Radian Group (NYSE:RDN) Given New $40.00 Price Target at Keefe, Bruyette & Woods

Radian Group (NYSE:RDN) had its target price cut by stock analysts at Keefe, Bruyette & Woods from $41.00 to $40.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage currently has an “outperform” rating on the insurance provider’s stock. Keefe, Bruyette & Woods’ target price points to a potential upside of 26.70% from the stock’s current price.

Separately, Barclays increased their price target on Radian Group from $32.00 to $33.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 8th. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $36.30.

Radian Group Stock Performance

Shares of RDN traded down $0.16 during mid-day trading on Wednesday, hitting $31.57. The stock had a trading volume of 270,180 shares, compared to its average volume of 994,573. Radian Group has a fifty-two week low of $26.11 and a fifty-two week high of $37.86. The company’s fifty day simple moving average is $33.54 and its two-hundred day simple moving average is $34.08. The company has a quick ratio of 2.01, a current ratio of 2.01 and a debt-to-equity ratio of 0.42. The company has a market cap of $4.70 billion, a PE ratio of 8.18, a PEG ratio of 1.69 and a beta of 1.06.

Radian Group (NYSE:RDN) last announced its quarterly earnings results on Wednesday, November 6th. The insurance provider reported $1.03 EPS for the quarter, beating the consensus estimate of $0.88 by $0.15. Radian Group had a net margin of 45.96% and a return on equity of 13.81%. The company had revenue of $319.05 million for the quarter, compared to analyst estimates of $320.30 million. On average, equities analysts expect that Radian Group will post 4 earnings per share for the current year.

Insider Activity

In other Radian Group news, insider Derek Brummer sold 14,705 shares of the stock in a transaction that occurred on Thursday, December 5th. The shares were sold at an average price of $34.65, for a total value of $509,528.25. Following the completion of the sale, the insider now owns 171,830 shares in the company, valued at $5,953,909.50. This represents a 7.88 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 2.16% of the company’s stock.

Institutional Trading of Radian Group

Institutional investors have recently added to or reduced their stakes in the business. Centiva Capital LP acquired a new stake in shares of Radian Group in the third quarter worth $512,000. Public Sector Pension Investment Board raised its position in Radian Group by 5.5% in the 2nd quarter. Public Sector Pension Investment Board now owns 331,341 shares of the insurance provider’s stock worth $10,305,000 after purchasing an additional 17,367 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in Radian Group by 2.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 5,845,740 shares of the insurance provider’s stock valued at $202,789,000 after buying an additional 121,166 shares during the period. Moran Wealth Management LLC bought a new position in Radian Group during the 3rd quarter worth approximately $2,650,000. Finally, Vest Financial LLC grew its position in shares of Radian Group by 27.4% in the 2nd quarter. Vest Financial LLC now owns 746,664 shares of the insurance provider’s stock valued at $23,221,000 after purchasing an additional 160,778 shares during the period. 95.33% of the stock is currently 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.