Ryan Specialty (NYSE:RYAN) Given New $44.00 Price Target at Mizuho

Ryan Specialty (NYSE:RYAN) had its price target cut by equities researchers at Mizuho from $53.00 to $44.00 in a note issued to investors on Friday,Benzinga reports. The brokerage presently has a “neutral” rating on the stock. Mizuho’s price target indicates a potential upside of 12.19% from the company’s previous close.

A number of other brokerages have also commented on RYAN. JPMorgan Chase & Co. dropped their price target on Ryan Specialty from $63.00 to $56.00 and set an “underweight” rating for the company in a research note on Wednesday, January 7th. TD Cowen reaffirmed a “buy” rating on shares of Ryan Specialty in a research report on Wednesday, November 26th. The Goldman Sachs Group set a $61.00 price target on shares of Ryan Specialty in a research report on Wednesday, January 7th. Piper Sandler decreased their price target on shares of Ryan Specialty from $58.00 to $43.00 and set a “neutral” rating for the company in a research note on Friday, February 13th. Finally, UBS Group lowered their price objective on shares of Ryan Specialty from $71.00 to $65.00 and set a “buy” rating for the company in a report on Tuesday, February 17th. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, five have issued a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat.com, Ryan Specialty has an average rating of “Hold” and a consensus price target of $56.87.

Ryan Specialty Stock Up 3.3%

NYSE RYAN opened at $39.22 on Friday. Ryan Specialty has a 1 year low of $37.29 and a 1 year high of $77.16. The stock has a market capitalization of $10.36 billion, a PE ratio of 93.38, a PEG ratio of 0.99 and a beta of 0.62. The company has a debt-to-equity ratio of 2.62, a current ratio of 0.98 and a quick ratio of 0.98. The business’s 50-day moving average is $47.66 and its 200 day moving average is $52.81.

Ryan Specialty (NYSE:RYAN) last released its quarterly earnings results on Thursday, February 12th. The company reported $0.45 EPS for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.05). The business had revenue of $751.21 million for the quarter, compared to the consensus estimate of $777.43 million. Ryan Specialty had a net margin of 7.02% and a return on equity of 46.41%. The company’s revenue for the quarter was up 13.2% on a year-over-year basis. During the same period in the previous year, the company earned $0.45 EPS. Sell-side analysts forecast that Ryan Specialty will post 2.29 earnings per share for the current year.

Insider Activity at Ryan Specialty

In related news, Director Patrick G. Ryan, Jr. acquired 25,500 shares of the stock in a transaction on Monday, February 23rd. The stock was acquired at an average price of $39.96 per share, for a total transaction of $1,018,980.00. Following the completion of the purchase, the director owned 428,295 shares of the company’s stock, valued at $17,114,668.20. This represents a 6.33% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Timothy William Turner sold 129,570 shares of the business’s stock in a transaction on Friday, December 12th. The stock was sold at an average price of $53.61, for a total value of $6,946,247.70. Following the completion of the sale, the chief executive officer directly owned 12,553 shares in the company, valued at $672,966.33. This trade represents a 91.17% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 52.21% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Ryan Specialty

Several large investors have recently modified their holdings of the stock. Sumitomo Mitsui Trust Group Inc. lifted its position in Ryan Specialty by 2.5% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,387,108 shares of the company’s stock valued at $78,177,000 after purchasing an additional 33,588 shares during the period. Cooper Investors PTY Ltd. raised its stake in Ryan Specialty by 33.9% during the 3rd quarter. Cooper Investors PTY Ltd. now owns 505,374 shares of the company’s stock valued at $28,483,000 after buying an additional 127,892 shares during the last quarter. Marshall Wace LLP raised its stake in Ryan Specialty by 142.1% during the 2nd quarter. Marshall Wace LLP now owns 380,116 shares of the company’s stock valued at $25,844,000 after buying an additional 223,124 shares during the last quarter. Waters Parkerson & CO. LLC boosted its stake in shares of Ryan Specialty by 4.3% in the 3rd quarter. Waters Parkerson & CO. LLC now owns 508,120 shares of the company’s stock worth $28,638,000 after buying an additional 20,920 shares during the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd grew its holdings in shares of Ryan Specialty by 56.0% in the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 68,671 shares of the company’s stock worth $3,870,000 after acquiring an additional 24,656 shares during the period. Hedge funds and other institutional investors own 84.82% of the company’s stock.

About Ryan Specialty

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.