Ryan Specialty (NYSE:RYAN) Given New $88.00 Price Target at Barclays

Ryan Specialty (NYSE:RYAN) had its price target upped by equities researchers at Barclays from $76.00 to $88.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Barclays‘s price objective would suggest a potential upside of 19.70% from the stock’s previous close.

Other analysts also recently issued reports about the stock. Wells Fargo & Company increased their price target on shares of Ryan Specialty from $63.00 to $70.00 and gave the company an “equal weight” rating in a research report on Thursday, October 10th. JPMorgan Chase & Co. lifted their price target on shares of Ryan Specialty from $54.00 to $56.00 and gave the stock an “underweight” rating in a research report on Friday, August 2nd. The Goldman Sachs Group upped their price objective on shares of Ryan Specialty from $64.00 to $72.00 and gave the company a “neutral” rating in a research report on Wednesday, October 9th. BMO Capital Markets upgraded Ryan Specialty from a “market perform” rating to an “outperform” rating and lifted their target price for the stock from $65.00 to $75.00 in a report on Tuesday, September 24th. Finally, UBS Group boosted their target price on Ryan Specialty from $67.00 to $76.00 and gave the company a “buy” rating in a research note on Tuesday, August 13th. One analyst has rated the stock with a sell rating, five have given a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $71.67.

Ryan Specialty Price Performance

RYAN opened at $73.52 on Thursday. The company has a fifty day moving average price of $69.06 and a two-hundred day moving average price of $62.51. The firm has a market capitalization of $19.25 billion, a PE ratio of 95.48, a P/E/G ratio of 1.60 and a beta of 0.62. Ryan Specialty has a 52 week low of $41.49 and a 52 week high of $74.53. 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 announced its quarterly earnings data on Wednesday, October 30th. The company reported $0.41 EPS for the quarter, hitting analysts’ consensus estimates of $0.41. Ryan Specialty had a return on equity of 47.90% and a net margin of 10.31%. The business had revenue of $604.69 million during the quarter, compared to analysts’ expectations of $602.04 million. During the same period in the previous year, the firm earned $0.32 earnings per share. The firm’s quarterly revenue was up 20.5% compared to the same quarter last year. As a group, analysts anticipate that Ryan Specialty will post 1.8 earnings per share for the current year.

Insider Transactions at Ryan Specialty

In other Ryan Specialty news, EVP Mark Stephen Katz sold 14,790 shares of the firm’s stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $71.39, for a total value of $1,055,858.10. Following the completion of the transaction, the executive vice president now directly owns 12,386 shares in the company, valued at $884,236.54. This trade represents a 54.42 % decrease in their ownership of the stock. 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 2,325 shares of the business’s stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $64.60, for a total value of $150,195.00. Following the transaction, the director now directly owns 3,463 shares in the company, valued at $223,709.80. This trade represents a 40.17 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 22,490 shares of company stock valued at $1,553,977 over the last 90 days. 11.10% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Ryan Specialty

Hedge funds and other institutional investors have recently made changes to their positions in the company. Virtu Financial LLC bought a new stake in Ryan Specialty during the third quarter worth $263,000. Teachers Retirement System of The State of Kentucky increased its stake in shares of Ryan Specialty by 51.5% during the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 30,760 shares of the company’s stock worth $2,042,000 after purchasing an additional 10,460 shares during the last quarter. Executive Wealth Management LLC raised its holdings in shares of Ryan Specialty by 96.4% in the 3rd quarter. Executive Wealth Management LLC now owns 8,383 shares of the company’s stock valued at $557,000 after purchasing an additional 4,115 shares during the period. Barclays PLC lifted its stake in Ryan Specialty by 1.1% in the 3rd quarter. Barclays PLC now owns 1,641,743 shares of the company’s stock valued at $108,994,000 after purchasing an additional 17,267 shares during the last quarter. Finally, XTX Topco Ltd bought a new position in Ryan Specialty during the third quarter worth about $306,000. 84.82% of the stock is owned by institutional investors.

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.