Zacks Research Upgrades Ryan Specialty (NYSE:RYAN) to “Hold”

Ryan Specialty (NYSE:RYAN) was upgraded by stock analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a report released on Tuesday,Zacks.com reports.

Several other analysts also recently commented on the company. Barclays lowered their price objective on Ryan Specialty from $41.00 to $39.00 and set an “overweight” rating for the company in a research note on Friday, May 1st. Royal Bank Of Canada started coverage on Ryan Specialty in a research report on Tuesday, March 17th. They set an “outperform” rating and a $45.00 target price on the stock. The Goldman Sachs Group upped their price target on Ryan Specialty from $35.00 to $40.00 and gave the stock a “neutral” rating in a report on Wednesday. Mizuho set a $35.00 price target on Ryan Specialty in a report on Friday, May 1st. Finally, Morgan Stanley lowered their price target on Ryan Specialty from $45.00 to $39.00 and set an “overweight” rating for the company in a research report on Thursday, May 21st. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, eight have given a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $47.41.

Ryan Specialty Trading Up 6.0%

NYSE:RYAN opened at $40.02 on Tuesday. The company has a debt-to-equity ratio of 2.90, a current ratio of 1.02 and a quick ratio of 1.02. The firm has a 50-day moving average of $33.84 and a 200-day moving average of $39.91. The company has a market cap of $10.55 billion, a PE ratio of 51.98, a PEG ratio of 0.91 and a beta of 0.61. Ryan Specialty has a one year low of $29.28 and a one 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, topping 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 company had revenue of $795.23 million for the quarter, compared to analyst estimates of $781.44 million. During the same quarter in the prior year, the business posted $0.39 EPS. The firm’s revenue was up 15.2% compared to the same quarter last year. As a group, equities research analysts expect 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 permits the company to buyback $300.00 million in outstanding shares. This buyback authorization permits the company to reacquire up to 3.5% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s leadership believes its shares are undervalued.

Insider Transactions at Ryan Specialty

In other Ryan Specialty news, EVP Mark Stephen Katz purchased 3,215 shares of the firm’s stock in a transaction that occurred 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 transaction, the executive vice president owned 4,332 shares of the company’s stock, valued at $134,595.24. The trade was a 287.82% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Chairman Patrick G. Ryan purchased 120,000 shares of the company’s stock in a transaction that occurred on Friday, June 5th. The shares were acquired at an average price of $32.50 per share, for a total transaction 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 trade represents a 0.88% increase in their position. The SEC filing for this purchase provides additional information. Insiders have acquired 130,715 shares of company stock worth $4,263,590 in the last 90 days. Insiders own 52.03% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Public Employees Retirement System of Ohio increased 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 purchasing an additional 203 shares during the last quarter. Covestor Ltd boosted its holdings in shares of Ryan Specialty by 16.8% in the 4th quarter. Covestor Ltd now owns 1,467 shares of the company’s stock worth $76,000 after buying an additional 211 shares during the last quarter. Northwestern Mutual Investment Management Company LLC grew 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 valued at $1,309,000 after buying an additional 240 shares during the period. Federation des caisses Desjardins du Quebec grew 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 valued at $171,000 after buying an additional 240 shares during the period. Finally, Snowden Capital Advisors LLC grew 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 valued at $1,437,000 after buying an additional 264 shares during the period. Hedge funds and other institutional investors own 84.82% of the company’s stock.

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.