Morgan Stanley Lowers Ryan Specialty (NYSE:RYAN) Price Target to $78.00

Ryan Specialty (NYSE:RYAN) had its target price cut by Morgan Stanley from $80.00 to $78.00 in a research report issued on Monday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Morgan Stanley’s price objective would indicate a potential upside of 20.07% from the stock’s previous close.

A number of other analysts have also recently weighed in on the stock. Keefe, Bruyette & Woods reduced their target price on shares of Ryan Specialty from $76.00 to $75.00 and set an “outperform” rating for the company in a report on Wednesday, April 9th. Barclays decreased their price objective on shares of Ryan Specialty from $83.00 to $79.00 and set an “overweight” rating for the company in a research note on Monday, July 7th. Wells Fargo & Company decreased their price objective on shares of Ryan Specialty from $65.00 to $63.00 and set an “equal weight” rating for the company in a research note on Thursday, July 10th. TD Cowen initiated coverage on shares of Ryan Specialty in a research note on Thursday, April 10th. They issued a “buy” rating and a $89.00 price objective for the company. Finally, The Goldman Sachs Group raised shares of Ryan Specialty from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $74.00 to $81.00 in a research note on Tuesday, May 13th. One research analyst has rated the stock with a sell rating, three have given a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $74.83.

Ryan Specialty Stock Performance

Ryan Specialty stock opened at $64.96 on Monday. Ryan Specialty has a 12-month low of $56.59 and a 12-month high of $77.16. The company has a market capitalization of $17.05 billion, a price-to-earnings ratio of 191.06, a price-to-earnings-growth ratio of 1.75 and a beta of 0.66. The company has a debt-to-equity ratio of 3.45, a current ratio of 1.05 and a quick ratio of 1.05. The firm’s fifty day moving average price is $67.94 and its 200 day moving average price is $68.15.

Ryan Specialty (NYSE:RYAN) last posted its quarterly earnings results on Thursday, May 1st. The company reported $0.39 EPS for the quarter, meeting the consensus estimate of $0.39. Ryan Specialty had a net margin of 6.97% and a return on equity of 47.70%. The business had revenue of $690.17 million during the quarter, compared to analyst estimates of $680.80 million. During the same period in the previous year, the business posted $0.35 EPS. The company’s quarterly revenue was up 25.0% on a year-over-year basis. On average, research analysts forecast that Ryan Specialty will post 2.29 EPS for the current fiscal year.

Insider Buying and Selling at Ryan Specialty

In other Ryan Specialty news, Director David P. Bolger sold 5,000 shares of the firm’s stock in a transaction on Tuesday, June 3rd. The shares were sold at an average price of $70.80, for a total value of $354,000.00. Following the sale, the director directly owned 71,467 shares in the company, valued at $5,059,863.60. This trade represents a 6.54% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Mark Stephen Katz sold 14,377 shares of the firm’s stock in a transaction on Friday, June 13th. The stock was sold at an average price of $65.84, for a total transaction of $946,581.68. Following the completion of the sale, the executive vice president owned 1,117 shares in the company, 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. Company insiders own 52.21% of the company’s stock.

Institutional Trading of Ryan Specialty

Institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. boosted its position in Ryan Specialty by 4.0% in the first quarter. Vanguard Group Inc. now owns 10,271,428 shares of the company’s stock valued at $758,750,000 after buying an additional 390,924 shares in the last quarter. Bessemer Group Inc. boosted its position in Ryan Specialty by 2.5% in the fourth quarter. Bessemer Group Inc. now owns 3,283,216 shares of the company’s stock valued at $210,651,000 after buying an additional 79,976 shares in the last quarter. Principal Financial Group Inc. boosted its position in Ryan Specialty by 66.4% in the first 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 in the last quarter. Blair William & Co. IL raised its stake in shares of Ryan Specialty by 0.7% in the first quarter. Blair William & Co. IL now owns 2,784,916 shares of the company’s stock worth $205,722,000 after acquiring an additional 18,953 shares during the last quarter. Finally, T. Rowe Price Investment Management Inc. raised its stake in shares of Ryan Specialty by 0.5% in the first quarter. T. Rowe Price Investment Management Inc. now owns 2,378,573 shares of the company’s stock worth $175,706,000 after acquiring an additional 12,573 shares during the last quarter. 84.82% of the stock is currently owned by institutional investors and hedge funds.

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.