Radian Group Stock Price, News & Analysis

Radian Group Inc. (NYSE: RDN) has appointed Fawad Ahmad to its Board of Directors. Ahmad, a technology leader and insurance executive, brings significant experience in digital transformation and analytics from his previous roles at State Farm, Staples, and eBay. His expertise is expected to enhance Radian's strategic initiatives in mortgage and real estate, positioning the company for digital advancement. Board Chairman Howard B. Culang and CEO Rick Thornberry emphasized the importance of Ahmad’s customer-focused technological insights to create shareholder value and address evolving market demands.

Radian Group Inc. (NYSE: RDN) reported a fourth-quarter net income of $162.3 million, or $1.01 per diluted share, a decrease from $193.4 million a year earlier. For 2022, net income reached $742.9 million, or $4.35 per diluted share, up from $600.7 million in 2021. The company’s return on equity for the year was 18.2%, with adjusted net operating return on equity at 20.3%. Radian also increased its primary mortgage insurance in force by 6.1% year-over-year to $261 billion and repurchased $400 million of shares in 2022. Plans for recurring dividends from Radian Guaranty are anticipated starting Q1 2023.

Radian Group (NYSE: RDN) announced it will begin paying recurring ordinary dividends for the first time since 2007, with projections between $300 and $400 million for 2023. This follows a series of capital actions completed by year-end 2022, including the novation of $276 million of Radian Reinsurance risk and the merger of Radian Reinsurance into Radian Guaranty, adding $325 million in statutory assets. The company also approved a new $300 million share repurchase program, enhancing shareholder value. A conference call is scheduled for February 9, 2023, to discuss these developments and fourth-quarter results.

Radian Group Inc. (NYSE:RDN) announced that its 2022 "Opens Doors Opens Hearts" fundraising campaign raised $154,580 for the MBA Opens Doors Foundation. Nearly 300 donors contributed over $77,000, surpassing the fundraising goal, with Radian matching all donations. The foundation supports families of critically ill children with mortgage and rental assistance, providing grants of up to $2,500. Since 2018, Radian's efforts have raised over $650,000 for the foundation, marking a 36% increase in donations from the previous year.

Radian Group Inc. (NYSE: RDN) has announced a quarterly dividend of $0.20 per share, payable on December 2, 2022, for stockholders of record as of November 21, 2022. The company focuses on promoting responsible homeownership through mortgage insurance and various real estate services. Radian leverages technology and data to enhance their operations, providing innovative solutions to manage risk in the mortgage sector.

Radian Group reported strong financial results for Q3 2022, with a net income of $198 million or $1.20 per diluted share, significantly up from $126.4 million or $0.67 per diluted share a year ago. Adjusted diluted net operating income was $1.31 per share. The return on equity rose to 20.7%, and total primary mortgage insurance in force increased 7.3% year-over-year to $259 billion. Radian repurchased 19.5 million shares, representing 11.1% of total shares outstanding, demonstrating effective capital management.

Radian Group Inc. (NYSE: RDN) announced that CEO Rick Thornberry has been named the 2022 MBA Opens Doors Community Champion by the MBA Opens Doors Foundation. This annual award honors those supporting its mission to provide housing stability to families with critically ill children. Radian has actively supported the Foundation, generating $171,000 in donations through its "Opens Doors, Opens Hearts" campaign last year, and will match contributions for this year's initiative, which runs until November 18. Thornberry joined the Foundation's Board in January 2022.

Radian Group Inc. (NYSE: RDN) will hold a conference call on November 3, 2022, at 12:00 p.m. Eastern time, to discuss its Q3 2022 results, which will be announced after market close on November 2, 2022. The call will be accessible via a live webcast on Radian's website or by phone after registering online. A digital replay will be available approximately two hours after the event and can be accessed for one year. For more information and financial details, visit Radian's investor page.

According to the homegenius Home Price Index, U.S. home prices rose by an annualized 12.0% in August, indicating a slowdown from previous months. This is the second consecutive month of declining appreciation rates following a peak of 18.8% in June 2022. The median home price now stands at $338,692, with homes appreciating by over $88,000 since March 2020. Despite this slowdown, homeowner equity remains high, and inventory levels are low, which may sustain above-average appreciation rates in certain regions.