Ryan Specialty (NYSE:RYAN) Price Target Cut to $65.00 by Analysts at Morgan Stanley

Key Points

• Analysts at Morgan Stanley have reduced their price target for Ryan Specialty from $68.00 to $65.00, while maintaining an "overweight" rating, suggesting potential upside of 12.28% from the current share price.
• The company reported $0.66 EPS in its last earnings release, meeting analysts' estimates, with revenues of $855.17 million, reflecting a 23% increase year-over-year.
• Recent insider trading shows Chairman Patrick G. Ryan purchased 276,634 shares at an average price of $51.84, increasing his stake in the company significantly.

Ryan Specialty (NYSE:RYAN - Get Free Report) had its price objective cut by equities researchers at Morgan Stanley from $68.00 to $65.00 in a research note issued on Tuesday,Benzinga reports. The brokerage currently has an "overweight" rating on the stock. Morgan Stanley's target price indicates a potential upside of 12.28% from the company's current price.

Other research analysts have also recently issued reports about the stock. Wells Fargo & Company upgraded shares of Ryan Specialty from an "equal weight" rating to an "overweight" rating and set a $60.00 target price on the stock in a research note on Wednesday, September 17th. Citigroup assumed coverage on Ryan Specialty in a research note on Wednesday, August 13th. They issued a "buy" rating and a $74.00 price objective on the stock. Wolfe Research raised Ryan Specialty to a "strong-buy" rating in a report on Tuesday, September 16th. Barclays lowered their target price on Ryan Specialty from $83.00 to $79.00 and set an "overweight" rating on the stock in a research note on Monday, July 7th. Finally, Wall Street Zen raised Ryan Specialty from a "sell" rating to a "hold" rating in a research report on Sunday, August 3rd. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and three have given a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $73.67.

Ryan Specialty Stock Performance

Ryan Specialty stock traded up $0.07 during mid-day trading on Tuesday, reaching $57.89. 290,978 shares of the company's stock were exchanged, compared to its average volume of 1,178,011. The firm has a market capitalization of $15.27 billion, a PE ratio of 165.55, a P/E/G ratio of 1.61 and a beta of 0.63. 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 business's fifty day simple moving average is $56.52 and its 200 day simple moving average is $64.34. Ryan Specialty has a one year low of $50.08 and a one year high of $77.16.

Ryan Specialty (NYSE:RYAN - Get Free Report) last released its earnings results on Thursday, July 31st. The company reported $0.66 EPS for the quarter, hitting analysts' consensus estimates of $0.66. The company had revenue of $855.17 million for the quarter, compared to analysts' expectations of $837.52 million. Ryan Specialty had a return on equity of 48.70% and a net margin of 6.81%.The business's revenue for the quarter was up 23.0% compared to the same quarter last year. During the same period in the previous year, the business posted $0.58 EPS. On average, sell-side analysts expect that Ryan Specialty will post 2.29 earnings per share for the current year.

Insider Buying and Selling

In other news, Chairman Patrick G. Ryan bought 276,634 shares of the firm's stock in a transaction that occurred on Friday, September 12th. The shares were acquired at an average price of $51.84 per share, with a total value of $14,340,706.56. Following the acquisition, the chairman owned 13,699,959 shares of the company's stock, valued at approximately $710,205,874.56. The trade was a 2.06% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 52.21% of the company's stock.

Institutional Investors Weigh In On Ryan Specialty

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Whittier Trust Co. of Nevada Inc. grew its position in Ryan Specialty by 281.6% during the first quarter. Whittier Trust Co. of Nevada Inc. now owns 332 shares of the company's stock worth $25,000 after buying an additional 245 shares in the last quarter. SVB Wealth LLC purchased a new position in shares of Ryan Specialty during the first quarter worth about $26,000. WPG Advisers LLC bought a new position in shares of Ryan Specialty in the first quarter worth approximately $32,000. Golden State Wealth Management LLC raised its stake in Ryan Specialty by 10,975.0% in the second quarter. Golden State Wealth Management LLC now owns 443 shares of the company's stock valued at $30,000 after purchasing an additional 439 shares in the last quarter. Finally, Central Pacific Bank Trust Division bought a new stake in Ryan Specialty during the second quarter valued at approximately $31,000. Hedge funds and other 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.

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