Tuesday, May 1, 2001, 2:00 EST
Radian Group has announced a 2-for-1 split
During regular trading today, Radian Group, Inc. (NYSE:RDN) announced a two-for-one stock split on its common stock. Radian also stated that they are increasing stock dividends to $0.02 cents per share. These events were first made public at the Company's Board of Directors meeting, earlier this morning.
RDN currently has approximately 46.4 million shares outstanding, 41.8 million shares in the float, and 80.0 million shares authorized for issuance to the public. Radian will be voting to increase its authorized shares to accommodate the split in the near future and it is expected that the payable date will be determined at that time.
This is Radian's second split in five years and it arrives in the wake of positive earnings released on April 25. Radian's overall earnings were up 37% to 80.20 million; net income per share was also up 25% to $1.91, beating Thompson/First Call figures of $1.69.
Radian group was recently upgraded by Goldman Sachs and added to Sach's "recommended buy" listing with a target price of $90-$95. Radian is also receiving favorable reviews from gurus such as the Motley Fool and Peter Lynch.
RDN shares are currently up $0.16 to $77.66 in recent mid-day trading. The 52-week range for RDN shares is $49.63 to $77.50.
Radian Group, Inc. is currently a Splittrader.com candidate and analysts will be monitoring trading for any lucrative play opportunities for the duration of the split run. Please check back for updates.
About the Company:
Radian Group Inc. is the parent company of Radian Guaranty Inc., Enhance Reinsurance Company, Asset Guaranty Insurance Company and ExpressClose.com. The company's products and services enable homebuyers to purchase homes more quickly and with smaller downpayments; protect lenders against loan default; lower the costs of mortgage origination and servicing; and provide insurance and reinsurance to investors in corporate, municipal and asset-backed securities. (Company Press Release)
For further details, be sure to check out the complete profile located on the site. To view a chart on the stock, click on the link provided below.