The Goldman Sachs Group Boosts Ryan Specialty (NYSE:RYAN) Price Target to $40.00

Ryan Specialty (NYSE:RYAN) had its price objective hoisted by The Goldman Sachs Group from $35.00 to $40.00 in a report released on Wednesday, MarketBeat reports. The firm currently has a “neutral” rating on the stock. The Goldman Sachs Group’s price target would indicate a potential upside of 5.85% from the company’s current price.

Other research analysts have also issued reports about the company. JPMorgan Chase & Co. lowered their price objective on Ryan Specialty from $49.00 to $43.00 and set an “underweight” rating for the company in a research report on Thursday, April 9th. Morgan Stanley dropped their price target on shares of Ryan Specialty from $45.00 to $39.00 and set an “overweight” rating for the company in a research report on Thursday, May 21st. Cantor Fitzgerald dropped their target price on shares of Ryan Specialty from $45.00 to $40.00 and set a “neutral” rating for the company in a report on Thursday, April 9th. Piper Sandler lowered their price target on Ryan Specialty from $43.00 to $35.00 and set a “neutral” rating for the company in a research report on Friday, May 1st. Finally, Bank of America decreased their target price on Ryan Specialty from $70.00 to $68.00 and set a “buy” rating on the stock in a research note on Tuesday, April 14th. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, seven have issued a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $47.41.

Ryan Specialty Stock Performance

Shares of Ryan Specialty stock opened at $37.79 on Wednesday. The company has a debt-to-equity ratio of 2.90, a quick ratio of 1.02 and a current ratio of 1.02. The business’s 50 day moving average price is $33.80 and its 200 day moving average price is $40.01. The company has a market cap of $9.96 billion, a price-to-earnings ratio of 49.08, a PEG ratio of 0.94 and a beta of 0.64. Ryan Specialty has a one year low of $29.28 and a one year high of $68.30.

Ryan Specialty (NYSE:RYAN) last posted its quarterly earnings results on Thursday, April 30th. The company reported $0.47 EPS for the quarter, topping the consensus estimate of $0.43 by $0.04. Ryan Specialty had a return on equity of 41.33% and a net margin of 8.21%.The business had revenue of $795.23 million for the quarter, compared to analyst estimates of $781.44 million. During the same quarter in the previous year, the firm earned $0.39 EPS. The company’s quarterly revenue was up 15.2% compared to the same quarter last year. On average, research analysts predict that Ryan Specialty will post 2.06 EPS for the current year.

Ryan Specialty announced that its board has authorized a stock repurchase program on Tuesday, May 26th that allows the company to buyback $300.00 million in shares. This buyback authorization allows the company to reacquire up to 3.5% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.

Insider Buying and Selling at Ryan Specialty

In related news, Chairman Patrick G. Ryan acquired 120,000 shares of the business’s stock in a transaction on Friday, June 5th. The shares were bought at an average price of $32.50 per share, with a total value of $3,900,000.00. Following the completion of the acquisition, the chairman owned 13,817,859 shares in the company, valued at $449,080,417.50. This trade represents a 0.88% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director John W. Rogers, Jr. bought 7,500 shares of the stock in a transaction dated Wednesday, June 10th. The stock was bought at an average price of $35.16 per share, with a total value of $263,700.00. Following the acquisition, the director owned 117,933 shares in the company, valued at approximately $4,146,524.28. This represents a 6.79% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders have purchased 130,715 shares of company stock worth $4,263,590 over the last three months. Insiders own 52.03% of the company’s stock.

Institutional Investors Weigh In On Ryan Specialty

Large investors have recently modified their holdings of the company. Los Angeles Capital Management LLC acquired a new stake in Ryan Specialty during the 4th quarter worth $25,000. Advisory Services Network LLC acquired a new stake in Ryan Specialty during the 3rd quarter worth approximately $28,000. SBI Securities Co. Ltd. grew its stake in shares of Ryan Specialty by 6,322.2% in the 4th quarter. SBI Securities Co. Ltd. now owns 578 shares of the company’s stock valued at $30,000 after purchasing an additional 569 shares during the last quarter. Parallel Advisors LLC grew its stake in shares of Ryan Specialty by 54.9% in the 1st quarter. Parallel Advisors LLC now owns 1,013 shares of the company’s stock valued at $34,000 after purchasing an additional 359 shares during the last quarter. Finally, Caitong International Asset Management Co. Ltd raised its stake in shares of Ryan Specialty by 173.7% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 709 shares of the company’s stock worth $37,000 after purchasing an additional 450 shares during the last quarter. 84.82% of the stock is owned by institutional investors and hedge funds.

Ryan Specialty Company Profile

Ryan Specialty Group, Inc (NYSE: RYAN) is a global specialty insurance and reinsurance platform that partners with a network of insurers and reinsurers to deliver tailored risk solutions. The company focuses on complex and large-scale risks across multiple industry sectors, leveraging its underwriting expertise to structure coverage programs that meet clients’ unique needs.

Ryan Specialty’s core offerings span a diverse range of specialty lines, including casualty, property, professional liability, marine and energy, program administration, and sports and entertainment.