Barclays Has Lowered Expectations for Ryan Specialty (NYSE:RYAN) Stock Price

Ryan Specialty (NYSE:RYAN) had its price target lowered by equities research analysts at Barclays from $88.00 to $83.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Barclays‘s price objective indicates a potential upside of 14.07% from the stock’s current price.

RYAN has been the topic of a number of other research reports. TD Cowen started coverage on shares of Ryan Specialty in a research report on Thursday. They set a “buy” rating and a $89.00 price target on the stock. Keefe, Bruyette & Woods cut their target price on Ryan Specialty from $76.00 to $75.00 and set an “outperform” rating on the stock in a research report on Wednesday. UBS Group lifted their target price on Ryan Specialty from $82.00 to $84.00 and gave the stock a “buy” rating in a report on Wednesday, February 26th. Wells Fargo & Company dropped their price target on Ryan Specialty from $69.00 to $66.00 and set an “equal weight” rating on the stock in a research note on Thursday. Finally, Royal Bank of Canada reduced their price objective on shares of Ryan Specialty from $73.00 to $72.00 and set a “sector perform” rating for the company in a research report on Friday, February 21st. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $75.67.

Ryan Specialty Stock Performance

Shares of RYAN stock opened at $72.76 on Friday. The stock has a market capitalization of $19.06 billion, a PE ratio of 105.45, a PEG ratio of 1.19 and a beta of 0.66. The business’s 50 day simple moving average is $70.05 and its 200 day simple moving average is $68.86. The company has a debt-to-equity ratio of 2.40, a current ratio of 1.01 and a quick ratio of 1.01. Ryan Specialty has a one year low of $48.48 and a one year high of $77.16.

Ryan Specialty (NYSE:RYAN) last posted its quarterly earnings data on Thursday, February 20th. The company reported $0.45 EPS for the quarter, missing analysts’ consensus estimates of $0.47 by ($0.02). Ryan Specialty had a net margin of 9.14% and a return on equity of 48.01%. The firm had revenue of $663.53 million during the quarter, compared to the consensus estimate of $658.80 million. As a group, research analysts forecast that Ryan Specialty will post 2.29 earnings per share for the current year.

Insider Buying and Selling at Ryan Specialty

In other news, Director Nicholas Dominic Cortezi sold 35,000 shares of the stock in a transaction that occurred on Friday, January 17th. The stock was sold at an average price of $67.15, for a total value of $2,350,250.00. Following the completion of the sale, the director now directly owns 25,809 shares of the company’s stock, valued at $1,733,074.35. This represents a 57.56 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Brendan Martin Mulshine sold 30,000 shares of Ryan Specialty stock in a transaction that occurred on Friday, March 14th. The shares were sold at an average price of $69.30, for a total value of $2,079,000.00. The disclosure for this sale can be found here. In the last 90 days, insiders sold 241,360 shares of company stock worth $16,006,428. 11.10% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Ryan Specialty

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Rakuten Securities Inc. bought a new stake in shares of Ryan Specialty in the 4th quarter worth $27,000. Kapitalo Investimentos Ltda bought a new stake in Ryan Specialty in the 4th quarter worth about $36,000. Principal Securities Inc. increased its stake in Ryan Specialty by 164.7% in 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. Mizuho Bank Ltd. purchased a new stake in Ryan Specialty in the 4th quarter valued at about $49,000. Finally, Headlands Technologies LLC lifted its position in shares of Ryan Specialty by 2,644.8% during the 4th quarter. Headlands Technologies LLC now owns 796 shares of the company’s stock worth $51,000 after buying an additional 767 shares in the last quarter. 84.82% of the stock is owned by hedge funds and other 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.