Ryan Specialty (NYSE:RYAN) Downgraded to Peer Perform Rating by Wolfe Research

Ryan Specialty (NYSE:RYAN) was downgraded by stock analysts at Wolfe Research from an “outperform” rating to a “peer perform” rating in a research report issued on Thursday, MarketBeat reports.

A number of other analysts have also commented on the company. Mizuho set a $35.00 price target on Ryan Specialty in a report on Friday, May 1st. Royal Bank Of Canada began coverage on Ryan Specialty in a research report on Tuesday, March 17th. They set an “outperform” rating and a $45.00 target price for the company. Wells Fargo & Company downgraded shares of Ryan Specialty from an “overweight” rating to an “equal weight” rating and cut their price target for the stock from $42.00 to $31.00 in a report on Friday, May 1st. UBS Group reduced their price target on shares of Ryan Specialty from $52.00 to $50.00 and set a “buy” rating for the company in a research report on Wednesday. Finally, Weiss Ratings restated a “sell (d+)” rating on shares of Ryan Specialty in a report on Monday, May 4th. Eight investment analysts have rated the stock with a Buy rating, nine have issued a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, Ryan Specialty presently has an average rating of “Hold” and an average price target of $48.24.

Ryan Specialty Stock Down 0.8%

Ryan Specialty stock opened at $41.27 on Thursday. Ryan Specialty has a fifty-two week low of $29.28 and a fifty-two week high of $67.69. The company has a debt-to-equity ratio of 2.90, a quick ratio of 1.02 and a current ratio of 1.02. The firm’s 50-day simple moving average is $34.42 and its 200 day simple moving average is $39.48. The stock has a market cap of $10.88 billion, a PE ratio of 53.59, a price-to-earnings-growth ratio of 1.00 and a beta of 0.61.

Ryan Specialty (NYSE:RYAN) last posted its quarterly earnings data on Thursday, April 30th. The company reported $0.47 EPS for the quarter, beating the consensus estimate 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 during the quarter, compared to analyst estimates of $781.44 million. During the same quarter last year, the business posted $0.39 EPS. The company’s revenue for the quarter was up 15.2% on a year-over-year basis. Research analysts predict that Ryan Specialty will post 2.05 EPS for the current fiscal year.

Ryan Specialty declared that its Board of Directors has approved a share repurchase plan 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 plans are often a sign that the company’s board of directors believes its shares are undervalued.

Insider Transactions at Ryan Specialty

In other news, Director John W. Rogers, Jr. acquired 7,500 shares of the firm’s stock in a transaction that occurred on Wednesday, June 10th. The stock was bought at an average price of $35.16 per share, with a total value of $263,700.00. Following the acquisition, the director owned 117,933 shares in the company, valued at $4,146,524.28. The trade was a 6.79% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Chairman Patrick G. Ryan acquired 120,000 shares of the stock in a transaction that occurred on Friday, June 5th. The stock was purchased at an average price of $32.50 per share, for a total transaction of $3,900,000.00. Following the completion of the purchase, the chairman directly owned 13,817,859 shares in the company, valued at $449,080,417.50. This trade represents a 0.88% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. In the last 90 days, insiders bought 130,715 shares of company stock worth $4,263,590. 52.03% of the stock is owned by company insiders.

Institutional Trading of Ryan Specialty

A number of institutional investors have recently modified their holdings of RYAN. Royal Bank of Canada grew its stake in Ryan Specialty by 10.6% in the 1st quarter. Royal Bank of Canada now owns 59,639 shares of the company’s stock valued at $4,406,000 after buying an additional 5,739 shares in the last quarter. AQR Capital Management LLC boosted its holdings in shares of Ryan Specialty by 25.1% in the first quarter. AQR Capital Management LLC now owns 4,972 shares of the company’s stock worth $367,000 after acquiring an additional 998 shares during the period. Goldman Sachs Group Inc. boosted its holdings in shares of Ryan Specialty by 46.3% in the first quarter. Goldman Sachs Group Inc. now owns 376,154 shares of the company’s stock worth $27,787,000 after acquiring an additional 119,055 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in shares of Ryan Specialty by 11.3% in 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 valued at $24,586,000 after purchasing an additional 33,667 shares in the last quarter. Finally, Creative Planning raised its stake in shares of Ryan Specialty by 15.4% during the 2nd quarter. Creative Planning now owns 4,586 shares of the company’s stock valued at $312,000 after purchasing an additional 613 shares during the period. 84.82% of the stock is currently owned by hedge funds and other institutional investors.

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.