Ryan Specialty (NYSE:RYAN) PT Raised to $84.00

Ryan Specialty (NYSE:RYAN) had its price objective upped by equities researchers at Bank of America from $75.00 to $84.00 in a note issued to investors on Thursday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. Bank of America‘s price target indicates a potential upside of 17.06% from the stock’s current price.

Other equities analysts have also issued research reports about the stock. BMO Capital Markets upgraded shares of Ryan Specialty from a “market perform” rating to an “outperform” rating and lifted their target price for the company from $65.00 to $75.00 in a report on Tuesday, September 24th. Wells Fargo & Company upped their target price on Ryan Specialty from $63.00 to $70.00 and gave the stock an “equal weight” rating in a research report on Thursday. The Goldman Sachs Group raised their target price on Ryan Specialty from $64.00 to $72.00 and gave the company a “neutral” rating in a report on Wednesday. JPMorgan Chase & Co. upped their price target on Ryan Specialty from $54.00 to $56.00 and gave the stock an “underweight” rating in a report on Friday, August 2nd. Finally, Citigroup lifted their price objective on shares of Ryan Specialty from $56.00 to $62.00 and gave the company a “neutral” rating in a research note on Tuesday, July 23rd. One analyst has rated the stock with a sell rating, five have assigned a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $70.33.

Ryan Specialty Price Performance

Shares of Ryan Specialty stock opened at $71.76 on Thursday. The business’s fifty day moving average price is $65.68 and its 200 day moving average price is $58.67. Ryan Specialty has a twelve month low of $41.49 and a twelve month high of $72.97. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 1.81. The stock has a market capitalization of $18.76 billion, a P/E ratio of 112.13, a PEG ratio of 1.70 and a beta of 0.62.

Ryan Specialty (NYSE:RYAN) last issued its earnings results on Thursday, August 1st. The company reported $0.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.56 by $0.02. Ryan Specialty had a return on equity of 48.08% and a net margin of 10.21%. The business had revenue of $695.40 million during the quarter, compared to analysts’ expectations of $695.56 million. During the same quarter in the previous year, the business earned $0.45 EPS. The company’s revenue for the quarter was up 18.9% on a year-over-year basis. As a group, research analysts anticipate that Ryan Specialty will post 1.81 earnings per share for the current year.

Insider Activity at Ryan Specialty

In related news, Director Nicholas Dominic Cortezi sold 5,375 shares of the firm’s stock in a transaction that occurred on Wednesday, August 28th. The shares were sold at an average price of $64.73, for a total transaction of $347,923.75. Following the completion of the sale, the director now directly owns 2,685 shares in the company, valued at approximately $173,800.05. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, President Timothy William Turner sold 2,000,000 shares of the company’s stock in a transaction on Friday, August 9th. The shares were sold at an average price of $62.45, for a total transaction of $124,900,000.00. Following the completion of the transaction, the president now directly owns 8,095 shares in the company, valued at $505,532.75. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Nicholas Dominic Cortezi sold 5,375 shares of the stock in a transaction dated Wednesday, August 28th. The stock was sold at an average price of $64.73, for a total transaction of $347,923.75. Following the completion of the transaction, the director now directly owns 2,685 shares of the company’s stock, valued at $173,800.05. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 2,107,136 shares of company stock valued at $131,860,032 over the last ninety days. Insiders own 11.10% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Virtu Financial LLC bought a new stake in shares of Ryan Specialty during the 4th quarter worth approximately $283,000. Vanguard Group Inc. boosted its holdings in shares of Ryan Specialty by 2.2% in the 4th quarter. Vanguard Group Inc. now owns 9,397,569 shares of the company’s stock valued at $404,283,000 after purchasing an additional 198,945 shares in the last quarter. Kapitalo Investimentos Ltda bought a new stake in Ryan Specialty during the 4th quarter worth $106,000. Renaissance Capital LLC raised its holdings in Ryan Specialty by 4.6% during the 1st quarter. Renaissance Capital LLC now owns 63,364 shares of the company’s stock worth $3,517,000 after purchasing an additional 2,800 shares during the last quarter. Finally, Cooper Financial Group bought a new position in Ryan Specialty in the first quarter worth approximately $261,000. 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.