Royal Bank of Canada Lowers Ryan Specialty (NYSE:RYAN) Price Target to $72.00

Ryan Specialty (NYSE:RYAN) had its target price decreased by analysts at Royal Bank of Canada from $73.00 to $72.00 in a note issued to investors on Friday,Benzinga reports. The brokerage currently has a “sector perform” rating on the stock. Royal Bank of Canada’s price target suggests a potential upside of 9.84% from the stock’s previous close.

A number of other research analysts have also recently commented on RYAN. Barclays upped their target price 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 upped their target price on shares of Ryan Specialty from $64.00 to $69.00 and gave the company an “equal weight” rating in a research report on Friday. Morgan Stanley started 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, Keefe, Bruyette & Woods reduced their price target on shares of Ryan Specialty from $77.00 to $76.00 and set an “outperform” rating on the stock in a research report on Friday. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Ryan Specialty presently has a consensus rating of “Hold” and an average price target of $74.55.

Ryan Specialty Trading Down 4.4 %

NYSE RYAN opened at $65.55 on Friday. The firm’s 50-day moving average is $65.57 and its two-hundred day moving average is $67.28. Ryan Specialty has a 12 month low of $45.72 and a 12 month high of $75.97. The company has a debt-to-equity ratio of 2.40, a current ratio of 1.01 and a quick ratio of 1.01. The stock has a market capitalization of $17.16 billion, a P/E ratio of 95.00, a PEG ratio of 1.19 and a beta of 0.72.

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

Insider Buying and Selling

In related news, Director Nicholas Dominic Cortezi sold 31,409 shares of the company’s stock in a transaction that occurred on Wednesday, January 29th. The shares were sold at an average price of $65.64, for a total transaction of $2,061,686.76. Following the sale, the director now directly owns 2,697 shares in the company, valued at approximately $177,031.08. This represents a 92.09 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Over the last ninety days, insiders have sold 316,451 shares of company stock worth $20,907,793. Company insiders own 11.10% of the company’s stock.

Institutional Trading of Ryan Specialty

A number of large investors have recently made changes to their positions in the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of Ryan Specialty by 14.1% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 299,156 shares of the company’s stock worth $19,194,000 after buying an additional 36,990 shares during the period. Voloridge Investment Management LLC increased its stake in Ryan Specialty by 4.7% in the fourth quarter. Voloridge Investment Management LLC now owns 609,995 shares of the company’s stock valued at $39,137,000 after purchasing an additional 27,657 shares during the last quarter. Sone Capital Management LLC purchased a new position in Ryan Specialty in the fourth quarter valued at approximately $8,303,000. Waters Parkerson & CO. LLC increased its stake in Ryan Specialty by 9.9% in the fourth quarter. Waters Parkerson & CO. LLC now owns 358,710 shares of the company’s stock valued at $23,015,000 after purchasing an additional 32,380 shares during the last quarter. Finally, Two Sigma Advisers LP increased its stake in Ryan Specialty by 693.3% in the fourth quarter. Two Sigma Advisers LP now owns 35,700 shares of the company’s stock valued at $2,291,000 after purchasing an additional 31,200 shares during the last quarter. 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.