Radian Group (NYSE:RDN) announced that its Board of Directors has authorized a share buyback program, which allows the company to buyback $100.00 million in outstanding shares on Thursday, August 16th. This buyback authorization allows the insurance provider to reacquire up to 2.4% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board believes its shares are undervalued.
Radian Group stock opened at $20.04 on Tuesday. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.48 and a current ratio of 1.48. Radian Group has a 12 month low of $14.06 and a 12 month high of $23.49. The company has a market capitalization of $4.25 billion, a price-to-earnings ratio of 11.01, a P/E/G ratio of 1.57 and a beta of 1.47.
Radian Group (NYSE:RDN) last released its quarterly earnings data on Thursday, July 26th. The insurance provider reported $0.69 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.60 by $0.09. Radian Group had a return on equity of 16.10% and a net margin of 31.87%. The business had revenue of $319.30 million for the quarter, compared to analyst estimates of $320.34 million. During the same quarter in the prior year, the firm posted $0.48 EPS. The business’s quarterly revenue was up 5.4% compared to the same quarter last year. sell-side analysts expect that Radian Group will post 2.54 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 7th. Stockholders of record on Monday, August 27th will be paid a dividend of $0.0025 per share. This represents a $0.01 annualized dividend and a dividend yield of 0.05%. The ex-dividend date of this dividend is Friday, August 24th. Radian Group’s payout ratio is 0.55%.
RDN has been the topic of a number of research analyst reports. ValuEngine lowered Radian Group from a “hold” rating to a “sell” rating in a research note on Monday, June 4th. Bank of America upped their target price on Radian Group from $13.00 to $23.00 and gave the company a “buy” rating in a research report on Monday, August 13th. Compass Point dropped their target price on Radian Group from $24.25 to $23.25 and set a “buy” rating on the stock in a research report on Friday, April 27th. Zacks Investment Research lowered Radian Group from a “hold” rating to a “sell” rating in a research report on Wednesday, June 27th. Finally, Royal Bank of Canada restated a “hold” rating and issued a $21.00 price objective on shares of Radian Group in a research report on Friday, July 27th. Five analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Radian Group presently has a consensus rating of “Buy” and an average price target of $23.11.
Radian Group Company Profile
Radian Group Inc, through its subsidiaries, provides mortgage and real estate products and services in the United States. It operates through two segments, Mortgage Insurance and Services. The Mortgage Insurance segment offers credit-related insurance coverage, primarily through private mortgage insurance, as well as other credit risk management solutions to mortgage lending institutions; and primary mortgage insurance coverage on residential first-lien mortgage loans.
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