Short Interest in Radian Group Inc. (NYSE:RDN) Drops By 33.5%
by Jessica Moore · The Cerbat GemRadian Group Inc. (NYSE:RDN – Get Free Report) was the target of a large decrease in short interest during the month of March. As of March 31st, there was short interest totaling 4,354,988 shares, a decrease of 33.5% from the March 15th total of 6,546,144 shares. Currently, 3.3% of the shares of the company are sold short. Based on an average trading volume of 1,892,281 shares, the short-interest ratio is currently 2.3 days.
Wall Street Analysts Forecast Growth
Several research firms have recently commented on RDN. Roth Mkm reaffirmed a “buy” rating and issued a $45.00 price objective on shares of Radian Group in a report on Friday, January 2nd. Weiss Ratings downgraded shares of Radian Group from a “buy (a-)” rating to a “buy (b+)” rating in a report on Tuesday, January 13th. Zacks Research raised shares of Radian Group from a “hold” rating to a “strong-buy” rating in a report on Friday, February 20th. Barclays lowered their price target on shares of Radian Group from $40.00 to $37.00 and set an “equal weight” rating on the stock in a report on Monday, April 6th. Finally, UBS Group lowered their price target on shares of Radian Group from $41.00 to $39.00 and set a “neutral” rating on the stock in a report on Thursday, March 12th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $40.20.
Read Our Latest Stock Analysis on Radian Group
Insider Activity at Radian Group
In other news, EVP Edward J. Hoffman sold 1,991 shares of the company’s stock in a transaction on Friday, April 10th. The shares were sold at an average price of $35.00, for a total value of $69,685.00. Following the sale, the executive vice president directly owned 151,717 shares of the company’s stock, valued at $5,310,095. This represents a 1.30% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 2.03% of the stock is owned by company insiders.
Hedge Funds Weigh In On Radian Group
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Summit Global Investments acquired a new stake in shares of Radian Group in the third quarter valued at about $1,213,000. Campbell & CO Investment Adviser LLC increased its position in Radian Group by 187.3% during the third quarter. Campbell & CO Investment Adviser LLC now owns 47,337 shares of the insurance provider’s stock worth $1,715,000 after purchasing an additional 30,862 shares during the last quarter. Compass Rose Asset Management LP acquired a new stake in Radian Group during the third quarter worth about $9,960,000. Alps Advisors Inc. increased its position in Radian Group by 57.3% during the third quarter. Alps Advisors Inc. now owns 571,588 shares of the insurance provider’s stock worth $20,703,000 after purchasing an additional 208,181 shares during the last quarter. Finally, American Century Companies Inc. increased its position in Radian Group by 4.4% during the third quarter. American Century Companies Inc. now owns 4,019,483 shares of the insurance provider’s stock worth $145,586,000 after purchasing an additional 171,049 shares during the last quarter. 95.33% of the stock is owned by hedge funds and other institutional investors.
Radian Group Stock Performance
NYSE RDN traded up $0.23 during mid-day trading on Tuesday, reaching $34.65. 939,999 shares of the stock were exchanged, compared to its average volume of 1,490,654. The business’s 50 day moving average is $33.57 and its 200-day moving average is $34.30. Radian Group has a 1 year low of $29.32 and a 1 year high of $38.84. The company has a market capitalization of $4.67 billion, a P/E ratio of 8.35, a P/E/G ratio of 1.86 and a beta of 0.77. The company has a debt-to-equity ratio of 0.23, a quick ratio of 3.40 and a current ratio of 3.40.
Radian Group (NYSE:RDN – Get Free Report) last announced its quarterly earnings results on Thursday, February 19th. The insurance provider reported $1.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.11 by $0.05. Radian Group had a net margin of 46.99% and a return on equity of 13.07%. The firm had revenue of $300.51 million for the quarter, compared to the consensus estimate of $300.45 million. During the same period in the prior year, the firm posted $1.09 earnings per share. The firm’s quarterly revenue was up 2.7% compared to the same quarter last year. On average, equities research analysts forecast that Radian Group will post 3.79 EPS for the current fiscal year.
Radian Group Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 10th. Shareholders of record on Monday, February 23rd were issued a dividend of $0.255 per share. This represents a $1.02 annualized dividend and a yield of 2.9%. The ex-dividend date of this dividend was Monday, February 23rd. Radian Group’s dividend payout ratio (DPR) is presently 24.58%.
About Radian Group
Radian Group Inc (NYSE:RDN) is a leading provider of private mortgage insurance and related risk management solutions in the United States. Through its primary subsidiary, Radian Guaranty Inc, the company underwrites borrower-paid and lender-paid mortgage insurance that protects lenders and investors from potential losses arising from borrower defaults. Radian’s core business focuses on supporting residential mortgage originations and servicing by offering capital-efficient credit protection and credit risk transfer strategies.
Beyond mortgage insurance, Radian offers an array of real estate transaction services under its Radian Title division.