Ryan Specialty (NYSE:RYAN) Price Target Cut to $45.00 by Analysts at Barclays

Ryan Specialty (NYSE:RYAN) had its price objective lowered by equities research analysts at Barclays from $52.00 to $45.00 in a note issued to investors on Wednesday,Benzinga reports. The firm presently has an “overweight” rating on the stock. Barclays‘s target price suggests a potential upside of 23.66% from the stock’s previous close.

RYAN has been the subject of several other reports. The Goldman Sachs Group set a $61.00 price objective on Ryan Specialty in a research report on Wednesday, January 7th. Zacks Research cut Ryan Specialty from a “hold” rating to a “strong sell” rating in a research note on Tuesday, February 24th. TD Cowen reaffirmed a “buy” rating on shares of Ryan Specialty in a report on Wednesday, November 26th. Morgan Stanley reduced their price objective on shares of Ryan Specialty from $61.00 to $55.00 and set an “overweight” rating for the company in a research report on Monday, February 23rd. Finally, Weiss Ratings cut shares of Ryan Specialty from a “hold (c-)” rating to a “sell (d+)” rating in a report on Thursday, February 5th. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, five have issued a Hold rating and three have issued a Sell rating to the company. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $56.40.

Ryan Specialty Stock Down 0.2%

NYSE RYAN traded down $0.06 on Wednesday, hitting $36.39. 927,933 shares of the stock were exchanged, compared to its average volume of 2,142,681. Ryan Specialty has a fifty-two week low of $35.84 and a fifty-two week high of $77.16. The company has a 50-day moving average price of $45.57 and a 200-day moving average price of $51.56. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 2.62. The company has a market cap of $9.61 billion, a PE ratio of 86.74, a PEG ratio of 0.99 and a beta of 0.65.

Ryan Specialty (NYSE:RYAN) last released its quarterly earnings data on Thursday, February 12th. The company reported $0.45 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.50 by ($0.05). The firm had revenue of $751.21 million for the quarter, compared to analysts’ expectations of $777.43 million. Ryan Specialty had a return on equity of 46.41% and a net margin of 7.02%.Ryan Specialty’s revenue for the quarter was up 13.2% on a year-over-year basis. During the same period last year, the firm posted $0.45 earnings per share. Sell-side analysts anticipate that Ryan Specialty will post 2.29 EPS for the current fiscal year.

Insiders Place Their Bets

In other Ryan Specialty news, Director Patrick G. Ryan, Jr. bought 25,500 shares of Ryan Specialty stock in a transaction dated Monday, February 23rd. The stock was acquired at an average cost of $39.96 per share, with a total value of $1,018,980.00. Following the completion of the acquisition, the director owned 428,295 shares of the company’s stock, valued at approximately $17,114,668.20. This represents a 6.33% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Timothy William Turner sold 129,570 shares of the stock in a transaction dated Friday, December 12th. The stock was sold at an average price of $53.61, for a total transaction of $6,946,247.70. Following the sale, the chief executive officer owned 12,553 shares of the company’s stock, valued at $672,966.33. This trade represents a 91.17% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 52.21% of the company’s stock.

Institutional Investors Weigh In On Ryan Specialty

Large investors have recently modified their holdings of the stock. Vulcan Value Partners LLC lifted its holdings in shares of Ryan Specialty by 631.7% during the fourth quarter. Vulcan Value Partners LLC now owns 4,621,079 shares of the company’s stock worth $238,536,000 after purchasing an additional 3,989,502 shares during the period. T. Rowe Price Investment Management Inc. raised its position in Ryan Specialty by 79.9% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 7,552,002 shares of the company’s stock worth $389,910,000 after buying an additional 3,353,926 shares during the last quarter. Independent Franchise Partners LLP acquired a new stake in shares of Ryan Specialty in the 3rd quarter worth $95,798,000. Adage Capital Partners GP L.L.C. boosted its holdings in shares of Ryan Specialty by 1,510.0% in the fourth quarter. Adage Capital Partners GP L.L.C. now owns 1,610,000 shares of the company’s stock valued at $83,124,000 after acquiring an additional 1,510,000 shares in the last quarter. Finally, Champlain Investment Partners LLC boosted its holdings in shares of Ryan Specialty by 76.9% in the third quarter. Champlain Investment Partners LLC now owns 3,066,011 shares of the company’s stock valued at $172,800,000 after acquiring an additional 1,332,773 shares in the last quarter. Hedge funds and other institutional investors own 84.82% of the company’s stock.

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.