Ryan Specialty (NYSE:RYAN) Price Target Raised to $39.00 at Wells Fargo & Company

Ryan Specialty (NYSE:RYAN) had its target price hoisted by research analysts at Wells Fargo & Company from $31.00 to $39.00 in a research report issued on Thursday,Benzinga reports. The firm currently has an “equal weight” rating on the stock. Wells Fargo & Company‘s price objective would suggest a potential downside of 4.47% from the stock’s current price.

Other equities research analysts have also recently issued research reports about the company. Piper Sandler cut their price target on Ryan Specialty from $43.00 to $35.00 and set a “neutral” rating on the stock in a report on Friday, May 1st. Wolfe Research lowered shares of Ryan Specialty from an “outperform” rating to a “peer perform” rating in a research note on Thursday. Mizuho lifted their price objective on shares of Ryan Specialty from $35.00 to $39.00 and gave the stock a “neutral” rating in a research report on Thursday. Morgan Stanley increased their target price on Ryan Specialty from $39.00 to $42.00 and gave the company an “overweight” rating in a report on Monday. Finally, Weiss Ratings reiterated 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 given a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, Ryan Specialty presently has a consensus rating of “Hold” and an average target price of $48.59.

Ryan Specialty Stock Performance

Shares of Ryan Specialty stock traded down $0.47 during trading hours on Thursday, reaching $40.83. The company’s stock had a trading volume of 492,678 shares, compared to its average volume of 2,346,874. Ryan Specialty has a one year low of $29.28 and a one year high of $67.69. The company’s 50 day simple moving average is $34.42 and its 200 day simple moving average is $39.48. 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 stock has a market cap of $10.76 billion, a P/E ratio of 52.94, a price-to-earnings-growth ratio of 1.00 and a beta of 0.61.

Ryan Specialty (NYSE:RYAN) last released its quarterly earnings data on Thursday, April 30th. The company reported $0.47 earnings per share for the quarter, topping 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 for the quarter, compared to analyst estimates of $781.44 million. During the same quarter in the prior year, the business earned $0.39 earnings per share. Ryan Specialty’s quarterly revenue was up 15.2% on a year-over-year basis. As a group, analysts expect that Ryan Specialty will post 2.05 EPS for the current fiscal year.

Ryan Specialty declared that its board has approved a share buyback plan on Tuesday, May 26th that permits the company to repurchase $300.00 million in outstanding shares. This repurchase authorization permits the company to reacquire up to 3.5% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s leadership believes its stock is undervalued.

Insider Activity at Ryan Specialty

In other Ryan Specialty news, EVP Mark Stephen Katz acquired 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, for a total transaction of $99,890.05. Following the completion of the purchase, the executive vice president owned 4,332 shares of the company’s stock, valued at approximately $134,595.24. This trade represents a 287.82% increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, 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 acquired at an average cost of $32.50 per share, with a total value of $3,900,000.00. Following the transaction, 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 SEC filing for this purchase provides additional information. In the last three months, insiders have bought 130,715 shares of company stock worth $4,263,590. 52.03% of the stock is owned by insiders.

Institutional Investors Weigh In On Ryan Specialty

Several hedge funds have recently modified their holdings of the business. Vulcan Value Partners LLC increased its position in shares of Ryan Specialty by 631.7% during the 4th quarter. Vulcan Value Partners LLC now owns 4,621,079 shares of the company’s stock worth $238,536,000 after purchasing an additional 3,989,502 shares in the last quarter. T. Rowe Price Investment Management Inc. grew its position in Ryan Specialty by 79.9% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 7,552,002 shares of the company’s stock worth $389,910,000 after acquiring an additional 3,353,926 shares during the last quarter. Independent Franchise Partners LLP bought a new position in Ryan Specialty in the 3rd quarter valued at $95,798,000. Adage Capital Partners GP L.L.C. boosted its stake in Ryan Specialty by 1,510.0% in the fourth quarter. Adage Capital Partners GP L.L.C. now owns 1,610,000 shares of the company’s stock worth $83,124,000 after purchasing an additional 1,510,000 shares in the last quarter. Finally, Norges Bank acquired a new position in Ryan Specialty in the fourth quarter worth $60,546,000. 84.82% of the stock is owned by 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.