Ryan Specialty (NYSE:RYAN) Rating Lowered to “Peer Perform” at Wolfe Research

Ryan Specialty (NYSE:RYAN) was downgraded by research analysts at Wolfe Research from an “outperform” rating to a “peer perform” rating in a research note issued to investors on Thursday, MarketBeat.com reports.

A number of other analysts have also recently weighed in on the company. Royal Bank Of Canada started coverage on Ryan Specialty in a research report on Tuesday, March 17th. They issued an “outperform” rating and a $45.00 price target for the company. Mizuho set a $35.00 price objective on Ryan Specialty in a research note on Friday, May 1st. Citigroup reduced their target price on Ryan Specialty from $55.00 to $50.00 and set a “buy” rating for the company in a report on Monday, May 4th. Bank of America lowered their price target on Ryan Specialty from $70.00 to $68.00 and set a “buy” rating on the stock in a report on Tuesday, April 14th. Finally, UBS Group dropped their price target on shares of Ryan Specialty from $52.00 to $50.00 and set a “buy” rating on the stock in a research report on Wednesday. Eight equities research 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. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $48.59.

Ryan Specialty Stock Down 0.5%

Ryan Specialty stock opened at $40.40 on Thursday. The company has a market capitalization of $10.65 billion, a P/E ratio of 52.46, a P/E/G ratio of 0.98 and a beta of 0.61. The firm’s fifty day simple moving average is $34.64 and its 200-day simple moving average is $39.40. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 2.90. Ryan Specialty has a 1-year low of $29.28 and a 1-year high of $67.69.

Ryan Specialty (NYSE:RYAN) last issued its quarterly earnings data on Thursday, April 30th. The company reported $0.47 earnings per share (EPS) for the quarter, topping 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 net margin of 8.21% and a return on equity of 41.33%. Ryan Specialty’s revenue for the quarter was up 15.2% on a year-over-year basis. During the same period in the prior year, the company posted $0.39 earnings per share. Sell-side analysts forecast that Ryan Specialty will post 2.05 earnings per share for the current fiscal year.

Ryan Specialty declared that its Board of Directors has initiated a share buyback 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 shares through open market purchases. Shares buyback programs are typically a sign that the company’s management 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 acquisition, the executive vice president owned 4,332 shares in the company, valued at $134,595.24. This trade represents a 287.82% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman Patrick G. Ryan acquired 120,000 shares of the business’s stock in a transaction dated Friday, June 5th. The shares were bought at an average cost of $32.50 per share, with a total value of $3,900,000.00. Following the transaction, the chairman directly owned 13,817,859 shares of the company’s stock, 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. Insiders purchased a total of 130,715 shares of company stock worth $4,263,590 in the last ninety days. 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 RYAN. Vulcan Value Partners LLC increased its stake in Ryan Specialty by 631.7% during the fourth quarter. Vulcan Value Partners LLC now owns 4,621,079 shares of the company’s stock valued at $238,536,000 after acquiring an additional 3,989,502 shares during the period. T. Rowe Price Investment Management Inc. lifted its position in shares of Ryan Specialty by 79.9% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 7,552,002 shares of the company’s stock worth $389,910,000 after acquiring an additional 3,353,926 shares during the period. Independent Franchise Partners LLP acquired a new stake in shares of Ryan Specialty during the 3rd quarter worth approximately $95,798,000. Adage Capital Partners GP L.L.C. grew its holdings in shares of Ryan Specialty by 1,510.0% during the 4th quarter. Adage Capital Partners GP L.L.C. now owns 1,610,000 shares of the company’s stock worth $83,124,000 after purchasing an additional 1,510,000 shares in the last quarter. Finally, Norges Bank bought a new stake in shares of Ryan Specialty during the fourth quarter valued at approximately $60,546,000. 84.82% of the stock is owned by institutional investors and hedge funds.

Ryan Specialty News Summary

Here are the key news stories impacting Ryan Specialty this week:

• Neutral Sentiment: Wells Fargo raised its price target on Ryan Specialty to $39 from $31 and kept an equal-weight rating, signaling more confidence in the business but not a bullish call. Ryan Specialty (NYSE:RYAN) Price Target Raised to $39.00 at Wells Fargo & Company
• Neutral Sentiment: Mizuho also lifted its price target to $39 from $35 while maintaining a neutral rating, which supports valuation but does not point to significant upside from here. Ryan Specialty (NYSE:RYAN) Given New $39.00 Price Target at Mizuho
• Negative Sentiment: Wolfe Research downgraded Ryan Specialty to Peer Perform from Outperform, a move that can weigh on sentiment by suggesting the stock’s recent run may have already priced in much of the good news. Ryan Specialty (NYSE:RYAN) Downgraded by Wolfe Research to “Peer Perform”
• Neutral Sentiment: Separately, a market commentary piece noted Ryan Specialty looks expensive on price but attractive on earnings quality, reinforcing a mixed investor view rather than a clear catalyst. Ryan Specialty (RYAN) Stock Looks Weak On Price But Rich On Earnings

About Ryan Specialty

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.