Radian Group Stock Price, News & Analysis

Elizabeth Park Capital Management (EPCM) has appointed J. Franklin Hall as partner and deputy portfolio manager. Hall, a financial services veteran, brings significant industry experience to the buyside investment platform. Prior to joining EPCM, Hall served as CFO at Radian Group (NYSE: RDN), where he successfully transformed the company's capital structure, leading to investment-grade credit ratings. His previous roles include COO and CFO positions at First Financial Bancorp (Nasdaq: FFBC), where he guided the firm through the 2008 Global Financial Crisis and managed several transformative acquisitions.

Hall's appointment is expected to strengthen EPCM's investment strategies and operations, leveraging his extensive experience in operational excellence and financial leadership. His career began at Ernst & Young before moving to Firstar Bank (now U.S. Bank) in its credit card division.

Radian Group (NYSE: RDN) has announced that its Board of Directors has approved a regular quarterly dividend of $0.245 per share. The dividend will be paid on December 10, 2024, to shareholders who are recorded as stockholders as of November 25, 2024.

Radian Group Inc. (RDN) reported net income of $152 million, or $0.99 per diluted share, for Q3 2024. The company achieved a return on equity of 13.2% and grew book value per share by 18% year-over-year to $31.37. Key highlights include $13.5 billion in New Insurance Written and primary mortgage insurance in force reaching $274.7 billion. The company returned $86 million to stockholders through dividends and share repurchases, while reducing its holding company debt-to-capital ratio to 18.5% following retirement of $450 million senior notes. Radian maintains strong liquidity with $844 million available at the holding company and $2.1 billion in PMIERs excess Available Assets.

Radian Group Inc. (NYSE: RDN) has announced record-breaking results for its annual 'Opens Doors Opens Hearts' fundraising campaign, raising nearly $475,000 for the MBA Opens Doors Foundation. The campaign received over $158,000 in donations, exceeding its $100,000 goal, with Radian matching two dollars for every dollar raised. The funds will support the Foundation's Home Grant Program, which provides up to $2,000 monthly in mortgage and rental assistance to families with critically ill or injured children. Since 2011, the Foundation has provided over $25 million in assistance through nearly 17,000 grants.

Radian Group Inc. (NYSE: RDN) has announced its upcoming third quarter 2024 earnings conference call. The call is scheduled for Thursday, November 7, 2024, at 10:00 a.m. Eastern time. The company will release its Q3 2024 results after market close on Wednesday, November 6, 2024.

Investors and interested parties can access the live webcast on Radian's website at https://radian.com/who-we-are/for-investors/webcasts or www.radian.com. The webcast is listen-only, but those wishing to participate in the Q&A session should follow the provided dial-in instructions.

A digital replay of the webcast will be available on Radian's website for one year after the live broadcast. Additional statistical and financial information expected to be discussed during the call will also be available on the company's website.

Radian Guaranty Inc., a subsidiary of Radian Group Inc. (NYSE: RDN), announced that recent updates to the Private Mortgage Insurer Eligibility Requirements (PMIERs) are not expected to materially impact its capital position or PMIERs cushion. The updates, issued by Fannie Mae and Freddie Mac, refine standards for Available Assets but are anticipated to have minimal effect on Radian Guaranty's operations.

Key points:

• PMIERs Updates will be phased in over two years, starting March 31, 2025
• Radian Guaranty's Available Assets totaled ~$6.0 billion as of June 30, 2024
• Expected reduction in Available Assets is less than 0.3% (~$20 million) by March 31, 2025
• Changes to COVID-19 forbearance treatment may increase Minimum Required Assets by less than $10 million

Radian Group Inc. (NYSE: RDN) has announced a regular quarterly dividend on its common stock. The company's Board of Directors has approved a dividend of $0.245 per share, which will be payable on September 11, 2024. Stockholders of record as of August 26, 2024, will be eligible to receive this dividend. This announcement demonstrates Radian's commitment to returning value to its shareholders through consistent dividend payments.

Radian Group (NYSE: RDN) reported its Q2 2024 financial results, showcasing a net income of $152 million or $0.98 per diluted share, up from $146 million or $0.91 in Q2 2023. The company achieved a return on equity of 13.6% and a 12% year-over-year growth in book value per share to $29.66.

Revenue for the quarter increased to $321 million from $290 million in Q2 2023. Net premiums earned in mortgage insurance rose to $235 million, and new insurance written was $13.9 billion. The provision for losses was a benefit of $2 million, down from $22 million in Q2 2023.

Radian increased its share repurchase authorization to $900 million, with $667 million remaining. The company repurchased $50 million of shares in Q2 2024. Additionally, Radian Guaranty paid a $200 million dividend to Radian Group, boosting available holding company liquidity to $1.2 billion.

Notably, Radian Mortgage Capital completed a $348.9 million securitization in July 2024, further solidifying its financial position.

Radian Group Inc. (NYSE: RDN) has announced the successful closure of its inaugural prime jumbo securitization through its mortgage conduit, Radian Mortgage Capital (RMC). The securitization, named Radian Mortgage Capital 2024-J1, comprises $348.9 million of residential real estate loans, consisting of 359 30-year, fixed-rate fully amortizing mortgages.

The mortgage pass-through certificates were offered to eligible third-party capital markets investors in an unregistered private offering, with RMC retaining an interest in the certificates at closing. This move aligns with Radian's strategy to expand its participation in the mortgage market by aggregating, managing, and distributing residential mortgage credit risk.

CEO Rick Thornberry emphasized that this transaction leverages Radian's expertise to provide additional secondary market options for lenders and investors, positioning RMC as a full-service correspondent lender.