Radian Group Inc. (NYSE:RDN – Get Rating) announced a quarterly dividend on Wednesday August 10, reports RTT News. Shareholders of record on Monday, August 22 will receive a dividend of 0.20 per share from the insurer on Thursday, September 1. This represents a dividend of $0.80 on an annualized basis and a dividend yield of 3.43%. The ex-date of this dividend is Friday, August 19.
Radian Group has increased its dividend payout by an average of 279.1% per year over the past three years and has increased its dividend every year for the past 3 years. Radian Group has a dividend payout ratio of 25.0%, which means its dividend is sufficiently covered by earnings. Research analysts expect Radian Group to earn $3.00 per share next year, meaning the company should continue to be able to cover its annual dividend of $0.80 with a ratio of expected future payout of 26.7%.
Radian Group Price Performance
Shares of Radian Group opened at $23.32 on Thursday. The company’s 50-day simple moving average is $20.87 and its 200-day simple moving average is $21.83. The company has a market cap of $3.77 billion, a price-to-earnings ratio of 5.98, a growth price-to-earnings ratio of 1.12, and a beta of 1.22. Radian Group has a 1-year low of $17.97 and a 1-year high of $24.84. The company has a debt ratio of 0.41, a quick ratio of 1.01 and a current ratio of 1.01.
Radian Group (NYSE:RDN – Get Rating) last released its quarterly results on Monday, August 1. The insurance provider reported earnings per share (EPS) of $1.36 for the quarter, beating consensus analyst estimates of $0.76 by $0.60. The company posted revenue of $286.83 million for the quarter, versus a consensus estimate of $323.39 million. Radian Group achieved a net margin of 56.45% and a return on equity of 19.83%. The company’s revenue was down 14.9% year over year. During the same period of the previous year, the company achieved EPS of $0.75. As a group, equity research analysts expect Radian Group to post earnings per share of 4.18 for the current year.
Changes to analyst ratings
A number of equity research analysts have recently released reports on the stock. Compass Point cut its price target on shares of Radian Group to $28.00 in a Tuesday, August 9 research note. BTIG Research lowered its price target on shares of Radian Group from $27.00 to $26.00 and set a “buy” rating for the company in a Friday, July 8 report. Bank of America upgraded shares of Radian Group from an “underperforming” rating to a “neutral” rating in a report on Thursday. StockNews.com upgraded Radian Group’s shares from a “buy” rating to a “hold” rating in a Monday, July 18 report. Finally, Keefe, Bruyette & Woods reduced shares of Radian Group from an “outperform” rating to a “market perform” rating and lowered their price target for the company from $28.00 to $27.00. $ in a Monday, July 18 report. Four investment analysts gave the stock a hold rating and two gave the company a buy rating. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $27.64.
Insiders place their bets
In other Radian Group news, Executive Vice President Edward J. Hoffman sold 10,000 shares of the company in a trade that took place on Monday, June 6. The shares were sold at an average price of $21.33, for a total transaction of $213,300.00. Following the completion of the transaction, the executive vice president now owns 128,534 shares of the company, valued at approximately $2,741,630.22. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 1.42% of the shares are currently held by insiders of the company.
Institutional entries and exits
Several institutional investors and hedge funds have recently increased or reduced their stake in RDN. Captrust Financial Advisors increased its stake in Radian Group shares by 49.8% in the 2nd quarter. Captrust Financial Advisors now owns 4,441 shares of the insurance provider valued at $87,000 after buying an additional 1,476 shares last quarter. Covestor Ltd increased its stake in Radian Group shares by 85.3% in Q1. Covestor Ltd now owns 7,357 shares of the insurance provider valued at $163,000 after buying an additional 3,386 shares last quarter. Advisors Asset Management Inc. acquired a new position in shares of Radian Group in Q1 worth $206,000. PDT Partners LLC acquired a new position in shares of Radian Group in Q1 worth $400,000. Finally, Prudential PLC acquired a new position in Radian Group shares in Q1 worth $409,000. Institutional investors and hedge funds own 95.48% of the company’s shares.
About Radian Group
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Radian Group Inc, together with its subsidiaries, is engaged in the mortgage and real estate services business in the United States. Its Mortgage segment provides credit-related insurance coverage primarily through private mortgage insurance on first-rank residential mortgages, as well as other credit risk management, contract underwriting and insurance solutions. ‘execution.
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