Radian Group (NYSE:RDN) Shares Break Below 200-Day Moving Average – Time to Sell?
by Kim Johansen · The Markets DailyRadian Group Inc. (NYSE:RDN – Get Free Report) shares passed below its 200-day moving average during trading on Wednesday. The stock has a 200-day moving average of $35.17 and traded as low as $34.92. Radian Group shares last traded at $34.9640, with a volume of 1,606,183 shares traded.
Analysts Set New Price Targets
RDN has been the subject of a number of analyst reports. Wall Street Zen cut Radian Group from a “buy” rating to a “hold” rating in a research report on Saturday, October 10th. Zacks Research raised Radian Group from a “strong sell” rating to a “hold” rating in a research report on Tuesday, October 13th. Weiss Ratings downgraded Radian Group from a “buy (b+)” rating to a “buy (b)” rating in a research note on Tuesday, October 13th. Barclays boosted their price objective on Radian Group from $35.00 to $36.00 and gave the company an “equal weight” rating in a research note on Monday, October 5th. Finally, BTIG Research assumed coverage on shares of Radian Group in a report on Tuesday, September 22nd. They issued a “buy” rating and a $48.00 target price for the company. Six analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $43.14.
View Our Latest Analysis on Radian Group
Radian Group Price Performance
The company has a market cap of $4.70 billion, a P/E ratio of 9.13, a PEG ratio of 0.89 and a beta of 0.71. The firm’s 50-day moving average is $34.83 and its two-hundred day moving average is $35.18. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.60 and a quick ratio of 0.60.
Radian Group (NYSE:RDN – Get Free Report) last released its earnings results on Thursday, August 6th. The insurance provider reported $1.14 earnings per share for the quarter, missing the consensus estimate of $1.34 by ($0.20). Radian Group had a net margin of 32.60% and a return on equity of 13.65%. The company had revenue of $574.96 million for the quarter, compared to the consensus estimate of $556.55 million. During the same period in the prior year, the firm posted $1.01 EPS. The business’s revenue for the quarter was up 92.3% compared to the same quarter last year. Analysts anticipate that Radian Group Inc. will post 4.85 earnings per share for the current year.
Radian Group Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Wednesday, September 9th. Stockholders of record on Monday, August 24th were issued a $0.2550 dividend. This represents a $1.02 dividend on an annualized basis and a dividend yield of 2.9%. The ex-dividend date was Monday, August 24th. Radian Group’s dividend payout ratio (DPR) is currently 26.22%.
Insiders Place Their Bets
In other news, EVP Meghan Bartholomew sold 7,812 shares of the company’s stock in a transaction dated Monday, September 14th. The shares were sold at an average price of $35.94, for a total transaction of $280,763.28. Following the transaction, the executive vice president owned 39,203 shares in the company, valued at $1,408,955.82. This represents a 16.62% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 2.03% of the stock is currently owned by company insiders.
Institutional Investors Weigh In On Radian Group
A number of institutional investors and hedge funds have recently modified their holdings of the company. BlackRock Inc. bought a new stake in Radian Group during the 2nd quarter valued at approximately $728,072,000. Donald Smith & CO. Inc. bought a new position in Radian Group in the second quarter worth $163,104,000. Caisse de depot et placement du Quebec bought a new position in Radian Group in the second quarter worth $89,334,000. Bruni J V & Co. Co. acquired a new stake in Radian Group during the second quarter worth $59,355,376. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in Radian Group during the second quarter worth $45,553,000. Institutional investors and hedge funds own 95.33% of the company’s stock.
Radian Group Company Profile
Radian Group Inc (NYSE:RDN) is a financial services company that provides mortgage insurance and related services to the residential real estate industry. Through its mortgage insurance subsidiaries, including Radian Guaranty Inc, the company helps lenders manage credit risk on residential mortgages, particularly loans made to borrowers with smaller down payments. Its insurance can also help borrowers obtain home financing without contributing a traditional 20% down payment.
Radian’s mortgage insurance business serves mortgage lenders, banks, credit unions and other housing finance participants primarily in the United States.