Ryan Specialty (NYSE:RYAN) Price Target Raised to $43.00

Ryan Specialty (NYSE:RYAN) had its price objective raised by Wells Fargo & Company from $39.00 to $43.00 in a research report report published on Monday morning,Benzinga reports. The firm currently has an equal weight rating on the stock.

RYAN has been the subject of a number of other reports. Piper Sandler lifted their price target on shares of Ryan Specialty from $44.00 to $48.00 and gave the company a “neutral” rating in a research report on Friday, July 31st. UBS Group dropped their price objective on Ryan Specialty from $52.00 to $50.00 and set a “buy” rating for the company in a research note on Wednesday, July 8th. Keefe, Bruyette & Woods raised their price objective on Ryan Specialty from $48.00 to $54.00 and gave the company an “outperform” rating in a research note on Friday, July 31st. Citigroup lifted their price objective on Ryan Specialty from $50.00 to $53.50 and gave the stock a “buy” rating in a report on Monday. Finally, Bank of America decreased their target price on Ryan Specialty from $70.00 to $68.00 and set a “buy” rating on the stock in a research report on Tuesday, April 14th. Eight investment analysts have rated the stock with a Buy rating, nine have issued a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $53.42.

Ryan Specialty Price Performance

Shares of NYSE:RYAN opened at $44.97 on Monday. The company has a 50-day simple moving average of $38.45 and a 200-day simple moving average of $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. The stock 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 has a one year low of $29.28 and a one year high of $61.05.

Ryan Specialty (NYSE:RYAN) last announced its quarterly earnings data on Thursday, July 30th. The company reported $0.74 earnings per share (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 analysts’ expectations of $873.93 million. Ryan Specialty had a net margin of 7.55% and a return on equity of 43.97%. Ryan Specialty’s revenue was up 7.2% compared to the same quarter last year. During the same period in the previous year, the company posted $0.66 EPS. On average, 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 stock buyback 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 generally a sign that the company’s board of directors believes its stock is undervalued.

Ryan Specialty Dividend Announcement

The firm 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 dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date of this dividend is Tuesday, August 11th. Ryan Specialty’s dividend payout ratio (DPR) is 72.22%.

Insider Activity at Ryan Specialty

In related news, Chairman Patrick G. Ryan purchased 120,000 shares of the company’s stock in a transaction on Friday, June 5th. The stock was bought at an average price of $32.50 per share, with a total value of $3,900,000.00. Following the completion of the transaction, the chairman owned 13,817,859 shares of the company’s stock, valued at approximately $449,080,417.50. This represents a 0.88% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director John W. Rogers, Jr. purchased 7,500 shares of the business’s stock in a transaction dated Wednesday, June 10th. The stock was bought at an average cost of $35.16 per share, with a total value 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 ownership of the stock. The disclosure for this purchase is available in the SEC filing. In the last 90 days, insiders have purchased 130,715 shares of company stock valued at $4,263,590. 52.03% of the stock is owned by corporate insiders.

Institutional Trading of Ryan Specialty

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Qsemble Capital Management LP purchased a new position in shares of Ryan Specialty during the fourth quarter valued at approximately $2,823,000. Stephens Investment Management Group LLC grew its stake in Ryan Specialty by 41.6% in the 4th quarter. Stephens Investment Management Group LLC now owns 1,929,094 shares of the company’s stock worth $99,599,000 after acquiring an additional 566,610 shares during the period. Mawer Investment Management Ltd. grew its stake in Ryan Specialty by 11.9% in the 4th quarter. Mawer Investment Management Ltd. now owns 525,172 shares of the company’s stock worth $27,115,000 after acquiring an additional 55,716 shares during the period. Vulcan Value Partners LLC raised its holdings in Ryan Specialty by 631.7% in the 4th quarter. Vulcan Value Partners LLC now owns 4,621,079 shares of the company’s stock valued at $238,536,000 after acquiring an additional 3,989,502 shares during the last quarter. Finally, Equitable Trust Co. acquired a new position in Ryan Specialty in the 4th quarter valued at $4,108,000. 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.