Radian Group (NYSE:RDN) Price Target Cut to $20.00 by Analysts at B. Riley

Radian Group (NYSE:RDN) had its price objective lowered by B. Riley from $24.00 to $20.00 in a research report released on Monday morning, BenzingaRatingsTable reports. The firm currently has a neutral rating on the insurance provider’s stock. B. Riley also issued estimates for Radian Group’s Q1 2020 earnings at $0.74 EPS, FY2020 earnings at $2.65 EPS and FY2021 earnings at $2.80 EPS.

Separately, ValuEngine upgraded Radian Group from a strong sell rating to a sell rating in a research note on Friday, March 13th. Two research analysts have rated the stock with a sell rating, one has issued a hold rating and five have issued a buy rating to the company’s stock. The stock presently has an average rating of Hold and an average target price of $27.92.

NYSE:RDN traded up $2.63 during mid-day trading on Monday, reaching $15.83. 2,961,784 shares of the stock were exchanged, compared to its average volume of 2,091,405. The company has a 50 day simple moving average of $20.99 and a 200-day simple moving average of $23.73. The stock has a market capitalization of $2.30 billion, a P/E ratio of 4.98, a P/E/G ratio of 0.73 and a beta of 1.41. The company has a quick ratio of 1.35, a current ratio of 1.35 and a debt-to-equity ratio of 0.25. Radian Group has a 1 year low of $10.39 and a 1 year high of $26.32.

Radian Group (NYSE:RDN) last released its quarterly earnings results on Wednesday, February 5th. The insurance provider reported $0.86 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.77 by $0.09. The firm had revenue of $388.02 million for the quarter, compared to the consensus estimate of $365.43 million. Radian Group had a return on equity of 17.37% and a net margin of 44.03%. The firm’s quarterly revenue was up 17.1% compared to the same quarter last year. During the same quarter last year, the business posted $0.77 EPS. As a group, research analysts predict that Radian Group will post 3.19 EPS for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 6th. Shareholders of record on Monday, February 24th were given a dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a yield of 3.16%. This is a boost from Radian Group’s previous quarterly dividend of $0.00. The ex-dividend date of this dividend was Friday, February 21st. Radian Group’s dividend payout ratio (DPR) is presently 15.58%.

In other Radian Group news, EVP Edward J. Hoffman sold 10,000 shares of the stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $23.90, for a total transaction of $239,000.00. Following the completion of the sale, the executive vice president now directly owns 61,648 shares of the company’s stock, valued at approximately $1,473,387.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.02% of the stock is currently owned by company insiders.

Several institutional investors and hedge funds have recently bought and sold shares of RDN. Tower Research Capital LLC TRC acquired a new position in Radian Group during the third quarter worth $127,000. Voya Investment Management LLC raised its holdings in Radian Group by 37.3% during the third quarter. Voya Investment Management LLC now owns 1,031,399 shares of the insurance provider’s stock worth $23,557,000 after purchasing an additional 280,045 shares during the last quarter. Parametric Portfolio Associates LLC raised its holdings in Radian Group by 34.5% during the third quarter. Parametric Portfolio Associates LLC now owns 896,116 shares of the insurance provider’s stock worth $20,467,000 after purchasing an additional 229,979 shares during the last quarter. Point72 Asset Management L.P. raised its holdings in Radian Group by 24.5% during the third quarter. Point72 Asset Management L.P. now owns 2,225,848 shares of the insurance provider’s stock worth $50,838,000 after purchasing an additional 437,975 shares during the last quarter. Finally, Banco de Sabadell S.A acquired a new position in Radian Group during the third quarter worth $1,186,000. 95.07% of the stock is owned by institutional investors and hedge funds.

About Radian Group

Radian Group Inc, through its subsidiaries, engages in the mortgage and real estate services business in the United States. It operates in two segments, Mortgage Insurance and Services. The Mortgage Insurance segment offers credit-related insurance coverage, primarily through private mortgage insurance on residential first-lien mortgage loans, as well as other credit risk management solutions to mortgage lending institutions and mortgage credit investors.

Read More: What is the significance of a dead cat bounce?

Analyst Recommendations for Radian Group (NYSE:RDN)

Receive News & Ratings for Radian Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Radian Group and related companies with MarketBeat.com's FREE daily email newsletter.