Zacks Investment Research cut shares of Radian Group Inc. (NYSE:RDN) from a hold rating to a sell rating in a research report released on Tuesday.
According to Zacks, “Shares of Radian Group underperformed the Zacks categorized Multi Line insurance industry year to date. Stricter regulations, rising mortgage rates and a competitive market pose risks for Radian Group. The company expects expenses to be between $62 million and $66 million each quarter. Nonetheless, Radian Group is poised for long-term growth on expansive mortgage and real estate service offerings, declining delinquency, lower levels of paid claims and improving risk-based capital ratio. The company has received rating upgrades owing to a string of capital takes undertaken by the company and is thus on track to return to an investment grade rating. Its initiatives to solidify the financial position and improved debt maturity profile bode well.”
Several other equities analysts also recently weighed in on RDN. Keefe, Bruyette & Woods reiterated a buy rating and set a $22.00 target price on shares of Radian Group in a research report on Tuesday, March 21st. Deutsche Bank AG lowered their price objective on Radian Group from $22.00 to $21.00 and set a buy rating on the stock in a research report on Friday, April 28th. ValuEngine upgraded Radian Group from a buy rating to a strong-buy rating in a research report on Wednesday, June 7th. Finally, BidaskClub upgraded Radian Group from a sell rating to a hold rating in a research report on Tuesday, June 13th. Two research analysts have rated the stock with a sell rating, one has issued a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. Radian Group has an average rating of Buy and a consensus price target of $20.88.
Shares of Radian Group (NYSE:RDN) opened at 17.10 on Tuesday. The stock has a market cap of $3.68 billion, a PE ratio of 11.98 and a beta of 1.60. Radian Group has a one year low of $10.66 and a one year high of $19.87. The company’s 50-day moving average price is $16.60 and its 200-day moving average price is $17.82.
Radian Group (NYSE:RDN) last released its earnings results on Thursday, April 27th. The insurance provider reported $0.37 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.43 by $0.06. The company had revenue of $288.80 million for the quarter, compared to analysts’ expectations of $304.96 million. Radian Group had a net margin of 26.23% and a return on equity of 12.26%. Radian Group’s revenue for the quarter was down 7.7% on a year-over-year basis. During the same quarter last year, the firm posted $0.37 earnings per share. Equities research analysts anticipate that Radian Group will post $1.64 earnings per share for the current year.
Institutional investors have recently made changes to their positions in the stock. Quantbot Technologies LP acquired a new position in shares of Radian Group during the first quarter valued at approximately $114,000. Cambridge Investment Research Advisors Inc. acquired a new position in shares of Radian Group during the first quarter valued at approximately $253,000. Meeder Asset Management Inc. acquired a new position in shares of Radian Group during the first quarter valued at approximately $271,000. Stevens Capital Management LP acquired a new position in shares of Radian Group during the first quarter valued at approximately $272,000. Finally, Dynamic Technology Lab Private Ltd acquired a new position in shares of Radian Group during the first quarter valued at approximately $273,000. Institutional investors and hedge funds own 92.32% of the company’s stock.
Radian Group Company Profile
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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