Cantor Fitzgerald Raises Ryan Specialty (NYSE:RYAN) Price Target to $41.00

Key Points

• Cantor Fitzgerald raised Ryan Specialty’s price target from $34 to $41 while maintaining a “neutral” rating; the new target implies 7.36% downside from the stock’s reported $44.26 price.
• Analyst opinion remains mixed, with a consensus “Hold” rating and average price target of $52.39. Recent firms including Keefe, Bruyette & Woods and RBC raised their targets and issued “outperform” ratings.
• Ryan Specialty exceeded quarterly expectations, reporting $0.74 EPS versus a $0.60 estimate and $916.65 million in revenue, up 7.2% year over year. The company also authorized a $300 million share repurchase plan.

Ryan Specialty (NYSE:RYAN - Get Free Report) had its target price raised by stock analysts at Cantor Fitzgerald from $34.00 to $41.00 in a research note issued on Monday,Benzinga reports. The firm currently has a "neutral" rating on the stock. Cantor Fitzgerald's price target suggests a potential downside of 7.36% from the company's current price.

Several other research analysts have also recently weighed in on RYAN. UBS Group decreased their price target on shares of Ryan Specialty from $52.00 to $50.00 and set a "buy" rating on the stock in a report on Wednesday, July 8th. Keefe, Bruyette & Woods upped 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. Royal Bank Of Canada raised their price target on Ryan Specialty from $45.00 to $55.00 and gave the stock an "outperform" rating in a research report on Friday. Weiss Ratings restated a "sell (d+)" rating on shares of Ryan Specialty in a research report on Friday. Finally, Morgan Stanley boosted their target price on Ryan Specialty from $39.00 to $42.00 and gave the company an "overweight" rating in a research note on Monday, July 6th. Eight analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and two have given a Sell rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $52.39.

Ryan Specialty Price Performance

NYSE RYAN opened at $44.26 on Monday. The company has a market cap of $11.67 billion, a PE ratio of 61.47, a price-to-earnings-growth ratio of 0.95 and a beta of 0.61. The company has a quick ratio of 1.02, a current ratio of 1.00 and a debt-to-equity ratio of 3.51. The firm's 50-day simple moving average is $37.74 and its two-hundred day simple moving average is $38.34. Ryan Specialty has a 52 week low of $29.28 and a 52 week high of $61.85.

Ryan Specialty (NYSE:RYAN - Get Free Report) last released its quarterly earnings data on Thursday, July 30th. The company reported $0.74 EPS for the quarter, topping the consensus estimate of $0.60 by $0.14. Ryan Specialty had a net margin of 7.55% and a return on equity of 43.97%. The company had revenue of $916.65 million during the quarter, compared to the consensus estimate of $873.93 million. During the same period last year, the firm earned $0.66 EPS. Ryan Specialty's revenue for the quarter was up 7.2% on a year-over-year basis. Research analysts predict that Ryan Specialty will post 2.08 earnings per share for the current year.

Ryan Specialty announced that its board has authorized a share repurchase plan on Tuesday, May 26th that permits the company to buyback $300.00 million in shares. This buyback authorization permits the company to purchase up to 3.5% of its stock through open market purchases. Stock buyback plans are often an indication that the company's board believes its shares are undervalued.

Insider Activity at Ryan Specialty

In other news, Chairman Patrick G. Ryan acquired 120,000 shares of the firm's stock in a transaction that occurred on Friday, June 5th. The stock was bought at an average cost of $32.50 per share, for a total transaction of $3,900,000.00. Following the acquisition, the chairman directly owned 13,817,859 shares in the company, valued at approximately $449,080,417.50. The trade was a 0.88% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Mark Stephen Katz acquired 3,215 shares of the company's stock in a transaction that occurred on 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 transaction, the executive vice president directly owned 4,332 shares of the company's stock, valued at $134,595.24. The trade was a 287.82% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders bought 130,715 shares of company stock valued at $4,263,590 over the last 90 days. Corporate insiders own 52.03% of the company's stock.

Institutional Investors Weigh In On Ryan Specialty

A number of large investors have recently made changes to their positions in the company. Los Angeles Capital Management LLC bought a new stake in shares of Ryan Specialty during the 4th quarter valued at $25,000. Advisory Services Network LLC purchased a new stake in shares of Ryan Specialty during the third quarter worth about $28,000. SBI Securities Co. Ltd. raised its position in shares of Ryan Specialty by 6,322.2% during the fourth quarter. SBI Securities Co. Ltd. now owns 578 shares of the company's stock valued at $30,000 after buying an additional 569 shares during the last quarter. Parallel Advisors LLC increased its holdings in Ryan Specialty by 54.9% in the 1st quarter. Parallel Advisors LLC now owns 1,013 shares of the company's stock valued at $34,000 after acquiring an additional 359 shares during the last quarter. Finally, Caitong International Asset Management Co. Ltd increased its holdings in shares of Ryan Specialty by 173.7% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 709 shares of the company's stock worth $37,000 after purchasing an additional 450 shares during the last quarter. 84.82% of the stock is currently 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.

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