Susquehanna Bancshares Inc Reiterates “$22.00” Price Target for Radian Group Inc. (RDN)
Several other research analysts have also weighed in on the stock. BTIG Research reissued a buy rating and set a $22.00 price objective on shares of Radian Group in a report on Sunday. Compass Point reissued a neutral rating and set a $21.25 price objective on shares of Radian Group in a report on Saturday, October 14th. Zacks Investment Research raised shares of Radian Group from a hold rating to a buy rating and set a $21.00 price objective for the company in a report on Tuesday, October 10th. ValuEngine raised shares of Radian Group from a buy rating to a strong-buy rating in a report on Tuesday, September 26th. Finally, Barclays PLC reissued an overweight rating and set a $24.00 price objective (down from $25.00) on shares of Radian Group in a report on Wednesday, August 2nd. One analyst has rated the stock with a sell rating, one has issued a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock currently has an average rating of Buy and a consensus target price of $21.91.
Shares of Radian Group (RDN) opened at 20.11 on Monday. The stock has a market capitalization of $4.33 billion, a PE ratio of 23.09 and a beta of 1.51. The company has a 50-day moving average of $18.05 and a 200-day moving average of $17.40. Radian Group has a 12 month low of $12.96 and a 12 month high of $20.32.
Radian Group (NYSE:RDN) last announced its quarterly earnings data on Tuesday, August 1st. The insurance provider reported $0.48 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.40 by $0.08. The company had revenue of $302.91 million during the quarter, compared to analyst estimates of $299.07 million. Radian Group had a net margin of 16.26% and a return on equity of 12.81%. The firm’s revenue for the quarter was up 4.9% compared to the same quarter last year. During the same period last year, the business earned $0.38 EPS. On average, equities research analysts expect that Radian Group will post $1.73 EPS for the current fiscal year.
Radian Group declared that its board has initiated a share buyback program on Wednesday, August 9th that allows the company to repurchase $50.00 million in outstanding shares. This repurchase authorization allows the insurance provider to repurchase up to 1.3% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s board believes its stock is undervalued.
In other Radian Group news, CEO Richard G. Thornberry purchased 5,000 shares of Radian Group stock in a transaction dated Monday, August 21st. The shares were bought at an average cost of $16.54 per share, for a total transaction of $82,700.00. Following the transaction, the chief executive officer now owns 20,000 shares in the company, valued at approximately $330,800. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Richard G. Thornberry purchased 15,000 shares of Radian Group stock in a transaction dated Friday, August 18th. The stock was acquired at an average price of $16.78 per share, for a total transaction of $251,700.00. Following the completion of the transaction, the chief executive officer now owns 15,000 shares in the company, valued at approximately $251,700. The disclosure for this purchase can be found here. Company insiders own 1.06% of the company’s stock.
Institutional investors have recently bought and sold shares of the company. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Radian Group by 11.5% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,781 shares of the insurance provider’s stock worth $127,000 after buying an additional 803 shares during the last quarter. Skba Capital Management LLC bought a new position in shares of Radian Group in the 2nd quarter worth about $170,000. Zacks Investment Management bought a new position in shares of Radian Group in the 2nd quarter worth about $175,000. ETRADE Capital Management LLC bought a new position in shares of Radian Group in the 2nd quarter worth about $183,000. Finally, Alpine Woods Capital Investors LLC lifted its position in shares of Radian Group by 9.5% in the 2nd quarter. Alpine Woods Capital Investors LLC now owns 11,510 shares of the insurance provider’s stock worth $188,000 after buying an additional 1,000 shares during the last quarter. Institutional investors own 89.97% of the company’s stock.
About Radian Group
Radian Group Inc is an insurance holding company that provides mortgage insurance, and products and services to the real estate and mortgage finance industries. The Company operates in two segments: Mortgage Insurance and Services. The Mortgage Insurance segment provides credit-related insurance coverage, principally through private mortgage insurance to mortgage lending institutions.
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