Key Points
- Insider sale: Radian Group director Margaret Anne Leyden sold 2,070 shares at an average price of $34.59, reducing her holdings by 23.17%. The filing says the sale was made to cover tax withholding obligations tied to vesting equity awards.
- Strong quarterly results: Radian reported first-quarter EPS of $1.27, beating estimates by $0.10, on revenue of $466.34 million versus expectations of $377.83 million. Revenue jumped 46.6% from a year ago.
- Dividend and analyst outlook: The company declared a quarterly dividend of $0.255 per share, implying a 3.0% annualized yield. Analysts currently have a consensus rating of Moderate Buy with an average target price of $42.67.
Radian Group Inc. (NYSE:RDN - Get Free Report) Director Margaret Anne Leyden sold 2,070 shares of Radian Group stock in a transaction dated Friday, May 29th. The stock was sold at an average price of $34.59, for a total transaction of $71,601.30. Following the sale, the director directly owned 6,864 shares of the company's stock, valued at $237,425.76. The trade was a 23.17% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.
Radian Group Stock Performance
Shares of RDN stock opened at $33.84 on Tuesday. The company has a market capitalization of $4.50 billion, a price-to-earnings ratio of 8.33, a PEG ratio of 0.87 and a beta of 0.73. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.58 and a current ratio of 0.58. The company has a 50-day simple moving average of $35.19 and a 200 day simple moving average of $34.72. Radian Group Inc. has a 52 week low of $31.50 and a 52 week high of $38.84.
Radian Group (NYSE:RDN - Get Free Report) last announced its earnings results on Thursday, May 7th. The insurance provider reported $1.27 EPS for the quarter, topping the consensus estimate of $1.17 by $0.10. The business had revenue of $466.34 million during the quarter, compared to the consensus estimate of $377.83 million. Radian Group had a net margin of 40.50% and a return on equity of 13.57%. Radian Group's revenue was up 46.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.99 EPS. On average, sell-side analysts predict that Radian Group Inc. will post 5.11 earnings per share for the current year.
Radian Group Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 17th. Shareholders of record on Tuesday, June 2nd will be issued a $0.255 dividend. The ex-dividend date of this dividend is Tuesday, June 2nd. This represents a $1.02 dividend on an annualized basis and a yield of 3.0%. Radian Group's payout ratio is currently 25.12%.
Analyst Ratings Changes
A number of research firms have issued reports on RDN. Zacks Research downgraded shares of Radian Group from a "strong-buy" rating to a "hold" rating in a report on Monday, April 20th. 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 report on Friday, April 10th. Royal Bank Of Canada began coverage on shares of Radian Group in a report on Friday, May 22nd. They issued an "outperform" rating and a $47.00 price objective for the company. UBS Group cut their price objective on shares of Radian Group from $41.00 to $39.00 and set a "neutral" rating for the company in a report on Thursday, March 12th. Finally, Bank of America raised shares of Radian Group from an "underperform" rating to a "buy" rating and boosted their price objective for the company from $35.00 to $43.00 in a report on Wednesday, April 29th. Five analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $42.67.
Check Out Our Latest Research Report on RDN
Hedge Funds Weigh In On Radian Group
Several hedge funds and other institutional investors have recently made changes to their positions in the company. Jones Financial Companies Lllp increased its position in Radian Group by 14.8% during the 1st quarter. Jones Financial Companies Lllp now owns 2,764 shares of the insurance provider's stock worth $91,000 after purchasing an additional 357 shares in the last quarter. Geneos Wealth Management Inc. increased its position in Radian Group by 191.3% during the 1st quarter. Geneos Wealth Management Inc. now owns 871 shares of the insurance provider's stock worth $29,000 after purchasing an additional 572 shares in the last quarter. EverSource Wealth Advisors LLC increased its position in Radian Group by 94.0% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,860 shares of the insurance provider's stock worth $67,000 after purchasing an additional 901 shares in the last quarter. Walleye Capital LLC acquired a new position in Radian Group during the 2nd quarter worth approximately $239,000. Finally, Marshall Wace LLP acquired a new position in Radian Group during the 2nd quarter worth approximately $452,000. 95.33% of the stock is currently owned by institutional investors and hedge funds.
Radian Group Company Profile
(
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.
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