Key Points
- Radian Group EVP Edward Hoffman sold 15,000 shares on May 8 at an average price of $38.00, totaling $570,000. The sale was made under a pre-arranged Rule 10b5-1 trading plan, and Hoffman still owned 93,708 shares afterward.
- Radian reported stronger-than-expected quarterly results, with EPS of $1.27 versus the $1.17 estimate and revenue of $466.34 million, up 46.6% year over year. The company also posted a net margin of 40.50% and return on equity of 13.57%.
- Wall Street sentiment is mixed but constructive, with analysts holding a consensus rating of “Moderate Buy” and an average price target of $41.00. Bank of America recently upgraded the stock to Buy and raised its target to $43.00.
Radian Group Inc. (NYSE:RDN - Get Free Report) EVP Edward Hoffman sold 15,000 shares of Radian Group stock in a transaction that occurred on Friday, May 8th. The shares were sold at an average price of $38.00, for a total transaction of $570,000.00. Following the sale, the executive vice president owned 93,708 shares of the company's stock, valued at approximately $3,560,904. The trade was a 13.80% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Radian Group Price Performance
RDN stock opened at $37.20 on Wednesday. The firm has a 50 day moving average of $34.43 and a 200-day moving average of $34.51. Radian Group Inc. has a 12-month low of $31.50 and a 12-month high of $38.84. The company has a current ratio of 0.58, a quick ratio of 3.40 and a debt-to-equity ratio of 0.16. The company has a market cap of $4.95 billion, a price-to-earnings ratio of 9.16, a PEG ratio of 0.93 and a beta of 0.76.
Radian Group (NYSE:RDN - Get Free Report) last posted its quarterly earnings results on Wednesday, May 6th. The insurance provider reported $1.27 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.17 by $0.10. Radian Group had a net margin of 40.50% and a return on equity of 13.57%. The company had revenue of $466.34 million during the quarter, compared to the consensus estimate of $377.83 million. During the same period last year, the firm earned $0.99 EPS. The company's revenue for the quarter was up 46.6% on a year-over-year basis. As a group, equities analysts expect that Radian Group Inc. will post 5.23 EPS for the current fiscal year.
Hedge Funds Weigh In On Radian Group
A number of institutional investors have recently added to or reduced their stakes in RDN. Mercer Global Advisors Inc. ADV lifted its position in Radian Group by 0.9% in the 3rd quarter. Mercer Global Advisors Inc. ADV now owns 33,365 shares of the insurance provider's stock worth $1,208,000 after buying an additional 288 shares in the last quarter. EverSource Wealth Advisors LLC lifted its position in Radian Group by 16.7% in the 3rd quarter. EverSource Wealth Advisors LLC now owns 2,170 shares of the insurance provider's stock worth $79,000 after buying an additional 310 shares in the last quarter. Bessemer Group Inc. lifted its position in Radian Group by 66.7% in the 3rd quarter. Bessemer Group Inc. now owns 795 shares of the insurance provider's stock worth $29,000 after buying an additional 318 shares in the last quarter. Hantz Financial Services Inc. lifted its position in Radian Group by 26.9% in the 4th quarter. Hantz Financial Services Inc. now owns 1,553 shares of the insurance provider's stock worth $56,000 after buying an additional 329 shares in the last quarter. Finally, Smartleaf Asset Management LLC lifted its position in Radian Group by 14.6% in the 2nd quarter. Smartleaf Asset Management LLC now owns 2,696 shares of the insurance provider's stock worth $97,000 after buying an additional 344 shares in the last quarter. Institutional investors and hedge funds own 95.33% of the company's stock.
Wall Street Analysts Forecast Growth
A number of research analysts have recently weighed in on the stock. Bank of America raised shares of Radian Group from an "underperform" rating to a "buy" rating and raised their price objective for the stock from $35.00 to $43.00 in a research note on Wednesday, April 29th. Zacks Research cut shares of Radian Group from a "strong-buy" rating to a "hold" rating in a research note on Monday, April 20th. Weiss Ratings cut shares of Radian Group from a "buy (a-)" rating to a "buy (b+)" rating in a research note on Tuesday, January 13th. Keefe, Bruyette & Woods boosted their price objective on shares of Radian Group from $42.00 to $43.00 and gave the company an "outperform" rating in a research note on Friday, April 10th. Finally, Barclays increased their target price on Radian Group from $37.00 to $39.00 and gave the company an "equal weight" rating in a research note on Monday. Four analysts have rated the stock with a Buy rating and four have given a Hold rating to the company's stock. According to MarketBeat, Radian Group presently has an average rating of "Moderate Buy" and a consensus price target of $41.00.
Check Out Our Latest Stock Report on Radian Group
About Radian Group
(
Get Free Report)
Radian Group Inc (NYSE:RDN) is a leading provider of private mortgage insurance and related risk management solutions in the United States. Through its primary subsidiary, Radian Guaranty Inc, the company underwrites borrower-paid and lender-paid mortgage insurance that protects lenders and investors from potential losses arising from borrower defaults. Radian's core business focuses on supporting residential mortgage originations and servicing by offering capital-efficient credit protection and credit risk transfer strategies.
Beyond mortgage insurance, Radian offers an array of real estate transaction services under its Radian Title division.
Further Reading
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