Last $16.31 USD
Change Today -0.29 / -1.75%
Volume 5.3M
RDN On Other Exchanges
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As of 8:04 PM 12/19/14 All times are local (Market data is delayed by at least 15 minutes).
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Company Description

Contact Info

1601 Market Street

Philadelphia, PA 19103

United States

Phone: 215-231-1000

Fax:

ssued by states, their political subdivisions and other municipal issuers. These bonds are supported by the general obligation of the issuer to pay from available funds and are often coupled with a pledge of the issuer to levy taxes based on the value of real estate or personal property in an amount sufficient to provide for the full payment of the bonds or in an amount up to a prescribed limitation. Other Tax Supported Bonds: Tax supported bonds are obligations that are supported by the issuer from specific and discrete sources of taxation. They include tax-backed revenue bonds, general fund obligations and lease revenue bonds. Healthcare and Long-Term Care Bonds: Healthcare and long-term care bonds are obligations of healthcare facilities, including community based hospitals and systems, as well as of health maintenance organizations and long-term care facilities. Water/Sewer/Electric/Gas and Investor-Owned Utility Bonds: These bonds include municipal utility revenue bonds and investor-owned utility bonds. Municipal utility revenue bonds are obligations of all forms of municipal utilities, including electric, water and sewer utilities and resource recovery revenue bonds. These utilities are organized in various forms, including municipal enterprise systems, authorities or joint action agencies. Investor-owned utility bonds are obligations primarily backed by investor-owned utilities, first mortgage bond obligations of for-profit electric or water utilities providing retail, industrial and commercial service, and also include sale-leaseback obligation bonds supported by such entities. Airports/Transportation Bonds: These bonds include revenue-supported bonds, such as bonds for airports, ports, tunnels, municipal parking facilities, toll roads and toll bridges. Education Bonds: Education bonds are obligations secured by revenue collected by either public or private secondary schools, colleges and universities. Housing Bonds: Housing bonds are obligations relating to both single and multi-family housing, issued by states and localities, supported by the cash flow and, in some cases, insurance from entities such as the FHA or private mortgage insurers. Other Municipal Bonds: These bonds include other debt issued, guaranteed or otherwise supported by U.S. national or local governmental authorities, as well as student loans, revenue bonds and obligations of certain not-for-profit organizations. International Public Finance Bonds: The company also provides credit protection on international public finance bonds of similar types, as well as some structured finance bonds for which a foreign sovereign entity has guaranteed the obligations of the issuer. Structured Finance: The structured finance business includes financial guaranty insurance of Asset-Backed Securities (ABS) and other asset-backed or mortgage-backed obligations, including both funded and synthetic collateralized debt obligations (CDOs). Assumed Reinsurance: The company reinsures direct financial guarantees written by other primary financial guaranty insurers or ‘ceding companies.’ Second-to-pay Obligations: The company provides ‘second-to-pay’ credit protection in which it is not required to pay a claim unless both the underlying obligation defaults and another insurer defaults on its primary obligation to cover losses on such defaulted obligation. Customers: The company’s financial guaranty ceding companies consist mainly of the primary insurance companies licensed to write financial guaranty insurance and their foreign-based affiliates. Subsidiaries Radian Guaranty: Radian Guaranty is domiciled and licensed in Pennsylvania as a stock casualty insurance company authorized to carry on the business of credit insurance, which includes the authority to write mortgage guaranty insurance. It is a monoline insurer, restricted to writing only residential mortgage guaranty insurance. In addition to Pennsylvania, Radian Guaranty is authorized to write mortgage guaranty insurance in each of the other 49 states, the District of Columbia and Guam. Radian Guaranty is a direct subsidiary of the company. Radian Asset Assurance: Radian

 

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Industry Analysis

RDN

Industry Average

Valuation RDN Industry Range
Price/Earnings 6.2x
Price/Sales 2.4x
Price/Book 1.8x
Price/Cash Flow 5.5x
TEV/Sales NM Not Meaningful
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