Radian Group (NYSE:RDN) Stock Price Expected to Rise, Barclays Analyst Says

Radian Group (NYSE:RDN) had its price target lifted by analysts at Barclays from $36.00 to $37.00 in a research report issued to clients and investors on Friday, Benzinga reports. The brokerage presently has an “equal weight” rating on the insurance provider’s stock. Barclays‘s price target would suggest a potential upside of 3.66% from the stock’s previous close.

A number of other research analysts also recently commented on the stock. Wall Street Zen downgraded shares of Radian Group from a “buy” rating to a “hold” rating in a report on Saturday, October 10th. BTIG Research started coverage on Radian Group in a research note on Tuesday, September 22nd. They set a “buy” rating and a $48.00 price objective on the stock. Zacks Research raised Radian Group from a “strong sell” rating to a “hold” rating in a research note on Tuesday, October 13th. Weiss Ratings downgraded Radian Group from a “buy (b+)” rating to a “buy (b)” rating in a research report on Tuesday, October 13th. Finally, Keefe, Bruyette & Woods lowered their price objective on Radian Group from $46.00 to $44.00 and set an “outperform” rating for the company in a research note on Tuesday, August 11th. Six analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $43.29.

Radian Group Price Performance

RDN traded down $1.58 during trading hours on Friday, hitting $35.69. The company’s stock had a trading volume of 178,210 shares, compared to its average volume of 1,365,437. The stock has a market cap of $4.72 billion, a price-to-earnings ratio of 8.77, a P/E/G ratio of 0.91 and a beta of 0.69. The business’s 50-day moving average price is $34.81 and its 200-day moving average price is $35.26. The company has a current ratio of 0.60, a quick ratio of 0.60 and a debt-to-equity ratio of 0.14. Radian Group has a 12 month low of $30.53 and a 12 month high of $41.05.

Radian Group (NYSE:RDN) last released its quarterly earnings data on Wednesday, November 4th. The insurance provider reported $1.44 EPS for the quarter, beating the consensus estimate of $1.20 by $0.24. Radian Group had a net margin of 28.41% and a return on equity of 14.28%. The business had revenue of $624.11 million during the quarter, compared to analyst estimates of $595.99 million. During the same quarter last year, the business earned $1.15 earnings per share. Sell-side analysts expect that Radian Group will post 4.85 earnings per share for the current fiscal year.

Insider Activity at Radian Group

In related news, EVP Meghan Bartholomew sold 7,812 shares of Radian Group stock in a transaction dated Monday, September 14th. The shares were sold at an average price of $35.94, for a total transaction of $280,763.28. Following the completion of the transaction, the executive vice president directly owned 39,203 shares of the company’s stock, valued at approximately $1,408,955.82. The trade was a 16.62% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 2.03% of the company’s stock.

Institutional Trading of Radian Group

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Maryland State Retirement & Pension System raised its position in Radian Group by 51.3% during the 3rd quarter. Maryland State Retirement & Pension System now owns 29,390 shares of the insurance provider’s stock valued at $900,000 after purchasing an additional 9,969 shares in the last quarter. Fulcrum Asset Management LLP lifted its holdings in shares of Radian Group by 1,044.9% in the 3rd quarter. Fulcrum Asset Management LLP now owns 2,038 shares of the insurance provider’s stock worth $67,000 after buying an additional 1,860 shares during the period. Allspring Global Investments Holdings LLC lifted its holdings in shares of Radian Group by 4.2% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 9,195 shares of the insurance provider’s stock worth $287,000 after buying an additional 369 shares during the period. CenterBook Partners LP grew its position in shares of Radian Group by 91.1% during the 3rd quarter. CenterBook Partners LP now owns 95,015 shares of the insurance provider’s stock worth $2,908,000 after buying an additional 45,289 shares in the last quarter. Finally, Vise Technologies Inc. grew its position in shares of Radian Group by 43.9% during the 3rd quarter. Vise Technologies Inc. now owns 35,547 shares of the insurance provider’s stock worth $1,088,000 after buying an additional 10,848 shares in the last quarter. 95.33% of the stock is owned by hedge funds and other institutional investors.

About Radian Group

Radian Group Inc (NYSE:RDN) is a financial services company that provides mortgage insurance and related services to the residential real estate industry. Through its mortgage insurance subsidiaries, including Radian Guaranty Inc, the company helps lenders manage credit risk on residential mortgages, particularly loans made to borrowers with smaller down payments. Its insurance can also help borrowers obtain home financing without contributing a traditional 20% down payment.

Radian’s mortgage insurance business serves mortgage lenders, banks, credit unions and other housing finance participants primarily in the United States.