Ryan Specialty (NYSE:RYAN) Stock Price Expected to Rise, JPMorgan Chase & Co. Analyst Says

Ryan Specialty (NYSE:RYAN) had its price target hoisted by JPMorgan Chase & Co. from $39.00 to $45.00 in a report released on Monday,Benzinga reports. The brokerage presently has an “underweight” rating on the stock. JPMorgan Chase & Co.‘s price target points to a potential upside of 1.64% from the company’s current price.

Several other research analysts also recently commented on RYAN. Royal Bank Of Canada lifted their target price on Ryan Specialty from $45.00 to $55.00 and gave the stock an “outperform” rating in a research note on Friday. UBS Group reaffirmed a “buy” rating and issued a $55.00 price objective on shares of Ryan Specialty in a research note on Monday. Wells Fargo & Company increased their target price on shares of Ryan Specialty from $39.00 to $43.00 and gave the stock an “equal weight” rating in a report on Monday. Citigroup restated a “buy” rating on shares of Ryan Specialty in a research note on Monday. Finally, Keefe, Bruyette & Woods increased their price objective on shares of Ryan Specialty from $48.00 to $54.00 and gave the company an “outperform” rating in a research note on Friday. Eight equities research analysts have rated the stock with a Buy rating, nine have given a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $53.22.

Ryan Specialty Stock Up 0.3%

Shares of RYAN stock traded up $0.12 on Monday, hitting $44.27. 671,188 shares of the stock were exchanged, compared to its average volume of 2,319,571. Ryan Specialty has a fifty-two week low of $29.28 and a fifty-two week high of $61.05. The company has a current ratio of 1.00, a quick ratio of 1.02 and a debt-to-equity ratio of 3.51. The business has a 50-day moving average of $37.74 and a 200 day moving average of $38.34. The firm has a market capitalization of $11.67 billion, a P/E ratio of 61.42, a price-to-earnings-growth ratio of 0.95 and a beta of 0.61.

Ryan Specialty (NYSE:RYAN) last issued its quarterly earnings results on Thursday, July 30th. The company reported $0.74 EPS for the quarter, topping the consensus estimate of $0.60 by $0.14. The firm 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%. The company’s revenue for the quarter was up 7.2% on a year-over-year basis. During the same period in the previous year, the firm posted $0.66 EPS. Equities analysts anticipate that Ryan Specialty will post 2.08 EPS for the current year.

Ryan Specialty declared that its Board of Directors has initiated a share repurchase plan on Tuesday, May 26th that allows the company to repurchase $300.00 million in outstanding shares. This repurchase authorization allows the company to purchase up to 3.5% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board of directors believes its shares are undervalued.

Insiders Place Their Bets

In other Ryan Specialty news, EVP Mark Stephen Katz purchased 3,215 shares of the business’s stock in a transaction on Wednesday, June 3rd. The shares were purchased at an average cost of $31.07 per share, for a total transaction of $99,890.05. Following the acquisition, the executive vice president 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Patrick G. Ryan purchased 120,000 shares of Ryan Specialty 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 acquisition, the chairman directly owned 13,817,859 shares of the company’s stock, valued at approximately $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. Over the last three months, insiders acquired 130,715 shares of company stock worth $4,263,590. 52.03% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

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