Ryan Specialty (NYSE:RYAN) Upgraded at Cantor Fitzgerald

Key Points

• Ryan Specialty has been upgraded to a "hold" rating by Cantor Fitzgerald, while other analysts, including Citigroup and Goldman Sachs, maintain buy ratings with price targets around $74.00 to $81.00.
• Ryan Specialty reported a revenue increase of 23.0% year-over-year to $855.17 million, achieving earnings per share of $0.66, meeting market expectations.
• Insider trading activity includes Director David P. Bolger selling 5,000 shares and EVP Mark Stephen Katz selling 14,377 shares, reflecting notable decreases in their stakes in the company.

Ryan Specialty (NYSE:RYAN - Get Free Report) was upgraded by research analysts at Cantor Fitzgerald to a "hold" rating in a note issued to investors on Wednesday,Zacks.com reports.

Other equities research analysts have also issued research reports about the company. Citigroup began coverage on Ryan Specialty in a research note on Wednesday. They set a "buy" rating and a $74.00 price target on the stock. Wall Street Zen raised Ryan Specialty from a "sell" rating to a "hold" rating in a research note on Sunday, August 3rd. UBS Group decreased their price target on Ryan Specialty from $84.00 to $80.00 and set a "buy" rating on the stock in a research note on Monday, August 4th. Barclays decreased their price target 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, The Goldman Sachs Group raised Ryan Specialty from a "neutral" rating to a "buy" rating and boosted their price target for the stock from $74.00 to $81.00 in a research note on Tuesday, May 13th. Four equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company's stock. Based on data from MarketBeat.com, Ryan Specialty has an average rating of "Moderate Buy" and an average price target of $75.08.

Ryan Specialty Price Performance

Shares of RYAN opened at $60.98 on Wednesday. Ryan Specialty has a twelve month low of $55.77 and a twelve month high of $77.16. The stock's 50 day moving average is $64.62 and its two-hundred day moving average is $67.81. The firm has a market capitalization of $16.08 billion, a PE ratio of 174.23, a P/E/G ratio of 1.65 and a beta of 0.64. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 2.88.

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

Insider Activity at Ryan Specialty

In related news, 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 completion of 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 sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Mark Stephen Katz sold 14,377 shares of Ryan Specialty stock in a transaction that occurred on Friday, June 13th. The stock was sold at an average price of $65.84, for a total value 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 represents a 92.79% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 52.21% of the company's stock.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Whittier Trust Co. of Nevada Inc. lifted its stake in shares of 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 purchasing an additional 245 shares during the period. SVB Wealth LLC purchased a new position in shares of Ryan Specialty during the 1st quarter worth $26,000. WPG Advisers LLC purchased a new position in shares of Ryan Specialty during the 1st quarter worth $32,000. Golden State Wealth Management LLC lifted its stake in shares of Ryan Specialty by 10,975.0% during the 2nd quarter. Golden State Wealth Management LLC now owns 443 shares of the company's stock worth $30,000 after purchasing an additional 439 shares during the period. Finally, Central Pacific Bank Trust Division purchased a new position in shares of Ryan Specialty during the 2nd quarter worth $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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