Research analysts at JMP Securities have recently started coverage on shares of Ryan Specialty (NYSE:RYAN) with a “market perform” rating, according to a research report issued on September 19, 2023.
On Tuesday, NYSE:RYAN opened at $49.27. The company has a 50-day moving average of $46.09 and a 200-day moving average of $43.08. Over the past year, Ryan Specialty’s stock has experienced a low of $32.13 and a high of $49.77. With a market capitalization of $12.82 billion, the stock carries a price-to-earnings ratio of 82.12 and has a beta value of 0.42. It also has a debt-to-equity ratio of 2.06, current ratio and quick ratio both standing at 1.22.
Institutional investors have shown interest in Ryan Specialty as they have recently modified their holdings in the company’s stock. For instance, HighTower Advisors LLC increased its holdings by 31.5% during the first quarter, now owning 9,565 shares worth approximately $375,000 after purchasing an additional 2,290 shares in the last quarter.
Citigroup Inc., another institutional investor, also grew its stake in Ryan Specialty by 16.9% during the same period and currently holds 4,744 shares valued at around $184,000.
Natixis Advisors L.P., meanwhile, entered the scene by acquiring a new position in Ryan Specialty worth $515,000 since the beginning of this year.
And Dimensional Fund Advisors LP incorporated an initial investment in Ryan Specialty amounting to about $380,000 within that timeframe.
Lastly, Vanguard Group Inc., with an ownership stake in Ryan Specialty that increased by 42.3% during Q1 of this year now controls roughly 6,747,855 shares valued at $261,749,000.
Ryan Specialty last reported its quarterly earnings data on August 3, 2023. The company exceeded analysts’ consensus estimates by posting earnings per share (EPS) of $0.45 for the quarter, beating expectations by $0.03. Its revenue for the same period amounted to $585.10 million, compared to a consensus estimate of $575.80 million. The company’s return on equity stood at 39.86%, and it achieved a net margin of 10.34%. When compared to the previous year, Ryan Specialty experienced a 19.1% increase in revenue during this quarter.
Sell-side analysts predict that Ryan Specialty will post earnings per share of 1.38 for the current year.
As coverage on Ryan Specialty begins under a “market perform” rating, investors will be monitoring its performance closely in the coming months to determine whether it meets their investment criteria or needs further evaluation based on additional research and analysis.
Disclaimer: This article does not constitute financial advice. Investors should do thorough research and analysis before making any investment decisions based on the information provided above or obtained from other sources.
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Insider Activities and Analyst Ratings Impact Ryan Specialty Stock
On September 19, 2023, several equities research analysts shared their insights on Ryan Specialty (RYAN). Wells Fargo & Company, for instance, increased the target price of RYAN shares from $50.00 to $53.00 and provided an “overweight” rating in a report released on August 4th. Similarly, JPMorgan Chase & Co. raised their target price from $39.00 to $43.00 in a research note made public on July 6th. Barclays also adjusted their price objective for RYAN, increasing it from $51.00 to $52.00 and giving the company another “overweight” rating in a research report published on August 4th.
While some analysts view RYAN favorably with buy ratings, others have noted reservations about the stock. One equities research analyst even rated the stock as a sell, while three analysts assigned a hold rating. Bloomberg.com reports that currently RYAN has an average rating of “Hold,” with an average price target of $48.29.
In addition to these market trends and opinions, some recent insider activities have caught attention as well. Director Nicholas Dominic Cortezi sold 25,000 shares of RYAN stock on June 27th at an average price of $44.01, resulting in a total value of $1,100,250. This sale was disclosed through a filing with the Securities & Exchange Commission (SEC), which can be accessed via their website.
Another insider transaction occurred when Lisa Jo Paschal-Alcorn, an insider at Ryan Specialty, sold 42,762 shares of the company’s stock on August 16th at an average price of $45.01 per share. The total value of this transaction amounted to $1,924,717.62. Following this sale, Paschal-Alcorn now owns 3,660 shares in the company, with a value of $164,736.60. This transaction was also disclosed in a document filed with the SEC and can be found through the provided hyperlink.
Furthermore, it is worth noting that Director Nicholas Dominic Cortezi had previously sold 25,000 shares of RYAN stock on June 27th at an average price of $44.01 per share, totaling $1,100,250.00. The disclosure for this particular sale can be found here.
Over the past 90 days, insiders have collectively sold 543,132 shares of RYAN stock, with a total value amounting to $24,220,125. It is revealed that approximately 54.51% of the stock is currently owned by company insiders.
These recent insider activities and varying analyst ratings add perspective to Ryan Specialty’s performance in the market. While some analysts remain positive about the company’s prospects indicated by their buy ratings and target price increases, others are more cautious with hold ratings or even a sell rating. Investors may consider these factors as they make their own decisions regarding Ryan Specialty stock.
