Ryan Specialty (NYSE:RYAN) Stock Price Expected to Rise, Barclays Analyst Says

Ryan Specialty (NYSE:RYAN) had its target price lifted by equities researchers at Barclays from $76.00 to $88.00 in a report issued on Thursday,Benzinga reports. The firm currently has an “overweight” rating on the stock. Barclays‘s price target points to a potential upside of 19.70% from the company’s current price.

Other research analysts also recently issued research reports about the stock. Wells Fargo & Company boosted their price objective on shares of Ryan Specialty from $63.00 to $70.00 and gave the stock an “equal weight” rating in a report on Thursday, October 10th. BMO Capital Markets upgraded Ryan Specialty from a “market perform” rating to an “outperform” rating and boosted their price target for the company from $65.00 to $75.00 in a research note on Tuesday, September 24th. The Goldman Sachs Group raised their price objective on Ryan Specialty from $64.00 to $72.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 9th. Bank of America boosted their price objective on Ryan Specialty from $75.00 to $84.00 and gave the company a “buy” rating in a research report on Thursday, October 10th. Finally, JPMorgan Chase & Co. raised their target price on Ryan Specialty from $54.00 to $56.00 and gave the stock an “underweight” rating in a research report on Friday, August 2nd. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $71.67.

Ryan Specialty Price Performance

NYSE RYAN opened at $73.52 on Thursday. The stock has a 50-day simple moving average of $69.06 and a 200 day simple moving average of $62.51. Ryan Specialty has a twelve month low of $41.49 and a twelve month high of $74.53. The stock has a market capitalization of $19.25 billion, a PE ratio of 95.48, a P/E/G ratio of 1.60 and a beta of 0.62. The company has a debt-to-equity ratio of 2.40, a quick ratio of 1.01 and a current ratio of 1.01.

Ryan Specialty (NYSE:RYAN) last posted its quarterly earnings data on Wednesday, October 30th. The company reported $0.41 earnings per share for the quarter, meeting the consensus estimate of $0.41. Ryan Specialty had a return on equity of 47.90% and a net margin of 10.31%. The company had revenue of $604.69 million during the quarter, compared to analysts’ expectations of $602.04 million. During the same period in the prior year, the business earned $0.32 earnings per share. Ryan Specialty’s revenue for the quarter was up 20.5% compared to the same quarter last year. Research analysts anticipate that Ryan Specialty will post 1.8 EPS for the current year.

Insider Activity

In other news, Director Nicholas Dominic Cortezi sold 2,325 shares of the business’s stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $64.60, for a total value of $150,195.00. Following the transaction, the director now directly owns 3,463 shares of the company’s stock, valued at $223,709.80. The trade was a 40.17 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Mark Stephen Katz sold 14,790 shares of the firm’s stock in a transaction on Friday, November 8th. The shares were sold at an average price of $71.39, for a total value of $1,055,858.10. Following the sale, the executive vice president now directly owns 12,386 shares of the company’s stock, valued at $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 quarter, insiders have sold 22,490 shares of company stock worth $1,553,977. Corporate insiders own 11.10% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in RYAN. Hollencrest Capital Management bought a new position in shares of Ryan Specialty in the third quarter worth about $25,000. Assetmark Inc. bought a new position in Ryan Specialty in the 3rd quarter worth approximately $34,000. GAMMA Investing LLC lifted its holdings in Ryan Specialty by 96.4% during the 2nd quarter. GAMMA Investing LLC now owns 605 shares of the company’s stock worth $35,000 after buying an additional 297 shares in the last quarter. Crewe Advisors LLC bought a new position in Ryan Specialty in the 2nd quarter valued at $39,000. Finally, Quarry LP increased its stake in shares of 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 period. Institutional investors and hedge funds 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.