Ryan Specialty (NYSE:RYAN) Price Target Cut to $50.00 by Analysts at UBS Group

Key Points

• UBS Group cut its price target on Ryan Specialty to $50 from $52 while keeping a buy rating, implying about 19.6% upside from the previous close.
• Analyst sentiment is mixed overall: recent rating changes from other firms include a Goldman Sachs target increase, Wells Fargo downgrade, and Zacks upgrade, with a consensus rating of Hold and an average price target of $48.24.
• The company reported solid recent results and is buying back stock, beating quarterly EPS and revenue estimates, while its board authorized a $300 million share repurchase program.

Ryan Specialty (NYSE:RYAN - Get Free Report) had its price objective cut by investment analysts at UBS Group from $52.00 to $50.00 in a research note issued on Wednesday,Benzinga reports. The brokerage currently has a "buy" rating on the stock. UBS Group's price objective indicates a potential upside of 19.58% from the company's previous close.

A number of other equities analysts also recently commented on RYAN. The Goldman Sachs Group upped their price objective 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. Wells Fargo & Company lowered shares of Ryan Specialty from an "overweight" rating to an "equal weight" rating and dropped their price target for the stock from $42.00 to $31.00 in a research note on Friday, May 1st. Mizuho set a $35.00 price target on shares of Ryan Specialty in a report on Friday, May 1st. Bank of America reduced 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. Finally, Zacks Research raised Ryan Specialty from a "strong sell" rating to a "hold" rating in a report on Tuesday, June 30th. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, eight have given a Hold rating and two have assigned a Sell rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $48.24.

Ryan Specialty Stock Performance

Shares of RYAN stock traded up $0.23 during midday trading on Wednesday, hitting $41.81. The company had a trading volume of 827,041 shares, compared to its average volume of 2,353,397. The stock has a market cap of $11.02 billion, a price-to-earnings ratio of 54.29, a PEG ratio of 0.99 and a beta of 0.61. The company has a debt-to-equity ratio of 2.90, a current ratio of 1.02 and a quick ratio of 1.02. The company's 50 day simple moving average is $34.29 and its 200 day simple moving average is $39.57. Ryan Specialty has a 52-week low of $29.28 and a 52-week high of $67.69.

Ryan Specialty (NYSE:RYAN - Get Free Report) last released its quarterly earnings results on Thursday, April 30th. The company reported $0.47 EPS for the quarter, topping the consensus estimate 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 analysts' expectations of $781.44 million. During the same quarter in the prior year, the business earned $0.39 earnings per share. The company's quarterly revenue was up 15.2% compared to the same quarter last year. Research analysts anticipate that Ryan Specialty will post 2.06 earnings per share for the current fiscal year.

Ryan Specialty announced that its board has authorized a share buyback program on Tuesday, May 26th that permits the company to repurchase $300.00 million in outstanding shares. This repurchase authorization permits the company to buy up to 3.5% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company's leadership believes its shares are undervalued.

Insider Activity at Ryan Specialty

In other news, EVP Mark Stephen Katz bought 3,215 shares of Ryan Specialty stock in a transaction on Wednesday, June 3rd. The stock was purchased at an average cost of $31.07 per share, with a total value of $99,890.05. Following the purchase, the executive vice president directly 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 transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director John W. Rogers, Jr. bought 7,500 shares of the firm's stock in a transaction on Wednesday, June 10th. The stock was purchased at an average price of $35.16 per share, with a total value of $263,700.00. Following the transaction, the director owned 117,933 shares in the company, valued at $4,146,524.28. The trade was a 6.79% increase in their position. The SEC filing for this purchase provides additional information. Insiders have bought a total of 130,715 shares of company stock worth $4,263,590 in the last ninety days. 52.03% of the stock is owned by insiders.

Hedge Funds Weigh In On Ryan Specialty

A number of institutional investors and hedge funds have recently added to or reduced their stakes in RYAN. T. Rowe Price Investment Management Inc. boosted 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 period. Capital World Investors increased its holdings in shares of Ryan Specialty by 0.3% during the fourth quarter. Capital World Investors now owns 6,640,638 shares of the company's stock valued at $342,856,000 after purchasing an additional 17,082 shares during the period. Vulcan Value Partners LLC raised its stake in shares of Ryan Specialty by 631.7% during the fourth quarter. Vulcan Value Partners LLC now owns 4,621,079 shares of the company's stock valued at $238,536,000 after purchasing an additional 3,989,502 shares in the last quarter. Principal Financial Group Inc. raised its stake in shares of Ryan Specialty by 0.9% during the first quarter. Principal Financial Group Inc. now owns 4,411,837 shares of the company's stock valued at $148,856,000 after purchasing an additional 37,339 shares in the last quarter. Finally, Montrusco Bolton Investments Inc. lifted its holdings in Ryan Specialty by 9.3% in the fourth quarter. Montrusco Bolton Investments Inc. now owns 4,343,116 shares of the company's stock worth $218,010,000 after purchasing an additional 368,247 shares during the period. 84.82% of the stock is owned by institutional investors.

Ryan Specialty Company Profile

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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