Ryan Specialty (NYSE:RYAN) Stock Rating Lowered by Wolfe Research

Key Points

• Wolfe Research downgraded Ryan Specialty from “outperform” to “peer perform,” reflecting a more cautious view on the stock. Other analysts remain mixed, with the overall consensus still at Hold and a price target of $48.24.
• Ryan Specialty shares were down 0.8% and opened at $41.27. The stock’s recent trading range and valuation metrics include a 52-week high of $67.69, a P/E ratio of 53.59, and a market cap of $10.88 billion.
• The company recently reported better-than-expected quarterly results, including EPS of $0.47 versus estimates of $0.43 and revenue growth of 15.2% year over year. It also authorized a $300 million share buyback, and insiders have been buying shares.

Ryan Specialty (NYSE:RYAN - Get Free Report) was downgraded by analysts at Wolfe Research from an "outperform" rating to a "peer perform" rating in a research note issued to investors on Thursday, Marketbeat Ratings reports.

RYAN has been the topic of a number of other research reports. Morgan Stanley upped their price target on shares of Ryan Specialty from $39.00 to $42.00 and gave the company an "overweight" rating in a research report on Monday. Weiss Ratings reissued a "sell (d+)" rating on shares of Ryan Specialty in a research note on Monday, May 4th. Bank of America cut their target price on Ryan Specialty from $70.00 to $68.00 and set a "buy" rating on the stock in a research report on Tuesday, April 14th. Wells Fargo & Company cut Ryan Specialty from an "overweight" rating to an "equal weight" rating and decreased their target price for the stock from $42.00 to $31.00 in a research note on Friday, May 1st. Finally, Mizuho set a $35.00 target price on Ryan Specialty in a report on Friday, May 1st. Eight research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and two have given a Sell rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $48.24.

Ryan Specialty Stock Down 0.8%

Ryan Specialty stock opened at $41.27 on Thursday. 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 52-week low of $29.28 and a 52-week high of $67.69. The firm has a 50 day moving average price of $34.42 and a two-hundred day moving average price of $39.48. The firm has a market cap of $10.88 billion, a price-to-earnings ratio of 53.59, a PEG ratio of 1.00 and a beta of 0.61.

Ryan Specialty (NYSE:RYAN - Get Free Report) last posted its quarterly earnings data on Thursday, April 30th. The company reported $0.47 EPS for the quarter, beating analysts' consensus estimates of $0.43 by $0.04. Ryan Specialty had a net margin of 8.21% and a return on equity of 41.33%. The company had revenue of $795.23 million for the quarter, compared to analyst estimates of $781.44 million. During the same period in the prior year, the firm posted $0.39 EPS. The company's quarterly revenue was up 15.2% on a year-over-year basis. Equities analysts predict that Ryan Specialty will post 2.05 EPS for the current year.

Ryan Specialty announced that its Board of Directors has approved a share buyback plan on Tuesday, May 26th that permits the company to repurchase $300.00 million in shares. This repurchase authorization permits the company to buy up to 3.5% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company's board believes its stock is undervalued.

Insider Activity

In other Ryan Specialty news, EVP Mark Stephen Katz purchased 3,215 shares of Ryan Specialty stock in a transaction that occurred on Wednesday, June 3rd. The stock was acquired at an average price of $31.07 per share, with a total value of $99,890.05. Following the transaction, the executive vice president owned 4,332 shares in the company, valued at $134,595.24. This trade represents a 287.82% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director John W. Rogers, Jr. purchased 7,500 shares of the firm's stock in a transaction on Wednesday, June 10th. The shares were acquired at an average price of $35.16 per share, with a total value of $263,700.00. Following the purchase, the director directly owned 117,933 shares in the company, valued at $4,146,524.28. This represents a 6.79% increase in their position. The SEC filing for this purchase provides additional information. Insiders bought a total of 130,715 shares of company stock worth $4,263,590 over the last quarter. 52.03% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Ryan Specialty

Hedge funds and other institutional investors have recently made changes to their positions in the business. Los Angeles Capital Management LLC bought a new position in Ryan Specialty in the 4th quarter valued at about $25,000. Advisory Services Network LLC purchased a new stake in shares of Ryan Specialty in the third quarter worth approximately $28,000. SBI Securities Co. Ltd. lifted its holdings in shares of 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 purchasing an additional 569 shares in the last quarter. Parallel Advisors LLC lifted its holdings in shares of 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 purchasing an additional 359 shares in the last quarter. Finally, Caitong International Asset Management Co. Ltd boosted its position 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 buying 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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