Ryan Specialty (NYSE:RYAN) Price Target Raised to $48.00 at Keefe, Bruyette & Woods

Ryan Specialty (NYSE:RYAN) had its price target boosted by stock analysts at Keefe, Bruyette & Woods from $44.00 to $48.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm presently has an “outperform” rating on the stock. Keefe, Bruyette & Woods’ target price would suggest a potential upside of 14.06% from the company’s current price.

Other equities analysts also recently issued research reports about the company. The Goldman Sachs Group increased their price target on Ryan Specialty from $35.00 to $40.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 1st. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Ryan Specialty in a report on Monday, May 4th. Bank of America cut their target price on shares of Ryan Specialty from $70.00 to $68.00 and set a “buy” rating for the company in a research note on Tuesday, April 14th. UBS Group increased their target price on Ryan Specialty from $51.00 to $52.00 and gave the company a “buy” rating in a report on Tuesday, June 9th. Finally, Cantor Fitzgerald lowered their target price on shares of Ryan Specialty from $45.00 to $40.00 and set a “neutral” rating on the stock in a research note on Thursday, April 9th. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, eight have given a Hold rating and two have given a Sell rating to the company. According to MarketBeat, Ryan Specialty presently has a consensus rating of “Hold” and an average price target of $48.35.

Ryan Specialty Stock Performance

NYSE:RYAN traded up $0.50 during mid-day trading on Wednesday, hitting $42.08. The company’s stock had a trading volume of 477,809 shares, compared to its average volume of 2,350,774. The stock has a market cap of $11.10 billion, a price-to-earnings ratio of 54.59, a PEG ratio of 0.99 and a beta of 0.61. The business’s fifty day moving average is $34.29 and its two-hundred day moving average is $39.57. The company has a debt-to-equity ratio of 2.90, a current ratio of 1.02 and a quick ratio of 1.02. Ryan Specialty has a 1 year low of $29.28 and a 1 year high of $67.69.

Ryan Specialty (NYSE:RYAN) last posted its earnings results on Thursday, April 30th. The company reported $0.47 earnings per share for the quarter, beating the consensus estimate of $0.43 by $0.04. The firm had revenue of $795.23 million during the quarter, compared to analyst estimates of $781.44 million. Ryan Specialty had a net margin of 8.21% and a return on equity of 41.33%. The business’s quarterly revenue was up 15.2% on a year-over-year basis. During the same period in the previous year, the firm earned $0.39 EPS. Analysts anticipate that Ryan Specialty will post 2.06 EPS for the current fiscal year.

Ryan Specialty declared that its board has approved a stock buyback program on Tuesday, May 26th that authorizes the company to buyback $300.00 million in shares. This buyback authorization authorizes the company to repurchase up to 3.5% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s board of directors believes its stock is undervalued.

Insider Buying and Selling

In other news, Chairman Patrick G. Ryan acquired 120,000 shares of the company’s stock in a transaction on 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 owned 13,817,859 shares in the company, valued at approximately $449,080,417.50. This trade represents a 0.88% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Mark Stephen Katz purchased 3,215 shares of the business’s stock in a transaction on Wednesday, June 3rd. The stock was acquired at an average price of $31.07 per share, for a total transaction of $99,890.05. Following the completion of the purchase, the executive vice president owned 4,332 shares of the company’s stock, valued at $134,595.24. This represents a 287.82% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders bought 130,715 shares of company stock worth $4,263,590 over the last 90 days. 52.03% of the stock is owned by insiders.

Hedge Funds Weigh In On Ryan Specialty

Institutional investors have recently bought and sold shares of the company. Royal Bank of Canada increased its stake in shares of Ryan Specialty by 10.6% during the first quarter. Royal Bank of Canada now owns 59,639 shares of the company’s stock worth $4,406,000 after acquiring an additional 5,739 shares during the period. AQR Capital Management LLC lifted its stake in shares of Ryan Specialty by 25.1% in the first quarter. AQR Capital Management LLC now owns 4,972 shares of the company’s stock valued at $367,000 after purchasing an additional 998 shares during the period. Goldman Sachs Group Inc. grew its position in Ryan Specialty by 46.3% during the first quarter. Goldman Sachs Group Inc. now owns 376,154 shares of the company’s stock worth $27,787,000 after buying an additional 119,055 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in shares of Ryan Specialty by 11.3% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 332,823 shares of the company’s stock worth $24,586,000 after acquiring an additional 33,667 shares during the period. Finally, Creative Planning grew its holdings in Ryan Specialty by 15.4% in the second quarter. Creative Planning now owns 4,586 shares of the company’s stock valued at $312,000 after purchasing an additional 613 shares during the last quarter. 84.82% of the stock is owned by institutional investors and hedge funds.

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.