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

Ryan Specialty (NYSE:RYAN) had its target price increased by equities researchers at Wells Fargo & Company from $64.00 to $69.00 in a note issued to investors on Friday,Benzinga reports. The brokerage presently has an “equal weight” rating on the stock. Wells Fargo & Company‘s price objective would suggest a potential upside of 7.58% from the stock’s current price.

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

Ryan Specialty Stock Performance

Shares of RYAN opened at $64.14 on Friday. Ryan Specialty has a 52 week low of $45.55 and a 52 week high of $75.97. The stock has a market cap of $16.79 billion, a P/E ratio of 89.23, a P/E/G ratio of 1.21 and a beta of 0.72. The business’s 50 day moving average price is $65.61 and its 200-day moving average price is $67.26. 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 Thursday, February 20th. The company reported $0.45 EPS for the quarter, missing analysts’ consensus estimates of $0.47 by ($0.02). Ryan Specialty had a net margin of 10.31% and a return on equity of 47.90%. The firm had revenue of $663.53 million for the quarter, compared to analysts’ expectations of $658.80 million. Equities research analysts anticipate that Ryan Specialty will post 1.82 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Nicholas Dominic Cortezi sold 35,000 shares of the company’s stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $66.71, for a total transaction of $2,334,850.00. Following the transaction, the director now directly owns 60,200 shares in the company, valued at approximately $4,015,942. This represents a 36.76 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders sold 316,451 shares of company stock valued at $20,907,793 in the last ninety days. Insiders own 11.10% of the company’s stock.

Institutional Investors Weigh In On Ryan Specialty

Institutional investors and hedge funds have recently modified their holdings of the business. Hollencrest Capital Management bought a new position in shares of Ryan Specialty in the third quarter worth about $25,000. Rakuten Securities Inc. bought a new position in Ryan Specialty in the fourth quarter worth approximately $27,000. Assetmark Inc. purchased a new stake in shares of Ryan Specialty during the 3rd quarter worth $34,000. Kapitalo Investimentos Ltda bought a new stake in shares of Ryan Specialty in the 4th quarter valued at about $36,000. Finally, Principal Securities Inc. grew its position in shares of Ryan Specialty by 164.7% in the 4th quarter. Principal Securities Inc. now owns 667 shares of the company’s stock worth $43,000 after buying an additional 415 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.