Ryan Specialty (NYSE:RYAN) Price Target Lowered to $80.00 at UBS Group

Key Points

• UBS Group lowered its price target for Ryan Specialty from $84.00 to $80.00, while maintaining a "buy" rating, indicating a potential upside of 37.68% from the current stock price.
• Other analysts, including Morgan Stanley and Barclays, have also reduced their price targets for Ryan Specialty, with the average consensus rating being a "Moderate Buy" and an average price target of $77.30.
• Ryan Specialty reported earnings of $0.66 per share, matching analyst expectations, and highlighted a year-over-year revenue increase of 23.0%, reaching $855.17 million for the quarter.

Ryan Specialty (NYSE:RYAN - Get Free Report) had its price target cut by investment analysts at UBS Group from $84.00 to $80.00 in a research report issued to clients and investors on Monday,Benzinga reports. The brokerage presently has a "buy" rating on the stock. UBS Group's price objective indicates a potential upside of 37.68% from the company's current price.

Several other analysts have also recently weighed in on the company. Morgan Stanley lowered their price target on Ryan Specialty from $80.00 to $78.00 and set an "overweight" rating on the stock in a report on Monday, July 14th. Barclays lowered their target price on shares of Ryan Specialty from $83.00 to $79.00 and set an "overweight" rating on the stock in a research note on Monday, July 7th. Wells Fargo & Company cut their price target on shares of Ryan Specialty from $63.00 to $60.00 and set an "equal weight" rating for the company in a research note on Friday. Keefe, Bruyette & Woods decreased their price target on shares of Ryan Specialty from $76.00 to $75.00 and set an "outperform" rating on the stock in a report on Wednesday, April 9th. Finally, Wall Street Zen raised shares of Ryan Specialty from a "sell" rating to a "hold" rating in a report on Sunday. Three research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, Ryan Specialty currently has a consensus rating of "Moderate Buy" and an average price target of $77.30.

Ryan Specialty Price Performance

NYSE:RYAN traded up $0.26 during trading hours on Monday, hitting $58.11. The stock had a trading volume of 262,196 shares, compared to its average volume of 1,049,122. The company has a 50 day simple moving average of $66.47 and a two-hundred day simple moving average of $68.22. The company has a debt-to-equity ratio of 2.88, a current ratio of 1.01 and a quick ratio of 1.05. Ryan Specialty has a one year low of $55.77 and a one year high of $77.16. The firm has a market capitalization of $15.25 billion, a price-to-earnings ratio of 165.65, a P/E/G ratio of 1.57 and a beta of 0.64.

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

Insiders Place Their Bets

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

Institutional Trading of Ryan Specialty

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. GAMMA Investing LLC increased its position in Ryan Specialty by 21.8% during the 1st quarter. GAMMA Investing LLC now owns 2,101 shares of the company's stock valued at $155,000 after purchasing an additional 376 shares during the period. Wealth Enhancement Advisory Services LLC boosted its stake in shares of Ryan Specialty by 3.9% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 12,215 shares of the company's stock valued at $902,000 after purchasing an additional 460 shares in the last quarter. Wealth Alliance LLC purchased a new position in shares of Ryan Specialty during the first quarter valued at about $303,000. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in Ryan Specialty in the first quarter worth about $1,927,000. Finally, Sumitomo Life Insurance Co. bought a new position in Ryan Specialty in the first quarter worth about $1,056,000. 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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