Keefe, Bruyette & Woods Issues Pessimistic Forecast for Ryan Specialty (NYSE:RYAN) Stock Price

Ryan Specialty (NYSE:RYAN) had its price objective decreased by equities researchers at Keefe, Bruyette & Woods from $76.00 to $75.00 in a research report issued on Wednesday,Benzinga reports. The firm presently has an “outperform” rating on the stock. Keefe, Bruyette & Woods’ price objective points to a potential upside of 13.47% from the company’s current price.

RYAN has been the subject of several other reports. UBS Group boosted their price target on Ryan Specialty from $82.00 to $84.00 and gave the company a “buy” rating in a research note on Wednesday, February 26th. Wells Fargo & Company upped their target price on Ryan Specialty from $64.00 to $69.00 and gave the company an “equal weight” rating in a research report on Friday, February 21st. Finally, Royal Bank of Canada reduced their target price on Ryan Specialty from $73.00 to $72.00 and set a “sector perform” rating on the stock in a report on Friday, February 21st. One 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. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $75.18.

Ryan Specialty Stock Performance

Shares of RYAN traded down $0.98 during midday trading on Wednesday, reaching $66.10. 149,782 shares of the stock were exchanged, compared to its average volume of 1,001,777. The stock’s 50 day simple moving average is $69.71 and its 200 day simple moving average is $68.73. The company has a market cap of $17.31 billion, a P/E ratio of 95.79, a PEG ratio of 1.19 and a beta of 0.66. Ryan Specialty has a twelve month low of $48.48 and a twelve month high of $77.16. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 2.40.

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

Insider Buying and Selling at Ryan Specialty

In related news, EVP Brendan Martin Mulshine sold 30,000 shares of the firm’s stock in a transaction that occurred on Friday, March 14th. The shares were sold at an average price of $69.30, for a total value of $2,079,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Nicholas Dominic Cortezi sold 29,466 shares of Ryan Specialty stock in a transaction that occurred on Monday, January 13th. The stock was 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 in the company, valued at approximately $2,954,309.54. This represents a 39.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 241,360 shares of company stock worth $16,006,428 over the last quarter. Corporate insiders own 11.10% of the company’s stock.

Hedge Funds Weigh In On Ryan Specialty

Large investors have recently modified their holdings of the business. Raymond James Financial Inc. bought a new position in Ryan Specialty during the 4th quarter worth $94,484,000. Norges Bank acquired a new stake in shares of Ryan Specialty in the fourth quarter valued at about $78,358,000. Millennium Management LLC raised its position in shares of Ryan Specialty by 1,111.4% during the fourth quarter. Millennium Management LLC now owns 1,174,086 shares of the company’s stock worth $75,329,000 after acquiring an additional 1,077,169 shares during the last quarter. Principal Financial Group Inc. lifted its stake in shares of Ryan Specialty by 115.2% in the fourth quarter. Principal Financial Group Inc. now owns 1,833,209 shares of the company’s stock worth $117,619,000 after acquiring an additional 981,505 shares during the period. Finally, CIBC Private Wealth Group LLC boosted its holdings in Ryan Specialty by 6,911.0% in the fourth quarter. CIBC Private Wealth Group LLC now owns 785,928 shares of the company’s stock valued at $48,036,000 after acquiring an additional 774,718 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.