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

Key Points

• Ryan Specialty has been upgraded to a "strong-buy" rating by analysts at Wolfe Research, reflecting increased confidence in the company's stock performance.
• The stock currently has a consensus rating of "Moderate Buy" with a price target of $74.00, backed by nine buy ratings and one strong buy rating from analysts.
• In a recent earnings report, Ryan Specialty achieved an EPS of $0.66 and revenue growth of 23.0% year-over-year, indicating strong financial performance.

Ryan Specialty (NYSE:RYAN - Get Free Report) was upgraded by equities researchers at Wolfe Research to a "strong-buy" rating in a research report issued on Tuesday,Zacks.com reports.

A number of other research firms have also recently weighed in on RYAN. UBS Group cut their price target on Ryan Specialty from $84.00 to $80.00 and set a "buy" rating on the stock in a report on Monday, August 4th. Morgan Stanley reduced their price objective on shares of Ryan Specialty from $71.00 to $68.00 and set an "overweight" rating for the company in a research note on Monday, August 18th. Barclays cut their target price on shares of Ryan Specialty from $83.00 to $79.00 and set an "overweight" rating for the company in a research note on Monday, July 7th. Citigroup assumed coverage on shares of Ryan Specialty in a research report on Wednesday, August 13th. They set a "buy" rating and a $74.00 price objective for the company. Finally, Wall Street Zen raised shares of Ryan Specialty from a "sell" rating to a "hold" rating in a research note on Sunday, August 3rd. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $74.00.

Ryan Specialty Stock Performance

Shares of RYAN stock traded up $0.33 during mid-day trading on Tuesday, hitting $53.45. 5,257,758 shares of the stock were exchanged, compared to its average volume of 1,478,591. The company has a debt-to-equity ratio of 2.88, a quick ratio of 1.01 and a current ratio of 1.01. The stock has a market capitalization of $14.09 billion, a price-to-earnings ratio of 152.72, a P/E/G ratio of 1.48 and a beta of 0.63. Ryan Specialty has a 12-month low of $50.08 and a 12-month high of $77.16. The stock's fifty day simple moving average is $58.70 and its two-hundred day simple moving average is $65.47.

Ryan Specialty (NYSE:RYAN - Get Free Report) last posted its quarterly earnings results on Thursday, July 31st. The company reported $0.66 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.66. The company had revenue of $855.17 million during the quarter, compared to the consensus estimate of $837.52 million. Ryan Specialty had a net margin of 6.81% and a return on equity of 48.70%. The company's revenue for the quarter was up 23.0% on a year-over-year basis. During the same period last year, the firm earned $0.58 EPS. On average, analysts forecast that Ryan Specialty will post 2.29 EPS for the current year.

Insider Activity at Ryan Specialty

In other news, Chairman Patrick G. Ryan purchased 276,634 shares of the company's stock in a transaction that occurred on Friday, September 12th. The shares were bought at an average price of $51.84 per share, for a total transaction of $14,340,706.56. Following the purchase, the chairman directly owned 13,699,959 shares in the company, valued at approximately $710,205,874.56. This trade represents a 2.06% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 52.21% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of RYAN. Whittier Trust Co. of Nevada Inc. lifted its position in shares of Ryan Specialty by 281.6% during the first quarter. Whittier Trust Co. of Nevada Inc. now owns 332 shares of the company's stock worth $25,000 after purchasing an additional 245 shares during the last quarter. SVB Wealth LLC acquired a new position in Ryan Specialty in the first quarter valued at approximately $26,000. Golden State Wealth Management LLC increased its position in shares of Ryan Specialty by 10,975.0% in the second quarter. Golden State Wealth Management LLC now owns 443 shares of the company's stock valued at $30,000 after buying an additional 439 shares in the last quarter. Central Pacific Bank Trust Division purchased a new stake in shares of Ryan Specialty during the second quarter worth approximately $31,000. Finally, WPG Advisers LLC acquired a new stake in shares of Ryan Specialty in the 1st quarter worth $32,000. 84.82% of the stock is currently owned by institutional investors.

About Ryan Specialty

Ryan Specialty Holdings, Inc operates as a service provider of specialty products and solutions for insurance brokers, agents, and carriers in the United States, Canada, the United Kingdom, Europe, and Singapore. It offers distribution, underwriting, product development, administration, and risk management services by acting as a wholesale broker and a managing underwriter.