Ryan Specialty (NYSE:RYAN) Given New $65.00 Price Target at Keefe, Bruyette & Woods

Ryan Specialty (NYSE:RYAN) had its price target dropped by research analysts at Keefe, Bruyette & Woods from $73.00 to $65.00 in a report issued on Monday,Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Keefe, Bruyette & Woods’ price objective indicates a potential upside of 19.69% from the company’s previous close.

RYAN has been the topic of several other reports. Cantor Fitzgerald raised shares of Ryan Specialty to a “hold” rating in a report on Wednesday, August 13th. UBS Group decreased their price target on Ryan Specialty from $80.00 to $75.00 and set a “buy” rating on the stock in a research report on Wednesday, October 8th. The Goldman Sachs Group decreased their price target on Ryan Specialty from $71.00 to $63.00 and set a “buy” rating on the stock in a research report on Friday. Wall Street Zen upgraded Ryan Specialty from a “sell” rating to a “hold” rating in a research report on Sunday, August 3rd. Finally, BMO Capital Markets set a $66.00 price objective on shares of Ryan Specialty in a research report on Monday. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $68.54.

Ryan Specialty Stock Down 0.9%

RYAN traded down $0.49 during mid-day trading on Monday, reaching $54.31. 731,132 shares of the stock were exchanged, compared to its average volume of 1,220,407. The company has a 50 day moving average price of $54.51 and a two-hundred day moving average price of $61.87. The company has a debt-to-equity ratio of 2.72, a quick ratio of 1.01 and a current ratio of 1.00. The stock has a market capitalization of $14.32 billion, a PE ratio of 118.27, a price-to-earnings-growth ratio of 1.51 and a beta of 0.62. Ryan Specialty has a 1 year low of $50.08 and a 1 year high of $77.16.

Ryan Specialty (NYSE:RYAN) last issued its quarterly earnings results on Thursday, October 30th. The company reported $0.47 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.47. The company had revenue of $754.58 million for the quarter, compared to the consensus estimate of $742.35 million. Ryan Specialty had a net margin of 7.61% and a return on equity of 47.93%. The firm’s quarterly revenue was up 24.8% on a year-over-year basis. During the same period in the previous year, the firm earned $0.41 EPS. As a group, research analysts anticipate that Ryan Specialty will post 2.29 EPS for the current year.

Insider Buying and Selling

In other Ryan Specialty news, Chairman Patrick G. Ryan purchased 276,634 shares of the company’s stock in a transaction that occurred on Friday, September 12th. The stock was bought at an average price of $51.84 per share, with a total value of $14,340,706.56. Following the completion of the purchase, the chairman directly owned 13,699,959 shares of the company’s stock, valued at $710,205,874.56. The trade was a 2.06% increase in their position. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. 52.21% of the stock is owned by insiders.

Hedge Funds Weigh In On Ryan Specialty

Several institutional investors and hedge funds have recently modified their holdings of RYAN. Montrusco Bolton Investments Inc. bought a new position in shares of Ryan Specialty during the second quarter valued at $213,852,000. Norges Bank bought a new position in shares of Ryan Specialty during the second quarter valued at $88,305,000. Artisan Partners Limited Partnership bought a new position in shares of Ryan Specialty during the second quarter valued at $64,961,000. Invesco Ltd. increased its holdings in shares of Ryan Specialty by 121.6% during the first quarter. Invesco Ltd. now owns 1,590,862 shares of the company’s stock valued at $117,517,000 after acquiring an additional 872,846 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC bought a new position in shares of Ryan Specialty during the second quarter valued at $37,321,000. 84.82% of the stock is currently owned by 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.