Radian Group (NYSE:RDN) Issues Quarterly Earnings Results, Beats Expectations By $0.20 EPS

Radian Group (NYSE:RDN) announced its earnings results on Tuesday. The insurance provider reported $1.15 earnings per share for the quarter, topping analysts’ consensus estimates of $0.95 by $0.20, Zacks reports. Radian Group had a net margin of 45.62% and a return on equity of 13.25%. The business’s revenue for the quarter was down 3.3% compared to the same quarter last year. During the same period last year, the firm posted $1.03 earnings per share.

Radian Group Stock Performance

Shares of Radian Group stock traded up $0.16 during trading on Tuesday, hitting $34.26. 1,252,598 shares of the stock were exchanged, compared to its average volume of 1,331,035. The company has a current ratio of 1.68, a quick ratio of 1.68 and a debt-to-equity ratio of 0.54. The company has a fifty day moving average price of $34.77 and a 200-day moving average price of $34.31. The stock has a market capitalization of $4.64 billion, a price-to-earnings ratio of 8.63 and a beta of 0.73. Radian Group has a 1-year low of $29.32 and a 1-year high of $38.84.

Radian Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 9th. Stockholders of record on Monday, August 25th were paid a dividend of $0.255 per share. The ex-dividend date was Monday, August 25th. This represents a $1.02 annualized dividend and a dividend yield of 3.0%. Radian Group’s payout ratio is currently 25.69%.

Analyst Ratings Changes

A number of analysts have recently commented on RDN shares. Keefe, Bruyette & Woods lowered Radian Group from a “moderate buy” rating to a “hold” rating and set a $38.00 price target on the stock. in a report on Monday, July 7th. Barclays boosted their target price on Radian Group from $35.00 to $37.00 and gave the company a “cautious” rating in a research note on Monday, October 6th. Zacks Research raised Radian Group from a “hold” rating to a “strong-buy” rating in a research report on Monday, September 22nd. Weiss Ratings downgraded shares of Radian Group from a “buy (a-)” rating to a “buy (b)” rating in a report on Saturday, October 25th. Finally, UBS Group reduced their target price on shares of Radian Group from $43.00 to $40.00 and set a “neutral” rating for the company in a report on Wednesday, October 15th. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $38.00.

Insider Buying and Selling

In other Radian Group news, EVP Edward J. Hoffman sold 10,000 shares of the business’s stock in a transaction that occurred on Thursday, September 18th. The stock was sold at an average price of $37.00, for a total transaction of $370,000.00. Following the transaction, the executive vice president owned 153,708 shares of the company’s stock, valued at $5,687,196. The trade was a 6.11% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 2.01% of the company’s stock.

Institutional Investors Weigh In On Radian Group

A number of institutional investors have recently made changes to their positions in the company. Balyasny Asset Management L.P. increased its stake in shares of Radian Group by 113.3% during the second quarter. Balyasny Asset Management L.P. now owns 744,197 shares of the insurance provider’s stock worth $26,806,000 after purchasing an additional 395,370 shares during the period. Canada Pension Plan Investment Board acquired a new position in Radian Group in the 2nd quarter valued at $9,048,000. Qube Research & Technologies Ltd acquired a new position in Radian Group in the 2nd quarter valued at $8,726,000. Cubist Systematic Strategies LLC increased its position in Radian Group by 173.1% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 271,802 shares of the insurance provider’s stock worth $9,790,000 after buying an additional 172,284 shares during the period. Finally, Lighthouse Investment Partners LLC acquired a new stake in shares of Radian Group during the second quarter worth $3,022,000. Institutional investors 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.