Ryan Specialty (NYSE:RYAN) Price Target Lowered to $39.00 at Morgan Stanley

Ryan Specialty (NYSE:RYAN) had its target price decreased by investment analysts at Morgan Stanley from $45.00 to $39.00 in a note issued to investors on Thursday,Benzinga reports. The firm presently has an “overweight” rating on the stock. Morgan Stanley’s price objective would suggest a potential upside of 20.03% from the company’s current price.

Other research analysts have also issued reports about the company. Keefe, Bruyette & Woods lowered their target price on Ryan Specialty from $49.00 to $42.00 and set an “outperform” rating for the company in a research report on Friday, May 1st. Wells Fargo & Company cut Ryan Specialty from an “overweight” rating to an “equal weight” rating and decreased their price target for the company from $42.00 to $31.00 in a research note on Friday, May 1st. UBS Group lowered their price objective on Ryan Specialty from $59.00 to $51.00 and set a “buy” rating for the company in a research report on Monday, May 4th. Citigroup reduced their target price on Ryan Specialty from $55.00 to $50.00 and set a “buy” rating on the stock in a report on Monday, May 4th. Finally, BMO Capital Markets downgraded shares of Ryan Specialty from an “outperform” rating to a “market perform” rating and decreased their target price for the company from $66.00 to $43.00 in a research report on Wednesday, February 25th. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, six have issued a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $47.47.

Ryan Specialty Stock Down 1.6%

NYSE:RYAN opened at $32.49 on Thursday. The firm’s 50 day simple moving average is $34.23 and its 200 day simple moving average is $44.55. The company has a debt-to-equity ratio of 2.90, a current ratio of 1.02 and a quick ratio of 1.02. Ryan Specialty has a one year low of $29.28 and a one year high of $72.50. The company has a market cap of $8.58 billion, a PE ratio of 42.20, a P/E/G ratio of 0.80 and a beta of 0.68.

Ryan Specialty (NYSE:RYAN) last announced its quarterly earnings results on Thursday, April 30th. The company reported $0.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.43 by $0.04. The firm had revenue of $795.23 million during the quarter, compared to analysts’ expectations of $781.44 million. Ryan Specialty had a net margin of 8.21% and a return on equity of 41.33%. The company’s revenue was up 15.2% on a year-over-year basis. During the same period in the prior year, the company posted $0.39 EPS. On average, research analysts anticipate that Ryan Specialty will post 2.05 earnings per share for the current year.

Insiders Place Their Bets

In other Ryan Specialty news, Director Patrick G. Ryan, Jr. purchased 25,500 shares of the company’s stock in a transaction on Monday, February 23rd. The shares were purchased at an average cost of $39.96 per share, with a total value of $1,018,980.00. Following the completion of the purchase, the director owned 428,295 shares in the company, valued at $17,114,668.20. This represents a 6.33% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 52.03% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Westview Management dba Westview Investment Advisors purchased a new stake in Ryan Specialty in the 4th quarter valued at about $2,082,000. Beck Mack & Oliver LLC purchased a new stake in shares of Ryan Specialty during the third quarter valued at approximately $2,818,000. Geneva Capital Management LLC increased its position in shares of Ryan Specialty by 11.2% during the third quarter. Geneva Capital Management LLC now owns 535,742 shares of the company’s stock valued at $30,194,000 after acquiring an additional 53,810 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in Ryan Specialty by 149.7% during the third quarter. JPMorgan Chase & Co. now owns 421,330 shares of the company’s stock worth $23,746,000 after acquiring an additional 252,582 shares during the period. Finally, SG Americas Securities LLC purchased a new position in Ryan Specialty in the fourth quarter worth $20,776,000. 84.82% of the stock is owned by institutional investors.

About Ryan Specialty

Ryan Specialty Group, Inc (NYSE: RYAN) is a global specialty insurance and reinsurance platform that partners with a network of insurers and reinsurers to deliver tailored risk solutions. The company focuses on complex and large-scale risks across multiple industry sectors, leveraging its underwriting expertise to structure coverage programs that meet clients’ unique needs.

Ryan Specialty’s core offerings span a diverse range of specialty lines, including casualty, property, professional liability, marine and energy, program administration, and sports and entertainment.