Price Action To Observe: Radian Group Inc Surges to 52-Week High, Is Now Top Performer

Price Action To Observe: Radian Group Inc Surges to 52 Week High, Is Now Top Performer

The stock of Radian Group Inc (NYSE:RDN) hit a new 52-week high and has $15.92 target or 7.00% above today’s $14.88 share price. The 7 months bullish chart indicates low risk for the $3.19B company. The 1-year high was reported on Nov, 29 by Barchart.com. If the $15.92 price target is reached, the company will be worth $223.30M more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 2.79 million shares traded hands. Radian Group Inc (NYSE:RDN) has risen 16.13% since April 26, 2016 and is uptrending. It has outperformed by 10.87% the S&P500.

Analysts await Radian Group Inc (NYSE:RDN) to report earnings on January, 26. They expect $0.40 earnings per share, up 17.65% or $0.06 from last year’s $0.34 per share. RDN’s profit will be $85.75 million for 9.30 P/E if the $0.40 EPS becomes a reality. After $0.41 actual earnings per share reported by Radian Group Inc for the previous quarter, Wall Street now forecasts -2.44% negative EPS growth.

Radian Group Inc (NYSE:RDN) Ratings Coverage

Out of 7 analysts covering Radian Group (NYSE:RDN), 4 rate it a “Buy”, 0 “Sell”, while 3 “Hold”. This means 57% are positive. Radian Group has been the topic of 19 analyst reports since August 31, 2015 according to StockzIntelligence Inc. Credit Suisse maintained it with “Neutral” rating and $14.50 target price in Monday, May 2 report. The rating was initiated by Bank of America on Monday, October 17 with “Buy”. Macquarie Research maintained Radian Group Inc (NYSE:RDN) on Wednesday, October 28 with “Outperform” rating. The rating was maintained by Compass Point on Friday, January 29 with “Buy”. The stock has “Mkt Perform” rating given by FBR Capital on Monday, November 2. FBR Capital maintained Radian Group Inc (NYSE:RDN) rating on Friday, July 29. FBR Capital has “Outperform” rating and $16 price target. The firm has “Buy” rating by Compass Point given on Wednesday, October 28. The rating was downgraded by Macquarie Research to “Neutral” on Wednesday, January 20. The rating was upgraded by FBR Capital to “Outperform” on Thursday, June 30. The firm has “Buy” rating given on Monday, August 31 by M Partners.

According to Zacks Investment Research, “Radian Group Inc. is the parent company of Radian Guaranty Inc. The company provides private mortgage insurance and risk management services to mortgage lenders nationwide; these services increase homeownership opportunities by helping people to buy homes with down payments of less than 20 percent. Private mortgage insurance protects lenders from default-related losses on residential first mortgages and facilitates the sale of low-down-payment mortgage loans in the secondary market. (PRESS RELEASE)”

Insitutional Activity: The institutional sentiment increased to 1.53 in Q2 2016. Its up 0.04, from 1.49 in 2016Q1. The ratio improved, as 22 funds sold all Radian Group Inc shares owned while 55 reduced positions. 31 funds bought stakes while 84 increased positions. They now own 195.94 million shares or 1.34% less from 198.59 million shares in 2016Q1.
Bank Of New York Mellon accumulated 2.03 million shares or 0.01% of the stock. Jpmorgan Chase has 0% invested in the company for 500 shares. Ameriprise Financial owns 2.20 million shares or 0.01% of their US portfolio. Creative Planning has invested 0% of its portfolio in Radian Group Inc (NYSE:RDN). Principal Financial Grp Inc has 0% invested in the company for 28,781 shares. Blackrock Fund Advsrs reported 5.37M shares or 0.01% of all its holdings. Concert Wealth Management Inc last reported 27,876 shares in the company. Amp Limited has 43,100 shares for 0% of their US portfolio. Parametric Lc last reported 0.01% of its portfolio in the stock. Zurcher Kantonalbank (Zurich Cantonalbank) last reported 0% of its portfolio in the stock. Returns Mgmt Limited Liability Company last reported 1.69M shares in the company. Moreover, Wfg Advisors Ltd Partnership has 0% invested in Radian Group Inc (NYSE:RDN) for 2 shares. Morgan Stanley has 2.04 million shares for 0.01% of their US portfolio. Parkside Finance Savings Bank & Tru has 0.01% invested in the company for 2,351 shares. Ameritas Prtnrs last reported 16,784 shares in the company.

Insider Transactions: Since August 10, 2016, the stock had 1 insider purchase, and 0 insider sales for $205,970 net activity. 16,000 Radian Group Inc (NYSE:RDN) shares with value of $205,970 were bought by Brummer Derek.

More recent Radian Group Inc (NYSE:RDN) news were published by: Forbes.com which released: “Ex-Dividend Reminder: AmerisourceBergen, Radian Group and Symantec” on November 15, 2016. Also Reuters.com published the news titled: “BRIEF-Radian Group Inc says providing certain terms for potential future r…” on November 18, 2016. Nasdaq.com‘s news article titled: “Radian Group Inc. (RDN) Ex-Dividend Date Scheduled for November 17, 2016” with publication date: November 16, 2016 was also an interesting one.

RDN Company Profile

Radian Group Inc., incorporated on December 6, 1991, is a holding firm that provides mortgage insurance, and services and products to the real estate and mortgage finance industries. The Firm operates in two business divisions: Mortgage Insurance and Services. The Company’s clients include mortgage bankers, mortgage brokers, commercial banks, savings institutions, credit unions and community banks.

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