Radian Group (NYSE:RDN) Price Target Raised to $37.00

Radian Group (NYSE:RDN) had its target price lifted by Royal Bank of Canada from $32.00 to $37.00 in a report released on Friday, Benzinga reports. Royal Bank of Canada currently has a sector perform rating on the insurance provider’s stock.

Several other brokerages also recently weighed in on RDN. Roth Mkm lifted their price objective on shares of Radian Group from $35.00 to $40.00 and gave the company a buy rating in a research report on Friday. Barclays boosted their price target on shares of Radian Group from $30.00 to $32.00 and gave the stock an equal weight rating in a research report on Friday. Keefe, Bruyette & Woods upgraded shares of Radian Group from a market perform rating to an outperform rating and boosted their price target for the stock from $35.00 to $36.00 in a research report on Monday, June 3rd. Finally, UBS Group lifted their target price on shares of Radian Group from $30.00 to $31.50 and gave the stock a neutral rating in a research report on Wednesday, May 22nd. Four research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of Hold and a consensus price target of $35.90.

Radian Group Stock Performance

NYSE:RDN traded down $1.00 during mid-day trading on Friday, hitting $33.94. The stock had a trading volume of 1,247,707 shares, compared to its average volume of 1,074,318. The stock has a market capitalization of $5.11 billion, a price-to-earnings ratio of 8.96, a P/E/G ratio of 1.98 and a beta of 1.05. The company has a 50 day simple moving average of $32.42 and a 200-day simple moving average of $30.98. Radian Group has a 52 week low of $24.56 and a 52 week high of $37.86. The company has a current ratio of 0.41, a quick ratio of 1.80 and a debt-to-equity ratio of 0.45.

Radian Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 20th. Shareholders of record on Tuesday, June 4th were given a $0.245 dividend. This represents a $0.98 annualized dividend and a yield of 2.89%. The ex-dividend date was Tuesday, June 4th. Radian Group’s dividend payout ratio is 25.93%.

Insiders Place Their Bets

In other news, Chairman Howard Bernard Culang sold 10,804 shares of the business’s stock in a transaction on Thursday, May 23rd. The shares were sold at an average price of $31.45, for a total value of $339,785.80. Following the completion of the sale, the chairman now directly owns 8,050 shares in the company, valued at $253,172.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, Chairman Howard Bernard Culang sold 10,804 shares of the company’s stock in a transaction on Thursday, May 23rd. The shares were sold at an average price of $31.45, for a total transaction of $339,785.80. Following the completion of the transaction, the chairman now directly owns 8,050 shares in the company, valued at approximately $253,172.50. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Eric Ray sold 65,305 shares of the company’s stock in a transaction on Thursday, May 23rd. The shares were sold at an average price of $31.05, for a total transaction of $2,027,720.25. Following the transaction, the executive vice president now owns 53,791 shares of the company’s stock, valued at $1,670,210.55. The disclosure for this sale can be found here. Insiders sold 117,004 shares of company stock valued at $3,651,517 over the last ninety days. Corporate insiders own 2.16% of the company’s stock.

Hedge Funds Weigh In On Radian Group

Several large investors have recently bought and sold shares of the stock. Caxton Associates LP increased its holdings in Radian Group by 208.3% in the 4th quarter. Caxton Associates LP now owns 137,114 shares of the insurance provider’s stock valued at $3,915,000 after buying an additional 92,641 shares during the period. Vanguard Group Inc. increased its holdings in Radian Group by 0.3% in the 1st quarter. Vanguard Group Inc. now owns 20,439,073 shares of the insurance provider’s stock valued at $684,096,000 after buying an additional 69,383 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd bought a new stake in Radian Group in the 4th quarter valued at $16,918,000. TD Asset Management Inc increased its holdings in Radian Group by 142.4% in the 4th quarter. TD Asset Management Inc now owns 49,200 shares of the insurance provider’s stock valued at $1,405,000 after buying an additional 28,900 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. increased its holdings in Radian Group by 42.8% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 173,084 shares of the insurance provider’s stock valued at $4,942,000 after buying an additional 51,852 shares during the period. 95.33% of the stock is currently owned by institutional investors and hedge funds.

Radian Group Company Profile

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.