Wells Fargo & Company Issues Pessimistic Forecast for Ryan Specialty (NYSE:RYAN) Stock Price

Key Points

• Wells Fargo lowered Ryan Specialty’s price target from $43 to $41 while maintaining an “equal weight” rating, implying approximately 10.5% upside from the prior close.
• Analyst sentiment remains mixed: the stock has a consensus “Hold” rating and a $52.21 average price target, with eight Buy, ten Hold, and one Sell ratings.
• Ryan Specialty reported quarterly EPS of $0.74, exceeding the $0.60 consensus estimate, while revenue rose 7.2% year over year to $916.65 million. Shares recently traded at $37.10, and institutional investors own 84.82% of the company.

Ryan Specialty (NYSE:RYAN - Get Free Report) had its price objective lowered by equities researchers at Wells Fargo & Company from $43.00 to $41.00 in a research report issued on Monday, Benzinga reports. The brokerage presently has an "equal weight" rating on the stock. Wells Fargo & Company's target price points to a potential upside of 10.51% from the stock's previous close.

Several other brokerages have also weighed in on RYAN. Piper Sandler decreased their price objective on shares of Ryan Specialty from $48.00 to $40.00 and set a "neutral" rating for the company in a report on Tuesday, October 6th. UBS Group boosted their target price on shares of Ryan Specialty from $50.00 to $55.00 and gave the stock a "buy" rating in a research report on Monday, August 3rd. Barclays upped their target price on shares of Ryan Specialty from $46.00 to $48.00 and gave the company an "overweight" rating in a research note on Friday, July 31st. Mizuho reduced their price target on shares of Ryan Specialty from $43.00 to $40.00 and set a "neutral" rating on the stock in a research report on Wednesday. Finally, Weiss Ratings raised shares of Ryan Specialty from a "hold (c-)" rating to a "hold (c)" rating in a research report on Friday, September 18th. Eight equities research analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $52.21.

Ryan Specialty Stock Up 0.2%

Shares of Ryan Specialty stock traded up $0.09 on Monday, hitting $37.10. 159,611 shares of the company's stock traded hands, compared to its average volume of 2,209,885. Ryan Specialty has a 52-week low of $29.28 and a 52-week high of $58.94. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 3.51. The stock has a market cap of $9.49 billion, a P/E ratio of 51.60, a PEG ratio of 0.74 and a beta of 0.61. The firm's 50-day moving average is $40.79 and its 200 day moving average is $37.66.

Ryan Specialty (NYSE:RYAN - Get Free Report) last issued its quarterly earnings results on Thursday, July 30th. The company reported $0.74 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.60 by $0.14. The business had revenue of $916.65 million during the quarter, compared to analyst estimates of $873.93 million. Ryan Specialty had a net margin of 7.55% and a return on equity of 43.97%. The business's revenue was up 7.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.66 earnings per share. Equities analysts anticipate that Ryan Specialty will post 2.17 earnings per share for the current year.

Hedge Funds Weigh In On Ryan Specialty

A number of large investors have recently bought and sold shares of the business. GAMMA Investing LLC boosted its stake in Ryan Specialty by 30.5% in the third quarter. GAMMA Investing LLC now owns 2,749 shares of the company's stock valued at $102,000 after acquiring an additional 642 shares during the period. Farther Finance Advisors LLC raised its position in shares of Ryan Specialty by 464.1% during the 3rd quarter. Farther Finance Advisors LLC now owns 3,599 shares of the company's stock worth $133,000 after purchasing an additional 2,961 shares during the period. Fenimore Asset Management Inc raised its position in shares of Ryan Specialty by 1.8% during the 3rd quarter. Fenimore Asset Management Inc now owns 1,330,600 shares of the company's stock worth $49,232,000 after purchasing an additional 23,994 shares during the period. Confluence Investment Management LLC lifted its holdings in shares of Ryan Specialty by 64.6% in the 3rd quarter. Confluence Investment Management LLC now owns 311,140 shares of the company's stock worth $11,512,000 after purchasing an additional 122,139 shares during the last quarter. Finally, WINTON GROUP Ltd bought a new stake in shares of Ryan Specialty in the 2nd quarter worth approximately $351,000. Institutional investors own 84.82% of the company's stock.

About Ryan Specialty

Ryan Specialty Holdings, Inc is a specialty insurance services company that supports insurance brokers, agents, carriers and other industry participants. Its businesses focus on areas of the market that often require specialized underwriting expertise, distribution capabilities and risk-management knowledge.

The company operates through wholesale brokerage, underwriting management and delegated authority platforms. Its products and services address a range of specialty lines, including property and casualty insurance, professional liability, cyber coverage, transactional risk, transportation, environmental risks and other complex or hard-to-place exposures.

Ryan Specialty was founded in 2010 by Patrick G.

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