Ryan Specialty (NYSE:RYAN – Free Report) had its price target hoisted by Cantor Fitzgerald from $34.00 to $41.00 in a report published on Monday, Marketbeat Ratings reports. The brokerage currently has a neutral rating on the stock.
A number of other equities research analysts have also recently issued reports on the stock. Wells Fargo & Company lifted their price target on shares of Ryan Specialty from $31.00 to $39.00 and gave the company an “equal weight” rating in a research note on Thursday, July 9th. Mizuho upped their price objective on shares of Ryan Specialty from $39.00 to $48.00 and gave the stock a “neutral” rating in a research report on Friday, July 31st. The Goldman Sachs Group increased their price objective on shares of Ryan Specialty from $40.00 to $45.00 and gave the company a “neutral” rating in a report on Friday, July 31st. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Ryan Specialty in a report on Friday, July 31st. Finally, Royal Bank Of Canada lifted their target price on shares of Ryan Specialty from $45.00 to $55.00 and gave the company an “outperform” rating in a research report on Friday, July 31st. Eight equities research analysts have rated the stock with a Buy rating, nine have given a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $53.42.
Check Out Our Latest Research Report on RYAN
Ryan Specialty Stock Performance
Ryan Specialty (NYSE:RYAN – Get Free Report) last issued its quarterly earnings data on Thursday, July 30th. The company reported $0.74 EPS for the quarter, beating the consensus estimate of $0.60 by $0.14. The company had revenue of $916.65 million for 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%.Ryan Specialty’s quarterly revenue was up 7.2% compared to the same quarter last year. During the same period last year, the company earned $0.66 earnings per share. Analysts expect that Ryan Specialty will post 2.14 EPS for the current fiscal year.
Ryan Specialty announced that its Board of Directors has approved a stock buyback program on Tuesday, May 26th that permits the company to buyback $300.00 million in shares. This buyback authorization permits the company to purchase up to 3.5% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board believes its shares are undervalued.
Ryan Specialty Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Tuesday, August 25th. Investors of record on Tuesday, August 11th will be given a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a dividend yield of 1.2%. The ex-dividend date is Tuesday, August 11th. Ryan Specialty’s payout ratio is presently 72.22%.
Insider Activity at Ryan Specialty
In other Ryan Specialty news, Chairman Patrick G. Ryan bought 120,000 shares of the company’s stock in a transaction dated Friday, June 5th. The stock was acquired at an average price of $32.50 per share, with a total value of $3,900,000.00. Following the completion of the acquisition, the chairman directly owned 13,817,859 shares of the company’s stock, valued at $449,080,417.50. This represents a 0.88% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Mark Stephen Katz bought 3,215 shares of the company’s stock in a transaction dated Wednesday, June 3rd. The shares were acquired at an average cost of $31.07 per share, with a total value of $99,890.05. Following the acquisition, the executive vice president directly owned 4,332 shares of the company’s stock, valued at approximately $134,595.24. This represents a 287.82% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. In the last ninety days, insiders bought 130,715 shares of company stock valued at $4,263,590. 52.03% of the stock is owned by insiders.
Hedge Funds Weigh In On Ryan Specialty
Hedge funds and other institutional investors have recently modified their holdings of the business. Public Employees Retirement System of Ohio boosted its position in shares of Ryan Specialty by 0.6% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 32,797 shares of the company’s stock valued at $1,848,000 after acquiring an additional 203 shares during the last quarter. Covestor Ltd grew its holdings in shares of Ryan Specialty by 16.8% in the fourth quarter. Covestor Ltd now owns 1,467 shares of the company’s stock valued at $76,000 after purchasing an additional 211 shares during the period. Northwestern Mutual Investment Management Company LLC increased its position in Ryan Specialty by 1.0% during the fourth quarter. Northwestern Mutual Investment Management Company LLC now owns 25,355 shares of the company’s stock worth $1,309,000 after purchasing an additional 240 shares during the last quarter. Federation des caisses Desjardins du Quebec increased its position in Ryan Specialty by 7.8% during the fourth quarter. Federation des caisses Desjardins du Quebec now owns 3,313 shares of the company’s stock worth $171,000 after purchasing an additional 240 shares during the last quarter. Finally, Snowden Capital Advisors LLC increased its position in Ryan Specialty by 1.3% during the second quarter. Snowden Capital Advisors LLC now owns 21,135 shares of the company’s stock worth $1,437,000 after purchasing an additional 264 shares during the last quarter. 84.82% of the stock is owned by hedge funds and other institutional investors.
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.
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