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

Key Points

• Wells Fargo & Company raised its price target for Ryan Specialty from $60.00 to $64.00, indicating a potential upside of approximately 9.86% from the previous close.
• Ryan Specialty currently holds a consensus rating of "Moderate Buy" among analysts, with the average target price set at $72.83.
• In a noteworthy transaction, Chairman Patrick G. Ryan purchased 276,634 shares at an average price of $51.84, increasing his ownership stake in the company significantly.

Ryan Specialty (NYSE:RYAN - Get Free Report) had its target price upped by equities research analysts at Wells Fargo & Company from $60.00 to $64.00 in a report released on Wednesday,Benzinga reports. The firm currently has an "overweight" rating on the stock. Wells Fargo & Company's price objective would indicate a potential upside of 9.86% from the stock's previous close.

RYAN has been the topic of a number of other reports. Wolfe Research raised shares of Ryan Specialty to a "strong-buy" rating in a research note on Tuesday, September 16th. Barclays restated an "overweight" rating and issued a $70.00 target price on shares of Ryan Specialty in a report on Wednesday. Weiss Ratings reiterated a "hold (c-)" rating on shares of Ryan Specialty in a report on Saturday, September 27th. Wall Street Zen raised Ryan Specialty from a "sell" rating to a "hold" rating in a research report on Sunday, August 3rd. Finally, Morgan Stanley lowered their price target on Ryan Specialty from $68.00 to $65.00 and set an "overweight" rating for the company in a research report on Tuesday. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Ryan Specialty has a consensus rating of "Moderate Buy" and an average target price of $72.83.

Ryan Specialty Stock Performance

RYAN traded up $0.05 during trading on Wednesday, hitting $58.26. 151,596 shares of the company traded hands, compared to its average volume of 1,178,155. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 2.88. The firm has a market cap of $15.36 billion, a P/E ratio of 166.33, a price-to-earnings-growth ratio of 1.61 and a beta of 0.63. Ryan Specialty has a one year low of $50.08 and a one year high of $77.16. The stock's fifty day moving average is $56.48 and its 200 day moving average is $64.30.

Ryan Specialty (NYSE:RYAN - Get Free Report) last posted its quarterly earnings results on Thursday, July 31st. The company reported $0.66 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.66. Ryan Specialty had a net margin of 6.81% and a return on equity of 48.70%. The company had revenue of $855.17 million for the quarter, compared to analyst estimates of $837.52 million. During the same quarter in the previous year, the firm posted $0.58 earnings per share. The company's quarterly revenue was up 23.0% compared to the same quarter last year. As a group, equities analysts predict that Ryan Specialty will post 2.29 EPS for the current fiscal year.

Insider Buying and Selling

In other Ryan Specialty news, Chairman Patrick G. Ryan purchased 276,634 shares of the stock in a transaction that occurred on Friday, September 12th. The shares were bought at an average cost of $51.84 per share, with a total value of $14,340,706.56. Following the acquisition, the chairman owned 13,699,959 shares in the company, valued at approximately $710,205,874.56. This trade represents a 2.06% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 52.21% of the company's stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Wealth Enhancement Advisory Services LLC raised its holdings in Ryan Specialty by 3.7% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 11,755 shares of the company's stock valued at $754,000 after buying an additional 420 shares during the period. UMB Bank n.a. raised its stake in Ryan Specialty by 5.0% in the first quarter. UMB Bank n.a. now owns 5,797 shares of the company's stock valued at $428,000 after buying an additional 275 shares during the last quarter. GAMMA Investing LLC raised its stake in shares of Ryan Specialty by 21.8% in the first quarter. GAMMA Investing LLC now owns 2,101 shares of the company's stock worth $155,000 after purchasing an additional 376 shares during the last quarter. SG Americas Securities LLC lifted its holdings in Ryan Specialty by 56.4% in the first quarter. SG Americas Securities LLC now owns 5,088 shares of the company's stock valued at $376,000 after acquiring an additional 1,835 shares during the period. Finally, Fifth Third Bancorp lifted its holdings in Ryan Specialty by 202.5% in the first quarter. Fifth Third Bancorp now owns 484 shares of the company's stock valued at $36,000 after acquiring an additional 324 shares during the period. 84.82% of the stock is owned by hedge funds and other institutional investors.

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.

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