BTIG Research Reaffirms “Buy” Rating for Radian Group Inc. (RDN)

BTIG Research reissued their buy rating on shares of Radian Group Inc. (NYSE:RDN) in a research report report published on Sunday. The firm currently has a $22.00 target price on the insurance provider’s stock.

“Noise Should Enable Rally in RDN Shares to Continue With the impact of the restructuring of Radian Group’s (RDN) underperforming Mortgage and Real Estate Services unit having been absorbed by the market and baked into the stock’s valuation, the 3Q17 report the company released this morning returned the focus to its core mortgage insurance business.”,” the firm’s analyst commented.

A number of other brokerages have also weighed in on RDN. Compass Point upgraded shares of Radian Group from a neutral rating to a buy rating and upped their target price for the stock from $21.75 to $24.75 in a research report on Friday, October 27th. FBR & Co reiterated a buy rating on shares of Radian Group in a research report on Thursday, October 26th. Zacks Investment Research lowered shares of Radian Group from a buy rating to a hold rating in a research report on Monday, October 23rd. Deutsche Bank AG increased their price objective on shares of Radian Group from $21.00 to $23.00 and gave the company a buy rating in a research report on Wednesday, October 25th. Finally, Susquehanna Bancshares Inc set a $22.00 price objective on shares of Radian Group and gave the company a buy rating in a research report on Monday, October 16th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company has a consensus rating of Buy and a consensus price target of $22.59.

Shares of Radian Group (RDN) opened at 20.96 on Friday. The company’s 50-day moving average price is $18.94 and its 200 day moving average price is $17.56. The company has a market cap of $4.51 billion, a P/E ratio of 24.06 and a beta of 1.51. Radian Group has a 52 week low of $12.96 and a 52 week high of $21.59.

Radian Group (NYSE:RDN) last issued its earnings results on Thursday, October 26th. The insurance provider reported $0.46 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.42 by $0.04. Radian Group had a net margin of 14.88% and a return on equity of 13.09%. The firm had revenue of $312.05 million during the quarter, compared to analyst estimates of $321.10 million. During the same quarter in the prior year, the business earned $0.41 earnings per share. Radian Group’s revenue for the quarter was down 2.8% on a year-over-year basis. On average, equities analysts forecast that Radian Group will post $1.75 EPS for the current fiscal year.

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Radian Group announced that its Board of Directors has authorized a stock buyback plan on Wednesday, August 9th that permits the company to repurchase $50.00 million in outstanding shares. This repurchase authorization permits the insurance provider to buy up to 1.3% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s management believes its stock is undervalued.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 8th. Shareholders of record on Monday, November 27th will be given a dividend of $0.002 per share. The ex-dividend date of this dividend is Friday, November 24th. This represents a $0.01 annualized dividend and a yield of 0.04%. Radian Group’s dividend payout ratio (DPR) is currently 1.28%.

In other news, CEO Richard G. Thornberry bought 5,000 shares of Radian Group stock in a transaction dated Monday, August 21st. The shares were acquired at an average price of $16.54 per share, with a total value of $82,700.00. Following the completion of the purchase, the chief executive officer now owns 20,000 shares in the company, valued at approximately $330,800. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Catherine Mary Jackson sold 17,130 shares of the stock in a transaction on Tuesday, August 15th. The shares were sold at an average price of $17.22, for a total transaction of $294,978.60. Following the completion of the sale, the senior vice president now directly owns 80,720 shares in the company, valued at approximately $1,389,998.40. The disclosure for this sale can be found here. Corporate insiders own 1.06% of the company’s stock.

Institutional investors and hedge funds have recently made changes to their positions in the company. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Radian Group by 11.5% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,781 shares of the insurance provider’s stock valued at $127,000 after acquiring an additional 803 shares during the period. Skba Capital Management LLC purchased a new stake in shares of Radian Group in the second quarter valued at $170,000. Zacks Investment Management purchased a new stake in shares of Radian Group in the second quarter valued at $175,000. ETRADE Capital Management LLC purchased a new stake in shares of Radian Group in the second quarter valued at $183,000. Finally, Alpine Woods Capital Investors LLC raised its stake in shares of Radian Group by 9.5% in the second quarter. Alpine Woods Capital Investors LLC now owns 11,510 shares of the insurance provider’s stock valued at $188,000 after acquiring an additional 1,000 shares during the period. 90.37% of the stock is currently owned by institutional investors and hedge funds.

Radian Group Company Profile

Radian Group Inc is an insurance 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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