JPMorgan Chase & Co. Issues Positive Forecast for Ryan Specialty (NYSE:RYAN) Stock Price

Key Points

• JPMorgan raised its price target on Ryan Specialty from $37 to $39, but kept an underweight rating and still sees about 6% downside from the prior close.
• Analyst views remain mixed overall: the stock has an average Hold rating and a consensus price target of $48.35, with multiple firms recently adjusting targets and recommendations in both directions.
• Ryan Specialty reported solid recent results, beating earnings and revenue estimates in its latest quarter, while also announcing a $300 million share repurchase plan and seeing notable insider buying.

Ryan Specialty (NYSE:RYAN - Get Free Report) had its price target raised by research analysts at JPMorgan Chase & Co. from $37.00 to $39.00 in a research report issued on Monday,Benzinga reports. The firm presently has an "underweight" rating on the stock. JPMorgan Chase & Co.'s price objective indicates a potential downside of 6.04% from the stock's previous close.

Other equities analysts also recently issued research reports about the stock. Bank of America cut their price objective on shares of Ryan Specialty from $70.00 to $68.00 and set a "buy" rating for the company in a research report on Tuesday, April 14th. Barclays boosted their price target on shares of Ryan Specialty from $39.00 to $46.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 7th. Cantor Fitzgerald increased their price target on shares of Ryan Specialty from $33.00 to $34.00 and gave the stock a "neutral" rating in a report on Thursday. Morgan Stanley raised their price objective on shares of Ryan Specialty from $39.00 to $42.00 and gave the company an "overweight" rating in a research report on Monday, July 6th. Finally, Wells Fargo & Company lifted their price objective on Ryan Specialty from $31.00 to $39.00 and gave the company an "equal weight" rating in a report on Thursday. Eight 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 MarketBeat, the company currently has an average rating of "Hold" and an average price target of $48.35.

Ryan Specialty Stock Performance

RYAN traded up $1.10 during trading on Monday, hitting $41.51. 336,467 shares of the stock were exchanged, compared to its average volume of 2,331,014. The firm has a market capitalization of $10.94 billion, a P/E ratio of 53.96, a PEG ratio of 0.97 and a beta of 0.61. Ryan Specialty has a 1-year low of $29.28 and a 1-year high of $67.69. The stock has a fifty day moving average price of $34.64 and a two-hundred day moving average price of $39.31. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 2.90.

Ryan Specialty (NYSE:RYAN - Get Free Report) last issued its quarterly earnings results on Thursday, April 30th. The company reported $0.47 earnings per share for the quarter, topping analysts' consensus estimates 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 analysts' expectations of $781.44 million. During the same quarter in the prior year, the business earned $0.39 EPS. Ryan Specialty's quarterly revenue was up 15.2% compared to the same quarter last year. As a group, sell-side analysts predict that Ryan Specialty will post 2.05 earnings per share for the current year.

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

Insider Buying and Selling at Ryan Specialty

In other Ryan Specialty news, Director John W. Rogers, Jr. acquired 7,500 shares of the company's stock in a transaction on Wednesday, June 10th. The shares were bought at an average cost of $35.16 per share, for a total transaction of $263,700.00. Following the acquisition, the director directly owned 117,933 shares of the company's stock, valued at $4,146,524.28. This trade represents a 6.79% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Mark Stephen Katz acquired 3,215 shares of Ryan Specialty stock in a transaction on Wednesday, June 3rd. The shares were bought at an average price of $31.07 per share, for a total transaction of $99,890.05. Following the completion of the purchase, the executive vice president directly owned 4,332 shares in the company, 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 acquired a total of 130,715 shares of company stock worth $4,263,590 in the last 90 days. 52.03% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Ryan Specialty

A number of institutional investors have recently made changes to their positions in the company. Los Angeles Capital Management LLC bought a new position in Ryan Specialty during the fourth quarter worth $25,000. Advisory Services Network LLC acquired a new stake in Ryan Specialty during the third quarter worth about $28,000. SBI Securities Co. Ltd. lifted its holdings in Ryan Specialty by 6,322.2% in the fourth quarter. SBI Securities Co. Ltd. now owns 578 shares of the company's stock worth $30,000 after acquiring an additional 569 shares during the last quarter. Parallel Advisors LLC boosted its stake in Ryan Specialty by 54.9% in the first 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 period. Finally, Caitong International Asset Management Co. Ltd grew its holdings in shares of Ryan Specialty by 173.7% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 709 shares of the company's stock valued at $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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