The Goldman Sachs Group Cuts Ryan Specialty (NYSE:RYAN) Price Target to $49.00

Key Points

• The Goldman Sachs Group cut its price target on Ryan Specialty from $57 to $49 while maintaining a "buy" rating, implying roughly a 42.94% upside from the current price.
• Analyst coverage is mixed—several firms have trimmed targets and ratings—and MarketBeat shows a consensus rating of "Hold" with a consensus price target of $53.06.
• Shares traded around $34.28 after the report; Ryan missed quarterly EPS and revenue estimates despite 13.2% YoY revenue growth, and an insider purchased 25,500 shares in late February.

Ryan Specialty (NYSE:RYAN - Get Free Report) had its price objective reduced by stock analysts at The Goldman Sachs Group from $57.00 to $49.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage currently has a "buy" rating on the stock. The Goldman Sachs Group's price objective would indicate a potential upside of 42.94% from the company's current price.

Other analysts have also recently issued research reports about the stock. JPMorgan Chase & Co. reduced their price objective on shares of Ryan Specialty from $63.00 to $56.00 and set an "underweight" rating on the stock in a research note on Wednesday, January 7th. Barclays reduced their price objective on shares of Ryan Specialty from $52.00 to $45.00 and set an "overweight" rating on the stock in a research note on Wednesday, March 11th. Keefe, Bruyette & Woods reduced their price objective on shares of Ryan Specialty from $55.00 to $49.00 and set an "outperform" rating on the stock in a research note on Tuesday. BMO Capital Markets cut shares of Ryan Specialty from an "outperform" rating to a "market perform" rating and reduced their price objective for the stock from $66.00 to $43.00 in a research note on Wednesday, February 25th. Finally, Cantor Fitzgerald reduced their price objective on shares of Ryan Specialty from $52.00 to $45.00 and set a "neutral" rating on the stock in a research note on Tuesday, February 17th. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, five have given a Hold rating and three have given a Sell rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $53.06.

Ryan Specialty Trading Up 1.9%

Shares of RYAN stock traded up $0.64 during mid-day trading on Wednesday, reaching $34.28. 187,329 shares of the stock traded hands, compared to its average volume of 2,060,771. The stock's fifty day simple moving average is $38.98 and its two-hundred day simple moving average is $48.73. The company has a market cap of $9.06 billion, a price-to-earnings ratio of 81.58, a price-to-earnings-growth ratio of 0.88 and a beta of 0.71. Ryan Specialty has a 1-year low of $31.50 and a 1-year high of $75.26. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 2.62.

Ryan Specialty (NYSE:RYAN - Get Free Report) last issued its quarterly earnings data on Thursday, February 12th. The company reported $0.45 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.50 by ($0.05). Ryan Specialty had a net margin of 7.02% and a return on equity of 46.41%. The business had revenue of $751.21 million during the quarter, compared to the consensus estimate of $777.43 million. During the same quarter last year, the business earned $0.45 EPS. The firm's quarterly revenue was up 13.2% compared to the same quarter last year. On average, research analysts anticipate that Ryan Specialty will post 2.29 EPS for the current fiscal year.

Insider Activity

In related news, Director Patrick G. Ryan, Jr. acquired 25,500 shares of the business's stock in a transaction dated Monday, February 23rd. The shares were bought at an average price of $39.96 per share, with a total value of $1,018,980.00. Following the transaction, the director directly owned 428,295 shares of the company's stock, valued at $17,114,668.20. This trade represents a 6.33% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 52.03% of the stock is owned by company insiders.

Hedge Funds Weigh In On Ryan Specialty

Institutional investors and hedge funds have recently made changes to their positions in the stock. Los Angeles Capital Management LLC bought a new position in shares of Ryan Specialty during the 4th quarter worth about $25,000. Advisory Services Network LLC bought a new position in shares of Ryan Specialty during the 3rd quarter worth about $28,000. SBI Securities Co. Ltd. boosted its position in shares of Ryan Specialty by 6,322.2% during the 4th quarter. SBI Securities Co. Ltd. now owns 578 shares of the company's stock worth $30,000 after purchasing an additional 569 shares in the last quarter. Fifth Third Bancorp boosted its position in shares of Ryan Specialty by 65.4% during the 3rd quarter. Fifth Third Bancorp now owns 612 shares of the company's stock worth $34,000 after purchasing an additional 242 shares in the last quarter. Finally, Whittier Trust Co. of Nevada Inc. boosted its position in shares of Ryan Specialty by 83.7% during the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 599 shares of the company's stock worth $35,000 after purchasing an additional 273 shares in the last quarter. Institutional investors own 84.82% of the company's stock.

Ryan Specialty Company Profile

Ryan Specialty Group, Inc NYSE: RYAN is a global specialty insurance and reinsurance platform that partners with a network of insurers and reinsurers to deliver tailored risk solutions. The company focuses on complex and large-scale risks across multiple industry sectors, leveraging its underwriting expertise to structure coverage programs that meet clients' unique needs.

Ryan Specialty's core offerings span a diverse range of specialty lines, including casualty, property, professional liability, marine and energy, program administration, and sports and entertainment.

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