Ryan Specialty (NYSE:RYAN) Rating Increased to Buy at The Goldman Sachs Group

Ryan Specialty (NYSE:RYAN - Get Free Report) was upgraded by stock analysts at The Goldman Sachs Group from a "neutral" rating to a "buy" rating in a report released on Tuesday, MarketBeat.com reports. The firm presently has a $81.00 target price on the stock, up from their prior target price of $74.00. The Goldman Sachs Group's target price would suggest a potential upside of 14.62% from the stock's current price.

Several other brokerages also recently issued reports on RYAN. Barclays cut their target price on shares of Ryan Specialty from $88.00 to $83.00 and set an "overweight" rating for the company in a research note on Friday, April 11th. TD Cowen initiated coverage on Ryan Specialty in a research report on Thursday, April 10th. They issued a "buy" rating and a $89.00 price objective for the company. Keefe, Bruyette & Woods decreased 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 cut their price target on Ryan Specialty from $69.00 to $66.00 and set an "equal weight" rating for the company in a report on Thursday, April 10th. Finally, UBS Group lifted their price objective on shares of Ryan Specialty from $82.00 to $84.00 and gave the stock a "buy" rating in a research report on Wednesday, February 26th. One analyst has rated the stock with a sell rating, three have issued a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $76.42.

Ryan Specialty Stock Up 1.1%

Shares of Ryan Specialty stock traded up $0.80 on Tuesday, reaching $70.67. 672,673 shares of the company were exchanged, compared to its average volume of 981,555. The company has a market capitalization of $18.55 billion, a price-to-earnings ratio of 102.42, a PEG ratio of 1.19 and a beta of 0.68. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 2.40. Ryan Specialty has a one year low of $52.34 and a one year high of $77.16. The company has a 50-day moving average of $70.16 and a 200 day moving average of $68.73.

Ryan Specialty (NYSE:RYAN - Get Free Report) last issued its earnings results on Thursday, May 1st. The company reported $0.39 earnings per share for the quarter, hitting analysts' consensus estimates of $0.39. The business had revenue of $690.17 million for the quarter, compared to the consensus estimate of $680.80 million. Ryan Specialty had a net margin of 9.14% and a return on equity of 48.01%. The firm's revenue for the quarter was up 25.0% on a year-over-year basis. During the same period in the previous year, the company earned $0.35 earnings per share. On average, equities research analysts forecast that Ryan Specialty will post 2.29 earnings per share for the current year.

Insider Activity at Ryan Specialty

In related news, EVP Brendan Martin Mulshine sold 30,000 shares of the business's stock in a transaction that occurred on Friday, March 14th. The stock was sold at an average price of $69.30, for a total value of $2,079,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 11.10% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Ryan Specialty

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Raymond James Financial Inc. bought a new position in shares of Ryan Specialty in the fourth quarter worth $94,484,000. Norges Bank acquired a new stake in Ryan Specialty during the fourth quarter worth about $78,358,000. Principal Financial Group Inc. increased its holdings in Ryan Specialty by 66.4% in the 1st quarter. Principal Financial Group Inc. now owns 3,051,356 shares of the company's stock valued at $225,404,000 after buying an additional 1,218,147 shares during the period. Millennium Management LLC raised its position in shares of Ryan Specialty by 1,111.4% in the 4th quarter. Millennium Management LLC now owns 1,174,086 shares of the company's stock valued at $75,329,000 after buying an additional 1,077,169 shares in the last quarter. Finally, Invesco Ltd. lifted its holdings in shares of Ryan Specialty by 121.6% during the 1st quarter. Invesco Ltd. now owns 1,590,862 shares of the company's stock worth $117,517,000 after acquiring an additional 872,846 shares during the period. 84.82% of the stock is owned by institutional investors and hedge funds.

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.