Keefe, Bruyette & Woods Has Lowered Expectations for Ryan Specialty (NYSE:RYAN) Stock Price

Ryan Specialty (NYSE:RYAN) had its target price dropped by equities researchers at Keefe, Bruyette & Woods from $79.00 to $77.00 in a research report issued on Friday,Benzinga reports. The firm presently has an “outperform” rating on the stock. Keefe, Bruyette & Woods’ price objective points to a potential upside of 24.60% from the stock’s current price.

A number of other research analysts have also commented on the stock. Barclays upped their price target 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. BMO Capital Markets upgraded shares of Ryan Specialty from a “market perform” rating to an “outperform” rating and upped their price target for the company from $65.00 to $75.00 in a research note on Tuesday, September 24th. Wells Fargo & Company upped their price target 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. Bank of America upped their price target 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, The Goldman Sachs Group boosted their price objective 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. One analyst has rated the stock with a sell rating, five have issued a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, Ryan Specialty currently has a consensus rating of “Hold” and a consensus price target of $75.00.

Ryan Specialty Stock Performance

Shares of Ryan Specialty stock traded up $0.68 during trading on Friday, hitting $61.80. 316,026 shares of the stock were exchanged, compared to its average volume of 836,610. The stock has a market capitalization 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. The company has a fifty day moving average price of $68.38 and a 200-day moving average price of $65.58. Ryan Specialty has a 1-year low of $42.04 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.

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

Insider Activity at Ryan Specialty

In other Ryan Specialty news, Director David P. Bolger sold 7,055 shares of the company’s stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $70.88, for a total value of $500,058.40. Following the completion of the transaction, the director now directly owns 78,149 shares in the company, valued at approximately $5,539,201.12. This represents a 8.28 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Nicholas Dominic Cortezi sold 35,000 shares of the company’s stock in a transaction that occurred 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 transaction, the director now owns 50,400 shares of the company’s stock, valued at approximately $3,284,568. This trade represents a 40.98 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 126,936 shares of company stock valued at $8,536,282 in the last quarter. Insiders own 11.10% of the company’s stock.

Hedge Funds Weigh In On Ryan Specialty

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. GAMMA Investing LLC increased its position in shares of Ryan Specialty by 38.1% during the fourth quarter. GAMMA Investing LLC now owns 1,725 shares of the company’s stock worth $111,000 after buying an additional 476 shares during the period. JPMorgan Chase & Co. increased its position in shares of Ryan Specialty by 107.5% during the third quarter. JPMorgan Chase & Co. now owns 459,464 shares of the company’s stock worth $30,504,000 after buying an additional 238,064 shares during the period. Principal Financial Group Inc. increased its position in shares of Ryan Specialty by 148.9% during the third quarter. Principal Financial Group Inc. now owns 851,704 shares of the company’s stock worth $56,545,000 after buying an additional 509,548 shares during the period. Tidal Investments LLC increased its position in shares of Ryan Specialty by 30.4% during the third quarter. Tidal Investments LLC now owns 12,255 shares of the company’s stock worth $814,000 after buying an additional 2,858 shares during the period. Finally, Wilmington Savings Fund Society FSB acquired a new stake in shares of Ryan Specialty during the third quarter worth $193,000. 84.82% of the stock is currently owned by institutional investors and hedge funds.

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.