Radian Group Inc. - RDN STOCK NEWS

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.

Radian Group Inc. (NYSE: RDN) has announced a quarterly dividend of $0.20 per share, payable on September 1, 2022, to shareholders on record as of August 22, 2022. This decision reflects the company's commitment to returning value to its investors as it continues to shape the future of mortgage and real estate services. Radian is known for its mortgage insurance products and a suite of related services that promote sustainable homeownership.

Radian Group reported a net income of $201 million for Q2 2022, translating to $1.15 per diluted share, compared to $155.2 million or $0.80 in Q2 2021. The company's total primary mortgage insurance in force rose 7.1% year-over-year to $254 billion. Adjusted diluted net operating income stood at $1.36 per share. A provision for losses of $(114 million) was attributed to favorable developments on prior defaults. Radian's return on equity was 19.9%, with total liquidity of $1 billion. Moody's upgraded Radian's credit rating, indicating strong financial health.

Home prices in the U.S. rose at an annualized rate of 15.5 percent in the first half of 2022, according to the homegenius Home Price Index (HPI) data from Radian Group Inc. The median home price reached $330,776 in June, with a second-quarter increase of 17.6 percent. Despite rising mortgage rates, demand remains strong due to a housing shortage. The absorption rate in June was 34.8 percent, the second highest for June sales. All regions experienced positive appreciation rates, particularly in the South, while Idaho saw a decline.