Ryan Specialty (NYSE:RYAN) Price Target Lowered to $78.00 at Morgan Stanley

Ryan Specialty (NYSE:RYAN - Get Free Report) had its price objective dropped by Morgan Stanley from $80.00 to $78.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage currently has an "overweight" rating on the stock. Morgan Stanley's target price suggests a potential upside of 20.07% from the stock's current price.

Several other equities analysts have also recently commented on the stock. TD Cowen initiated coverage on shares of Ryan Specialty in a research note on Thursday, April 10th. They set a "buy" rating and a $89.00 target price for the company. The Goldman Sachs Group upgraded shares of Ryan Specialty from a "neutral" rating to a "buy" rating and upped their target price for the company from $74.00 to $81.00 in a research note on Tuesday, May 13th. Wells Fargo & Company dropped their price objective on shares of Ryan Specialty from $65.00 to $63.00 and set an "equal weight" rating for the company in a research note on Thursday. Barclays dropped their price objective on shares of Ryan Specialty from $83.00 to $79.00 and set an "overweight" rating for the company in a research note on Monday, July 7th. Finally, Keefe, Bruyette & Woods dropped their price objective on shares of Ryan Specialty from $76.00 to $75.00 and set an "outperform" rating for the company in a research note on Wednesday, April 9th. One research analyst has rated the stock with a sell rating, three have given a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $74.83.

Ryan Specialty Stock Performance

NYSE:RYAN traded up $1.07 during trading hours on Monday, hitting $64.96. 94,058 shares of the company traded hands, compared to its average volume of 920,262. The stock has a market capitalization of $17.05 billion, a price-to-earnings ratio of 191.47, a P/E/G ratio of 1.70 and a beta of 0.66. Ryan Specialty has a twelve month low of $56.59 and a twelve month high of $77.16. The firm has a 50-day moving average of $68.08 and a 200 day moving average of $68.16. 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 released its earnings results on Thursday, May 1st. The company reported $0.39 EPS for the quarter, meeting the consensus estimate of $0.39. The firm had revenue of $690.17 million during the quarter, compared to analysts' expectations of $680.80 million. Ryan Specialty had a net margin of 6.97% and a return on equity of 47.70%. The business's quarterly revenue was up 25.0% compared to the same quarter last year. During the same period in the prior year, the company earned $0.35 EPS. On average, analysts forecast that Ryan Specialty will post 2.29 EPS for the current year.

Insider Activity

In related news, EVP Mark Stephen Katz sold 14,377 shares of Ryan Specialty stock in a transaction that occurred on Friday, June 13th. The shares were 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 of the company's stock, valued at $73,543.28. This trade represents a 92.79% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director David P. Bolger sold 5,000 shares of Ryan Specialty stock in a transaction that occurred on Tuesday, June 3rd. The stock was sold at an average price of $70.80, for a total transaction of $354,000.00. Following the transaction, the director directly owned 71,467 shares in the company, valued at $5,059,863.60. The trade was a 6.54% decrease in their position. The disclosure for this sale can be found here. 52.21% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Whittier Trust Co. of Nevada Inc. raised its holdings in Ryan Specialty by 281.6% during the 1st 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 during the period. SVB Wealth LLC acquired a new stake in shares of Ryan Specialty in the first quarter valued at approximately $26,000. WPG Advisers LLC acquired a new stake in shares of Ryan Specialty in the first quarter valued at approximately $32,000. Central Pacific Bank Trust Division acquired a new stake in shares of Ryan Specialty in the second quarter valued at approximately $31,000. Finally, Golden State Wealth Management LLC acquired a new stake in shares of Ryan Specialty in the first quarter valued at approximately $35,000. Institutional investors 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.

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