Barclays Cuts Ryan Specialty (NYSE:RYAN) Price Target to $79.00

Ryan Specialty (NYSE:RYAN - Get Free Report) had its price objective lowered by equities researchers at Barclays from $83.00 to $79.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage presently has an "overweight" rating on the stock. Barclays's price objective suggests a potential upside of 21.18% from the stock's current price.

A number of other equities analysts have also recently issued reports on RYAN. Morgan Stanley raised their target price on Ryan Specialty from $78.00 to $80.00 and gave the stock an "overweight" rating in a report on Monday, May 19th. The Goldman Sachs Group upgraded Ryan Specialty from a "neutral" rating to a "buy" rating and raised their target price for the stock from $74.00 to $81.00 in a report on Tuesday, May 13th. Keefe, Bruyette & Woods reduced their target price on Ryan Specialty from $76.00 to $75.00 and set an "outperform" rating on the stock in a report on Wednesday, April 9th. Wells Fargo & Company reduced their target price on Ryan Specialty from $69.00 to $66.00 and set an "equal weight" rating on the stock in a report on Thursday, April 10th. Finally, TD Cowen initiated coverage on Ryan Specialty in a report on Thursday, April 10th. They set a "buy" rating and a $89.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, Ryan Specialty presently has a consensus rating of "Moderate Buy" and a consensus target price of $75.25.

Ryan Specialty Trading Down 1.6%

Ryan Specialty stock traded down $1.03 during mid-day trading on Monday, hitting $65.19. The stock had a trading volume of 70,853 shares, compared to its average volume of 919,704. The stock has a 50-day simple moving average of $68.14 and a two-hundred day simple moving average of $68.11. The stock has a market capitalization of $17.11 billion, a PE ratio of 191.75, a P/E/G ratio of 1.76 and a beta of 0.66. Ryan Specialty has a 12 month low of $55.67 and a 12 month high of $77.16. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 3.45.

Ryan Specialty (NYSE:RYAN - Get Free Report) last posted its quarterly earnings results on Thursday, May 1st. The company reported $0.39 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.39. The business had revenue of $690.17 million for the quarter, compared to analysts' expectations of $680.80 million. Ryan Specialty had a return on equity of 47.70% and a net margin of 6.97%. The firm's quarterly revenue was up 25.0% compared to the same quarter last year. During the same quarter last year, the business earned $0.35 earnings per share. As a group, sell-side analysts forecast that Ryan Specialty will post 2.29 EPS for the current year.

Insider Activity

In other news, EVP Mark Stephen Katz sold 14,377 shares of Ryan Specialty stock in a transaction dated Friday, June 13th. The stock was sold at an average price of $65.84, for a total transaction of $946,581.68. Following the transaction, the executive vice president owned 1,117 shares in the company, valued at $73,543.28. The trade was a 92.79% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director David P. Bolger sold 5,000 shares of Ryan Specialty stock in a transaction dated Tuesday, June 3rd. The shares were sold at an average price of $70.80, for a total value of $354,000.00. Following the transaction, the director owned 71,467 shares in the company, valued at $5,059,863.60. This trade represents a 6.54% decrease in their position. The disclosure for this sale can be found here. Insiders own 52.21% of the company's stock.

Institutional Investors Weigh In On Ryan Specialty

Several institutional investors have recently bought and sold shares of the company. Financiere des Professionnels Fonds d investissement inc. bought a new stake in Ryan Specialty in the 2nd quarter valued at approximately $257,000. Central Pacific Bank Trust Division bought a new stake in Ryan Specialty in the 2nd quarter valued at approximately $31,000. Voya Investment Management LLC lifted its stake in Ryan Specialty by 43.5% in the 1st quarter. Voya Investment Management LLC now owns 147,872 shares of the company's stock valued at $10,923,000 after acquiring an additional 44,843 shares in the last quarter. Flaharty Asset Management LLC lifted its stake in Ryan Specialty by 40.0% in the 1st quarter. Flaharty Asset Management LLC now owns 7,000 shares of the company's stock valued at $517,000 after acquiring an additional 2,000 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in Ryan Specialty by 11.3% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 332,823 shares of the company's stock valued at $24,586,000 after acquiring an additional 33,667 shares in the last quarter. Institutional investors own 84.82% of the company's stock.

About Ryan Specialty

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.