Ryan Specialty (NYSE:RYAN) Price Target Raised to $39.00 at Mizuho

Ryan Specialty (NYSE:RYANGet Free Report) had its target price lifted by equities researchers at Mizuho from $35.00 to $39.00 in a note issued to investors on Thursday,Benzinga reports. The firm currently has a “neutral” rating on the stock. Mizuho’s price objective points to a potential downside of 4.02% from the stock’s previous close.

Several other equities research analysts have also recently commented on RYAN. Citigroup cut their target price on Ryan Specialty from $55.00 to $50.00 and set a “buy” rating on the stock in a research note on Monday, May 4th. Weiss Ratings reiterated a “sell (d+)” rating on shares of Ryan Specialty in a report on Monday, May 4th. UBS Group reduced their price objective on shares of Ryan Specialty from $52.00 to $50.00 and set a “buy” rating for the company in a research note on Wednesday. Zacks Research raised shares of Ryan Specialty from a “strong sell” rating to a “hold” rating in a research report on Tuesday, June 30th. Finally, Royal Bank Of Canada began coverage on shares of Ryan Specialty in a research report on Tuesday, March 17th. They issued an “outperform” rating and a $45.00 price objective on the stock. 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. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $48.47.

Read Our Latest Stock Analysis on Ryan Specialty

Ryan Specialty Price Performance

RYAN stock opened at $40.63 on Thursday. The stock has a 50-day moving average price of $34.42 and a two-hundred day moving average price of $39.48. The stock has a market cap of $10.71 billion, a PE ratio of 52.89, a price-to-earnings-growth ratio of 1.00 and a beta of 0.61. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 2.90. Ryan Specialty has a 1 year low of $29.28 and a 1 year high of $67.69.

Ryan Specialty (NYSE:RYANGet Free Report) last issued its quarterly earnings results on Thursday, April 30th. The company reported $0.47 EPS for the quarter, beating analysts’ consensus estimates of $0.43 by $0.04. The company had revenue of $795.23 million for the quarter, compared to analyst estimates of $781.44 million. Ryan Specialty had a return on equity of 41.33% and a net margin of 8.21%.The company’s quarterly revenue was up 15.2% compared to the same quarter last year. During the same period in the previous year, the company posted $0.39 earnings per share. Equities analysts forecast that Ryan Specialty will post 2.05 EPS for the current fiscal year.

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

Insider Activity

In other news, Chairman Patrick G. Ryan acquired 120,000 shares of the business’s stock in a transaction that occurred on Friday, June 5th. The shares were bought at an average price of $32.50 per share, with a total value of $3,900,000.00. Following the acquisition, the chairman directly owned 13,817,859 shares in the company, valued at $449,080,417.50. The trade was a 0.88% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director John W. Rogers, Jr. purchased 7,500 shares of Ryan Specialty stock in a transaction dated Wednesday, June 10th. The shares were purchased 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 approximately $4,146,524.28. The trade was a 6.79% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. In the last ninety days, insiders bought 130,715 shares of company stock worth $4,263,590. Insiders own 52.03% of the company’s stock.

Hedge Funds Weigh In On Ryan Specialty

Several institutional investors have recently made changes to their positions in RYAN. Royal Bank of Canada raised its stake in Ryan Specialty by 10.6% during the 1st quarter. Royal Bank of Canada now owns 59,639 shares of the company’s stock worth $4,406,000 after buying an additional 5,739 shares during the period. AQR Capital Management LLC increased its holdings in shares of Ryan Specialty by 25.1% during the first quarter. AQR Capital Management LLC now owns 4,972 shares of the company’s stock valued at $367,000 after acquiring an additional 998 shares in the last quarter. Goldman Sachs Group Inc. raised 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 worth $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 raised 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 worth $24,586,000 after purchasing an additional 33,667 shares during the period. Finally, Creative Planning lifted its holdings in shares of Ryan Specialty by 15.4% in the 2nd quarter. Creative Planning now owns 4,586 shares of the company’s stock worth $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.

About Ryan Specialty

(Get Free Report)

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.

See Also

Analyst Recommendations for Ryan Specialty (NYSE:RYAN)

Receive News & Ratings for Ryan Specialty Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ryan Specialty and related companies with MarketBeat.com's FREE daily email newsletter.