Richard G. Thornberry, the Chief Executive Officer of Radian Group Inc . (NYSE:RDN), has sold 20,000 shares of the company's common stock. The transaction, which took place on December 17, was executed at an average price of $33.2315 per share, amounting to a total value of approximately $664,629. According to InvestingPro data, the stock is currently trading near its Fair Value, with a solid financial health rating of "GOOD."
This sale was conducted under a pre-arranged 10b5-1 trading plan that Thornberry entered into in August 2024. Following this transaction, Thornberry retains ownership of 889,452 shares of Radian Group's stock. The company has maintained dividend payments for 32 consecutive years and boasts a current dividend yield of 3.09%. InvestingPro subscribers can access 6 additional key insights about Radian Group's financial performance and outlook.
In other recent news, Radian Group has reported strong Q3 results, with revenues of $334 million and net income of $152 million. The company's book value per share saw an 18% year-over-year increase, reaching $31.37, while its primary mortgage insurance grew to $275 billion. The company has also expanded its credit facility from $125 million to $300 million, providing additional financial flexibility. This expansion is part of Radian's ongoing efforts to manage its capital and assets effectively. These recent developments demonstrate Radian Group's commitment to operational efficiency and shareholder value. Radian Group anticipates the mortgage insurance market to remain stable at around $300 billion for 2024, with a projected 10% increase in 2025. The company plans to leverage market opportunities through its Mortgage Conduit business, Radian Mortgage Capital, and expects a significant reduction in operating expenses for the full year 2025.
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