UBS Group Lowers Ryan Specialty (NYSE:RYAN) Price Target to $50.00

Ryan Specialty (NYSE:RYAN) had its price objective decreased by equities researchers at UBS Group from $52.00 to $50.00 in a report released on Wednesday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. UBS Group’s price target suggests a potential upside of 19.58% from the company’s previous close.

Several other analysts have also weighed in on RYAN. Mizuho set a $35.00 price objective on Ryan Specialty in a report on Friday, May 1st. Royal Bank Of Canada started coverage on shares of Ryan Specialty in a research note on Tuesday, March 17th. They issued an “outperform” rating and a $45.00 price objective on the stock. Cantor Fitzgerald cut their target price on Ryan Specialty from $45.00 to $40.00 and set a “neutral” rating on the stock in a research report on Thursday, April 9th. JPMorgan Chase & Co. reduced their price target on shares of Ryan Specialty from $49.00 to $43.00 and set an “underweight” rating for the company in a research report on Thursday, April 9th. Finally, Keefe, Bruyette & Woods increased their price objective on Ryan Specialty from $44.00 to $48.00 and gave the stock an “outperform” rating in a research note on Wednesday. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, eight have given a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, Ryan Specialty presently has a consensus rating of “Hold” and a consensus target price of $48.24.

Ryan Specialty Price Performance

Shares of NYSE RYAN traded up $0.23 during mid-day trading on Wednesday, reaching $41.81. 827,041 shares of the company traded hands, compared to its average volume of 2,353,397. Ryan Specialty has a fifty-two week low of $29.28 and a fifty-two week high of $67.69. The company has a debt-to-equity ratio of 2.90, a current ratio of 1.02 and a quick ratio of 1.02. The firm has a market cap of $11.02 billion, a PE ratio of 54.29, a price-to-earnings-growth ratio of 0.99 and a beta of 0.61. The stock has a fifty day simple moving average of $34.29 and a 200-day simple moving average of $39.57.

Ryan Specialty (NYSE:RYAN) last announced its 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. The firm had revenue of $795.23 million for the quarter, compared to analysts’ expectations of $781.44 million. Ryan Specialty had a return on equity of 41.33% and a net margin of 8.21%.The firm’s quarterly revenue was up 15.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.39 earnings per share. Equities research analysts anticipate that Ryan Specialty will post 2.06 EPS for the current fiscal year.

Ryan Specialty announced that its board has authorized 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 reacquire up to 3.5% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s board believes its shares are undervalued.

Insider Buying and Selling

In other news, EVP Mark Stephen Katz acquired 3,215 shares of Ryan Specialty stock in a transaction on Wednesday, June 3rd. The stock was bought at an average price of $31.07 per share, for a total transaction of $99,890.05. Following the transaction, the executive vice president owned 4,332 shares of the company’s stock, valued at $134,595.24. The trade was a 287.82% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director John W. Rogers, Jr. acquired 7,500 shares of the stock in a transaction dated Wednesday, June 10th. The shares were purchased 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 owned 117,933 shares of the company’s stock, valued at $4,146,524.28. This trade represents a 6.79% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have bought a total of 130,715 shares of company stock valued at $4,263,590 over the last three months. 52.03% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Ryan Specialty

A number of hedge funds have recently made changes to their positions in the business. GAMMA Investing LLC lifted its holdings in shares of Ryan Specialty by 90.2% during the 2nd quarter. GAMMA Investing LLC now owns 2,107 shares of the company’s stock worth $80,000 after acquiring an additional 999 shares during the period. Confluence Investment Management LLC bought a new stake in Ryan Specialty in the second quarter valued at about $7,137,000. Parallel Advisors LLC raised its position in Ryan Specialty by 54.9% in the first quarter. Parallel Advisors LLC now owns 1,013 shares of the company’s stock worth $34,000 after purchasing an additional 359 shares in the last quarter. Bank of America Corp DE lifted its stake in Ryan Specialty by 34.8% during the first quarter. Bank of America Corp DE now owns 1,508,083 shares of the company’s stock worth $50,883,000 after purchasing an additional 389,505 shares during the period. Finally, California State Teachers Retirement System lifted its stake in Ryan Specialty by 27.2% during the first quarter. California State Teachers Retirement System now owns 131,356 shares of the company’s stock worth $4,432,000 after purchasing an additional 28,095 shares during the period. Institutional investors and hedge funds own 84.82% of the company’s stock.

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.