StockNews.com lowers Radian Group (NYSE: RDN) to hold

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Radian Group (NYSE: RDN – Get an Assessment) was downgraded by StockNews.com from a “buy” rating to a “hold” rating in a research note released Wednesday to investors.

A number of other equity research analysts have also recently commented on the stock. Barclays raised its price target on shares of Radian Group from $30.00 to $34.00 in a Monday, January 10 report. Zacks Investment Research moved shares of Radian Group from a “hold” rating to a “strong-buy” rating and set a price target of $27.00 on the stock in a Tuesday, January 11, report. Finally, BTIG Research lowered its price target on Radian Group shares from $28.00 to $26.00 in a report on Tuesday. One equity research analyst rated the stock with a sell rating, two issued a hold rating, two assigned a buy rating and one assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Radian Group currently has a consensus rating of “Buy” and an average target price of $27.58.

Shares of Radian Group traded up $0.32 during the midday session on Wednesday, hitting $22.00. 752,350 shares were traded, against an average volume of 2,109,406. Radian Group has a 12-month low of $19.17 and a 12-month high of $25.31. The company’s 50-day moving average is $23.02. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt ratio of 0.37. The stock has a market capitalization of $3.86 billion, a P/E ratio of 6.92, a P/E/G ratio of 1.33 and a beta of 1.29.

Radian Group (NYSE:RDN – Get Rating) last released its quarterly results on Tuesday, February 22. The insurance provider reported EPS of $1.07 for the quarter, beating analyst consensus estimates of $0.73 by $0.34. The company posted revenue of $338.37 million for the quarter, compared to $318.27 million expected by analysts. Radian Group achieved a net margin of 45.17% and a return on equity of 14.02%. Radian Group revenue decreased 8.5% year-over-year. In the same quarter a year earlier, the company posted EPS of $0.69. On average, research analysts expect Radian Group to post EPS of 3.28 for the current fiscal year.

Radian Group announced that its board of directors launched a share repurchase plan on Wednesday, February 9 that allows the company to repurchase $400.00 million of outstanding shares. This repurchase authorization allows the insurer to repurchase up to 9.5% of its shares through purchases on the open market. Stock buyback plans are often a sign that the company’s board of directors thinks its stock is undervalued.

A number of hedge funds have recently changed their RDN holdings. Barrow Hanley Mewhinney & Strauss LLC bought a new position in Radian Group stock during Q4 for $31,000. ETF Managers Group LLC bought a new position in shares of Radian Group during the 4th quarter for a value of $57,000. Sandy Cove Advisors LLC bought a new position in shares of Radian Group during Q4 for $63,000. Van ECK Associates Corp increased its position in Radian Group shares by 59.2% during the third quarter. Van ECK Associates Corp now owns 3,540 shares of the insurance provider valued at $80,000 after buying 1,316 additional shares in the last quarter. Finally, Covestor Ltd bought a new position in shares of Radian Group during the 4th quarter at a value of $84,000. 94.66% of the shares are currently held by institutional investors and hedge funds.

About Radian Group (Get a rating)

Radian Group, Inc is a holding company that provides mortgage insurance, risk management products and real estate services to financial institutions. It operates through mortgage and real estate segments. The Mortgages segment provides credit-related insurance coverage, as well as other credit risk management solutions to mortgage lenders and mortgage investors.

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