Radian Group Inc. (NYSE:RDN) issued its earnings results on Thursday. The insurance provider reported $0.46 earnings per share for the quarter, beating analysts’ consensus estimates of $0.42 by $0.04, Bloomberg Earnings reports. The company had revenue of $312.05 million for the quarter, compared to the consensus estimate of $321.10 million. Radian Group had a return on equity of 12.81% and a net margin of 16.26%. The firm’s quarterly revenue was down 2.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.41 EPS.
Shares of Radian Group (NYSE:RDN) traded up 2.22% during midday trading on Thursday, reaching $20.74. The company’s stock had a trading volume of 1,492,991 shares. Radian Group has a 12 month low of $12.96 and a 12 month high of $21.09. The firm has a market cap of $4.46 billion, a price-to-earnings ratio of 23.81 and a beta of 1.51. The company has a 50-day moving average price of $18.44 and a 200-day moving average price of $17.48.
Radian Group announced that its Board of Directors has initiated a share repurchase program on Wednesday, August 9th that authorizes the company to buyback $50.00 million in shares. This buyback authorization authorizes the insurance provider to reacquire up to 1.3% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s leadership believes its shares are undervalued.
In related news, CEO Richard G. Thornberry purchased 15,000 shares of the stock in a transaction on Friday, August 18th. The shares were purchased at an average price of $16.78 per share, with a total value of $251,700.00. Following the transaction, the chief executive officer now directly owns 15,000 shares of the company’s stock, valued at $251,700. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Richard G. Thornberry purchased 5,000 shares of the stock in a transaction on Monday, August 21st. The shares were bought at an average cost of $16.54 per share, for a total transaction of $82,700.00. Following the transaction, the chief executive officer now directly owns 20,000 shares in the company, valued at $330,800. The disclosure for this purchase can be found here. 1.06% of the stock is owned by insiders.
A number of equities analysts have recently weighed in on RDN shares. ValuEngine downgraded Radian Group from a “strong-buy” rating to a “buy” rating in a report on Thursday, September 7th. Zacks Investment Research cut Radian Group from a “buy” rating to a “hold” rating in a research note on Monday. Susquehanna Bancshares Inc set a $22.00 price target on Radian Group and gave the company a “buy” rating in a research note on Monday, October 16th. Barclays PLC reissued an “overweight” rating and issued a $24.00 price target (down previously from $25.00) on shares of Radian Group in a research note on Wednesday, August 2nd. Finally, Compass Point reissued a “neutral” rating and issued a $21.25 price target on shares of Radian Group in a research note on Saturday, October 14th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Radian Group has an average rating of “Buy” and a consensus target price of $22.16.
Radian Group Company Profile
Radian Group Inc is an insurance holding company that provides mortgage insurance, and products and services to the real estate and mortgage finance industries. The Company operates in two segments: Mortgage Insurance and Services. The Mortgage Insurance segment provides credit-related insurance coverage, principally through private mortgage insurance to mortgage lending institutions.