group by 11.3% in the second quarter. Court Place Advisors LLC now owns 28,000 shares of the company’s stock worth $292,000 after buying an additional 2,850 shares in the last quarter. Genesee Valley Trust Co. boosted its position in Radian Group by 2.3% in the second quarter. Genesee Valley Trust Co. now owns 12,216 shares of the company’s stock worth $127,000 after buying an additional 274 shares in the last quarter. ClariVest Asset Management LLC bought a new position in Radian Group during the second quarter worth $936,000. Finally, Nordea Investment Management AB boosted its position in Radian Group by 73.2% in the second quarter. Nordea Investment Management AB now owns 316,400 shares of the company’s stock worth $3,297,000 after buying an additional 133,700 shares in the last quarter. Institutional investors own 92.86% of the company’s stock.
About Radian Group
Radian Group Inc is a holding company that provides mortgage insurance, and products and services to the real estate and mortgage finance industries. The Company operates in two segments: Mortgage Insurance and Services. The Mortgage Insurance segment provides credit-related insurance coverage, principally through private mortgage insurance to mortgage lending institutions.
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