Ryan Specialty (NYSE:RYAN) Coverage Initiated at TD Cowen

Equities research analysts at TD Cowen assumed coverage on shares of Ryan Specialty (NYSE:RYAN) in a research report issued on Thursday, MarketBeat Ratings reports. The firm set a “buy” rating and a $89.00 price target on the stock. TD Cowen’s price target suggests a potential upside of 22.32% from the stock’s previous close.

Several other research firms have also recently commented on RYAN. UBS Group raised their price target on shares of Ryan Specialty from $82.00 to $84.00 and gave the stock a “buy” rating in a report on Wednesday, February 26th. Wells Fargo & Company lifted their target price on shares of Ryan Specialty from $64.00 to $69.00 and gave the company an “equal weight” rating in a research note on Friday, February 21st. Royal Bank of Canada dropped their price target on shares of Ryan Specialty from $73.00 to $72.00 and set a “sector perform” rating on the stock in a research note on Friday, February 21st. Finally, Keefe, Bruyette & Woods cut their price objective on Ryan Specialty from $76.00 to $75.00 and set an “outperform” rating for the company in a report on Wednesday. One research analyst has rated the stock with a sell rating, six have given a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, Ryan Specialty has an average rating of “Hold” and an average price target of $75.67.

Ryan Specialty Price Performance

Shares of NYSE:RYAN opened at $72.76 on Thursday. The company has a market cap of $19.06 billion, a P/E ratio of 105.45, a price-to-earnings-growth ratio of 1.19 and a beta of 0.66. The company’s fifty day moving average is $70.05 and its two-hundred day moving average is $68.86. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 2.40. Ryan Specialty has a 12-month low of $48.48 and a 12-month high of $77.16.

Ryan Specialty (NYSE:RYAN) last announced its quarterly earnings data on Thursday, February 20th. The company reported $0.45 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.47 by ($0.02). Ryan Specialty had a return on equity of 48.01% and a net margin of 9.14%. The business had revenue of $663.53 million during the quarter, compared to analysts’ expectations of $658.80 million. Equities analysts expect that Ryan Specialty will post 2.29 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director Nicholas Dominic Cortezi sold 35,000 shares of the firm’s stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $65.99, for a total value of $2,309,650.00. Following the sale, the director now directly owns 35,609 shares of the company’s stock, valued at approximately $2,349,837.91. This trade represents a 49.57 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Brendan Martin Mulshine sold 30,000 shares of the business’s stock in a transaction dated Friday, March 14th. The stock was sold at an average price of $69.30, for a total value of $2,079,000.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 241,360 shares of company stock worth $16,006,428. 11.10% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. FMR LLC increased its position in Ryan Specialty by 72.3% during the third quarter. FMR LLC now owns 12,875 shares of the company’s stock worth $855,000 after acquiring an additional 5,402 shares during the period. Captrust Financial Advisors increased its holdings in shares of Ryan Specialty by 9.3% during the 3rd quarter. Captrust Financial Advisors now owns 9,405 shares of the company’s stock worth $624,000 after purchasing an additional 798 shares during the period. HighTower Advisors LLC raised its position in shares of Ryan Specialty by 101.6% during the third quarter. HighTower Advisors LLC now owns 39,969 shares of the company’s stock valued at $2,661,000 after buying an additional 20,139 shares during the last quarter. Quantinno Capital Management LP bought a new stake in shares of Ryan Specialty in the third quarter valued at about $888,000. Finally, State Street Corp grew its position in Ryan Specialty by 1.5% during the third quarter. State Street Corp now owns 3,273,093 shares of the company’s stock worth $217,301,000 after buying an additional 49,198 shares in the last quarter. 84.82% of the stock is currently 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.