Ryan Specialty (NYSE:RYAN) Given New $43.00 Price Target at Wells Fargo & Company

Ryan Specialty (NYSE:RYAN) had its price objective upped by stock analysts at Wells Fargo & Company from $39.00 to $43.00 in a research note issued on Monday,Benzinga reports. The firm presently has an “equal weight” rating on the stock. Wells Fargo & Company‘s price objective points to a potential downside of 3.40% from the company’s current price.

Other equities research analysts have also issued reports about the company. Atlantic Securities set a $69.00 target price on Ryan Specialty in a report on Wednesday, July 15th. JPMorgan Chase & Co. increased their price target on Ryan Specialty from $37.00 to $39.00 and gave the company an “underweight” rating in a research report on Monday, July 13th. Keefe, Bruyette & Woods lifted their price target on Ryan Specialty from $48.00 to $54.00 and gave the stock an “outperform” rating in a research note on Friday. Bank of America cut their price objective 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, Citigroup reaffirmed a “buy” rating on shares of Ryan Specialty in a research note on Monday. Eight analysts have rated the stock with a Buy rating, nine have issued a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $52.61.

Ryan Specialty Price Performance

NYSE RYAN opened at $44.52 on Monday. Ryan Specialty has a 1 year low of $29.28 and a 1 year high of $61.05. The business’s fifty day moving average is $37.74 and its two-hundred day moving average is $38.34. The stock has a market capitalization of $11.74 billion, a P/E ratio of 62.15, a P/E/G ratio of 0.95 and a beta of 0.61. The company has a debt-to-equity ratio of 3.51, a quick ratio of 1.02 and a current ratio of 1.00.

Ryan Specialty (NYSE:RYAN) last released its quarterly earnings data on Thursday, July 30th. The company reported $0.74 earnings per share for the quarter, topping the consensus estimate of $0.60 by $0.14. The business had revenue of $916.65 million during the quarter, compared to analyst estimates of $873.93 million. Ryan Specialty had a return on equity of 43.97% and a net margin of 7.55%.The company’s revenue was up 7.2% compared to the same quarter last year. During the same period last year, the company posted $0.66 EPS. On average, research analysts forecast that Ryan Specialty will post 2.08 earnings per share for the current fiscal year.

Ryan Specialty announced that its board has initiated a share buyback plan on Tuesday, May 26th that allows the company to repurchase $300.00 million in shares. This repurchase authorization allows the company to buy up to 3.5% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s leadership believes its shares are undervalued.

Insider Activity

In other Ryan Specialty news, Director John W. Rogers, Jr. purchased 7,500 shares of the stock in a transaction dated Wednesday, June 10th. The shares were acquired at an average price of $35.16 per share, for a total transaction of $263,700.00. Following the completion of the acquisition, the director owned 117,933 shares of the company’s stock, valued at $4,146,524.28. This represents a 6.79% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Mark Stephen Katz purchased 3,215 shares of the company’s stock in a transaction that occurred on Wednesday, June 3rd. The shares were acquired at an average cost of $31.07 per share, for a total transaction of $99,890.05. Following the completion of the transaction, the executive vice president directly owned 4,332 shares of the company’s stock, valued at $134,595.24. This trade represents a 287.82% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders acquired 130,715 shares of company stock worth $4,263,590 over the last quarter. Corporate insiders own 52.03% of the company’s stock.

Hedge Funds Weigh In On Ryan Specialty

Several institutional investors and hedge funds have recently bought and sold shares of RYAN. Qsemble Capital Management LP purchased a new stake in shares of Ryan Specialty in the fourth quarter worth approximately $2,823,000. Stephens Investment Management Group LLC grew its position in Ryan Specialty by 41.6% during the fourth quarter. Stephens Investment Management Group LLC now owns 1,929,094 shares of the company’s stock valued at $99,599,000 after purchasing an additional 566,610 shares in the last quarter. Mawer Investment Management Ltd. grew its position in Ryan Specialty by 11.9% during the fourth quarter. Mawer Investment Management Ltd. now owns 525,172 shares of the company’s stock valued at $27,115,000 after purchasing an additional 55,716 shares in the last quarter. Vulcan Value Partners LLC grew its position 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 purchasing an additional 3,989,502 shares in the last quarter. Finally, Equitable Trust Co. acquired a new position in Ryan Specialty in the 4th quarter valued at approximately $4,108,000. Hedge funds and other institutional investors own 84.82% of the company’s stock.

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.