Ryan Specialty (NYSE:RYAN) Coverage Initiated at Wolfe Research

Posted by Defense World Staff on Sep 23rd, 2023

Equities research analysts at Wolfe Research initiated coverage on shares of Ryan Specialty (NYSE:RYAN – Get Free Report) in a report released on Thursday, Marketbeat Ratings reports. The brokerage set an “outperform” rating and a $59.00 price target on the stock. Wolfe Research’s target price would suggest a potential upside of 19.68% from the company’s previous close.

A number of other research firms have also weighed in on RYAN. JPMorgan Chase & Co. boosted their target price on shares of Ryan Specialty from $39.00 to $43.00 in a report on Thursday, July 6th. Wells Fargo & Company boosted their target price on shares of Ryan Specialty from $50.00 to $53.00 and gave the stock an “overweight” rating in a report on Friday, August 4th. JMP Securities assumed coverage on shares of Ryan Specialty in a report on Tuesday. They set a “market perform” rating on the stock. Finally, Barclays boosted their target price on shares of Ryan Specialty from $51.00 to $52.00 and gave the stock an “overweight” rating in a report on Friday, August 4th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, Ryan Specialty has a consensus rating of “Hold” and a consensus price target of $49.63.

View Our Latest Stock Report on RYAN

Ryan Specialty Trading Up 1.0 %

Shares of Ryan Specialty stock opened at $49.30 on Thursday. The firm has a market capitalization of $12.83 billion, a PE ratio of 82.17 and a beta of 0.42. The company has a current ratio of 1.22, a quick ratio of 1.22 and a debt-to-equity ratio of 2.06. The firm’s 50 day moving average is $46.43 and its 200 day moving average is $43.28. Ryan Specialty has a 1 year low of $32.13 and a 1 year high of $50.64.

Ryan Specialty (NYSE:RYAN – Get Free Report) last announced its quarterly earnings results on Thursday, August 3rd. The company reported $0.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.42 by $0.03. The company had revenue of $585.10 million for the quarter, compared to analyst estimates of $575.80 million. Ryan Specialty had a net margin of 10.34% and a return on equity of 39.86%. The firm’s revenue was up 19.1% on a year-over-year basis. During the same period in the previous year, the firm posted $0.39 EPS. Equities research analysts forecast that Ryan Specialty will post 1.38 earnings per share for the current fiscal year.

Insider Activity

In related news, insider Lisa Jo Paschal-Alcorn sold 42,762 shares of the business’s stock in a transaction on Wednesday, August 16th. The shares were sold at an average price of $45.01, for a total transaction of $1,924,717.62. Following the transaction, the insider now owns 3,660 shares in the company, valued at approximately $164,736.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, insider Lisa Jo Paschal-Alcorn sold 42,762 shares of the business’s stock in a transaction on Wednesday, August 16th. The shares were sold at an average price of $45.01, for a total transaction of $1,924,717.62. Following the transaction, the insider now owns 3,660 shares in the company, valued at approximately $164,736.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Nicholas Dominic Cortezi sold 4,283 shares of the business’s stock in a transaction on Friday, August 18th. The shares were sold at an average price of $44.68, for a total transaction of $191,364.44. The disclosure for this sale can be found here. In the last three months, insiders have sold 543,132 shares of company stock valued at $24,220,125. 54.51% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of RYAN. Morgan Stanley raised its holdings in Ryan Specialty by 515.7% during the fourth quarter. Morgan Stanley now owns 2,467,647 shares of the company’s stock worth $102,432,000 after buying an additional 2,066,855 shares during the last quarter. Vanguard Group Inc. grew its stake in shares of Ryan Specialty by 42.3% in the 1st quarter. Vanguard Group Inc. now owns 6,747,855 shares of the company’s stock worth $261,749,000 after acquiring an additional 2,006,018 shares in the last quarter. Portside Wealth Group LLC bought a new stake in shares of Ryan Specialty in the 2nd quarter worth $67,332,000. Jackson Square Partners LLC bought a new stake in shares of Ryan Specialty in the 1st quarter worth $44,952,000. Finally, Barclays PLC grew its stake in shares of Ryan Specialty by 34,778.9% in the 2nd quarter. Barclays PLC now owns 1,058,576 shares of the company’s stock worth $47,519,000 after acquiring an additional 1,055,541 shares in the last quarter. Institutional investors and hedge funds own 34.09% of the company’s stock.

Ryan Specialty Company Profile

(Get Free Report)

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