Radian Group Inc. announced net income of $152 million, or $0.99 per diluted share, for the third quarter ended September 30, 2024. This compares to $157 million, or $0.98 per diluted share, in the prior-year quarter. Adjusted pretax operating income for the quarter was $199 million, or $1.03 per diluted share, a decrease from $210 million, or $1.04 per diluted share, in Q3 2023.
Total revenues for the third quarter of 2024 increased to $334 million, up from $313 million in the same period last year. The company reported an 18% year-over-year growth in book value per share, reaching $31.37 as of September 30, 2024, compared to $26.69 a year prior. Primary mortgage insurance in force also grew to $274.721 billion.
Radian demonstrated strong capital management, returning $86 million to stockholders through dividends and share repurchases during the quarter. The holding company's debt-to-capital ratio was reduced to 18.5% following the redemption of $450 million in senior notes, and Radian Guaranty paid a $185 million ordinary dividend to the holding company. The percentage of primary loans in default increased to 2.25% from 2.03% in Q3 2023, with a provision for losses of $6 million.
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