The Goldman Sachs Group Cuts Ryan Specialty (NYSE:RYAN) Price Target to $49.00

Ryan Specialty (NYSE:RYAN) had its price objective decreased by equities research analysts at The Goldman Sachs Group from $57.00 to $49.00 in a research note issued on Wednesday,Benzinga reports. The firm currently has a “buy” rating on the stock. The Goldman Sachs Group’s target price would suggest a potential upside of 42.94% from the stock’s previous close.

A number of other equities research analysts have also weighed in on RYAN. Morgan Stanley lowered their target price on shares of Ryan Specialty from $55.00 to $50.00 and set an “overweight” rating on the stock in a report on Monday. Zacks Research lowered shares of Ryan Specialty from a “hold” rating to a “strong sell” rating in a report on Tuesday, February 24th. Wells Fargo & Company lowered their target price on shares of Ryan Specialty from $63.00 to $56.00 and set an “overweight” rating on the stock in a report on Friday, February 13th. BMO Capital Markets lowered shares of Ryan Specialty from an “outperform” rating to a “market perform” rating and lowered their target price for the stock from $66.00 to $43.00 in a report on Wednesday, February 25th. Finally, Citigroup lowered their target price on shares of Ryan Specialty from $60.00 to $55.00 and set a “buy” rating on the stock in a report on Monday, March 23rd. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, five have given a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $53.06.

Ryan Specialty Stock Up 1.9%

Shares of RYAN traded up $0.64 on Wednesday, reaching $34.28. The company’s stock had a trading volume of 187,329 shares, compared to its average volume of 2,060,771. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 2.62. Ryan Specialty has a twelve month low of $31.50 and a twelve month high of $75.26. The stock has a market capitalization of $9.06 billion, a PE ratio of 81.58, a PEG ratio of 0.88 and a beta of 0.71. The firm has a fifty day moving average of $38.98 and a 200-day moving average of $48.73.

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

Insider Buying and Selling at Ryan Specialty

In related news, Director Patrick G. Ryan, Jr. bought 25,500 shares of Ryan Specialty stock in a transaction dated Monday, February 23rd. The stock was purchased at an average cost of $39.96 per share, with a total value of $1,018,980.00. Following the transaction, the director directly owned 428,295 shares of the company’s stock, valued at approximately $17,114,668.20. The trade was a 6.33% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 52.03% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the business. T. Rowe Price Investment Management Inc. boosted its holdings in Ryan Specialty by 79.9% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 7,552,002 shares of the company’s stock worth $389,910,000 after buying an additional 3,353,926 shares during the period. Capital World Investors boosted its holdings in Ryan Specialty by 0.3% in the 4th quarter. Capital World Investors now owns 6,640,638 shares of the company’s stock valued at $342,856,000 after purchasing an additional 17,082 shares during the period. Vulcan Value Partners LLC boosted its holdings in Ryan Specialty by 631.7% in the 4th 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 during the period. Principal Financial Group Inc. boosted its holdings in Ryan Specialty by 21.1% in the 3rd quarter. Principal Financial Group Inc. now owns 4,392,717 shares of the company’s stock valued at $247,576,000 after purchasing an additional 765,428 shares during the period. Finally, Montrusco Bolton Investments Inc. boosted its holdings in Ryan Specialty by 9.3% in the 4th quarter. Montrusco Bolton Investments Inc. now owns 4,343,116 shares of the company’s stock valued at $218,010,000 after purchasing an additional 368,247 shares during the period. 84.82% of the stock is owned by institutional investors.

Ryan Specialty Company Profile

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.