Ryan Specialty (NYSE:RYAN) Price Target Raised to $72.00 at The Goldman Sachs Group

Ryan Specialty (NYSE:RYAN) had its price target raised by equities research analysts at The Goldman Sachs Group from $64.00 to $72.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The firm presently has a “neutral” rating on the stock. The Goldman Sachs Group’s price objective suggests a potential upside of 0.53% from the company’s current price.

Several other research analysts have also commented on RYAN. JPMorgan Chase & Co. lifted their price target on Ryan Specialty from $54.00 to $56.00 and gave the stock an “underweight” rating in a research report on Friday, August 2nd. Citigroup lifted their target price on shares of Ryan Specialty from $56.00 to $62.00 and gave the company a “neutral” rating in a report on Tuesday, July 23rd. Keefe, Bruyette & Woods reiterated an “outperform” rating and set a $62.00 price target on shares of Ryan Specialty in a research note on Tuesday, July 2nd. BMO Capital Markets raised shares of Ryan Specialty from a “market perform” rating to an “outperform” rating and raised their price objective for the stock from $65.00 to $75.00 in a research report on Tuesday, September 24th. Finally, Barclays initiated coverage on shares of Ryan Specialty in a report on Wednesday, September 4th. They issued an “overweight” rating and a $76.00 target price for the company. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Ryan Specialty has a consensus rating of “Hold” and a consensus price target of $67.67.

Ryan Specialty Stock Up 0.8 %

Shares of Ryan Specialty stock traded up $0.54 during trading hours on Wednesday, hitting $71.62. The company had a trading volume of 163,571 shares, compared to its average volume of 881,226. The company’s 50-day moving average is $65.25 and its two-hundred day moving average is $58.38. Ryan Specialty has a twelve month low of $41.49 and a twelve month high of $72.97. The company has a debt-to-equity ratio of 1.81, a current ratio of 1.09 and a quick ratio of 1.09. The company has a market cap of $18.65 billion, a P/E ratio of 135.43, a price-to-earnings-growth ratio of 1.64 and a beta of 0.62.

Ryan Specialty (NYSE:RYAN) last issued its quarterly earnings data on Thursday, August 1st. The company reported $0.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.56 by $0.02. Ryan Specialty had a return on equity of 48.08% and a net margin of 10.21%. The company had revenue of $695.40 million for the quarter, compared to analyst estimates of $695.56 million. During the same quarter last year, the company posted $0.45 earnings per share. The business’s quarterly revenue was up 18.9% compared to the same quarter last year. Analysts anticipate that Ryan Specialty will post 1.81 earnings per share for the current fiscal year.

Insider Buying and Selling at Ryan Specialty

In other news, Director Nicholas Dominic Cortezi sold 5,375 shares of the stock in a transaction dated Wednesday, August 28th. The shares were sold at an average price of $64.73, for a total value of $347,923.75. Following the completion of the transaction, the director now owns 2,685 shares in the company, valued at $173,800.05. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, Director Nicholas Dominic Cortezi sold 5,375 shares of the business’s stock in a transaction that occurred on Wednesday, August 28th. The stock was sold at an average price of $64.73, for a total transaction of $347,923.75. Following the sale, the director now owns 2,685 shares of the company’s stock, valued at $173,800.05. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Jeremiah Rawlins Bickham sold 26,233 shares of the firm’s stock in a transaction that occurred on Wednesday, August 14th. The shares were sold at an average price of $65.18, for a total value of $1,709,866.94. Following the completion of the transaction, the executive vice president now directly owns 24,845 shares of the company’s stock, valued at $1,619,397.10. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 2,107,136 shares of company stock valued at $131,860,032. 11.10% of the stock is owned by company insiders.

Institutional Investors Weigh In On Ryan Specialty

Institutional investors and hedge funds have recently made changes to their positions in the business. Champlain Investment Partners LLC raised its position in Ryan Specialty by 28.0% during the first quarter. Champlain Investment Partners LLC now owns 4,937,332 shares of the company’s stock worth $274,022,000 after acquiring an additional 1,079,505 shares during the last quarter. Norden Group LLC lifted its stake in Ryan Specialty by 2,138.1% in the 1st quarter. Norden Group LLC now owns 778,848 shares of the company’s stock valued at $43,226,000 after buying an additional 744,049 shares in the last quarter. Bessemer Group Inc. grew its holdings in Ryan Specialty by 33.9% during the 1st quarter. Bessemer Group Inc. now owns 1,925,864 shares of the company’s stock valued at $106,886,000 after buying an additional 488,067 shares during the last quarter. Bank of New York Mellon Corp increased its position in Ryan Specialty by 132.2% during the second quarter. Bank of New York Mellon Corp now owns 836,209 shares of the company’s stock worth $48,425,000 after buying an additional 476,126 shares in the last quarter. Finally, 2Xideas AG acquired a new position in shares of Ryan Specialty in the first quarter worth $19,765,000. 84.82% of the stock is currently owned by hedge funds and other 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.