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

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

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

Radian Group Stock Down 4.2%

Shares of NYSE: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. Radian Group has a 52 week low of $30.53 and a 52 week high of $41.05. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.60 and a quick ratio of 0.60. The company has a market capitalization 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 firm’s fifty day moving average price is $34.81 and its 200 day moving average price is $35.26.

Radian Group (NYSE:RDN) last announced its quarterly earnings results on Wednesday, November 4th. The insurance provider reported $1.44 earnings per share for the quarter, topping 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 firm had revenue of $624.11 million during the quarter, compared to analysts’ expectations of $595.99 million. During the same quarter in the prior year, the company earned $1.15 EPS. As a group, research analysts expect that Radian Group will post 4.85 EPS for the current year.

Insider Buying and Selling at Radian Group

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

Institutional Investors Weigh In On Radian Group

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Maryland State Retirement & Pension System grew its holdings in Radian Group by 51.3% in the third quarter. Maryland State Retirement & Pension System now owns 29,390 shares of the insurance provider’s stock worth $900,000 after purchasing an additional 9,969 shares during the last quarter. Fulcrum Asset Management LLP increased its position in shares of Radian Group by 1,044.9% during the third quarter. Fulcrum Asset Management LLP now owns 2,038 shares of the insurance provider’s stock worth $67,000 after purchasing an additional 1,860 shares in the last quarter. Allspring Global Investments Holdings LLC increased its position in shares of Radian Group by 4.2% during the third quarter. Allspring Global Investments Holdings LLC now owns 9,195 shares of the insurance provider’s stock worth $287,000 after purchasing an additional 369 shares in the last quarter. CenterBook Partners LP lifted its holdings 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 valued at $2,908,000 after purchasing an additional 45,289 shares during the last quarter. Finally, Vise Technologies Inc. lifted its holdings 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 valued at $1,088,000 after purchasing an additional 10,848 shares during the last quarter. Hedge funds and other institutional investors own 95.33% of the company’s stock.

Radian Group Company Profile

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.