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

Key Points

• Wells Fargo raised Ryan Specialty’s price target from $41 to $46 while maintaining an “equal weight” rating, implying roughly 4.95% upside from the prior close.
• Analyst sentiment remains mixed, with a consensus “Hold” rating and an average price target of $52.32; ratings include eight Buys, ten Holds, and one Sell.
• Ryan Specialty exceeded quarterly EPS expectations, reporting $0.51 versus the $0.49 consensus estimate, while revenue of $789.96 million fell slightly short of forecasts.

Ryan Specialty (NYSE:RYAN - Get Free Report) had its price target increased by Wells Fargo & Company from $41.00 to $46.00 in a report released on Monday, Benzinga reports. The brokerage currently has an "equal weight" rating on the stock. Wells Fargo & Company's price target would suggest a potential upside of 4.95% from the company's previous close.

A number of other research analysts have also recently issued reports on the company. JPMorgan Chase & Co. lifted their price objective on Ryan Specialty from $39.00 to $45.00 and gave the company an "underweight" rating in a report on Monday, August 3rd. Barclays lifted their price objective on Ryan Specialty from $46.00 to $48.00 and gave the company an "overweight" rating in a research report on Friday, July 31st. Mizuho reduced their price objective on Ryan Specialty from $43.00 to $40.00 and set a "neutral" rating on the stock in a research note on Wednesday, October 7th. UBS Group increased their target price on Ryan Specialty from $50.00 to $55.00 and gave the stock a "buy" rating in a report on Monday, August 3rd. Finally, Atlantic Securities set a $69.00 target price on Ryan Specialty in a report on Wednesday, July 15th. Eight research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $52.32.

Ryan Specialty Trading Down 0.0%

Shares of RYAN opened at $43.83 on Monday. Ryan Specialty has a 12-month low of $29.28 and a 12-month high of $58.94. The company has a quick ratio of 1.00, a current ratio of 1.01 and a debt-to-equity ratio of 4.03. The firm has a market capitalization of $11.21 billion, a price-to-earnings ratio of 54.11, a P/E/G ratio of 0.90 and a beta of 0.54. The stock's 50-day moving average price is $40.42 and its 200 day moving average price is $39.17.

Ryan Specialty (NYSE:RYAN - Get Free Report) last released its quarterly earnings data on Thursday, October 29th. The company reported $0.51 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.49 by $0.02. Ryan Specialty had a return on equity of 47.77% and a net margin of 8.25%. The business had revenue of $789.96 million for the quarter, compared to analysts' expectations of $792.99 million. During the same period in the previous year, the business posted $0.47 earnings per share. As a group, research analysts predict that Ryan Specialty will post 2.17 earnings per share for the current year.

Institutional Investors Weigh In On Ryan Specialty

Large investors have recently added to or reduced their stakes in the business. Allworth Financial LP boosted its holdings in shares of Ryan Specialty by 70.0% during the second quarter. Allworth Financial LP now owns 787 shares of the company's stock worth $30,000 after acquiring an additional 324 shares during the period. Fortitude Family Office LLC acquired a new stake in Ryan Specialty during the 3rd quarter worth approximately $34,000. Parallel Advisors LLC boosted its stake in Ryan Specialty by 54.9% in the 1st quarter. Parallel Advisors LLC now owns 1,013 shares of the company's stock valued at $34,000 after purchasing an additional 359 shares during the period. Integrated Wealth Concepts LLC bought a new stake in Ryan Specialty in the 2nd quarter valued at $73,000. Finally, Covestor Ltd boosted its stake in Ryan Specialty by 64.2% in the 3rd quarter. Covestor Ltd now owns 1,956 shares of the company's stock valued at $72,000 after purchasing an additional 765 shares during the period. Institutional investors own 84.82% of the company's stock.

Ryan Specialty Company Profile

Ryan Specialty Holdings, Inc is a specialty insurance services company that provides wholesale brokerage, managing general underwriting and delegated authority solutions. The company works with retail insurance brokers, agents, carriers and other market participants to place and manage complex, specialty risks that may require specialized underwriting expertise or customized coverage.

Its business includes specialty insurance and reinsurance brokerage, underwriting management and insurance program administration.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.