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

Ryan Specialty (NYSE:RYAN) had its price target reduced by stock analysts at Keefe, Bruyette & Woods from $79.00 to $77.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Keefe, Bruyette & Woods’ price target points to a potential upside of 23.34% from the company’s previous close.

RYAN has been the subject of several other research reports. Bank of America upped their target price on Ryan Specialty from $75.00 to $84.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th. BMO Capital Markets upgraded Ryan Specialty from a “market perform” rating to an “outperform” rating and upped their price target for the stock from $65.00 to $75.00 in a report on Tuesday, September 24th. The Goldman Sachs Group increased their price objective on shares of Ryan Specialty from $64.00 to $72.00 and gave the company a “neutral” rating in a research report on Wednesday, October 9th. Barclays boosted their target price on shares of Ryan Specialty from $76.00 to $88.00 and gave the stock an “overweight” rating in a research report on Thursday, November 21st. Finally, Morgan Stanley began coverage on shares of Ryan Specialty in a report on Thursday, December 5th. They set an “overweight” rating and a $90.00 price target for the company. One analyst has rated the stock with a sell rating, five have given a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $75.00.

Ryan Specialty Trading Up 2.1 %

Shares of RYAN stock opened at $62.43 on Friday. 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 has a fifty-two week low of $42.04 and a fifty-two week high of $75.97. The firm’s 50 day moving average price is $68.30 and its two-hundred day moving average price is $65.63. The stock has a market cap of $16.35 billion, a price-to-earnings ratio of 81.08, a price-to-earnings-growth ratio of 1.52 and a beta of 0.72.

Ryan Specialty (NYSE:RYAN) last issued its earnings results on Wednesday, October 30th. The company reported $0.41 EPS for the quarter, meeting analysts’ consensus estimates of $0.41. Ryan Specialty had a net margin of 10.31% and a return on equity of 47.90%. The business had revenue of $604.69 million for the quarter, compared to the consensus estimate of $602.04 million. During the same quarter last year, the firm posted $0.32 EPS. The business’s revenue for the quarter was up 20.5% compared to the same quarter last year. On average, analysts anticipate that Ryan Specialty will post 1.82 EPS for the current year.

Insider Buying and Selling

In other news, EVP Mark Stephen Katz sold 14,790 shares of the firm’s stock in a transaction dated 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 transaction, the executive vice president now directly owns 12,386 shares in the company, valued at approximately $884,236.54. This trade represents a 54.42 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Nicholas Dominic Cortezi sold 35,000 shares of the stock in a transaction dated Wednesday, December 18th. The stock was sold at an average price of $65.17, for a total transaction of $2,280,950.00. Following the sale, the director now owns 50,400 shares in the company, valued at approximately $3,284,568. This trade represents a 40.98 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 126,936 shares of company stock worth $8,536,282. Corporate insiders own 11.10% of the company’s stock.

Institutional Trading of Ryan Specialty

Several hedge funds have recently made changes to their positions in RYAN. Principal Financial Group Inc. lifted its stake in Ryan Specialty by 148.9% in the third quarter. Principal Financial Group Inc. now owns 851,704 shares of the company’s stock valued at $56,545,000 after buying an additional 509,548 shares during the last quarter. Jennison Associates LLC increased its holdings in shares of Ryan Specialty by 60.2% in the 3rd quarter. Jennison Associates LLC now owns 1,025,063 shares of the company’s stock worth $68,054,000 after acquiring an additional 385,366 shares during the period. Eagle Asset Management Inc. lifted its position in Ryan Specialty by 32.1% in the 3rd quarter. Eagle Asset Management Inc. now owns 1,380,510 shares of the company’s stock valued at $98,555,000 after purchasing an additional 335,180 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in Ryan Specialty by 43.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 938,187 shares of the company’s stock valued at $62,286,000 after purchasing an additional 286,380 shares during the period. Finally, Driehaus Capital Management LLC bought a new position in Ryan Specialty in the 2nd quarter worth about $16,313,000. Institutional investors own 84.82% of the company’s stock.

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.