Ryan Specialty (NYSE:RYAN) Raised to “Strong-Buy” at Wolfe Research

Ryan Specialty (NYSE:RYAN) was upgraded by equities researchers at Wolfe Research to a “strong-buy” rating in a research note issued to investors on Tuesday,Zacks.com reports.

A number of other equities research analysts have also recently issued reports on RYAN. Citigroup began coverage on Ryan Specialty in a report on Wednesday, August 13th. They set a “buy” rating and a $74.00 price objective for the company. Barclays lowered their price objective on Ryan Specialty from $83.00 to $79.00 and set an “overweight” rating on the stock in a research report on Monday, July 7th. UBS Group reduced their target price on shares of Ryan Specialty from $84.00 to $80.00 and set a “buy” rating for the company in a research report on Monday, August 4th. Wall Street Zen upgraded shares of Ryan Specialty from a “sell” rating to a “hold” rating in a research note on Sunday, August 3rd. Finally, Cantor Fitzgerald upgraded shares of Ryan Specialty to a “hold” rating in a research report on Wednesday, August 13th. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $74.00.

Ryan Specialty Stock Performance

NYSE RYAN opened at $53.39 on Tuesday. The firm has a market capitalization of $14.08 billion, a P/E ratio of 152.55, a price-to-earnings-growth ratio of 1.46 and a beta of 0.63. The firm’s fifty day moving average price is $59.14 and its two-hundred day moving average price is $65.74. Ryan Specialty has a 1 year low of $50.08 and a 1 year high of $77.16. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 2.88.

Ryan Specialty (NYSE:RYAN) last posted its quarterly earnings results on Thursday, July 31st. The company reported $0.66 EPS for the quarter, hitting analysts’ consensus estimates of $0.66. Ryan Specialty had a return on equity of 48.70% and a net margin of 6.81%.The business had revenue of $855.17 million during the quarter, compared to analysts’ expectations of $837.52 million. During the same quarter last year, the company posted $0.58 earnings per share. Ryan Specialty’s quarterly revenue was up 23.0% on a year-over-year basis. As a group, research analysts anticipate that Ryan Specialty will post 2.29 EPS for the current year.

Insider Activity at Ryan Specialty

In related news, Chairman Patrick G. Ryan purchased 276,634 shares of Ryan Specialty stock in a transaction dated Friday, September 12th. The stock was bought at an average cost of $51.84 per share, for a total transaction of $14,340,706.56. Following the completion of the transaction, the chairman owned 13,699,959 shares in the company, valued at $710,205,874.56. This trade represents a 2.06% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 52.21% of the stock is owned by insiders.

Institutional Investors Weigh In On Ryan Specialty

A number of institutional investors and hedge funds have recently modified their holdings of RYAN. MAI Capital Management grew its position in shares of Ryan Specialty by 65.3% during the 2nd quarter. MAI Capital Management now owns 476 shares of the company’s stock valued at $32,000 after purchasing an additional 188 shares in the last quarter. Crossmark Global Holdings Inc. lifted its position in Ryan Specialty by 2.9% during the first quarter. Crossmark Global Holdings Inc. now owns 7,351 shares of the company’s stock valued at $543,000 after purchasing an additional 207 shares during the last quarter. ProShare Advisors LLC grew its stake in Ryan Specialty by 5.2% in the 2nd quarter. ProShare Advisors LLC now owns 4,772 shares of the company’s stock worth $324,000 after buying an additional 238 shares in the last quarter. Whittier Trust Co. of Nevada Inc. increased its holdings in shares of Ryan Specialty by 281.6% in the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 332 shares of the company’s stock worth $25,000 after buying an additional 245 shares during the last quarter. Finally, Wealth Alliance LLC increased its holdings in shares of Ryan Specialty by 6.4% in the 2nd quarter. Wealth Alliance LLC now owns 4,371 shares of the company’s stock worth $297,000 after buying an additional 263 shares during the last quarter. 84.82% of the stock is owned by hedge funds and other 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.