Ryan Specialty (NYSE:RYAN) Upgraded by Zacks Research to "Hold" Rating

Key Points

• Zacks Research upgraded Ryan Specialty from "strong sell" to "hold", while the broader analyst consensus remains Hold with an average target price of $47.41.
• The company recently 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's board authorized a $300 million share repurchase program, and insiders have also been buying shares, including large purchases by Chairman Patrick G. Ryan and director John W. Rogers, Jr.

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

Other research analysts have also issued research reports about the stock. Citigroup lowered their price target on shares of Ryan Specialty from $55.00 to $50.00 and set a "buy" rating for the company in a report on Monday, May 4th. Morgan Stanley reduced their price objective on shares of Ryan Specialty from $45.00 to $39.00 and set an "overweight" rating on the stock in a research note on Thursday, May 21st. Wells Fargo & Company cut shares of Ryan Specialty from an "overweight" rating to an "equal weight" rating and decreased their price objective for the stock from $42.00 to $31.00 in a research report on Friday, May 1st. UBS Group lifted their target price on shares of Ryan Specialty from $51.00 to $52.00 and gave the stock a "buy" rating in a research note on Tuesday, June 9th. Finally, JPMorgan Chase & Co. dropped their target price on shares of Ryan Specialty from $49.00 to $43.00 and set an "underweight" rating on the stock in a report on Thursday, April 9th. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, eight have assigned a Hold rating and two have given a Sell rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $47.41.

Ryan Specialty Trading Up 6.0%

Shares of RYAN stock opened at $40.02 on Tuesday. The stock has a market cap of $10.55 billion, a price-to-earnings ratio of 51.98, a PEG ratio of 0.91 and a beta of 0.61. The stock has a 50-day moving average of $33.84 and a 200-day moving average of $39.91. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 2.90. Ryan Specialty has a 1-year low of $29.28 and a 1-year high of $67.69.

Ryan Specialty (NYSE:RYAN - Get Free Report) last issued its quarterly earnings data on Thursday, April 30th. The company reported $0.47 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.43 by $0.04. The company had revenue of $795.23 million during the quarter, compared to the consensus estimate of $781.44 million. Ryan Specialty had a return on equity of 41.33% and a net margin of 8.21%.The firm's revenue was up 15.2% compared to the same quarter last year. During the same period last year, the company earned $0.39 earnings per share. On average, equities research analysts forecast that Ryan Specialty will post 2.06 earnings per share for the current year.

Ryan Specialty announced that its board has authorized a stock repurchase plan on Tuesday, May 26th that authorizes the company to repurchase $300.00 million in shares. This repurchase authorization authorizes the company to buy up to 3.5% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company's leadership believes its stock is undervalued.

Insider Activity at Ryan Specialty

In related news, Director John W. Rogers, Jr. bought 7,500 shares of the business's stock in a transaction that occurred on Wednesday, June 10th. The shares were acquired at an average cost of $35.16 per share, with a total value of $263,700.00. Following the completion of the purchase, the director directly owned 117,933 shares in the company, valued at $4,146,524.28. The trade was a 6.79% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Chairman Patrick G. Ryan purchased 120,000 shares of Ryan Specialty stock in a transaction on Friday, June 5th. The stock was bought at an average price of $32.50 per share, with a total value of $3,900,000.00. Following the completion of the acquisition, the chairman directly owned 13,817,859 shares of the company's stock, valued at approximately $449,080,417.50. This trade represents a 0.88% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have purchased 130,715 shares of company stock worth $4,263,590 in the last quarter. Company insiders own 52.03% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in RYAN. Advisory Services Network LLC acquired a new stake in Ryan Specialty in the third quarter valued at approximately $28,000. Los Angeles Capital Management LLC acquired a new position in shares of Ryan Specialty during the fourth quarter worth approximately $25,000. SBI Securities Co. Ltd. raised its position in shares of Ryan Specialty by 6,322.2% during the fourth 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 period. Quarry LP bought a new position in shares of Ryan Specialty in the 3rd quarter worth $37,000. Finally, Caitong International Asset Management Co. Ltd lifted its holdings in shares of Ryan Specialty by 173.7% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 709 shares of the company's stock worth $37,000 after purchasing an additional 450 shares in the last quarter. 84.82% of the stock is owned by institutional investors and hedge funds.

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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