Keefe, Bruyette & Woods Cuts Ryan Specialty (NYSE:RYAN) Price Target to $49.00

Ryan Specialty (NYSE:RYAN) had its target price cut by investment analysts at Keefe, Bruyette & Woods from $55.00 to $49.00 in a report released on Tuesday,Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Keefe, Bruyette & Woods’ target price would suggest a potential upside of 44.24% from the stock’s current price.

RYAN has been the topic of several other research reports. Citigroup cut their price objective on Ryan Specialty from $60.00 to $55.00 and set a “buy” rating on the stock in a research report on Monday, March 23rd. JPMorgan Chase & Co. cut their price objective on Ryan Specialty from $63.00 to $56.00 and set an “underweight” rating on the stock in a research report on Wednesday, January 7th. Wells Fargo & Company cut their price objective on Ryan Specialty from $63.00 to $56.00 and set an “overweight” rating on the stock in a research report on Friday, February 13th. Zacks Research downgraded Ryan Specialty from a “hold” rating to a “strong sell” rating in a research report on Tuesday, February 24th. Finally, Mizuho dropped their price target on Ryan Specialty from $53.00 to $44.00 and set a “neutral” rating on the stock in a research report on Friday, February 27th. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, five have assigned a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $53.81.

Ryan Specialty Trading Down 0.6%

Ryan Specialty stock traded down $0.19 during mid-day trading on Tuesday, hitting $33.97. The company’s stock had a trading volume of 879,911 shares, compared to its average volume of 2,077,518. The company has a 50 day moving average of $39.24 and a 200-day moving average of $48.87. The stock has a market cap of $8.97 billion, a PE ratio of 81.02, a P/E/G ratio of 0.88 and a beta of 0.71. The company has a debt-to-equity ratio of 2.62, a quick ratio of 0.98 and a current ratio of 0.98. Ryan Specialty has a one year low of $31.50 and a one year high of $75.26.

Ryan Specialty (NYSE:RYAN) last announced its quarterly earnings data on Thursday, February 12th. The company reported $0.45 EPS for the quarter, missing the consensus estimate of $0.50 by ($0.05). The business had revenue of $751.21 million during 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 business’s revenue was up 13.2% compared to the same quarter last year. During the same period last year, the company earned $0.45 EPS. On average, research analysts anticipate that Ryan Specialty will post 2.29 EPS for the current year.

Insider Activity

In other news, Director Patrick G. Ryan, Jr. purchased 25,500 shares of the company’s stock in a transaction dated Monday, February 23rd. The shares were acquired at an average price of $39.96 per share, with a total value of $1,018,980.00. Following the transaction, 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 document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 52.21% of the company’s stock.

Institutional Investors Weigh In On Ryan Specialty

Hedge funds have recently made changes to their positions in the stock. Vulcan Value Partners LLC boosted its position in Ryan Specialty by 631.7% during the fourth quarter. Vulcan Value Partners LLC now owns 4,621,079 shares of the company’s stock valued at $238,536,000 after purchasing an additional 3,989,502 shares in the last quarter. T. Rowe Price Investment Management Inc. boosted its position in Ryan Specialty by 79.9% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 7,552,002 shares of the company’s stock valued at $389,910,000 after purchasing an additional 3,353,926 shares in the last quarter. Independent Franchise Partners LLP bought a new stake in Ryan Specialty during the third quarter valued at about $95,798,000. Adage Capital Partners GP L.L.C. boosted its position in Ryan Specialty by 1,510.0% during the fourth quarter. Adage Capital Partners GP L.L.C. now owns 1,610,000 shares of the company’s stock valued at $83,124,000 after purchasing an additional 1,510,000 shares in the last quarter. Finally, Champlain Investment Partners LLC boosted its position in Ryan Specialty by 76.9% during the third quarter. Champlain Investment Partners LLC now owns 3,066,011 shares of the company’s stock valued at $172,800,000 after purchasing an additional 1,332,773 shares in the last quarter. 84.82% of the stock is currently owned by hedge funds and other institutional investors.

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.