Ryan Specialty (NYSE:RYAN) Coverage Initiated by Analysts at Royal Bank Of Canada

Royal Bank Of Canada assumed coverage on shares of Ryan Specialty (NYSE:RYAN) in a research note issued on Tuesday, MarketBeat.com reports. The firm set an “outperform” rating and a $45.00 price target on the stock. Royal Bank Of Canada’s target price would indicate a potential upside of 21.29% from the company’s previous close.

Other research analysts have also issued reports about the stock. Morgan Stanley decreased their price objective on shares of Ryan Specialty from $61.00 to $55.00 and set an “overweight” rating for the company in a report on Monday, February 23rd. Jefferies Financial Group started coverage on shares of Ryan Specialty in a research note on Monday, December 1st. They set a “hold” rating and a $64.00 target price on the stock. JPMorgan Chase & Co. reduced their price target on shares of Ryan Specialty from $63.00 to $56.00 and set an “underweight” rating on the stock in a research report on Wednesday, January 7th. Weiss Ratings downgraded shares of Ryan Specialty from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Thursday, February 5th. Finally, Piper Sandler lowered their price objective on shares of Ryan Specialty from $58.00 to $43.00 and set a “neutral” rating for the company in a report on Friday, February 13th. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, five have given a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Ryan Specialty has an average rating of “Hold” and a consensus price target of $55.69.

Ryan Specialty Trading Up 2.6%

Shares of RYAN traded up $0.94 during mid-day trading on Tuesday, hitting $37.10. 51,306 shares of the company’s stock traded hands, compared to its average volume of 2,074,350. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 2.62. Ryan Specialty has a 1 year low of $35.84 and a 1 year high of $77.16. The firm has a market capitalization of $9.80 billion, a P/E ratio of 88.37, a PEG ratio of 0.94 and a beta of 0.66. The business’s 50-day moving average price is $44.34 and its 200-day moving average price is $50.96.

Ryan Specialty (NYSE:RYAN) last announced its quarterly earnings results on Thursday, February 12th. The company reported $0.45 EPS for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.05). The business had revenue of $751.21 million during the quarter, compared to analysts’ expectations of $777.43 million. Ryan Specialty had a return on equity of 46.41% and a net margin of 7.02%.The business’s revenue was up 13.2% compared to the same quarter last year. During the same period in the previous year, the business earned $0.45 EPS. As a group, sell-side analysts forecast that Ryan Specialty will post 2.29 EPS for the current fiscal year.

Insider Buying and Selling at Ryan Specialty

In related news, Director Patrick G. Ryan, Jr. purchased 25,500 shares of the business’s stock in a transaction that occurred on Monday, February 23rd. The shares were bought at an average price of $39.96 per share, for a total transaction of $1,018,980.00. Following the purchase, the director directly owned 428,295 shares of the company’s stock, valued at approximately $17,114,668.20. This represents a 6.33% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 52.21% of the stock is owned by insiders.

Institutional Investors Weigh In On Ryan Specialty

Several hedge funds have recently added to or reduced their stakes in RYAN. Ameritas Investment Partners Inc. grew its stake in shares of Ryan Specialty by 0.9% in the third quarter. Ameritas Investment Partners Inc. now owns 21,119 shares of the company’s stock worth $1,190,000 after acquiring an additional 185 shares during the last quarter. MAI Capital Management grew its position in Ryan Specialty by 65.3% during the 2nd quarter. MAI Capital Management now owns 476 shares of the company’s stock valued at $32,000 after purchasing an additional 188 shares during the last quarter. Baker Tilly Wealth Management LLC increased its stake in Ryan Specialty by 5.6% during the 3rd quarter. Baker Tilly Wealth Management LLC now owns 3,595 shares of the company’s stock valued at $203,000 after purchasing an additional 192 shares in the last quarter. Public Employees Retirement System of Ohio increased its stake in Ryan Specialty by 0.6% during 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 purchasing an additional 203 shares in the last quarter. Finally, Covestor Ltd raised its holdings in Ryan Specialty by 16.8% in the fourth 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. 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.