Ryan Specialty Holdings, Inc. (NYSE:RYAN) Receives $74.40 Average Target Price from Brokerages

Ryan Specialty Holdings, Inc. (NYSE:RYAN) has earned a consensus recommendation of “Hold” from the twelve ratings firms that are currently covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and six have issued a buy rating on the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $74.40.

A number of brokerages have recently weighed in on RYAN. Keefe, Bruyette & Woods cut 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, January 10th. Wells Fargo & Company reduced their target price on Ryan Specialty from $68.00 to $64.00 and set an “equal weight” rating on the stock in a report on Tuesday, January 14th. Barclays raised their target price on 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 Ryan Specialty in a research note on Thursday, December 5th. They issued an “overweight” rating and a $90.00 price target on the stock.

Ryan Specialty Stock Performance

NYSE:RYAN opened at $69.55 on Wednesday. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 2.40. The firm’s fifty day simple moving average is $65.56 and its 200 day simple moving average is $67.23. The stock has a market cap of $18.21 billion, a P/E ratio of 90.33, a price-to-earnings-growth ratio of 1.19 and a beta of 0.72. Ryan Specialty has a twelve month low of $45.55 and a twelve month high of $75.97.

Insider Activity

In other news, Director David P. Bolger sold 7,055 shares of the stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $70.88, for a total transaction of $500,058.40. Following the sale, the director now owns 78,149 shares in the company, valued at $5,539,201.12. This represents a 8.28 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Nicholas Dominic Cortezi sold 10,485 shares of the firm’s stock in a transaction that occurred on Thursday, January 23rd. The shares were sold at an average price of $65.12, for a total transaction of $682,783.20. Following the sale, the director now directly owns 11,109 shares of the company’s stock, valued at $723,418.08. This trade represents a 48.56 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 323,506 shares of company stock worth $21,407,851 over the last three months. 11.10% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Hollencrest Capital Management purchased a new position in Ryan Specialty in the 3rd quarter worth about $25,000. Rakuten Securities Inc. bought a new position in Ryan Specialty during the fourth quarter valued at approximately $27,000. Assetmark Inc. purchased a new stake in Ryan Specialty in the third quarter worth approximately $34,000. Kapitalo Investimentos Ltda bought a new stake in Ryan Specialty in the 4th quarter worth approximately $36,000. Finally, Principal Securities Inc. raised its stake in Ryan Specialty by 164.7% during the 4th quarter. Principal Securities Inc. now owns 667 shares of the company’s stock valued at $43,000 after buying an additional 415 shares during the last quarter. 84.82% of the stock is owned by institutional investors.

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.