Royal Bank of Canada Cuts Ryan Specialty (NYSE:RYAN) Price Target to $72.00

Ryan Specialty (NYSE:RYAN) had its price target reduced by investment analysts at Royal Bank of Canada from $73.00 to $72.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm presently has a “sector perform” rating on the stock. Royal Bank of Canada’s price target indicates a potential upside of 9.64% from the stock’s previous close.

A number of other research analysts have also recently commented on RYAN. Keefe, Bruyette & Woods cut their price target on shares of Ryan Specialty from $77.00 to $76.00 and set an “outperform” rating for the company in a research note on Friday. 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. Barclays lifted their target price on shares of Ryan Specialty from $76.00 to $88.00 and gave the company an “overweight” rating in a research note on Thursday, November 21st. Finally, Morgan Stanley assumed coverage on shares of Ryan Specialty in a research note on Thursday, December 5th. They issued an “overweight” rating and a $90.00 target price for the company. One analyst has rated the stock with a sell rating, six have issued a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $74.55.

Ryan Specialty Price Performance

RYAN traded down $2.93 during midday trading on Friday, reaching $65.67. 1,366,523 shares of the company’s stock were exchanged, compared to its average volume of 957,369. The firm has a market capitalization of $17.20 billion, a price-to-earnings ratio of 85.29, a price-to-earnings-growth ratio of 1.21 and a beta of 0.72. 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 one year low of $45.72 and a one year high of $75.97. The business has a 50-day simple moving average of $65.61 and a two-hundred day simple moving average of $67.26.

Ryan Specialty (NYSE:RYAN) last announced its quarterly earnings results on Thursday, February 20th. The company reported $0.45 EPS for the quarter, missing analysts’ consensus estimates of $0.47 by ($0.02). The business had revenue of $663.53 million for the quarter, compared to the consensus estimate of $658.80 million. Ryan Specialty had a return on equity of 47.90% and a net margin of 10.31%. As a group, research analysts predict that Ryan Specialty will post 1.82 EPS for the current year.

Insider Buying and Selling

In related news, Director Nicholas Dominic Cortezi sold 35,000 shares of the business’s stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $66.71, for a total value of $2,334,850.00. Following the completion of the transaction, the director now owns 60,200 shares in the company, valued at $4,015,942. The trade was a 36.76 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders sold 316,451 shares of company stock worth $20,907,793 in the last quarter. Insiders own 11.10% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. grew its holdings in Ryan Specialty by 5.7% during the 4th quarter. Vanguard Group Inc. now owns 9,880,504 shares of the company’s stock worth $633,933,000 after acquiring an additional 529,631 shares during the period. Bessemer Group Inc. grew its holdings in Ryan Specialty by 2.5% during the 4th quarter. Bessemer Group Inc. now owns 3,283,216 shares of the company’s stock worth $210,651,000 after acquiring an additional 79,976 shares during the period. State Street Corp grew its holdings in Ryan Specialty by 1.5% during the 3rd quarter. State Street Corp now owns 3,273,093 shares of the company’s stock worth $217,301,000 after acquiring an additional 49,198 shares during the period. Janus Henderson Group PLC grew its holdings in Ryan Specialty by 0.4% during the 3rd quarter. Janus Henderson Group PLC now owns 3,148,916 shares of the company’s stock worth $209,058,000 after acquiring an additional 13,986 shares during the period. Finally, Blair William & Co. IL grew its holdings in Ryan Specialty by 0.6% during the 4th quarter. Blair William & Co. IL now owns 2,765,963 shares of the company’s stock worth $177,464,000 after acquiring an additional 16,540 shares during the period. Institutional investors own 84.82% of the company’s stock.

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.