The Vanguard Group, Inc. recently announced the acquisition of new stake in Radian Group Inc. (NYSE:RDN). The institutional investor has increased its shareholding in the Financial company by 5.68% to 20.5 million shares with purchase of 1.1 million shares. This fresh investment now brings its stake to 13.04% valued currently at $497.62 million. In addition, BlackRock Fund Advisors raised its holdings by 2.34 million to 13.6 million shares. And JPMorgan Securities LLC has lifted its position by 65,619.31% or 10.8 million shares – to 10.81 million shares.
With over 1.37 million Radian Group Inc. (RDN) shares trading Monday and a closing price of $25.47 on the day, the dollar volume was approximately $34.88 million. The shares have shown a positive half year performance of 33.84% and its price on 05/22/23 lost nearly -1.09%. Currently, there are 158.30M common shares owned by the public and among those 155.65M shares have been available to trade.
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An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 9 analysts who have offered their price forecasts for RDN have a consensus price objective of $25.79. The analysts have set the share’s price value over the next 12 months at a high of $30.00 and a low of $21.00. The average price target is 1.24% above its recent price level and a downside to the estimated low will see the stock lose -21.29% over that period. But an upside of 15.1% will see the stock hit the forecast high price target while median target price for the stock is $26.00.
Insiders at the company have transacted a total of 10 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 2 of these insider trades were purchases, accounting for 23,120 shares. Insider sales of the common stock occurred on 8 occasions, with total insider shares sold totaling 131,413 shares.
The top 3 mutual fund holders in Radian Group Inc. are Vanguard Total Stock Market ETF, Vanguard Small Cap Index Fund, and T Rowe Price Small Cap Value Fund. Vanguard Total Stock Market ETF owns 4.88 million shares of the company’s stock, all valued at over $118.53 million. The company bought an additional 0.14 million shares recently to bring their total holdings to about 3.11% of the shares outstanding. Vanguard Small Cap Index Fund bought 17254.0 shares to see its total holdings expand to 4.11 million shares valued at over $99.75 million and representing 2.62% of the shares outstanding. T Rowe Price Small Cap Value Fund bought 0.25 million shares to bring its total holdings to over 3.89 million shares at a value of $94.42 million. T Rowe Price Small Cap Value Fund now owns shares totaling to 2.48% of the shares outstanding.
Shares of Radian Group Inc. (NYSE: RDN) opened at $25.83, up $0.08 from a prior closing price of $25.75. However, the script later moved the day high at 25.93, down -1.09%. The company’s stock has a 5-day price change of 1.72% and 17.48% over the past three months. RDN shares are trading 33.56% year to date (YTD), with the 12-month market performance up to 20.65% higher. It has a 12-month low price of $17.83 and touched a high of $26.06 over the same period. RDN has an average intraday trading volume of 2.36 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 4.05%, 10.86%, and 20.32% respectively.
Institutional ownership of Radian Group Inc. (NYSE: RDN) shares accounts for 99.00% of the company’s 158.30M shares outstanding. Mutual fund holders own 40.43%, while other institutional holders and individual stakeholders account for 63.89% and 2.15% respectively.
It has a market capitalization of $4.00B and a beta (3y monthly) value of 1.13. The stock’s trailing 12-month PE ratio is 5.88, while the earnings-per-share (ttm) stands at $4.33. The company has a PEG of 2.85 and the debt-to-equity ratio at 0.37. Price movements for the stock have been influenced by the stock’s volatility, which stands at 2.10% over the week and 2.35% over the month.
Analysts forecast that Radian Group Inc. (RDN) will achieve an EPS of $0.76 for the current quarter, $0.75 for the next quarter and $3.15 for 2024. The lowest estimate earnings-per-share for the quarter is $0.74 while analysts give the company a high EPS estimate of $0.79. Comparatively, EPS for the current quarter was $1.36 a year ago. Earnings per share for the fiscal year are expected to increase by 37.90%, and -1.22% over the next financial year. EPS should shrink at an annualized rate of 2.06% over the next five years, compared to 33.80% over the past 5-year period.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 9 brokerage firm advisors rate Radian Group Inc. (RDN) as a “Moderate Buy” at a consensus score of 2.70. Specifically, 2 Wall Street analysts polled rate the stock as a buy, while 6 of the 9 advise that investors “hold,” and 0 rated it as a “Sell.”
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