Ryan Specialty (NYSE:RYAN) Upgraded to “Outperform” by BMO Capital Markets

Ryan Specialty (NYSE:RYAN) was upgraded by analysts at BMO Capital Markets from a “market perform” rating to an “outperform” rating in a report released on Tuesday, Briefing.com reports. The brokerage presently has a $75.00 target price on the stock, up from their previous target price of $65.00. BMO Capital Markets’ price objective indicates a potential upside of 16.99% from the company’s current price.

Other analysts also recently issued reports about the stock. The Goldman Sachs Group raised their target price on shares of Ryan Specialty from $58.00 to $64.00 and gave the stock a “neutral” rating in a report on Monday, August 5th. Citigroup boosted their price objective on shares of Ryan Specialty from $56.00 to $62.00 and gave the company a “neutral” rating in a research report on Tuesday, July 23rd. Keefe, Bruyette & Woods restated an “outperform” rating and issued a $62.00 price target on shares of Ryan Specialty in a report on Tuesday, July 2nd. Wells Fargo & Company increased their price objective on Ryan Specialty from $60.00 to $63.00 and gave the stock an “equal weight” rating in a report on Friday, August 2nd. Finally, UBS Group lifted their target price on Ryan Specialty from $67.00 to $76.00 and gave the company a “buy” rating in a research report on Tuesday, August 13th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, Ryan Specialty presently has a consensus rating of “Hold” and an average target price of $66.78.

Ryan Specialty Price Performance

Shares of RYAN stock opened at $64.11 on Tuesday. The firm has a market capitalization of $16.70 billion, a price-to-earnings ratio of 120.96, a price-to-earnings-growth ratio of 1.53 and a beta of 0.62. Ryan Specialty has a 12-month low of $41.49 and a 12-month high of $69.03. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 1.81. The firm has a fifty day moving average of $63.17 and a 200-day moving average of $57.34.

Ryan Specialty (NYSE:RYAN) last announced its quarterly earnings results on Thursday, August 1st. The company reported $0.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.56 by $0.02. Ryan Specialty had a return on equity of 48.08% and a net margin of 10.21%. The company had revenue of $695.40 million during the quarter, compared to the consensus estimate of $695.56 million. During the same period in the prior year, the company earned $0.45 earnings per share. The company’s revenue for the quarter was up 18.9% compared to the same quarter last year. On average, equities research analysts forecast that Ryan Specialty will post 1.81 earnings per share for the current year.

Insider Buying and Selling

In other Ryan Specialty news, Director Nicholas Dominic Cortezi sold 5,375 shares of the firm’s stock in a transaction on Wednesday, August 28th. The stock was sold at an average price of $64.73, for a total transaction of $347,923.75. Following the completion of the sale, the director now owns 2,685 shares of the company’s stock, valued at approximately $173,800.05. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Ryan Specialty news, EVP Jeremiah Rawlins Bickham sold 26,233 shares of the stock in a transaction on Wednesday, August 14th. The stock was sold at an average price of $65.18, for a total transaction of $1,709,866.94. Following the transaction, the executive vice president now owns 24,845 shares in the company, valued at approximately $1,619,397.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Nicholas Dominic Cortezi sold 5,375 shares of Ryan Specialty stock in a transaction on Wednesday, August 28th. The stock was sold at an average price of $64.73, for a total value of $347,923.75. Following the sale, the director now directly owns 2,685 shares of the company’s stock, valued at approximately $173,800.05. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 2,107,136 shares of company stock worth $131,860,032. Company insiders own 11.10% of the company’s stock.

Hedge Funds Weigh In On Ryan Specialty

Hedge funds have recently bought and sold shares of the business. GAMMA Investing LLC increased its stake in Ryan Specialty by 96.4% during the 2nd quarter. GAMMA Investing LLC now owns 605 shares of the company’s stock worth $35,000 after acquiring an additional 297 shares during the period. Arizona State Retirement System increased its position in shares of Ryan Specialty by 2.2% in the second quarter. Arizona State Retirement System now owns 28,246 shares of the company’s stock worth $1,636,000 after purchasing an additional 611 shares during the period. Precision Wealth Strategies LLC raised its stake in Ryan Specialty by 4.1% in the first quarter. Precision Wealth Strategies LLC now owns 15,774 shares of the company’s stock valued at $875,000 after purchasing an additional 617 shares in the last quarter. Anderson Hoagland & Co. lifted its position in Ryan Specialty by 1.2% during the second quarter. Anderson Hoagland & Co. now owns 51,615 shares of the company’s stock worth $2,909,000 after purchasing an additional 624 shares during the period. Finally, Crewe Advisors LLC acquired a new stake in Ryan Specialty during the second quarter worth about $39,000. 84.82% of the stock is owned by institutional investors.

Ryan Specialty Company Profile

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.