Radian Group (NYSE:RDN) Cut to Hold at Zacks Research

Radian Group (NYSE:RDN) was downgraded by analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a research note issued to investors on Monday,Zacks.com reports.

A number of other equities research analysts have also commented on RDN. Roth Mkm reaffirmed a “buy” rating and set a $45.00 price target on shares of Radian Group in a research report on Friday, January 2nd. Keefe, Bruyette & Woods raised their price target on Radian Group from $42.00 to $43.00 and gave the stock an “outperform” rating in a research report on Friday, April 10th. UBS Group dropped their price target on Radian Group from $41.00 to $39.00 and set a “neutral” rating on the stock in a research report on Thursday, March 12th. Barclays dropped their price target on Radian Group from $40.00 to $37.00 and set an “equal weight” rating on the stock in a research report on Monday, April 6th. Finally, Weiss Ratings lowered Radian Group from a “buy (a-)” rating to a “buy (b+)” rating in a research report on Tuesday, January 13th. Three equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, Radian Group has an average rating of “Hold” and a consensus target price of $40.20.

Radian Group Trading Up 0.4%

NYSE:RDN opened at $35.38 on Monday. Radian Group has a 1-year low of $29.32 and a 1-year high of $38.84. The business’s 50-day moving average price is $33.74 and its two-hundred day moving average price is $34.28. The company has a current ratio of 3.40, a quick ratio of 3.40 and a debt-to-equity ratio of 0.23. The firm has a market capitalization of $4.77 billion, a price-to-earnings ratio of 8.52, a PEG ratio of 1.90 and a beta of 0.77.

Radian Group (NYSE:RDN) last released its earnings results on Thursday, February 19th. The insurance provider reported $1.16 earnings per share for the quarter, beating the consensus estimate of $1.11 by $0.05. Radian Group had a return on equity of 13.07% and a net margin of 46.99%.The firm had revenue of $300.51 million for the quarter, compared to analyst estimates of $300.45 million. During the same quarter in the prior year, the firm posted $1.09 earnings per share. The company’s quarterly revenue was up 2.7% on a year-over-year basis. On average, equities analysts expect that Radian Group will post 4.72 earnings per share for the current year.

Insider Activity at Radian Group

In related news, EVP Edward J. Hoffman sold 13,009 shares of the stock in a transaction dated Friday, April 17th. The stock was sold at an average price of $35.00, for a total transaction of $455,315.00. Following the completion of the transaction, the executive vice president directly owned 138,708 shares in the company, valued at approximately $4,854,780. This trade represents a 8.57% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 2.03% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Radian Group

Several institutional investors have recently bought and sold shares of RDN. Norges Bank bought a new stake in Radian Group in the 4th quarter valued at approximately $77,364,000. Balyasny Asset Management L.P. grew its stake in Radian Group by 151.7% in the third quarter. Balyasny Asset Management L.P. now owns 1,873,049 shares of the insurance provider’s stock valued at $67,842,000 after purchasing an additional 1,128,852 shares in the last quarter. Donald Smith & CO. Inc. grew its stake in Radian Group by 43.7% in the fourth quarter. Donald Smith & CO. Inc. now owns 3,012,255 shares of the insurance provider’s stock valued at $108,411,000 after purchasing an additional 916,003 shares in the last quarter. Vanguard Group Inc. grew its stake in Radian Group by 2.7% in the third quarter. Vanguard Group Inc. now owns 16,272,597 shares of the insurance provider’s stock valued at $589,393,000 after purchasing an additional 427,473 shares in the last quarter. Finally, Millennium Management LLC grew its stake in Radian Group by 59.7% in the third quarter. Millennium Management LLC now owns 1,007,172 shares of the insurance provider’s stock valued at $36,480,000 after purchasing an additional 376,533 shares in the last quarter. Institutional investors own 95.33% of the company’s stock.

About Radian Group

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.