Ryan Specialty (NYSE:RYAN) Price Target Raised to $52.00 at UBS Group

Key Points

• UBS Group raised its price target on Ryan Specialty to $52 from $51 and kept a buy rating, implying about 56% upside from the previous close.
• Analyst opinions remain mixed: Goldman Sachs cut the stock to neutral, while other firms like Citigroup and Barclays also lowered targets. MarketBeat says the consensus rating is currently Hold with an average target of $47.12.
• Ryan Specialty posted solid recent results and is returning capital to shareholders, with Q1 EPS of $0.47 topping estimates and a new $300 million share buyback authorized. Insiders also bought shares recently, including Chairman Patrick G. Ryan’s $3.9 million purchase.

Ryan Specialty (NYSE:RYAN - Get Free Report) had its price target boosted by equities research analysts at UBS Group from $51.00 to $52.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The brokerage currently has a "buy" rating on the stock. UBS Group's price target would suggest a potential upside of 56.08% from the company's previous close.

A number of other research firms also recently weighed in on RYAN. The Goldman Sachs Group downgraded Ryan Specialty from a "buy" rating to a "neutral" rating and decreased their price objective for the company from $42.00 to $35.00 in a report on Monday. Citigroup dropped their target price on Ryan Specialty from $55.00 to $50.00 and set a "buy" rating for the company in a report on Monday, May 4th. Keefe, Bruyette & Woods reaffirmed an "outperform" rating on shares of Ryan Specialty in a research note on Tuesday, May 26th. Barclays lowered their price target on Ryan Specialty from $41.00 to $39.00 and set an "overweight" rating on the stock in a research report on Friday, May 1st. Finally, Piper Sandler dropped their price objective on Ryan Specialty from $43.00 to $35.00 and set a "neutral" rating for the company in a research note on Friday, May 1st. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, seven have issued a Hold rating and three have issued a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $47.12.

Ryan Specialty Stock Performance

Ryan Specialty stock traded up $1.67 during trading hours on Tuesday, hitting $33.32. The stock had a trading volume of 1,328,522 shares, compared to its average volume of 2,236,656. The company has a 50-day moving average of $33.49 and a two-hundred day moving average of $42.35. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 2.90. The company has a market cap of $8.78 billion, a PE ratio of 43.13, a price-to-earnings-growth ratio of 0.78 and a beta of 0.64. Ryan Specialty has a fifty-two week low of $29.28 and a fifty-two week high of $69.49.

Ryan Specialty (NYSE:RYAN - Get Free Report) last issued its 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. The firm had revenue of $795.23 million during the quarter, compared to analysts' expectations of $781.44 million. Ryan Specialty had a return on equity of 41.33% and a net margin of 8.21%.Ryan Specialty's quarterly revenue was up 15.2% compared to the same quarter last year. During the same period last year, the business earned $0.39 earnings per share. On average, equities research analysts anticipate that Ryan Specialty will post 2.05 EPS for the current fiscal year.

Ryan Specialty declared that its Board of Directors has initiated a stock buyback plan on Tuesday, May 26th that allows the company to repurchase $300.00 million in shares. This repurchase authorization allows the company to buy 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 Transactions at Ryan Specialty

In other Ryan Specialty news, EVP Mark Stephen Katz purchased 3,215 shares of the business's stock in a transaction that occurred on Wednesday, June 3rd. The stock was acquired 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 directly owned 4,332 shares of the company's stock, valued at $134,595.24. This represents a 287.82% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman Patrick G. Ryan bought 120,000 shares of Ryan Specialty stock in a transaction dated Friday, June 5th. The shares were bought at an average price of $32.50 per share, for a total transaction of $3,900,000.00. Following the completion of the transaction, the chairman directly owned 13,817,859 shares of the company's stock, valued at $449,080,417.50. This represents a 0.88% increase in their position. The SEC filing for this purchase provides additional information. Insiders own 52.03% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Beck Mack & Oliver LLC bought a new stake in Ryan Specialty in the third quarter valued at approximately $2,818,000. Westview Management dba Westview Investment Advisors acquired a new position in shares of Ryan Specialty in the 4th quarter valued at $2,082,000. Geneva Capital Management LLC increased its position in shares of Ryan Specialty by 11.2% in the 3rd quarter. Geneva Capital Management LLC now owns 535,742 shares of the company's stock valued at $30,194,000 after buying an additional 53,810 shares in the last quarter. JPMorgan Chase & Co. raised its stake in Ryan Specialty by 149.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 421,330 shares of the company's stock worth $23,746,000 after buying an additional 252,582 shares during the period. Finally, SG Americas Securities LLC bought a new position in Ryan Specialty during the fourth quarter worth about $20,776,000. 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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