Ryan Specialty (NYSE:RYAN – Get Free Report) declared that its Board of Directors has initiated a share repurchase program on Tuesday, May 26th, RTT News reports. The company plans to buyback $300.00 million in outstanding shares. This buyback authorization allows the company to purchase up to 3.5% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s management believes its stock is undervalued.
Ryan Specialty Stock Performance
NYSE:RYAN traded down $0.33 during midday trading on Tuesday, reaching $32.35. The stock had a trading volume of 1,931,839 shares, compared to its average volume of 3,028,967. The firm has a fifty day simple moving average of $33.95 and a two-hundred day simple moving average of $43.93. Ryan Specialty has a 12-month low of $29.28 and a 12-month high of $72.50. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 2.90. The stock has a market cap of $8.55 billion, a P/E ratio of 42.01, a P/E/G ratio of 0.77 and a beta of 0.68.
Ryan Specialty (NYSE:RYAN – Get Free Report) last posted its quarterly earnings data on Thursday, April 30th. The company reported $0.47 earnings per share for the quarter, beating analysts’ consensus estimates of $0.43 by $0.04. Ryan Specialty had a net margin of 8.21% and a return on equity of 41.33%. The firm had revenue of $795.23 million for the quarter, compared to analyst estimates of $781.44 million. During the same period last year, the firm posted $0.39 EPS. Ryan Specialty’s quarterly revenue was up 15.2% on a year-over-year basis. On average, equities analysts expect that Ryan Specialty will post 2.05 EPS for the current year.
Ryan Specialty Dividend Announcement
Analysts Set New Price Targets
A number of brokerages have recently issued reports on RYAN. Royal Bank Of Canada began coverage on shares of Ryan Specialty in a research report on Tuesday, March 17th. They set an “outperform” rating and a $45.00 target price on the stock. 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 report on Thursday, April 9th. Citigroup lowered their target price on shares of Ryan Specialty from $55.00 to $50.00 and set a “buy” rating on the stock in a research report on Monday, May 4th. The Goldman Sachs Group restated a “buy” rating and set a $42.00 target price on shares of Ryan Specialty in a research report on Friday, May 1st. Finally, Wells Fargo & Company lowered shares of Ryan Specialty from an “overweight” rating to an “equal weight” rating and lowered their target price for the stock from $42.00 to $31.00 in a research report on Friday, May 1st. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, six have issued a Hold rating and three have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $46.76.
Check Out Our Latest Research Report on Ryan Specialty
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.
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