Ryan Specialty (NYSE:RYAN) Lifted to “Outperform” at BMO Capital Markets

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

A number of other research analysts also recently issued reports on the company. UBS Group boosted their price objective on Ryan Specialty from $67.00 to $76.00 and gave the company a “buy” rating in a research note on Tuesday, August 13th. Barclays began coverage on Ryan Specialty in a research note on Wednesday, September 4th. They issued an “overweight” rating and a $76.00 price target on the stock. Citigroup raised their price objective on shares of Ryan Specialty from $56.00 to $62.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 23rd. Keefe, Bruyette & Woods reiterated an “outperform” rating and set a $62.00 target price on shares of Ryan Specialty in a research report on Tuesday, July 2nd. Finally, JPMorgan Chase & Co. upped their price target on Ryan Specialty from $54.00 to $56.00 and gave the stock an “underweight” rating in a report on Friday, August 2nd. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $66.78.

Ryan Specialty Price Performance

Ryan Specialty stock opened at $64.11 on Tuesday. The stock has a 50-day moving average price of $63.17 and a two-hundred day moving average price of $57.34. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 1.81. Ryan Specialty has a 12 month low of $41.49 and a 12 month high of $69.03. The company has a market capitalization of $16.70 billion, a PE ratio of 120.96, a P/E/G ratio of 1.53 and a beta of 0.62.

Ryan Specialty (NYSE:RYAN) last issued its quarterly earnings results on Thursday, August 1st. The company reported $0.58 earnings per share for the quarter, beating the consensus estimate of $0.56 by $0.02. The company had revenue of $695.40 million during the quarter, compared to analysts’ expectations of $695.56 million. Ryan Specialty had a return on equity of 48.08% and a net margin of 10.21%. The business’s quarterly revenue was up 18.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.45 earnings per share. Analysts expect that Ryan Specialty will post 1.81 EPS for the current year.

Insider Activity

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

Institutional Trading of Ryan Specialty

Hedge funds have recently made changes to their positions in the stock. GAMMA Investing LLC lifted its position in Ryan Specialty by 96.4% in the 2nd quarter. GAMMA Investing LLC now owns 605 shares of the company’s stock worth $35,000 after buying an additional 297 shares during the last quarter. Crewe Advisors LLC bought a new stake in shares of Ryan Specialty in the 2nd quarter worth approximately $39,000. Intelligent Financial Strategies purchased a new stake in shares of Ryan Specialty in the 1st quarter valued at $44,000. Benjamin F. Edwards & Company Inc. bought a new position in shares of Ryan Specialty during the 1st quarter valued at $45,000. Finally, Rothschild Investment LLC purchased a new position in Ryan Specialty in the 2nd quarter worth $87,000. 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.