Deals
Radian Leads Mortgage Insurer Rally as Compass Point Says Buy
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Radian Group Inc. led a rally of U.S. mortgage guarantors after Compass Point Research & Trading LLC upgraded the company on the prospect that a unit sale will help the insurer prepare for tighter capital rules.
Radian jumped 3.4 percent to $15.02 at 11:12 a.m. in New York. The stock was upgraded to buy from neutral by Compass Point analysts led by Jason Stewart. NMI Holdings Inc., whose top investors include Carlyle Group LP’s Claren Road Asset Management LLC and Kyle Bass’s Hayman Capital Management LP, advanced 2.8 percent. Milwaukee-based MGIC Investment Corp. climbed 2.6 percent.