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

Ryan Specialty (NYSE:RYAN) had its price objective decreased by Keefe, Bruyette & Woods from $77.00 to $76.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Keefe, Bruyette & Woods’ target price indicates a potential upside of 15.94% from the stock’s previous close.

RYAN has been the topic of several other reports. Wells Fargo & Company lowered their target price on shares of Ryan Specialty from $68.00 to $64.00 and set an “equal weight” rating on the stock in a report on Tuesday, January 14th. Morgan Stanley began coverage on shares of Ryan Specialty in a research report on Thursday, December 5th. They set an “overweight” rating and a $90.00 price target on the stock. Finally, Barclays increased their price objective 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. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, Ryan Specialty currently has a consensus rating of “Hold” and an average target price of $74.55.

Ryan Specialty Price Performance

RYAN stock opened at $65.55 on Friday. The stock has a 50-day moving average price of $65.57 and a two-hundred day moving average price of $67.28. Ryan Specialty has a 1 year low of $45.72 and a 1 year 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 stock has a market cap of $17.16 billion, a PE ratio of 95.00, a price-to-earnings-growth ratio of 1.19 and a beta of 0.72.

Ryan Specialty (NYSE:RYAN) last issued its earnings results on Thursday, February 20th. The company reported $0.45 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.47 by ($0.02). The firm had revenue of $663.53 million during the quarter, compared to analyst estimates of $658.80 million. Ryan Specialty had a net margin of 9.14% and a return on equity of 48.01%. Equities analysts forecast that Ryan Specialty will post 2.29 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director Nicholas Dominic Cortezi sold 29,466 shares of Ryan Specialty stock in a transaction dated Monday, January 13th. The shares were sold at an average price of $65.06, for a total transaction of $1,917,057.96. Following the sale, the director now owns 45,409 shares of the company’s stock, valued at approximately $2,954,309.54. The trade was a 39.35 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders have sold a total of 316,451 shares of company stock worth $20,907,793 in the last 90 days. 11.10% of the stock is owned by company insiders.

Institutional Investors Weigh In On Ryan Specialty

Several hedge funds have recently bought and sold shares of RYAN. Hollencrest Capital Management purchased a new position in shares of Ryan Specialty during the third quarter valued at approximately $25,000. Rakuten Securities Inc. bought a new position in shares of Ryan Specialty in the fourth quarter worth approximately $27,000. Assetmark Inc. bought a new position in shares of Ryan Specialty in the third quarter worth approximately $34,000. Kapitalo Investimentos Ltda bought a new position in shares of Ryan Specialty in the fourth quarter worth approximately $36,000. Finally, Principal Securities Inc. boosted its position in shares of Ryan Specialty by 164.7% during the fourth quarter. Principal Securities Inc. now owns 667 shares of the company’s stock worth $43,000 after acquiring an additional 415 shares during the last quarter. Institutional investors 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.