Ryan Specialty (NYSE:RYAN) Upgraded to Hold at Zacks Research

Zacks Research upgraded shares of Ryan Specialty (NYSE:RYAN) from a strong sell rating to a hold rating in a research report sent to investors on Tuesday,Zacks.com reports.

Several other equities analysts have also recently weighed in on RYAN. Mizuho set a $35.00 target price on shares of Ryan Specialty in a research note on Friday, May 1st. Bank of America decreased their price target on shares of Ryan Specialty from $70.00 to $68.00 and set a “buy” rating on the stock in a research note on Tuesday, April 14th. UBS Group increased their price objective on shares of Ryan Specialty from $51.00 to $52.00 and gave the company a “buy” rating in a report on Tuesday, June 9th. Barclays cut their price objective on Ryan Specialty from $41.00 to $39.00 and set an “overweight” rating for the company in a research report on Friday, May 1st. Finally, Piper Sandler reduced their target price on Ryan Specialty from $43.00 to $35.00 and set a “neutral” rating on the stock in a report on Friday, May 1st. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, eight have assigned a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $47.41.

Ryan Specialty Stock Up 6.0%

NYSE RYAN opened at $40.02 on Tuesday. Ryan Specialty has a 12 month low of $29.28 and a 12 month high of $67.69. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 2.90. The stock has a market cap of $10.55 billion, a PE ratio of 51.98, a P/E/G ratio of 0.91 and a beta of 0.61. The stock’s 50 day moving average is $33.84 and its 200 day moving average is $39.91.

Ryan Specialty (NYSE:RYAN) last released its quarterly earnings data on Thursday, April 30th. The company reported $0.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.43 by $0.04. Ryan Specialty had a net margin of 8.21% and a return on equity of 41.33%. The firm had revenue of $795.23 million for the quarter, compared to analysts’ expectations of $781.44 million. During the same quarter last year, the business posted $0.39 earnings per share. The company’s revenue for the quarter was up 15.2% compared to the same quarter last year. Research analysts predict that Ryan Specialty will post 2.06 EPS for the current fiscal year.

Ryan Specialty Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, May 26th. Shareholders of record on Tuesday, May 12th were given a dividend of $0.13 per share. The ex-dividend date was Tuesday, May 12th. This represents a $0.52 dividend on an annualized basis and a yield of 1.3%. Ryan Specialty’s dividend payout ratio is 67.53%.

Ryan Specialty announced that its Board of Directors has initiated a share repurchase plan on Tuesday, May 26th that authorizes the company to buyback $300.00 million in outstanding shares. This buyback authorization authorizes the company to purchase up to 3.5% of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s board of directors believes its stock is undervalued.

Insider Activity

In related news, Director John W. Rogers, Jr. bought 7,500 shares of the company’s stock in a transaction dated Wednesday, June 10th. The stock was purchased at an average price of $35.16 per share, for a total transaction of $263,700.00. Following the acquisition, the director owned 117,933 shares in the company, valued at $4,146,524.28. This trade represents a 6.79% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Mark Stephen Katz acquired 3,215 shares of the business’s stock in a transaction on Wednesday, June 3rd. The shares were purchased at an average price of $31.07 per share, for a total transaction of $99,890.05. Following the transaction, the executive vice president directly owned 4,332 shares of the company’s stock, valued at approximately $134,595.24. The trade was a 287.82% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders purchased 130,715 shares of company stock valued at $4,263,590 in the last ninety days. Insiders own 52.03% of the company’s stock.

Hedge Funds Weigh In On Ryan Specialty

A number of large investors have recently made changes to their positions in the company. Advisory Services Network LLC bought a new position in Ryan Specialty during the 3rd quarter valued at about $28,000. Los Angeles Capital Management LLC bought a new stake in Ryan Specialty in the fourth quarter worth about $25,000. SBI Securities Co. Ltd. lifted its stake in Ryan Specialty by 6,322.2% in the fourth quarter. SBI Securities Co. Ltd. now owns 578 shares of the company’s stock worth $30,000 after purchasing an additional 569 shares during the last quarter. Quarry LP bought a new stake in Ryan Specialty in the third quarter worth about $37,000. Finally, Caitong International Asset Management Co. Ltd boosted its position 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 valued at $37,000 after buying an additional 450 shares during the period. 84.82% of the stock is owned by hedge funds and other institutional investors.

About Ryan Specialty

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.