Wells Fargo & Company Forecasts Strong Price Appreciation for Ryan Specialty (NYSE:RYAN) Stock

Ryan Specialty (NYSE:RYAN) had its price objective raised by analysts at Wells Fargo & Company from $64.00 to $69.00 in a research note issued on Friday,Benzinga reports. The brokerage presently has an “equal weight” rating on the stock. Wells Fargo & Company‘s price target suggests a potential upside of 5.26% from the stock’s previous close.

Other analysts also recently issued research reports about the company. Barclays lifted their price objective on Ryan Specialty from $76.00 to $88.00 and gave the stock an “overweight” rating in a research note on Thursday, November 21st. Keefe, Bruyette & Woods reduced their price objective on Ryan Specialty from $77.00 to $76.00 and set an “outperform” rating on the stock in a research note on Friday. Finally, Morgan Stanley initiated coverage on Ryan Specialty in a research note on Thursday, December 5th. They issued an “overweight” rating and a $90.00 price objective on the stock. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, Ryan Specialty currently has a consensus rating of “Hold” and a consensus target price of $74.55.

Ryan Specialty Stock Down 4.4 %

NYSE RYAN opened at $65.55 on Friday. The stock’s 50 day moving average is $65.57 and its 200 day moving average is $67.28. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 2.40. Ryan Specialty has a 12 month low of $45.72 and a 12 month high of $75.97. The stock has a market cap of $17.16 billion, a PE ratio of 95.00, a P/E/G ratio of 1.19 and a beta of 0.72.

Ryan Specialty (NYSE:RYAN) last posted its quarterly 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 return on equity of 48.01% and a net margin of 9.14%. The business had revenue of $663.53 million during the quarter, compared to analysts’ expectations of $658.80 million. Research analysts predict that Ryan Specialty will post 2.29 EPS for the current fiscal year.

Insider Activity at Ryan Specialty

In related news, Director Nicholas Dominic Cortezi sold 35,000 shares of the business’s stock in a transaction on Monday, December 16th. The stock was sold at an average price of $66.71, for a total transaction of $2,334,850.00. Following the completion of the transaction, the director now owns 60,200 shares in the company, valued at $4,015,942. The trade was a 36.76 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders sold a total of 316,451 shares of company stock worth $20,907,793 in the last quarter. 11.10% of the stock is owned by company insiders.

Institutional Investors Weigh In On Ryan Specialty

Several hedge funds have recently made changes to their positions in the company. Signaturefd LLC lifted its holdings in shares of Ryan Specialty by 12.3% in the 3rd quarter. Signaturefd LLC now owns 1,347 shares of the company’s stock worth $89,000 after buying an additional 148 shares during the period. Mariner LLC lifted its holdings in shares of Ryan Specialty by 3.4% in the 4th quarter. Mariner LLC now owns 5,278 shares of the company’s stock worth $339,000 after buying an additional 172 shares during the period. Sanctuary Advisors LLC lifted its holdings in shares of Ryan Specialty by 1.2% in the 4th quarter. Sanctuary Advisors LLC now owns 15,690 shares of the company’s stock worth $1,045,000 after buying an additional 188 shares during the period. State of Alaska Department of Revenue lifted its holdings in shares of Ryan Specialty by 1.6% in the 4th quarter. State of Alaska Department of Revenue now owns 12,130 shares of the company’s stock worth $778,000 after buying an additional 190 shares during the period. Finally, CIBC Asset Management Inc lifted its holdings in shares of Ryan Specialty by 5.6% in the 4th quarter. CIBC Asset Management Inc now owns 3,674 shares of the company’s stock worth $236,000 after buying an additional 196 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.