Radian Group Stock Price, News & Analysis

Radian Group Inc. (NYSE:RDN) announced that CEO Rick Thornberry has joined the Board of Directors of the Opens Doors Foundation, supporting families with critically ill children. Radian has a history of backing charitable initiatives, contributing $400,000 to partner with the Children’s Hospital of Philadelphia and raising significant funds through various campaigns. Thornberry aims to further Radian's commitment to homeownership and community support. The company encourages employee involvement in charity through its Corporate Citizenship Program, reinforcing its community commitment.

The Radian Home Price Index (HPI) indicates that U.S. home prices rose at an annualized rate of 17.1% from October to November 2021. The national median home price surpassed $300,000 for the first time, reaching $303,012, representing an increase of over $34,000 in 2021. However, appreciation rates have slowed since September's peak of 17.6%. Regional trends showed slower price growth across most U.S. states, with the South maintaining the highest appreciation rates. Despite these fluctuations, 2021 is set to record high sales activity.

Radian Group's October Home Price Index (HPI) data reveals a 17.3% annual rise, slightly down from September’s 17.6%. The median U.S. home price increased to $298,748, up over $30,000 since the start of 2021. Despite a slight slowdown in appreciation rates, the 12-month HPI growth reached a record 12.9%. Although the count of actively listed homes is at a historic low, closed sales in October remain strong, marking the second-highest monthly sales count. The South region leads in appreciation, with Idaho showing over 30% growth year-over-year.

Radian Group Inc. (NYSE: RDN) has announced a quarterly dividend of $0.14 per share, set to be paid on December 3, 2021, to shareholders on record as of November 22, 2021. This decision reflects the company's commitment to providing income to its shareholders while maintaining a strong position in the mortgage and real estate services industry. Radian aims to support homeownership through comprehensive financial products and services powered by technology and data.

Radian Group Inc. (NYSE: RDN) announced that its subsidiary, Radian Guaranty Inc., secured $484 million in fully collateralized excess of loss reinsurance from Eagle Re 2021-2 Ltd. This coverage pertains to mortgage insurance policies written predominantly from January 1, 2021 to July 31, 2021. Eagle Re, a Bermuda-based insurer, issued five classes of mortgage insurance-linked notes to fund this reinsurance, with ratings assigned by Moody’s and DBRS, Inc.

In September 2021, the Radian Home Price Index reported a 17.6% annualized increase in home prices, marking six consecutive months of record growth. The median national home price soared to $294,488, rising significantly since the pandemic began. While demand remains high, the number of homes for sale is at a 13-year low. The South and West regions experienced the highest appreciation rates at 20.4% and 18.3%, respectively. Radian's HPI, derived from over 70 million addresses, aims to provide a comprehensive view of the U.S. housing market.

Radian Group reported a net income of $126 million ($0.67 per diluted share) for Q3 2021, down from $135.1 million ($0.70 per share) in Q3 2020. New Insurance Written grew 23% quarter-over-quarter to $26.6 billion, while primary mortgage insurance in force increased to $241.6 billion. The book value per share rose 9% year-over-year to $23.48. Homegenius revenues surged 51% year-over-year, totaling $45.1 million. Share buybacks included 7.1 million shares for $158.3 million. The company's liquidity stood at $1 billion, evidencing solid financial health.

Radian Group Inc. (NYSE: RDN) has priced $484 million in mortgage insurance-linked notes (ILNs) through its subsidiary, Eagle Re 2021-2 Ltd. This 12.5-year issuance aims to provide fully collateralized excess of loss reinsurance protection for existing mortgage insurance policies. Coverage is set to begin at a 2.25% cumulative claim rate, rising to a 6.75% aggregate detachment level. The transaction is expected to close on November 9, 2021. The ILNs are unregistered and non-recourse to Radian Group and its affiliates.

Radian Group Inc. (NYSE: RDN) will host a conference call on November 3, 2021 at 11:00 a.m. Eastern time to discuss its third quarter 2021 results. The results will be announced following market close on November 2, 2021. Investors can access the live broadcast via Radian's website or by calling 800.447.0521 (U.S.) or 847.413.3238 (international) with passcode 50246248. A digital replay will be available for two weeks post-call.