Wells Fargo & Company Lowers Ryan Specialty (NYSE:RYAN) Price Target to $64.00

Ryan Specialty (NYSE:RYAN) had its price objective lowered by investment analysts at Wells Fargo & Company from $68.00 to $64.00 in a research note issued on Tuesday,Benzinga reports. The brokerage currently has an “equal weight” rating on the stock. Wells Fargo & Company‘s price objective points to a potential downside of 2.07% from the stock’s previous close.

Other equities research analysts also recently issued reports about the stock. BMO Capital Markets raised shares of Ryan Specialty from a “market perform” rating to an “outperform” rating and boosted their target price for the stock from $65.00 to $75.00 in a research report on Tuesday, September 24th. Bank of America lifted their price objective on shares of Ryan Specialty from $75.00 to $84.00 and gave the company a “buy” rating in a research note on Thursday, October 10th. Barclays raised their price target on Ryan Specialty from $76.00 to $88.00 and gave the stock an “overweight” rating in a report on Thursday, November 21st. Morgan Stanley assumed coverage on Ryan Specialty in a report on Thursday, December 5th. They set an “overweight” rating and a $90.00 target price for the company. Finally, Keefe, Bruyette & Woods lowered their target price on shares of Ryan Specialty from $79.00 to $77.00 and set an “outperform” rating on the stock in a research note on Friday. One analyst has rated the stock with a sell rating, five have assigned a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $74.40.

Ryan Specialty Price Performance

RYAN stock traded up $0.33 during midday trading on Tuesday, reaching $65.35. 83,138 shares of the stock were exchanged, compared to its average volume of 1,069,171. The stock has a market capitalization of $17.11 billion, a PE ratio of 84.87, a P/E/G ratio of 1.52 and a beta of 0.72. The company has a debt-to-equity ratio of 2.40, a current ratio of 1.01 and a quick ratio of 1.01. The company has a fifty day moving average price of $68.24 and a 200 day moving average price of $65.74. Ryan Specialty has a 52 week low of $42.21 and a 52 week high of $75.97.

Ryan Specialty (NYSE:RYAN) last announced its quarterly earnings results on Wednesday, October 30th. The company reported $0.41 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.41. Ryan Specialty had a net margin of 10.31% and a return on equity of 47.90%. The firm had revenue of $604.69 million during the quarter, compared to analysts’ expectations of $602.04 million. During the same period in the prior year, the company posted $0.32 EPS. The company’s revenue was up 20.5% on a year-over-year basis. As a group, analysts expect that Ryan Specialty will post 1.82 EPS for the current fiscal year.

Insider Buying and Selling at Ryan Specialty

In related news, Director Nicholas Dominic Cortezi sold 35,000 shares of the stock in a transaction that occurred on Wednesday, December 18th. The shares were sold at an average price of $65.17, for a total transaction of $2,280,950.00. Following the transaction, the director now owns 50,400 shares in the company, valued at $3,284,568. This represents a 40.98 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director David P. Bolger sold 7,055 shares of Ryan Specialty stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $70.88, for a total transaction of $500,058.40. Following the completion of the sale, the director now directly owns 78,149 shares of the company’s stock, valued at approximately $5,539,201.12. This trade represents a 8.28 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 126,936 shares of company stock valued at $8,536,282. 11.10% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of RYAN. Signaturefd LLC boosted its stake in Ryan Specialty by 12.3% in the 3rd quarter. Signaturefd LLC now owns 1,347 shares of the company’s stock worth $89,000 after purchasing an additional 148 shares during the period. UMB Bank n.a. boosted its position in shares of Ryan Specialty by 5.2% during the third quarter. UMB Bank n.a. now owns 5,224 shares of the company’s stock worth $347,000 after acquiring an additional 256 shares during the last quarter. Loomis Sayles & Co. L P grew its stake in Ryan Specialty by 26.3% during the third quarter. Loomis Sayles & Co. L P now owns 1,373 shares of the company’s stock valued at $91,000 after acquiring an additional 286 shares in the last quarter. Cooper Financial Group increased its holdings in Ryan Specialty by 9.9% in the 4th quarter. Cooper Financial Group now owns 3,808 shares of the company’s stock valued at $244,000 after acquiring an additional 342 shares during the last quarter. Finally, Hollencrest Capital Management bought a new stake in Ryan Specialty in the 3rd quarter valued at $25,000. Hedge funds and other 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.