Ryan Specialty (NYSE:RYAN) Price Target Raised to $45.00 at JPMorgan Chase & Co.

Key Points

• JPMorgan raised Ryan Specialty’s price target from $39 to $45 but maintained an “underweight” rating, implying only 1.64% upside from the reported $44.27 share price.
• Analyst sentiment remains mixed: Ryan Specialty has a consensus “Hold” rating and an average price target of $53.22, based on eight Buy, nine Hold and two Sell ratings.
• The company exceeded quarterly expectations, reporting $0.74 in EPS versus the $0.60 consensus and $916.65 million in revenue. Its board also authorized a $300 million share-repurchase program, covering up to 3.5% of outstanding shares.

Ryan Specialty (NYSE:RYAN - Get Free Report) had its price target boosted by stock analysts at JPMorgan Chase & Co. from $39.00 to $45.00 in a report released on Monday,Benzinga reports. The firm currently has an "underweight" rating on the stock. JPMorgan Chase & Co.'s price objective suggests a potential upside of 1.64% from the stock's current price.

Several other equities research analysts also recently weighed in on RYAN. Keefe, Bruyette & Woods boosted their target price on shares of Ryan Specialty from $48.00 to $54.00 and gave the stock an "outperform" rating in a research report on Friday. Barclays raised their target price on Ryan Specialty from $46.00 to $48.00 and gave the company an "overweight" rating in a research report on Friday. Mizuho increased their price objective on Ryan Specialty from $39.00 to $48.00 and gave the company a "neutral" rating in a research report on Friday. Wells Fargo & Company upped their price objective on shares of Ryan Specialty from $39.00 to $43.00 and gave the company an "equal weight" rating in a research note on Monday. Finally, Citigroup reaffirmed a "buy" rating on shares of Ryan Specialty in a research note on Monday. Eight research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, Ryan Specialty has a consensus rating of "Hold" and an average price target of $53.22.

Ryan Specialty Trading Up 0.3%

Shares of RYAN stock traded up $0.12 on Monday, reaching $44.27. 671,188 shares of the stock were exchanged, compared to its average volume of 2,319,571. The stock has a market cap 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. 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 has a 50 day moving average of $37.74 and a two-hundred day moving average of $38.34. Ryan Specialty has a 1-year low of $29.28 and a 1-year high of $61.05.

Ryan Specialty (NYSE:RYAN - Get Free Report) last released its quarterly earnings data on Thursday, July 30th. The company reported $0.74 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.60 by $0.14. The company had revenue of $916.65 million during the quarter, compared to the consensus estimate of $873.93 million. Ryan Specialty had a net margin of 7.55% and a return on equity of 43.97%. Ryan Specialty'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 earned $0.66 earnings per share. On average, research 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 shares. This repurchase authorization allows the company to reacquire up to 3.5% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company's board believes its stock is undervalued.

Insider Activity

In related news, EVP Mark Stephen Katz acquired 3,215 shares of the business's stock in a transaction on Wednesday, June 3rd. The stock was bought at an average cost of $31.07 per share, with a total value of $99,890.05. Following the completion of the acquisition, the executive vice president 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. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Chairman Patrick G. Ryan bought 120,000 shares of the stock in a transaction dated Friday, June 5th. The stock was purchased at an average cost of $32.50 per share, for a total transaction of $3,900,000.00. Following the acquisition, the chairman owned 13,817,859 shares in the company, valued at $449,080,417.50. The trade was a 0.88% increase in their position. The disclosure for this purchase is available in the SEC filing. In the last three months, insiders have acquired 130,715 shares of company stock worth $4,263,590. Corporate insiders own 52.03% of the company's stock.

Hedge Funds Weigh In On Ryan Specialty

A number of institutional investors have recently modified their holdings of RYAN. Los Angeles Capital Management LLC acquired a new stake in shares of Ryan Specialty in the 4th quarter valued at $25,000. Advisory Services Network LLC bought a new stake in shares of Ryan Specialty during the third quarter worth approximately $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 valued at $30,000 after buying an additional 569 shares during the period. 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 last quarter. Finally, Caitong International Asset Management Co. Ltd raised its position in shares of Ryan Specialty by 173.7% during the 4th 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 during the last quarter. 84.82% of the stock is 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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