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

Ryan Specialty (NYSE:RYAN) had its price target cut by Royal Bank of Canada from $73.00 to $72.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage currently has a “sector perform” rating on the stock. Royal Bank of Canada’s price objective would suggest a potential upside of 9.64% from the stock’s current price.

Several other brokerages have also weighed in on RYAN. Keefe, Bruyette & Woods dropped their target price on Ryan Specialty from $77.00 to $76.00 and set an “outperform” rating on the stock in a research report on Friday. Wells Fargo & Company increased their price objective on Ryan Specialty from $64.00 to $69.00 and gave the stock an “equal weight” rating in a report on Friday. Barclays lifted their target price on shares of Ryan Specialty from $76.00 to $88.00 and gave the company an “overweight” rating in a research note on Thursday, November 21st. Finally, Morgan Stanley assumed coverage on shares of Ryan Specialty in a research report on Thursday, December 5th. They issued an “overweight” rating and a $90.00 target price for the company. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $74.55.

Ryan Specialty Price Performance

Shares of RYAN stock traded down $2.93 during midday trading on Friday, reaching $65.67. 1,366,523 shares of the company were exchanged, compared to its average volume of 957,369. Ryan Specialty has a 12 month low of $45.72 and a 12 month high of $75.97. The company has a market cap of $17.20 billion, a P/E ratio of 85.29, a PEG ratio of 1.21 and a beta of 0.72. The company’s 50 day moving average price is $65.61 and its two-hundred day moving average price is $67.26. The company has a debt-to-equity ratio of 2.40, a quick ratio of 1.01 and a current ratio of 1.01.

Ryan Specialty (NYSE:RYAN) last released its earnings results on Thursday, February 20th. The company reported $0.45 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.47 by ($0.02). Ryan Specialty had a return on equity of 47.90% and a net margin of 10.31%. The company had revenue of $663.53 million during the quarter, compared to analysts’ expectations of $658.80 million. On average, sell-side analysts expect that Ryan Specialty will post 1.82 earnings per share for the current year.

Insider Buying and Selling at Ryan Specialty

In other news, Director Nicholas Dominic Cortezi sold 35,000 shares of the firm’s stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $67.39, for a total value of $2,358,650.00. Following the sale, the director now directly owns 65,100 shares of the company’s stock, valued at approximately $4,387,089. This trade represents a 34.97 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders have sold a total of 316,451 shares of company stock worth $20,907,793 over the last three months. Corporate insiders own 11.10% of the company’s stock.

Institutional Investors Weigh In On Ryan Specialty

Several hedge funds and other institutional investors have recently made changes to their positions in the business. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of Ryan Specialty by 14.1% in 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 valued at $19,194,000 after purchasing an additional 36,990 shares during the last quarter. Voloridge Investment Management LLC grew its position in Ryan Specialty by 4.7% during the fourth quarter. Voloridge Investment Management LLC now owns 609,995 shares of the company’s stock worth $39,137,000 after buying an additional 27,657 shares in the last quarter. Sone Capital Management LLC acquired a new stake in Ryan Specialty during the fourth quarter worth about $8,303,000. Waters Parkerson & CO. LLC grew its position in Ryan Specialty by 9.9% during the fourth quarter. Waters Parkerson & CO. LLC now owns 358,710 shares of the company’s stock worth $23,015,000 after buying an additional 32,380 shares in the last quarter. Finally, Two Sigma Advisers LP grew its position in Ryan Specialty by 693.3% during the fourth quarter. Two Sigma Advisers LP now owns 35,700 shares of the company’s stock worth $2,291,000 after buying an additional 31,200 shares in the last quarter. 84.82% of the stock is owned by institutional investors and hedge funds.

Ryan Specialty Company Profile

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.