Ryan Specialty (NYSE:RYAN) Given New $64.00 Price Target at Wells Fargo & Company

Ryan Specialty (NYSE:RYAN) had its price objective cut by Wells Fargo & Company from $68.00 to $64.00 in a report released on Tuesday,Benzinga reports. The brokerage currently has an “equal weight” rating on the stock. Wells Fargo & Company‘s price objective would indicate a potential downside of 2.07% from the company’s previous close.

A number of other equities analysts have also issued reports on the company. Barclays raised their target price on Ryan Specialty from $76.00 to $88.00 and gave the stock an “overweight” rating in a research note on Thursday, November 21st. BMO Capital Markets upgraded Ryan Specialty from a “market perform” rating to an “outperform” rating and raised their price objective for the stock from $65.00 to $75.00 in a research note on Tuesday, September 24th. Bank of America increased their price target on shares of Ryan Specialty from $75.00 to $84.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. Keefe, Bruyette & Woods dropped their target price on Ryan Specialty from $79.00 to $77.00 and set an “outperform” rating on the stock in a report on Friday. Finally, The Goldman Sachs Group boosted their price target on shares of Ryan Specialty from $64.00 to $72.00 and gave the stock a “neutral” rating in a report on Wednesday, October 9th. One equities research 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 has a consensus rating of “Hold” and an average target price of $74.40.

Ryan Specialty Trading Up 0.5 %

RYAN stock traded up $0.33 during trading on Tuesday, hitting $65.35. The company had a trading volume of 83,138 shares, compared to its average volume of 1,069,171. The company has a 50 day simple moving average of $68.24 and a 200-day simple moving average of $65.74. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 2.40. Ryan Specialty has a 52-week low of $42.21 and a 52-week high of $75.97. The firm has a market capitalization of $17.11 billion, a P/E ratio of 84.87, a PEG ratio of 1.52 and a beta of 0.72.

Ryan Specialty (NYSE:RYAN) last issued its quarterly earnings data on Wednesday, October 30th. The company reported $0.41 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.41. Ryan Specialty had a return on equity of 47.90% and a net margin of 10.31%. The company had revenue of $604.69 million for the quarter, compared to the consensus estimate of $602.04 million. During the same quarter last year, the company earned $0.32 earnings per share. The firm’s revenue for the quarter was up 20.5% compared to the same quarter last year. As a group, research analysts forecast that Ryan Specialty will post 1.82 earnings per share for the current fiscal year.

Insider Activity at Ryan Specialty

In related news, EVP Mark Stephen Katz sold 14,790 shares of the stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $71.39, for a total transaction of $1,055,858.10. Following the completion of the transaction, the executive vice president now directly owns 12,386 shares of the company’s stock, valued at $884,236.54. This represents a 54.42 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Nicholas Dominic Cortezi sold 35,000 shares of Ryan Specialty stock in a transaction that occurred on Wednesday, December 18th. The shares were sold at an average price of $65.17, for a total value of $2,280,950.00. Following the completion of the sale, the director now owns 50,400 shares in the company, valued at approximately $3,284,568. This trade represents a 40.98 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 126,936 shares of company stock valued at $8,536,282 over the last quarter. 11.10% of the stock is owned by insiders.

Hedge Funds Weigh In On Ryan Specialty

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