Ryan Specialty (NYSE:RYAN) Price Target Raised to $45.00

Ryan Specialty (NYSE:RYAN) had its price target upped by JPMorgan Chase & Co. from $39.00 to $45.00 in a report published on Monday,Benzinga reports. The firm currently has an underweight rating on the stock.

A number of other analysts have also recently weighed in on the stock. UBS Group boosted their price objective on shares of Ryan Specialty from $50.00 to $55.00 and gave the stock a “buy” rating in a research note on Monday. Wolfe Research lowered shares of Ryan Specialty from an “outperform” rating to a “peer perform” rating in a research note on Thursday, July 9th. Piper Sandler lifted their target price on shares of Ryan Specialty from $44.00 to $48.00 and gave the stock a “neutral” rating in a report on Friday, July 31st. Keefe, Bruyette & Woods upped their price target on shares of Ryan Specialty from $48.00 to $54.00 and gave the company an “outperform” rating in a report on Friday, July 31st. Finally, Weiss Ratings restated a “sell (d+)” rating on shares of Ryan Specialty in a report on Friday, July 31st. Eight investment analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, Ryan Specialty currently has a consensus rating of “Hold” and a consensus price target of $53.42.

Ryan Specialty Stock Up 0.8%

Shares of RYAN stock opened at $44.97 on Monday. The stock’s 50 day simple moving average is $38.45 and its 200 day simple moving average is $38.21. 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 has a twelve month low of $29.28 and a twelve month high of $61.05. The company has a market capitalization of $11.86 billion, a price-to-earnings ratio of 62.46, a PEG ratio of 0.90 and a beta of 0.59.

Ryan Specialty (NYSE:RYAN) last announced its earnings results on Thursday, July 30th. The company reported $0.74 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.60 by $0.14. Ryan Specialty had a return on equity of 43.97% and a net margin of 7.55%.The firm had revenue of $916.65 million during the quarter, compared to analysts’ expectations of $873.93 million. During the same quarter in the prior year, the business earned $0.66 earnings per share. The company’s revenue was up 7.2% on a year-over-year basis. As a group, research analysts predict that Ryan Specialty will post 2.14 EPS for the current 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.

Ryan Specialty Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 25th. Stockholders of record on Tuesday, August 11th will be paid a $0.13 dividend. The ex-dividend date is Tuesday, August 11th. This represents a $0.52 annualized dividend and a dividend yield of 1.2%. Ryan Specialty’s dividend payout ratio (DPR) is presently 72.22%.

Insider Buying and Selling

In related news, Chairman Patrick G. Ryan bought 120,000 shares of the business’s stock in a transaction that occurred on Friday, June 5th. The stock was purchased at an average cost of $32.50 per share, for a total transaction of $3,900,000.00. Following the purchase, the chairman directly owned 13,817,859 shares in the company, valued at $449,080,417.50. This trade represents a 0.88% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Mark Stephen Katz purchased 3,215 shares of Ryan Specialty stock in a transaction on Wednesday, June 3rd. The stock was bought at an average cost of $31.07 per share, with a total value of $99,890.05. Following the completion of the acquisition, the executive vice president owned 4,332 shares in the company, valued at approximately $134,595.24. This trade represents a 287.82% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Over the last quarter, insiders have purchased 130,715 shares of company stock valued at $4,263,590. 52.03% of the stock is owned by company insiders.

Institutional Inflows and Outflows

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