Ryan Specialty (NYSE:RYAN) Given New $52.00 Price Target at UBS Group

Ryan Specialty (NYSE:RYAN) had its price target boosted by stock analysts at UBS Group from $51.00 to $52.00 in a research report issued on Tuesday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. UBS Group’s price objective suggests a potential upside of 56.08% from the stock’s current price.

RYAN has been the topic of a number of other reports. Piper Sandler reduced their price objective 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. Morgan Stanley dropped their target price on Ryan Specialty from $45.00 to $39.00 and set an “overweight” rating on the stock in a research report on Thursday, May 21st. Zacks Research downgraded Ryan Specialty from a “hold” rating to a “strong sell” rating in a research report on Tuesday, February 24th. BMO Capital Markets cut shares of Ryan Specialty from an “outperform” rating to a “market perform” rating and decreased their price target for the stock from $66.00 to $43.00 in a research note on Wednesday, February 25th. Finally, Weiss Ratings reiterated a “sell (d+)” rating on shares of Ryan Specialty in a report on Monday, May 4th. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, seven have assigned a Hold rating and three have issued a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $47.12.

Ryan Specialty Stock Up 5.3%

RYAN stock traded up $1.67 during mid-day trading on Tuesday, hitting $33.32. 1,328,522 shares of the company were exchanged, compared to its average volume of 2,236,656. The company has a debt-to-equity ratio of 2.90, a quick ratio of 1.02 and a current ratio of 1.02. Ryan Specialty has a 1-year low of $29.28 and a 1-year high of $69.49. The firm’s 50 day simple moving average is $33.49 and its 200 day simple moving average is $42.35. The firm has a market cap of $8.78 billion, a P/E ratio of 43.13, a P/E/G ratio of 0.78 and a beta of 0.64.

Ryan Specialty (NYSE:RYAN) last released its quarterly earnings results on Thursday, April 30th. The company reported $0.47 earnings per share 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 company had revenue of $795.23 million during the quarter, compared to analysts’ expectations of $781.44 million. During the same quarter in the prior year, the company earned $0.39 earnings per share. The business’s quarterly revenue was up 15.2% compared to the same quarter last year. On average, sell-side analysts predict that Ryan Specialty will post 2.05 EPS for the current fiscal year.

Ryan Specialty announced that its board has initiated a stock repurchase program on Tuesday, May 26th that authorizes the company to buyback $300.00 million in outstanding shares. This buyback authorization authorizes the company to buy up to 3.5% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board believes its stock is undervalued.

Insider Activity at Ryan Specialty

In related news, EVP Mark Stephen Katz acquired 3,215 shares of the company’s stock in a transaction dated Wednesday, June 3rd. The shares were bought at an average price of $31.07 per share, for a total transaction of $99,890.05. Following the purchase, the executive vice president directly owned 4,332 shares in the company, valued at approximately $134,595.24. This trade represents a 287.82% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman Patrick G. Ryan acquired 120,000 shares of the business’s stock in a transaction dated Friday, June 5th. The stock was bought at an average cost of $32.50 per share, with a total value of $3,900,000.00. Following the acquisition, the chairman owned 13,817,859 shares in the company, valued at $449,080,417.50. The trade was a 0.88% increase in their position. The disclosure for this purchase is available in the SEC filing. Corporate insiders own 52.03% of the company’s stock.

Institutional Trading of Ryan Specialty

Several institutional investors and hedge funds have recently added to or reduced their stakes in RYAN. Los Angeles Capital Management LLC acquired a new stake in Ryan Specialty in the fourth quarter valued at $25,000. Advisory Services Network LLC acquired a new position in shares of Ryan Specialty during the 3rd quarter worth about $28,000. SBI Securities Co. Ltd. raised 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 purchasing an additional 569 shares during the period. Fifth Third Bancorp raised its holdings in shares of Ryan Specialty by 65.4% in the 3rd quarter. Fifth Third Bancorp now owns 612 shares of the company’s stock valued at $34,000 after purchasing an additional 242 shares during the period. Finally, Parallel Advisors LLC lifted its stake in 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. 84.82% of the stock is owned by 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.