UBS Group Increases Radian Group (NYSE:RDN) Price Target to $31.50

Radian Group (NYSE:RDN) had its target price increased by UBS Group from $30.00 to $31.50 in a report published on Wednesday, Benzinga reports. UBS Group currently has a neutral rating on the insurance provider’s stock.

Separately, Keefe, Bruyette & Woods restated a market perform rating and issued a $35.00 price objective (down from $36.00) on shares of Radian Group in a report on Thursday, April 4th. Five investment analysts have rated the stock with a hold rating, According to MarketBeat, the company currently has an average rating of Hold and an average price target of $30.88.

Radian Group Price Performance

Radian Group stock opened at $31.30 on Wednesday. Radian Group has a 52-week low of $24.34 and a 52-week high of $33.69. The firm has a market capitalization of $4.71 billion, a price-to-earnings ratio of 8.28, a PEG ratio of 1.76 and a beta of 1.03. The company has a quick ratio of 1.80, a current ratio of 1.80 and a debt-to-equity ratio of 0.39. The company has a fifty day simple moving average of $31.25 and a 200-day simple moving average of $29.11.

Radian Group (NYSE:RDN) last issued its earnings results on Wednesday, May 1st. The insurance provider reported $1.03 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.83 by $0.20. Radian Group had a return on equity of 14.52% and a net margin of 47.74%. The company had revenue of $319.42 million during the quarter, compared to analysts’ expectations of $314.76 million. During the same period in the prior year, the business earned $0.98 EPS. The firm’s quarterly revenue was up 3.1% on a year-over-year basis. On average, equities analysts anticipate that Radian Group will post 3.52 EPS for the current fiscal year.

Radian Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 20th. Stockholders of record on Tuesday, June 4th will be given a dividend of $0.245 per share. This represents a $0.98 dividend on an annualized basis and a dividend yield of 3.13%. The ex-dividend date of this dividend is Tuesday, June 4th. Radian Group’s dividend payout ratio is presently 25.93%.

Insider Buying and Selling at Radian Group

In other news, Director Noel Joseph Spiegel sold 5,895 shares of the firm’s stock in a transaction dated Thursday, May 23rd. The stock was sold at an average price of $31.80, for a total transaction of $187,461.00. Following the sale, the director now owns 20,008 shares of the company’s stock, valued at approximately $636,254.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, Director Noel Joseph Spiegel sold 5,895 shares of the business’s stock in a transaction dated Thursday, May 23rd. The stock was sold at an average price of $31.80, for a total value of $187,461.00. Following the completion of the sale, the director now directly owns 20,008 shares of the company’s stock, valued at approximately $636,254.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Howard Bernard Culang sold 10,804 shares of the firm’s stock in a transaction that occurred on Thursday, May 23rd. The stock was sold at an average price of $31.45, for a total transaction of $339,785.80. Following the transaction, the chairman now owns 8,050 shares in the company, valued at $253,172.50. The disclosure for this sale can be found here. In the last three months, insiders have sold 117,004 shares of company stock valued at $3,651,517. Insiders own 2.16% of the company’s stock.

Institutional Investors Weigh In On Radian Group

Hedge funds have recently modified their holdings of the stock. Cambridge Investment Research Advisors Inc. purchased a new position in shares of Radian Group in the 3rd quarter valued at about $255,000. Raymond James Financial Services Advisors Inc. raised its position in shares of Radian Group by 6.8% in the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 21,304 shares of the insurance provider’s stock worth $535,000 after buying an additional 1,349 shares during the period. Allspring Global Investments Holdings LLC raised its holdings in shares of Radian Group by 7.1% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 17,809 shares of the insurance provider’s stock worth $447,000 after purchasing an additional 1,185 shares during the period. California Public Employees Retirement System lifted its position in Radian Group by 10.4% during the third quarter. California Public Employees Retirement System now owns 327,040 shares of the insurance provider’s stock valued at $8,212,000 after buying an additional 30,796 shares in the last quarter. Finally, Los Angeles Capital Management LLC lifted its holdings in shares of Radian Group by 174.5% during the 3rd quarter. Los Angeles Capital Management LLC now owns 27,864 shares of the insurance provider’s stock valued at $700,000 after acquiring an additional 17,713 shares in the last quarter. 95.33% of the stock is owned by institutional investors and hedge funds.

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.