Keefe, Bruyette & Woods Issues Positive Forecast for Ryan Specialty (NYSE:RYAN) Stock Price

Ryan Specialty (NYSE:RYAN) had its target price lifted by research analysts at Keefe, Bruyette & Woods from $48.00 to $54.00 in a note issued to investors on Friday,Benzinga reports. The firm currently has an “outperform” rating on the stock. Keefe, Bruyette & Woods’ price objective would indicate a potential upside of 22.57% from the company’s previous close.

Several other equities analysts also recently weighed in on the company. Wolfe Research downgraded Ryan Specialty from an “outperform” rating to a “peer perform” rating in a research report on Thursday, July 9th. Wells Fargo & Company raised their price target on Ryan Specialty from $31.00 to $39.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 9th. Citigroup dropped their price objective on shares of Ryan Specialty from $55.00 to $50.00 and set a “buy” rating for the company in a research note on Monday, May 4th. Cantor Fitzgerald boosted their price objective on shares of Ryan Specialty from $33.00 to $34.00 and gave the company a “neutral” rating in a research report on Thursday, July 9th. Finally, Zacks Research raised shares of Ryan Specialty from a “strong sell” rating to a “hold” rating in a research note on Tuesday, June 30th. Eight analysts have rated the stock with a Buy rating, nine have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $50.44.

Ryan Specialty Stock Down 5.2%

Shares of NYSE:RYAN opened at $44.06 on Friday. The company has a market cap of $11.62 billion, a price-to-earnings ratio of 57.22, a PEG ratio of 1.01 and a beta of 0.61. Ryan Specialty has a 12 month low of $29.28 and a 12 month high of $61.85. 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 company has a 50-day moving average price of $37.51 and a 200 day moving average price of $38.39.

Ryan Specialty (NYSE:RYAN) last issued its quarterly earnings data on Thursday, July 30th. The company reported $0.74 earnings per share for the quarter, topping the consensus estimate of $0.60 by $0.14. The company had revenue of $916.65 million for the quarter, compared to analysts’ expectations of $873.93 million. Ryan Specialty had a return on equity of 41.33% and a net margin of 8.21%.The firm’s revenue for the quarter was up 7.2% on a year-over-year basis. During the same period in the previous year, the firm posted $0.66 earnings per share. As a group, equities research analysts predict that Ryan Specialty will post 2.06 earnings per share for the current year.

Ryan Specialty declared that its Board of Directors has approved a stock buyback plan on Tuesday, May 26th that allows the company to repurchase $300.00 million in outstanding shares. This repurchase authorization allows the company to buy up to 3.5% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s leadership believes its stock is undervalued.

Insider Transactions at Ryan Specialty

In related news, EVP Mark Stephen Katz purchased 3,215 shares of Ryan Specialty stock in a transaction that occurred on Wednesday, June 3rd. The shares were bought at an average price of $31.07 per share, with a total value of $99,890.05. Following the purchase, the executive vice president directly owned 4,332 shares of the company’s stock, valued at approximately $134,595.24. This represents a 287.82% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director John W. Rogers, Jr. acquired 7,500 shares of the stock in a transaction on Wednesday, June 10th. The stock was bought at an average cost of $35.16 per share, with a total value of $263,700.00. Following the completion of the transaction, 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 disclosure for this purchase is available in the SEC filing. Over the last ninety days, insiders acquired 130,715 shares of company stock worth $4,263,590. 52.03% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Ryan Specialty

A number of institutional investors have recently modified their holdings of RYAN. Los Angeles Capital Management LLC purchased a new stake in shares of Ryan Specialty in the fourth quarter valued at approximately $25,000. Advisory Services Network LLC purchased a new position in Ryan Specialty during the 3rd quarter worth $28,000. SBI Securities Co. Ltd. raised its position in Ryan Specialty by 6,322.2% during 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 in the last quarter. Parallel Advisors LLC raised its position in Ryan Specialty by 54.9% during 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 in the last quarter. Finally, Caitong International Asset Management Co. Ltd lifted its holdings in shares of Ryan Specialty by 173.7% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 709 shares of the company’s stock worth $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.

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.