Keefe, Bruyette & Woods Boosts Ryan Specialty (NYSE:RYAN) Price Target to $48.00

Key Points

• Keefe, Bruyette & Woods raised its price target on Ryan Specialty to $48 from $44 and kept an outperform rating, implying about 14% upside from the current share price.
• The company recently posted better-than-expected Q1 results, with EPS of $0.47 versus $0.43 expected and revenue up 15.2% year over year to $795.23 million.
• Ryan Specialty’s board approved a $300 million share buyback, while insider buying has also been notable, with executives and directors purchasing shares in recent months.

Ryan Specialty (NYSE:RYAN - Get Free Report) had its price objective increased by investment analysts at Keefe, Bruyette & Woods from $44.00 to $48.00 in a research report issued on Wednesday,Benzinga reports. The firm currently has an "outperform" rating on the stock. Keefe, Bruyette & Woods' price objective suggests a potential upside of 14.06% from the company's current price.

RYAN has been the subject of a number of other research reports. Wells Fargo & Company cut Ryan Specialty from an "overweight" rating to an "equal weight" rating and reduced their price target for the stock from $42.00 to $31.00 in a research report on Friday, May 1st. Piper Sandler decreased their target price on shares of Ryan Specialty from $43.00 to $35.00 and set a "neutral" rating on the stock in a research note on Friday, May 1st. The Goldman Sachs Group upped their price target on shares of Ryan Specialty from $35.00 to $40.00 and gave the stock a "neutral" rating in a research report on Wednesday, July 1st. Cantor Fitzgerald lowered their target price on shares of Ryan Specialty from $45.00 to $40.00 and set a "neutral" rating on the stock in a research note on Thursday, April 9th. Finally, Zacks Research upgraded Ryan Specialty from a "strong sell" rating to a "hold" rating in a research report on Tuesday, June 30th. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, eight have assigned a Hold rating and two have assigned a Sell rating to the company's stock. Based on data from MarketBeat, Ryan Specialty currently has an average rating of "Hold" and an average target price of $48.35.

Ryan Specialty Stock Performance

Shares of RYAN stock traded up $0.50 on Wednesday, reaching $42.08. The stock had a trading volume of 477,809 shares, compared to its average volume of 2,350,774. The company has a debt-to-equity ratio of 2.90, a quick ratio of 1.02 and a current ratio of 1.02. Ryan Specialty has a 1 year low of $29.28 and a 1 year high of $67.69. The stock has a market cap of $11.10 billion, a P/E ratio of 54.59, a price-to-earnings-growth ratio of 0.99 and a beta of 0.61. The company has a 50 day simple moving average of $34.29 and a 200 day simple moving average of $39.57.

Ryan Specialty (NYSE:RYAN - Get Free Report) last released its quarterly earnings results on Thursday, April 30th. The company reported $0.47 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.43 by $0.04. Ryan Specialty had a return on equity of 41.33% and a net margin of 8.21%.The business had revenue of $795.23 million during the quarter, compared to the consensus estimate of $781.44 million. During the same period in the previous year, the company posted $0.39 EPS. The business's quarterly revenue was up 15.2% compared to the same quarter last year. Equities research analysts expect that Ryan Specialty will post 2.06 EPS for the current year.

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

Insider Transactions at Ryan Specialty

In other Ryan Specialty news, EVP Mark Stephen Katz bought 3,215 shares of the firm's stock in a transaction dated 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 transaction, the executive vice president owned 4,332 shares of the company's stock, valued at $134,595.24. This represents a 287.82% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director John W. Rogers, Jr. acquired 7,500 shares of Ryan Specialty 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 completion of the purchase, the director directly owned 117,933 shares of the company's stock, valued at $4,146,524.28. The trade was a 6.79% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have acquired a total of 130,715 shares of company stock worth $4,263,590 in the last three months. Insiders own 52.03% of the company's stock.

Institutional Trading of Ryan Specialty

Several institutional investors have recently added to or reduced their stakes in RYAN. Los Angeles Capital Management LLC purchased a new stake in Ryan Specialty in the fourth quarter worth $25,000. Advisory Services Network LLC purchased a new position in shares of Ryan Specialty in the 3rd quarter valued at $28,000. SBI Securities Co. Ltd. lifted its stake in shares of Ryan Specialty by 6,322.2% during the 4th quarter. SBI Securities Co. Ltd. now owns 578 shares of the company's stock worth $30,000 after purchasing an additional 569 shares during the last quarter. Parallel Advisors LLC grew its position in shares of Ryan Specialty by 54.9% in the 1st quarter. Parallel Advisors LLC now owns 1,013 shares of the company's stock worth $34,000 after buying an additional 359 shares during the last quarter. Finally, Caitong International Asset Management Co. Ltd boosted its stake in Ryan Specialty by 173.7% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 709 shares of the company's stock valued at $37,000 after acquiring an additional 450 shares in the last quarter. 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.

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