Ryan Specialty (NYSE:RYAN) Stock Rating Upgraded by Zacks Research

Ryan Specialty (NYSE:RYAN) was upgraded by research analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a note issued to investors on Tuesday,Zacks.com reports.

Several other analysts also recently issued reports on RYAN. Barclays reduced their price target on shares of Ryan Specialty from $41.00 to $39.00 and set an “overweight” rating for the company in a research report on Friday, May 1st. Royal Bank Of Canada initiated coverage on shares of Ryan Specialty in a report on Tuesday, March 17th. They set an “outperform” rating and a $45.00 price objective on the stock. Wells Fargo & Company lowered shares of Ryan Specialty from an “overweight” rating to an “equal weight” rating and dropped their price objective for the company from $42.00 to $31.00 in a research note on Friday, May 1st. UBS Group lifted 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. Finally, JPMorgan Chase & Co. decreased their target price 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. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, eight have issued a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $47.41.

Ryan Specialty Stock Up 6.0%

RYAN stock opened at $40.02 on Tuesday. The stock’s 50 day simple moving average is $33.84 and its 200 day simple moving average is $39.91. The company has a market cap of $10.55 billion, a P/E ratio of 51.98, a price-to-earnings-growth ratio of 0.91 and a beta of 0.61. 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 fifty-two week low of $29.28 and a fifty-two week high of $67.69.

Ryan Specialty (NYSE:RYAN) last announced its quarterly earnings data on Thursday, April 30th. The company reported $0.47 EPS for the quarter, beating analysts’ consensus estimates of $0.43 by $0.04. The firm had revenue of $795.23 million during 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 company’s revenue for the quarter was up 15.2% compared to the same quarter last year. During the same quarter last year, the firm posted $0.39 earnings per share. On average, research analysts expect that Ryan Specialty will post 2.06 earnings per share for the current fiscal year.

Ryan Specialty declared that its Board of Directors has authorized a stock 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 repurchase up to 3.5% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s management believes its shares are undervalued.

Insiders Place Their Bets

In other news, EVP Mark Stephen Katz bought 3,215 shares of the stock in a transaction dated 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 completion of the acquisition, 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 purchase was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director John W. Rogers, Jr. purchased 7,500 shares of the company’s stock in a transaction that occurred on Wednesday, June 10th. The shares were purchased at an average cost 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 represents a 6.79% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders have bought 130,715 shares of company stock valued at $4,263,590 in the last three months. 52.03% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Ryan Specialty

A number of institutional investors have recently added to or reduced their stakes in the company. Public Employees Retirement System of Ohio increased its stake in Ryan Specialty by 0.6% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 32,797 shares of the company’s stock valued at $1,848,000 after buying an additional 203 shares during the last quarter. Covestor Ltd boosted its stake in shares of Ryan Specialty by 16.8% in the 4th quarter. Covestor Ltd now owns 1,467 shares of the company’s stock worth $76,000 after buying an additional 211 shares during the last quarter. Northwestern Mutual Investment Management Company LLC grew its holdings in shares of Ryan Specialty by 1.0% in the fourth quarter. Northwestern Mutual Investment Management Company LLC now owns 25,355 shares of the company’s stock valued at $1,309,000 after acquiring an additional 240 shares in the last quarter. Federation des caisses Desjardins du Quebec grew its holdings in shares of Ryan Specialty by 7.8% in the fourth quarter. Federation des caisses Desjardins du Quebec now owns 3,313 shares of the company’s stock valued at $171,000 after acquiring an additional 240 shares in the last quarter. Finally, Snowden Capital Advisors LLC grew its holdings in shares of Ryan Specialty by 1.3% in the second quarter. Snowden Capital Advisors LLC now owns 21,135 shares of the company’s stock valued at $1,437,000 after acquiring an additional 264 shares in 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.