Ryan Specialty (NYSE:RYAN) Downgraded by Wolfe Research to “Peer Perform”

Wolfe Research lowered shares of Ryan Specialty (NYSE:RYAN) from an outperform rating to a peer perform rating in a research report sent to investors on Thursday, Marketbeat.com reports.

RYAN has been the topic of a number of other reports. Piper Sandler dropped their price objective on shares of Ryan Specialty from $43.00 to $35.00 and set a “neutral” rating on the stock in a research report on Friday, May 1st. JPMorgan Chase & Co. decreased their price objective on shares of Ryan Specialty from $49.00 to $43.00 and set an “underweight” rating for the company in a research report on Thursday, April 9th. 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. Bank of America dropped their target price on Ryan Specialty from $70.00 to $68.00 and set a “buy” rating on the stock in a report on Tuesday, April 14th. Finally, Wells Fargo & Company cut Ryan Specialty from an “overweight” rating to an “equal weight” rating and cut their price target for the company from $42.00 to $31.00 in a research note on Friday, May 1st. Eight research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $48.59.

Ryan Specialty Price Performance

RYAN stock opened at $40.59 on Thursday. The company has a debt-to-equity ratio of 2.90, a current ratio of 1.02 and a quick ratio of 1.02. The firm has a market capitalization of $10.70 billion, a P/E ratio of 52.72, a P/E/G ratio of 0.99 and a beta of 0.61. The business’s 50-day moving average is $34.53 and its two-hundred day moving average is $39.40. Ryan Specialty has a 1 year low of $29.28 and a 1 year high of $67.69.

Ryan Specialty (NYSE:RYAN) last announced its quarterly earnings data on Thursday, April 30th. The company reported $0.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.43 by $0.04. Ryan Specialty had a return on equity of 41.33% and a net margin of 8.21%.The business had revenue of $795.23 million during the quarter, compared to analysts’ expectations of $781.44 million. During the same quarter last year, the business posted $0.39 EPS. The business’s quarterly revenue was up 15.2% compared to the same quarter last year. Analysts anticipate that Ryan Specialty will post 2.05 earnings per share for the current fiscal year.

Ryan Specialty Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, May 26th. Shareholders of record on Tuesday, May 12th were paid a $0.13 dividend. This represents a $0.52 annualized dividend and a yield of 1.3%. The ex-dividend date was Tuesday, May 12th. Ryan Specialty’s dividend payout ratio is currently 67.53%.

Ryan Specialty declared that its Board of Directors has initiated a stock repurchase program on Tuesday, May 26th that permits the company to buyback $300.00 million in outstanding shares. This buyback authorization permits the company to reacquire up to 3.5% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s board believes its stock is undervalued.

Insider Transactions at Ryan Specialty

In other news, Chairman Patrick G. Ryan purchased 120,000 shares of the company’s stock in a transaction that occurred on Friday, June 5th. The shares were purchased at an average price of $32.50 per share, for a total transaction of $3,900,000.00. Following the purchase, 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Mark Stephen Katz purchased 3,215 shares of the company’s stock in a transaction that occurred on Wednesday, June 3rd. The shares were purchased at an average price of $31.07 per share, for a total transaction of $99,890.05. Following the purchase, the executive vice president directly owned 4,332 shares in the company, valued at $134,595.24. The trade was a 287.82% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Over the last 90 days, insiders have bought 130,715 shares of company stock worth $4,263,590. Corporate insiders own 52.03% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Public Employees Retirement System of Ohio boosted its stake in shares of Ryan Specialty by 0.6% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 32,797 shares of the company’s stock worth $1,848,000 after acquiring an additional 203 shares in the last quarter. Covestor Ltd grew its holdings in Ryan Specialty by 16.8% in the fourth quarter. Covestor Ltd now owns 1,467 shares of the company’s stock valued at $76,000 after purchasing an additional 211 shares during the last quarter. Northwestern Mutual Investment Management Company LLC increased its position in shares of Ryan Specialty by 1.0% in the fourth quarter. Northwestern Mutual Investment Management Company LLC now owns 25,355 shares of the company’s stock valued at $1,309,000 after buying an additional 240 shares in the last quarter. Federation des caisses Desjardins du Quebec increased its position in shares of Ryan Specialty by 7.8% in the fourth quarter. Federation des caisses Desjardins du Quebec now owns 3,313 shares of the company’s stock valued at $171,000 after buying an additional 240 shares in the last quarter. Finally, Snowden Capital Advisors LLC raised its stake in shares of Ryan Specialty by 1.3% during the 2nd quarter. Snowden Capital Advisors LLC now owns 21,135 shares of the company’s stock worth $1,437,000 after buying an additional 264 shares during the last quarter. Institutional investors and hedge funds own 84.82% of the company’s stock.

Key Headlines Impacting Ryan Specialty

Here are the key news stories impacting Ryan Specialty this week:

• Positive Sentiment: Keefe, Bruyette & Woods raised its price target on Ryan Specialty to $48 from $44 and kept an outperform rating, signaling continued upside potential. Benzinga report
• Positive Sentiment: UBS lifted its target to $50 from $52 and reiterated a buy rating, suggesting analysts still see meaningful upside from current levels. Benzinga report
• Neutral Sentiment: Ryan Specialty announced that Nirvana will acquire certain assets of its Swedish subsidiary, a transaction that appears to be a limited portfolio change rather than a major companywide shift. Article link

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.