Keefe, Bruyette & Woods Lowers Ryan Specialty (NYSE:RYAN) Price Target to $77.00

Ryan Specialty (NYSE:RYAN) had its price target decreased by equities research analysts at Keefe, Bruyette & Woods from $79.00 to $77.00 in a report released on Friday,Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Keefe, Bruyette & Woods’ price objective indicates a potential upside of 24.60% from the company’s current price.

Several other research firms also recently commented on RYAN. BMO Capital Markets raised shares of Ryan Specialty from a “market perform” rating to an “outperform” rating and increased their target price for the stock from $65.00 to $75.00 in a research report on Tuesday, September 24th. The Goldman Sachs Group upped their price target on shares of Ryan Specialty from $64.00 to $72.00 and gave the company a “neutral” rating in a report on Wednesday, October 9th. Barclays increased their target price on shares of Ryan Specialty from $76.00 to $88.00 and gave the company an “overweight” rating in a research note on Thursday, November 21st. Bank of America increased their target price on shares of Ryan Specialty from $75.00 to $84.00 and gave the company a “buy” rating in a research note on Thursday, October 10th. Finally, Wells Fargo & Company increased their target price on shares of Ryan Specialty from $63.00 to $70.00 and gave the company an “equal weight” rating in a research note on Thursday, October 10th. One research analyst has rated the stock with a sell rating, five have given a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, Ryan Specialty has an average rating of “Hold” and an average target price of $75.00.

Ryan Specialty Stock Up 1.1 %

Shares of RYAN traded up $0.68 during mid-day trading on Friday, reaching $61.80. The company’s stock had a trading volume of 316,026 shares, compared to its average volume of 836,610. The business has a fifty day moving average of $68.38 and a 200 day moving average of $65.58. The company has a market cap of $16.18 billion, a price-to-earnings ratio of 80.26, a price-to-earnings-growth ratio of 1.52 and a beta of 0.72. Ryan Specialty has a 1 year low of $42.04 and a 1 year high of $75.97. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 2.40.

Ryan Specialty (NYSE:RYAN) last posted its quarterly earnings results on Wednesday, October 30th. The company reported $0.41 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.41. Ryan Specialty had a net margin of 10.31% and a return on equity of 47.90%. The business had revenue of $604.69 million for the quarter, compared to the consensus estimate of $602.04 million. During the same period in the prior year, the business posted $0.32 earnings per share. Ryan Specialty’s revenue for the quarter was up 20.5% compared to the same quarter last year. As a group, analysts forecast that Ryan Specialty will post 1.82 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Ryan Specialty news, Director Nicholas Dominic Cortezi sold 35,000 shares of Ryan Specialty stock in a transaction on Wednesday, December 18th. The shares were sold at an average price of $65.17, for a total transaction of $2,280,950.00. Following the completion of the sale, the director now owns 50,400 shares of the company’s stock, valued at approximately $3,284,568. The trade was a 40.98 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Mark Stephen Katz sold 14,790 shares of Ryan Specialty stock in a transaction on Friday, November 8th. The stock was sold at an average price of $71.39, for a total transaction of $1,055,858.10. Following the transaction, the executive vice president now directly owns 12,386 shares in the company, valued at approximately $884,236.54. This represents a 54.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 126,936 shares of company stock valued at $8,536,282. Company insiders own 11.10% of the company’s stock.

Hedge Funds Weigh In On Ryan Specialty

Hedge funds and other institutional investors have recently made changes to their positions in the company. Signaturefd LLC lifted its position in Ryan Specialty by 12.3% in the 3rd quarter. Signaturefd LLC now owns 1,347 shares of the company’s stock valued at $89,000 after acquiring an additional 148 shares in the last quarter. UMB Bank n.a. increased its stake in Ryan Specialty by 5.2% in the 3rd quarter. UMB Bank n.a. now owns 5,224 shares of the company’s stock valued at $347,000 after buying an additional 256 shares during the last quarter. Loomis Sayles & Co. L P increased its stake in Ryan Specialty by 26.3% in the 3rd quarter. Loomis Sayles & Co. L P now owns 1,373 shares of the company’s stock valued at $91,000 after buying an additional 286 shares during the last quarter. Hollencrest Capital Management acquired a new stake in Ryan Specialty in the 3rd quarter valued at $25,000. Finally, Quarry LP increased its stake in Ryan Specialty by 109.3% in the 3rd quarter. Quarry LP now owns 808 shares of the company’s stock valued at $54,000 after buying an additional 422 shares during the last quarter. 84.82% of the stock is owned by 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.