The Goldman Sachs Group Upgrades Ryan Specialty (NYSE:RYAN) to Buy

Ryan Specialty (NYSE:RYAN) was upgraded by The Goldman Sachs Group from a “neutral” rating to a “buy” rating in a research report issued to clients and investors on Tuesday, MarketBeat reports. The firm currently has a $81.00 target price on the stock, up from their previous target price of $74.00. The Goldman Sachs Group’s target price would indicate a potential upside of 18.44% from the stock’s previous close.

Other research analysts have also issued research reports about the company. UBS Group boosted their price target on Ryan Specialty from $82.00 to $84.00 and gave the stock a “buy” rating in a research report on Wednesday, February 26th. Keefe, Bruyette & Woods lowered their price target on Ryan Specialty from $76.00 to $75.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 9th. Barclays lowered their price target on Ryan Specialty from $88.00 to $83.00 and set an “overweight” rating on the stock in a research report on Friday, April 11th. Wells Fargo & Company lowered their price target on Ryan Specialty from $69.00 to $66.00 and set an “equal weight” rating on the stock in a research report on Thursday, April 10th. Finally, Royal Bank of Canada lowered their price target on Ryan Specialty from $73.00 to $72.00 and set a “sector perform” rating on the stock in a research report on Friday, February 21st. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $76.42.

Ryan Specialty Stock Up 0.3%

Shares of Ryan Specialty stock opened at $68.39 on Tuesday. The business’s 50 day simple moving average is $70.09 and its 200 day simple moving average is $68.72. Ryan Specialty has a 52-week low of $52.34 and a 52-week high of $77.16. The firm has a market cap of $17.91 billion, a PE ratio of 99.12, a P/E/G ratio of 1.19 and a beta of 0.68. The company has a debt-to-equity ratio of 2.40, a quick ratio of 1.01 and a current ratio of 1.01.

Ryan Specialty (NYSE:RYAN) last announced its earnings results on Thursday, May 1st. The company reported $0.39 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.39. Ryan Specialty had a return on equity of 48.01% and a net margin of 9.14%. The business had revenue of $690.17 million for the quarter, compared to analyst estimates of $680.80 million. During the same quarter last year, the firm earned $0.35 EPS. Ryan Specialty’s revenue for the quarter was up 25.0% compared to the same quarter last year. On average, analysts predict that Ryan Specialty will post 2.29 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, EVP Brendan Martin Mulshine sold 30,000 shares of the business’s stock in a transaction 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 11.10% of the stock is owned by insiders.

Institutional Trading of Ryan Specialty

Several institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake in Ryan Specialty by 4.0% in the 1st quarter. Vanguard Group Inc. now owns 10,271,428 shares of the company’s stock valued at $758,750,000 after purchasing an additional 390,924 shares during the period. Bessemer Group Inc. boosted its stake in Ryan Specialty by 2.5% in the 4th quarter. Bessemer Group Inc. now owns 3,283,216 shares of the company’s stock valued at $210,651,000 after purchasing an additional 79,976 shares during the period. Principal Financial Group Inc. boosted its stake 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 purchasing an additional 1,218,147 shares during the period. Blair William & Co. IL boosted its stake in Ryan Specialty by 0.7% in the 1st quarter. Blair William & Co. IL now owns 2,784,916 shares of the company’s stock valued at $205,722,000 after purchasing an additional 18,953 shares during the period. Finally, T. Rowe Price Investment Management Inc. lifted its position in shares of Ryan Specialty by 0.5% during the 1st quarter. T. Rowe Price Investment Management Inc. now owns 2,378,573 shares of the company’s stock valued at $175,706,000 after acquiring an additional 12,573 shares during the period. 84.82% of the stock is currently owned by institutional investors.

Ryan Specialty Company Profile

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.