UBS Group Cuts Ryan Specialty (NYSE:RYAN) Price Target to $50.00

Ryan Specialty (NYSE:RYANFree Report) had its target price decreased by UBS Group from $52.00 to $50.00 in a research note released on Wednesday,Benzinga reports. UBS Group currently has a buy rating on the stock.

Several other analysts also recently commented on the stock. The Goldman Sachs Group upped their price target on shares of Ryan Specialty from $35.00 to $40.00 and gave the company a “neutral” rating in a research report on Wednesday, July 1st. Zacks Research upgraded shares of Ryan Specialty from a “strong sell” rating to a “hold” rating in a research note on Tuesday, June 30th. Keefe, Bruyette & Woods upped their target price on shares of Ryan Specialty from $44.00 to $48.00 and gave the company an “outperform” rating in a report on Wednesday. Wells Fargo & Company downgraded shares of 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, Bank of America lowered their price target on Ryan Specialty from $70.00 to $68.00 and set a “buy” rating on the stock in a report on Tuesday, April 14th. Eight investment analysts have rated the stock with a Buy rating, nine have given a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, Ryan Specialty presently has an average rating of “Hold” and a consensus target price of $48.59.

View Our Latest Stock Analysis on RYAN

Ryan Specialty Trading Down 0.5%

RYAN opened at $40.40 on Wednesday. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 2.90. Ryan Specialty has a 52 week low of $29.28 and a 52 week high of $67.69. The business’s 50 day moving average is $34.64 and its two-hundred day moving average is $39.40. The firm has a market cap of $10.65 billion, a price-to-earnings ratio of 52.46, a price-to-earnings-growth ratio of 0.98 and a beta of 0.61.

Ryan Specialty (NYSE:RYANGet Free Report) last posted its quarterly earnings data 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 business 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 company’s revenue was up 15.2% compared to the same quarter last year. During the same period in the prior year, the company earned $0.39 earnings per share. On average, research analysts predict that Ryan Specialty will post 2.05 EPS for the current year.

Ryan Specialty Announces Dividend

The company 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 of this dividend was Tuesday, May 12th. Ryan Specialty’s payout ratio is currently 67.53%.

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

Insiders Place Their Bets

In other news, Director John W. Rogers, Jr. acquired 7,500 shares of the business’s stock in a transaction on Wednesday, June 10th. The stock was bought at an average price of $35.16 per share, for a total transaction of $263,700.00. Following the transaction, the director owned 117,933 shares in the company, valued at $4,146,524.28. This represents a 6.79% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Chairman Patrick G. Ryan bought 120,000 shares of Ryan Specialty stock in a transaction dated Friday, June 5th. The stock was purchased at an average price of $32.50 per share, with a total value of $3,900,000.00. Following the purchase, the chairman directly owned 13,817,859 shares in the company, valued at approximately $449,080,417.50. This trade represents a 0.88% increase in their position. The disclosure for this purchase is available in the SEC filing. In the last quarter, insiders bought 130,715 shares of company stock worth $4,263,590. 52.03% of the stock is owned by insiders.

Institutional Investors Weigh In On Ryan Specialty

A number of institutional investors have recently added to or reduced their stakes in RYAN. Royal Bank of Canada raised its stake in shares of Ryan Specialty by 10.6% during the 1st quarter. Royal Bank of Canada now owns 59,639 shares of the company’s stock worth $4,406,000 after buying an additional 5,739 shares in the last quarter. AQR Capital Management LLC boosted its stake in shares of Ryan Specialty by 25.1% in the first quarter. AQR Capital Management LLC now owns 4,972 shares of the company’s stock valued at $367,000 after buying an additional 998 shares in the last quarter. Goldman Sachs Group Inc. grew its holdings in Ryan Specialty by 46.3% during the first quarter. Goldman Sachs Group Inc. now owns 376,154 shares of the company’s stock worth $27,787,000 after acquiring an additional 119,055 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in Ryan Specialty by 11.3% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 332,823 shares of the company’s stock worth $24,586,000 after acquiring an additional 33,667 shares in the last quarter. Finally, Creative Planning lifted its holdings in Ryan Specialty by 15.4% in the second quarter. Creative Planning now owns 4,586 shares of the company’s stock valued at $312,000 after acquiring an additional 613 shares during the period. Hedge funds and other institutional investors own 84.82% of the company’s stock.

Key Ryan Specialty News

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

Ryan Specialty Company Profile

(Get Free Report)

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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