Wells Fargo & Company Boosts Ryan Specialty (NYSE:RYAN) Price Target to $58.00

Ryan Specialty (NYSE:RYAN - Get Free Report) had its price target upped by equities research analysts at Wells Fargo & Company from $57.00 to $58.00 in a report issued on Thursday, Benzinga reports. The brokerage presently has an "overweight" rating on the stock. Wells Fargo & Company's price objective indicates a potential upside of 15.13% from the company's previous close.

Several other equities analysts have also recently issued reports on RYAN. Citigroup boosted their target price on Ryan Specialty from $49.00 to $52.00 and gave the stock a "neutral" rating in a research report on Wednesday, February 28th. JPMorgan Chase & Co. boosted their target price on Ryan Specialty from $47.00 to $49.00 and gave the stock an "underweight" rating in a research report on Monday. Finally, Keefe, Bruyette & Woods upped their price target on Ryan Specialty from $56.00 to $62.00 and gave the stock an "outperform" rating in a report on Wednesday. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and four have issued a buy rating to the stock. According to MarketBeat, Ryan Specialty presently has a consensus rating of "Hold" and an average price target of $54.25.

Ryan Specialty Stock Performance

RYAN traded down $0.99 on Thursday, hitting $50.38. 654,243 shares of the company traded hands, compared to its average volume of 757,553. The company has a 50 day moving average of $50.53 and a 200-day moving average of $46.81. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 1.98. The stock has a market capitalization of $13.11 billion, a PE ratio of 99.39 and a beta of 0.52. Ryan Specialty has a 12-month low of $39.44 and a 12-month high of $56.51.

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

Institutional Investors Weigh In On Ryan Specialty

A number of large investors have recently bought and sold shares of the stock. PNC Financial Services Group Inc. lifted its stake in shares of Ryan Specialty by 192.0% during the 3rd quarter. PNC Financial Services Group Inc. now owns 549 shares of the company's stock worth $27,000 after purchasing an additional 361 shares during the period. Royal Bank of Canada lifted its stake 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 purchasing an additional 656 shares during the period. Comerica Bank purchased a new position in shares of Ryan Specialty during the 3rd quarter worth $34,000. Parkside Financial Bank & Trust lifted its stake in shares of 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 purchasing an additional 937 shares during the period. Finally, American International Group Inc. purchased a new position in shares of Ryan Specialty during the 2nd quarter worth $50,000. Institutional investors and hedge funds own 84.82% of the company's stock.

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.