Ryan Specialty (NYSE:RYAN) Given New $39.00 Price Target at JPMorgan Chase & Co.

Ryan Specialty (NYSE:RYAN) had its target price raised by stock analysts at JPMorgan Chase & Co. from $37.00 to $39.00 in a research report issued to clients and investors on Monday,Benzinga reports. The brokerage currently has an “underweight” rating on the stock. JPMorgan Chase & Co.‘s price target would suggest a potential downside of 6.04% from the stock’s previous close.

A number of other equities research analysts have also recently weighed in on RYAN. Wells Fargo & Company lifted their price objective on shares of Ryan Specialty from $31.00 to $39.00 and gave the company an “equal weight” rating in a research note on Thursday. Barclays raised their price objective on shares of Ryan Specialty from $39.00 to $46.00 and gave the company an “overweight” rating in a research note on Tuesday, July 7th. Weiss Ratings restated a “sell (d+)” rating on shares of Ryan Specialty in a research report on Monday, May 4th. Cantor Fitzgerald increased their price target on Ryan Specialty from $33.00 to $34.00 and gave the company a “neutral” rating in a research note on Thursday. Finally, Bank of America decreased their price target on Ryan Specialty from $70.00 to $68.00 and set a “buy” rating for the company in a research note on Tuesday, April 14th. Eight analysts have rated the stock with a Buy rating, nine have given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $48.35.

Ryan Specialty Stock Performance

NYSE RYAN traded up $1.10 on Monday, hitting $41.51. The stock had a trading volume of 336,467 shares, compared to its average volume of 2,331,014. The company’s 50-day moving average is $34.64 and its two-hundred day moving average is $39.31. Ryan Specialty has a one year low of $29.28 and a one year high of $67.69. The stock has a market cap of $10.94 billion, a price-to-earnings ratio of 53.96, a P/E/G ratio of 0.97 and a beta of 0.61. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 2.90.

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 the consensus estimate of $0.43 by $0.04. The business had revenue of $795.23 million during the quarter, compared to the consensus estimate of $781.44 million. Ryan Specialty had a return on equity of 41.33% and a net margin of 8.21%.The business’s revenue was up 15.2% on a year-over-year basis. During the same period in the previous year, the firm posted $0.39 earnings per share. On average, analysts expect that Ryan Specialty will post 2.05 earnings per share for the current year.

Ryan Specialty announced that its Board of Directors has approved a share buyback program on Tuesday, May 26th that allows the company to buyback $300.00 million in shares. This buyback authorization allows the company to purchase up to 3.5% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s management believes its stock is undervalued.

Insider Buying and Selling at Ryan Specialty

In other Ryan Specialty news, Director John W. Rogers, Jr. bought 7,500 shares of the company’s stock in a transaction dated Wednesday, June 10th. The shares were bought at an average price of $35.16 per share, for a total transaction of $263,700.00. Following the acquisition, the director directly owned 117,933 shares of the company’s stock, valued at approximately $4,146,524.28. This trade represents a 6.79% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Chairman Patrick G. Ryan purchased 120,000 shares of Ryan Specialty 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 completion of the transaction, the chairman directly owned 13,817,859 shares of the company’s stock, valued at $449,080,417.50. This represents a 0.88% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders have acquired a total of 130,715 shares of company stock valued at $4,263,590 in the last 90 days. 52.03% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Ryan Specialty

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Los Angeles Capital Management LLC acquired a new position in Ryan Specialty in the fourth quarter worth approximately $25,000. Advisory Services Network LLC bought a new stake in Ryan Specialty in the third quarter worth approximately $28,000. SBI Securities Co. Ltd. increased its stake in shares of Ryan Specialty by 6,322.2% during the 4th quarter. SBI Securities Co. Ltd. now owns 578 shares of the company’s stock worth $30,000 after purchasing an additional 569 shares during the last quarter. Parallel Advisors LLC raised its holdings in shares of Ryan Specialty by 54.9% during 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 in the last quarter. Finally, Caitong International Asset Management Co. Ltd lifted its stake in shares of Ryan Specialty by 173.7% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 709 shares of the company’s stock valued at $37,000 after purchasing an additional 450 shares during the last quarter. 84.82% of the stock is owned by hedge funds and other institutional investors.

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.