Barclays Cuts Ryan Specialty (NYSE:RYAN) Price Target to $45.00

Ryan Specialty (NYSE:RYAN) had its target price reduced by Barclays from $52.00 to $45.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Barclays‘s target price would suggest a potential upside of 23.66% from the company’s current price.

A number of other equities analysts also recently issued reports on the stock. Weiss Ratings downgraded shares of Ryan Specialty from a “hold (c-)” rating to a “sell (d+)” rating in a report on Thursday, February 5th. UBS Group lowered their target price on shares of Ryan Specialty from $71.00 to $65.00 and set a “buy” rating on the stock in a research report on Tuesday, February 17th. JPMorgan Chase & Co. dropped their target price on shares of Ryan Specialty from $63.00 to $56.00 and set an “underweight” rating for the company in a report on Wednesday, January 7th. The Goldman Sachs Group set a $61.00 price target on shares of Ryan Specialty in a research report on Wednesday, January 7th. Finally, Zacks Research cut Ryan Specialty from a “hold” rating to a “strong sell” rating in a report on Tuesday, February 24th. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, five have assigned a Hold rating and three have given a Sell rating to the stock. According to MarketBeat, Ryan Specialty currently has a consensus rating of “Hold” and a consensus price target of $56.40.

Ryan Specialty Price Performance

Shares of Ryan Specialty stock traded down $0.06 during trading on Wednesday, reaching $36.39. The company’s stock had a trading volume of 927,933 shares, compared to its average volume of 2,142,681. The business has a 50 day moving average price of $45.57 and a 200-day moving average price of $51.56. Ryan Specialty has a 12-month low of $35.84 and a 12-month high of $77.16. The company has a market capitalization of $9.61 billion, a P/E ratio of 86.74, a price-to-earnings-growth ratio of 0.99 and a beta of 0.65. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 2.62.

Ryan Specialty (NYSE:RYAN) last released its earnings results on Thursday, February 12th. The company reported $0.45 EPS for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.05). The business had revenue of $751.21 million during the quarter, compared to analyst estimates of $777.43 million. Ryan Specialty had a net margin of 7.02% and a return on equity of 46.41%. Ryan Specialty’s revenue was up 13.2% compared to the same quarter last year. During the same period last year, the business posted $0.45 EPS. As a group, sell-side analysts anticipate that Ryan Specialty will post 2.29 EPS for the current year.

Insider Activity at Ryan Specialty

In related news, Director Patrick G. Ryan, Jr. acquired 25,500 shares of the business’s stock in a transaction that occurred on Monday, February 23rd. The stock was purchased at an average cost of $39.96 per share, for a total transaction of $1,018,980.00. Following the transaction, the director directly owned 428,295 shares of the company’s stock, valued at approximately $17,114,668.20. This trade represents a 6.33% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Timothy William Turner sold 129,570 shares of the company’s stock in a transaction that occurred on Friday, December 12th. The shares were sold at an average price of $53.61, for a total value of $6,946,247.70. Following the completion of the sale, the chief executive officer directly owned 12,553 shares in the company, valued at approximately $672,966.33. The trade was a 91.17% decrease in their position. The SEC filing for this sale provides additional information. 52.21% of the stock is owned by corporate insiders.

Institutional Trading of Ryan Specialty

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. T. Rowe Price Investment Management Inc. raised its stake in Ryan Specialty by 79.9% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 7,552,002 shares of the company’s stock valued at $389,910,000 after purchasing an additional 3,353,926 shares during the last quarter. Capital World Investors grew its holdings in shares of Ryan Specialty by 0.3% during the fourth quarter. Capital World Investors now owns 6,640,638 shares of the company’s stock worth $342,856,000 after buying an additional 17,082 shares in the last quarter. Vulcan Value Partners LLC grew 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 buying an additional 3,989,502 shares in the last quarter. Principal Financial Group Inc. raised its position in shares of Ryan Specialty by 21.1% in the third quarter. Principal Financial Group Inc. now owns 4,392,717 shares of the company’s stock valued at $247,576,000 after buying an additional 765,428 shares during the last quarter. Finally, Montrusco Bolton Investments Inc. lifted its stake in shares of Ryan Specialty by 9.3% during the fourth quarter. Montrusco Bolton Investments Inc. now owns 4,343,116 shares of the company’s stock valued at $218,010,000 after buying an additional 368,247 shares during the period. 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.