Ryan Specialty (NYSE:RYAN) Price Target Raised to $41.00

Ryan Specialty (NYSE:RYAN) had its target price upped by equities research analysts at Cantor Fitzgerald from $34.00 to $41.00 in a research note issued on Monday,Benzinga reports. The brokerage currently has a “neutral” rating on the stock. Cantor Fitzgerald’s target price would suggest a potential downside of 7.36% from the company’s current price.

Several other research analysts have also commented on the company. Mizuho boosted their price target on Ryan Specialty from $39.00 to $48.00 and gave the stock a “neutral” rating in a research report on Friday. UBS Group lowered their price objective on shares of Ryan Specialty from $52.00 to $50.00 and set a “buy” rating for the company in a research note on Wednesday, July 8th. Wells Fargo & Company upped their target price on Ryan Specialty from $31.00 to $39.00 and gave the company an “equal weight” rating in a research report on Thursday, July 9th. Citigroup reaffirmed a “buy” rating on shares of Ryan Specialty in a research report on Monday. Finally, Royal Bank Of Canada lifted their target price on shares of Ryan Specialty from $45.00 to $55.00 and gave the company an “outperform” rating in a report on Friday. Eight research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $52.39.

Ryan Specialty Stock Performance

Ryan Specialty stock opened at $44.26 on Monday. The company has a 50 day moving average price of $37.74 and a 200-day moving average price of $38.34. The company has a market capitalization of $11.67 billion, a PE ratio of 61.47, a P/E/G ratio of 0.95 and a beta of 0.61. Ryan Specialty has a fifty-two week low of $29.28 and a fifty-two week high of $61.85. The company has a debt-to-equity ratio of 3.51, a quick ratio of 1.02 and a current ratio of 1.00.

Ryan Specialty (NYSE:RYAN) last issued its earnings results 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 business had revenue of $916.65 million during the quarter, compared to analysts’ expectations of $873.93 million. Ryan Specialty had a return on equity of 43.97% and a net margin of 7.55%.The business’s revenue for the quarter was up 7.2% compared to the same quarter last year. During the same period in the prior year, the business earned $0.66 EPS. As a group, equities analysts forecast that Ryan Specialty will post 2.08 earnings per share for the current year.

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

Insider Activity at Ryan Specialty

In other Ryan Specialty news, Director John W. Rogers, Jr. bought 7,500 shares of Ryan Specialty stock in a transaction on Wednesday, June 10th. The shares were bought at an average price of $35.16 per share, for a total transaction of $263,700.00. Following the completion of the transaction, the director directly owned 117,933 shares of the company’s stock, 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 link. Also, Chairman Patrick G. Ryan acquired 120,000 shares of Ryan Specialty stock in a transaction that occurred on Friday, June 5th. The stock was bought at an average price of $32.50 per share, for a total transaction 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 position. Additional details regarding this purchase are available in the official SEC disclosure. Over the last quarter, insiders bought 130,715 shares of company stock valued at $4,263,590. 52.03% of the stock is owned by company insiders.

Institutional Investors Weigh In On Ryan Specialty

A number of institutional investors have recently modified their holdings of the company. Los Angeles Capital Management LLC purchased a new stake in Ryan Specialty during the fourth quarter worth about $25,000. Advisory Services Network LLC acquired a new position in shares of Ryan Specialty during the third quarter worth $28,000. SBI Securities Co. Ltd. increased its holdings 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 acquiring an additional 569 shares during the last quarter. Parallel Advisors LLC increased its stake in Ryan Specialty by 54.9% in the first 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 Ryan Specialty by 173.7% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 709 shares of the company’s stock worth $37,000 after acquiring an additional 450 shares in 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.