Morgan Stanley Begins Coverage on Ryan Specialty (NYSE:RYAN)

Equities research analysts at Morgan Stanley began coverage on shares of Ryan Specialty (NYSE:RYAN) in a research note issued on Thursday, Marketbeat reports. The brokerage set an “overweight” rating and a $90.00 price target on the stock. Morgan Stanley’s target price indicates a potential upside of 24.09% from the stock’s current price.

RYAN has been the subject of several other research reports. UBS Group lifted their price target on Ryan Specialty from $67.00 to $76.00 and gave the stock a “buy” rating in a research note on Tuesday, August 13th. Bank of America lifted their target price on shares of Ryan Specialty from $75.00 to $84.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th. Barclays increased their price target on shares of Ryan Specialty from $76.00 to $88.00 and gave the company an “overweight” rating in a research report on Thursday, November 21st. Wells Fargo & Company lifted their price objective on Ryan Specialty from $63.00 to $70.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 10th. Finally, BMO Capital Markets upgraded Ryan Specialty from a “market perform” rating to an “outperform” rating and increased their target price for the company from $65.00 to $75.00 in a report on Tuesday, September 24th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $73.50.

Ryan Specialty Stock Down 1.2 %

RYAN stock opened at $72.53 on Thursday. Ryan Specialty has a 52 week low of $41.49 and a 52 week 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 company has a market cap of $18.99 billion, a P/E ratio of 95.35, a P/E/G ratio of 1.68 and a beta of 0.67. The company’s 50-day moving average price is $70.86 and its 200 day moving average price is $63.84.

Ryan Specialty (NYSE:RYAN) last announced its quarterly earnings results on Wednesday, October 30th. The company reported $0.41 EPS for the quarter, hitting the consensus estimate of $0.41. Ryan Specialty had a return on equity of 47.90% and a net margin of 10.31%. The business had revenue of $604.69 million for the quarter, compared to analyst estimates of $602.04 million. During the same quarter in the previous year, the company earned $0.32 EPS. The company’s quarterly revenue was up 20.5% on a year-over-year basis. On average, research analysts expect that Ryan Specialty will post 1.8 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Ryan Specialty news, Director David P. Bolger sold 7,055 shares of the stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $70.88, for a total transaction of $500,058.40. Following the transaction, the director now owns 78,149 shares of the company’s stock, valued at $5,539,201.12. This trade represents a 8.28 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Mark Stephen Katz sold 14,790 shares of the business’s stock in a transaction on Friday, November 8th. The shares were sold at an average price of $71.39, for a total transaction 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. 11.10% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Ryan Specialty

Large investors have recently modified their holdings of the company. Hollencrest Capital Management purchased a new stake in shares of Ryan Specialty during the 3rd quarter worth about $25,000. Assetmark Inc. acquired a new stake in shares of Ryan Specialty in the third quarter worth $34,000. GAMMA Investing LLC raised its stake in shares of Ryan Specialty by 96.4% in the 2nd quarter. GAMMA Investing LLC now owns 605 shares of the company’s stock valued at $35,000 after acquiring an additional 297 shares during the period. Crewe Advisors LLC acquired a new position in shares of Ryan Specialty during the 2nd quarter valued at $39,000. Finally, Quarry LP boosted its position in Ryan Specialty by 109.3% during the 3rd quarter. Quarry LP now owns 808 shares of the company’s stock worth $54,000 after purchasing an additional 422 shares during the period. 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.