Radian Group (NYSE:RDN) Stock Price Down 5.8% - Here's What Happened

Radian Group Inc. (NYSE:RDN - Get Free Report)'s stock price traded down 5.8% during mid-day trading on Friday . The stock traded as low as $32.80 and last traded at $32.87. 240,885 shares traded hands during trading, a decline of 76% from the average session volume of 1,022,491 shares. The stock had previously closed at $34.91.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on RDN. Barclays upped their target price on Radian Group from $32.00 to $33.00 and gave the company an "equal weight" rating in a research note on Tuesday, October 8th. Royal Bank of Canada upped their price target on Radian Group from $32.00 to $37.00 and gave the stock a "sector perform" rating in a research note on Friday, August 2nd. Keefe, Bruyette & Woods lifted their target price on shares of Radian Group from $36.00 to $39.00 and gave the company an "outperform" rating in a report on Monday, August 5th. Finally, Roth Mkm increased their price objective on shares of Radian Group from $35.00 to $40.00 and gave the company a "buy" rating in a research report on Friday, August 2nd. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of "Hold" and an average target price of $36.10.

Radian Group Trading Down 9.3 %

The firm has a market capitalization of $4.77 billion, a price-to-earnings ratio of 8.48, a price-to-earnings-growth ratio of 1.88 and a beta of 1.05. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 0.45. The firm's 50 day moving average is $34.94 and its 200 day moving average is $33.12.

Radian Group (NYSE:RDN - Get Free Report) last announced its quarterly earnings data on Wednesday, July 31st. The insurance provider reported $0.99 EPS for the quarter, topping analysts' consensus estimates of $0.87 by $0.12. Radian Group had a return on equity of 14.43% and a net margin of 47.05%. The firm had revenue of $312.37 million during the quarter, compared to analyst estimates of $324.00 million. Equities analysts forecast that Radian Group Inc. will post 3.75 earnings per share for the current year.

Radian Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 11th. Investors of record on Monday, August 26th were issued a $0.245 dividend. The ex-dividend date was Monday, August 26th. This represents a $0.98 annualized dividend and a yield of 3.09%. Radian Group's dividend payout ratio (DPR) is currently 25.45%.

Insider Buying and Selling

In related news, CFO Sumita Pandit sold 3,817 shares of the firm's stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $34.23, for a total value of $130,655.91. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, insider Derek Brummer sold 35,153 shares of the firm's stock in a transaction that occurred on Thursday, September 5th. The stock was sold at an average price of $35.36, for a total transaction of $1,243,010.08. Following the completion of the transaction, the insider now owns 186,535 shares in the company, valued at $6,595,877.60. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Sumita Pandit sold 3,817 shares of the firm's stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $34.23, for a total transaction of $130,655.91. The disclosure for this sale can be found here. Insiders have sold 119,772 shares of company stock worth $4,260,796 in the last quarter. 2.16% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Radian Group

Hedge funds and other institutional investors have recently made changes to their positions in the company. QRG Capital Management Inc. increased its position in shares of Radian Group by 1.1% during the 3rd quarter. QRG Capital Management Inc. now owns 31,392 shares of the insurance provider's stock worth $1,089,000 after purchasing an additional 339 shares during the last quarter. Forum Financial Management LP bought a new position in Radian Group during the third quarter worth about $201,000. Van ECK Associates Corp boosted its stake in shares of Radian Group by 40.0% in the third quarter. Van ECK Associates Corp now owns 87,071 shares of the insurance provider's stock valued at $2,986,000 after buying an additional 24,880 shares during the period. Harbor Capital Advisors Inc. grew its holdings in shares of Radian Group by 1.3% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 45,701 shares of the insurance provider's stock worth $1,585,000 after purchasing an additional 589 shares in the last quarter. Finally, Farther Finance Advisors LLC raised its position in shares of Radian Group by 1,767.2% in the 3rd quarter. Farther Finance Advisors LLC now owns 12,977 shares of the insurance provider's stock valued at $450,000 after buying an additional 12,282 shares in the last quarter. 95.33% of the stock is owned by institutional investors.

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.