Ryan Specialty (NYSE:RYAN) Stock Price Expected to Rise, The Goldman Sachs Group Analyst Says

Key Points

• Goldman Sachs raised its price target on Ryan Specialty from $35 to $40 while keeping a neutral rating, implying about 5.85% upside from the prior close.
• The company reported better-than-expected quarterly results, with EPS of $0.47 versus $0.43 expected and revenue of $795.23 million, up 15.2% year over year.
• Ryan Specialty also announced a $300 million share repurchase program, and recent insider buying by the chairman and a director suggests confidence in the stock.

Ryan Specialty (NYSE:RYAN - Get Free Report) had its price objective hoisted by investment analysts at The Goldman Sachs Group from $35.00 to $40.00 in a research note issued to investors on Wednesday, Marketbeat Ratings reports. The firm presently has a "neutral" rating on the stock. The Goldman Sachs Group's price target suggests a potential upside of 5.85% from the company's previous close.

RYAN has been the topic of a number of other research reports. Citigroup cut their target price on Ryan Specialty from $55.00 to $50.00 and set a "buy" rating on the stock in a research note on Monday, May 4th. Piper Sandler lowered their target price on Ryan Specialty from $43.00 to $35.00 and set a "neutral" rating for the company in a report on Friday, May 1st. Keefe, Bruyette & Woods reissued an "outperform" rating on shares of Ryan Specialty in a research report on Tuesday, May 26th. Bank of America cut their price objective on shares of Ryan Specialty from $70.00 to $68.00 and set a "buy" rating on the stock in a research report on Tuesday, April 14th. Finally, Cantor Fitzgerald lowered their target price on shares of Ryan Specialty from $45.00 to $40.00 and set a "neutral" rating for the company in a research note on Thursday, April 9th. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, seven have given a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $47.41.

Ryan Specialty Price Performance

Shares of Ryan Specialty stock opened at $37.79 on Wednesday. The stock has a market cap of $9.96 billion, a price-to-earnings ratio of 49.08, a price-to-earnings-growth ratio of 0.94 and a beta of 0.64. The company has a debt-to-equity ratio of 2.90, a quick ratio of 1.02 and a current ratio of 1.02. The stock has a 50 day moving average price of $33.80 and a 200-day moving average price of $40.01. Ryan Specialty has a one year low of $29.28 and a one year high of $68.30.

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 for the quarter, beating the consensus estimate of $0.43 by $0.04. The company had revenue of $795.23 million for the quarter, compared to analyst estimates 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 quarter in the prior year, the firm posted $0.39 EPS. Equities analysts expect that Ryan Specialty will post 2.06 EPS for the current year.

Ryan Specialty announced that its board has approved a stock repurchase plan on Tuesday, May 26th that allows the company to repurchase $300.00 million in outstanding shares. This repurchase authorization allows the company to purchase up to 3.5% of its shares through open market purchases. Shares repurchase plans are often a sign that the company's board of directors believes its shares are undervalued.

Insider Buying and Selling at Ryan Specialty

In related news, Director John W. Rogers, Jr. purchased 7,500 shares of the business's stock in a transaction on Wednesday, June 10th. The shares were bought at an average cost of $35.16 per share, with a total value of $263,700.00. Following the transaction, the director owned 117,933 shares of the company's stock, valued at approximately $4,146,524.28. This trade represents a 6.79% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman Patrick G. Ryan acquired 120,000 shares of the firm's stock in a transaction dated Friday, June 5th. The stock was bought at an average cost of $32.50 per share, with a total value of $3,900,000.00. Following the acquisition, the chairman owned 13,817,859 shares in the company, valued at approximately $449,080,417.50. This trade represents a 0.88% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Over the last three months, insiders have acquired 130,715 shares of company stock valued at $4,263,590. 52.03% of the stock is owned by insiders.

Hedge Funds Weigh In On Ryan Specialty

A number of hedge funds have recently bought and sold shares of the business. Los Angeles Capital Management LLC purchased a new stake in Ryan Specialty in the 4th quarter worth $25,000. Advisory Services Network LLC purchased a new stake in shares of Ryan Specialty during the third quarter worth about $28,000. SBI Securities Co. Ltd. raised its position 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 lifted its stake in Ryan Specialty by 54.9% in the 1st quarter. Parallel Advisors LLC now owns 1,013 shares of the company's stock valued at $34,000 after buying an additional 359 shares in the last quarter. Finally, Caitong International Asset Management Co. Ltd raised 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 acquiring an additional 450 shares during the last quarter. Hedge funds and other 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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