Radian Group (NYSE:RDN) Trading Down 5.8% – Here’s What Happened

Radian Group Inc. (NYSE:RDN)’s stock price was down 5.8% on Friday . The company traded as low as $32.80 and last traded at $32.87. Approximately 240,885 shares traded hands during mid-day trading, a decline of 76% from the average daily volume of 1,022,491 shares. The stock had previously closed at $34.91.

Analysts Set New Price Targets

Several analysts have issued reports on the company. Roth Mkm upped their target price on Radian Group from $35.00 to $40.00 and gave the stock a “buy” rating in a research note on Friday, August 2nd. Barclays increased their target price on Radian Group from $32.00 to $33.00 and gave the company an “equal weight” rating in a report on Tuesday, October 8th. Keefe, Bruyette & Woods boosted their price objective on Radian Group from $36.00 to $39.00 and gave the company an “outperform” rating in a research report on Monday, August 5th. Finally, Royal Bank of Canada lifted their target price on shares of Radian Group from $32.00 to $37.00 and gave the stock a “sector perform” rating in a research note on Friday, August 2nd. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, Radian Group presently has an average rating of “Hold” and an average price target of $36.10.

Radian Group Stock Down 7.0 %

The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.84 and a current ratio of 1.84. The stock’s 50-day moving average price is $34.94 and its two-hundred day moving average price is $33.12. The stock has a market capitalization of $4.88 billion, a PE ratio of 8.48, a P/E/G ratio of 1.88 and a beta of 1.05.

Radian Group (NYSE:RDN) last announced its quarterly earnings data on Wednesday, July 31st. The insurance provider reported $0.99 earnings per share for the quarter, topping analysts’ consensus estimates of $0.87 by $0.12. Radian Group had a net margin of 47.05% and a return on equity of 14.43%. The business had revenue of $312.37 million for the quarter, compared to analysts’ expectations of $324.00 million. As a group, analysts expect that Radian Group Inc. will post 3.75 EPS for the current fiscal year.

Radian Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 11th. Investors of record on Monday, August 26th were paid a $0.245 dividend. The ex-dividend date was Monday, August 26th. This represents a $0.98 annualized dividend and a dividend yield of 3.02%. Radian Group’s payout ratio is currently 25.45%.

Insider Activity at Radian Group

In other Radian Group news, insider Derek Brummer sold 35,153 shares of the business’s stock in a transaction on Thursday, September 5th. The stock was sold at an average price of $35.36, for a total value of $1,243,010.08. Following the sale, the insider now directly owns 186,535 shares of the company’s stock, valued at approximately $6,595,877.60. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, EVP Eric Ray sold 53,791 shares of the stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $35.67, for a total transaction of $1,918,724.97. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Derek Brummer sold 35,153 shares of the business’s stock in a transaction that occurred on Thursday, September 5th. The stock was sold at an average price of $35.36, for a total transaction of $1,243,010.08. Following the completion of the transaction, the insider now owns 186,535 shares of the company’s stock, valued at approximately $6,595,877.60. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 119,772 shares of company stock valued at $4,260,796 in the last 90 days. Corporate insiders own 2.16% of the company’s stock.

Institutional Trading of Radian Group

Institutional investors and hedge funds have recently modified their holdings of the business. Vanguard Group Inc. lifted its holdings in shares of Radian Group by 0.3% during the first quarter. Vanguard Group Inc. now owns 20,439,073 shares of the insurance provider’s stock valued at $684,096,000 after purchasing an additional 69,383 shares in the last quarter. Jennison Associates LLC purchased a new stake in shares of Radian Group during the 1st quarter valued at about $852,000. Leuthold Group LLC bought a new stake in shares of Radian Group in the first quarter worth approximately $3,242,000. Acadian Asset Management LLC purchased a new position in shares of Radian Group during the first quarter valued at approximately $1,442,000. Finally, Empowered Funds LLC bought a new position in Radian Group during the first quarter valued at approximately $1,059,000. 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.