Ryan Specialty (NYSE:RYAN) Price Target Raised to $69.00 at Wells Fargo & Company

Ryan Specialty (NYSE:RYAN) had its target price boosted by stock analysts at Wells Fargo & Company from $64.00 to $69.00 in a report issued on Friday,Benzinga reports. The firm presently has an “equal weight” rating on the stock. Wells Fargo & Company‘s price objective would indicate a potential upside of 7.58% from the company’s previous close.

A number of other equities research analysts also recently weighed in on the company. Barclays lifted their target price on Ryan Specialty from $76.00 to $88.00 and gave the stock an “overweight” rating in a report on Thursday, November 21st. Keefe, Bruyette & Woods dropped their price target on shares of Ryan Specialty from $77.00 to $76.00 and set an “outperform” rating on the stock in a research report on Friday. Finally, Morgan Stanley began coverage on shares of Ryan Specialty in a report on Thursday, December 5th. They set an “overweight” rating and a $90.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, Ryan Specialty has a consensus rating of “Hold” and a consensus target price of $74.80.

Ryan Specialty Trading Down 7.5 %

Shares of Ryan Specialty stock opened at $64.14 on Friday. The firm has a market capitalization of $16.79 billion, a PE ratio of 89.23, a price-to-earnings-growth ratio of 1.21 and a beta of 0.72. Ryan Specialty has a 1 year low of $45.55 and a 1 year high of $75.97. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 2.40. The firm’s 50 day moving average is $65.61 and its 200 day moving average is $67.26.

Ryan Specialty (NYSE:RYAN) last released its quarterly earnings results on Thursday, February 20th. The company reported $0.45 EPS for the quarter, missing analysts’ consensus estimates of $0.47 by ($0.02). The company had revenue of $663.53 million during the quarter, compared to the consensus estimate of $658.80 million. Ryan Specialty had a net margin of 10.31% and a return on equity of 47.90%. Equities research analysts forecast that Ryan Specialty will post 1.82 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Nicholas Dominic Cortezi sold 10,485 shares of the stock in a transaction dated Thursday, January 23rd. The stock was sold at an average price of $65.12, for a total transaction of $682,783.20. Following the sale, the director now owns 11,109 shares of the company’s stock, valued at approximately $723,418.08. This represents a 48.56 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In the last 90 days, insiders sold 316,451 shares of company stock valued at $20,907,793. 11.10% of the stock is owned by insiders.

Institutional Trading of Ryan Specialty

Hedge funds and other institutional investors have recently bought and sold shares of the company. Hollencrest Capital Management bought a new position in shares of Ryan Specialty in the third quarter worth approximately $25,000. Rakuten Securities Inc. bought a new stake in Ryan Specialty in the fourth quarter worth $27,000. Assetmark Inc. purchased a new stake in Ryan Specialty during the 3rd quarter valued at about $34,000. Kapitalo Investimentos Ltda bought a new position in shares of Ryan Specialty in the fourth quarter worth approximately $36,000. Finally, Principal Securities Inc. increased its position in shares of Ryan Specialty by 164.7% in the fourth quarter. Principal Securities Inc. now owns 667 shares of the company’s stock valued at $43,000 after acquiring an additional 415 shares during the period. Institutional investors own 84.82% of the company’s stock.

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.