JPMorgan Chase & Co. Increases Ryan Specialty (NYSE:RYAN) Price Target to $49.00

Ryan Specialty (NYSE:RYAN - Get Free Report) had its target price upped by research analysts at JPMorgan Chase & Co. from $47.00 to $49.00 in a research note issued on Monday, Benzinga reports. The brokerage currently has an "underweight" rating on the stock. JPMorgan Chase & Co.'s price objective would indicate a potential downside of 6.61% from the company's current price.

Other research analysts also recently issued reports about the company. Citigroup raised their price target on Ryan Specialty from $49.00 to $52.00 and gave the company a "neutral" rating in a research note on Wednesday, February 28th. Keefe, Bruyette & Woods lifted their target price on Ryan Specialty from $55.00 to $56.00 and gave the stock an "outperform" rating in a research note on Wednesday, February 28th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and four have assigned a buy rating to the company's stock. According to data from MarketBeat, Ryan Specialty has an average rating of "Hold" and an average target price of $52.88.

Ryan Specialty Trading Up 0.5 %

NYSE:RYAN traded up $0.25 during mid-day trading on Monday, hitting $52.47. The company had a trading volume of 998,277 shares, compared to its average volume of 758,865. Ryan Specialty has a fifty-two week low of $39.44 and a fifty-two week high of $56.51. The business's fifty day moving average is $50.21 and its two-hundred day moving average is $46.75. The company has a debt-to-equity ratio of 1.98, a quick ratio of 1.16 and a current ratio of 1.16. The firm has a market cap of $13.65 billion, a P/E ratio of 102.88 and a beta of 0.52.

Ryan Specialty (NYSE:RYAN - Get Free Report) last released its quarterly earnings results on Tuesday, February 27th. The company reported $0.35 EPS for the quarter, hitting analysts' consensus estimates of $0.35. The company had revenue of $532.90 million for the quarter, compared to analyst estimates of $524.08 million. Ryan Specialty had a return on equity of 44.84% and a net margin of 9.36%. Ryan Specialty's revenue was up 22.5% compared to the same quarter last year. During the same quarter last year, the firm posted $0.27 earnings per share. As a group, research analysts expect that Ryan Specialty will post 1.77 earnings per share for the current year.

Institutional Trading of Ryan Specialty

Several hedge funds have recently added to or reduced their stakes in RYAN. PNC Financial Services Group Inc. raised its holdings in Ryan Specialty by 192.0% in the 3rd quarter. PNC Financial Services Group Inc. now owns 549 shares of the company's stock valued at $27,000 after acquiring an additional 361 shares in the last quarter. Royal Bank of Canada raised its holdings in shares of Ryan Specialty by 524.8% during the 1st quarter. Royal Bank of Canada now owns 781 shares of the company's stock worth $31,000 after buying an additional 656 shares in the last quarter. Comerica Bank acquired a new position in shares of Ryan Specialty during the 3rd quarter worth $34,000. Parkside Financial Bank & Trust grew its position in Ryan Specialty by 1,283.6% during the 4th quarter. Parkside Financial Bank & Trust now owns 1,010 shares of the company's stock worth $43,000 after acquiring an additional 937 shares during the last quarter. Finally, American International Group Inc. bought a new stake in Ryan Specialty during the 2nd quarter worth $50,000. 84.82% of the stock is owned by institutional investors and hedge funds.

Ryan Specialty Company Profile

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.