Ryan Specialty (NYSE:RYAN) Sets New 1-Year Low After Analyst Downgrade

Ryan Specialty Holdings, Inc. (NYSE:RYANGet Rating) shares reached a new 52-week low during mid-day trading on Monday after Royal Bank of Canada lowered their price target on the stock from $47.00 to $46.00. Royal Bank of Canada currently has a sector perform rating on the stock. Ryan Specialty traded as low as $32.53 and last traded at $32.53, with a volume of 33501 shares changing hands. The stock had previously closed at $34.12.

Other equities research analysts have also recently issued reports about the stock. JPMorgan Chase & Co. reduced their target price on shares of Ryan Specialty from $40.00 to $39.00 in a research report on Friday. Wells Fargo & Company reduced their target price on shares of Ryan Specialty from $44.00 to $41.00 and set an “equal weight” rating for the company in a research report on Friday. Finally, Barclays increased their target price on shares of Ryan Specialty to $51.00 in a research report on Monday, August 15th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Ryan Specialty has an average rating of “Hold” and a consensus price target of $44.80.

Institutional Investors Weigh In On Ryan Specialty

Hedge funds and other institutional investors have recently bought and sold shares of the company. Steward Partners Investment Advisory LLC acquired a new stake in Ryan Specialty during the first quarter worth about $26,000. Venture Visionary Partners LLC acquired a new stake in Ryan Specialty during the second quarter worth about $27,000. Royal Bank of Canada increased its position in Ryan Specialty by 524.8% during the first quarter. Royal Bank of Canada now owns 781 shares of the company’s stock worth $31,000 after purchasing an additional 656 shares during the last quarter. Cullen Frost Bankers Inc. acquired a new stake in Ryan Specialty during the first quarter worth about $31,000. Finally, First Horizon Advisors Inc. acquired a new stake in Ryan Specialty during the second quarter worth about $42,000. 26.60% of the stock is currently owned by institutional investors and hedge funds.

Ryan Specialty Trading Down 5.3 %

The stock has a market capitalization of $8.37 billion, a price-to-earnings ratio of 70.17 and a beta of 0.71. The company’s 50-day moving average is $41.94 and its 200-day moving average is $40.62. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 2.79.

Ryan Specialty Company Profile

(Get Rating)

Ryan Specialty Group Holdings, Inc operates as a service provider of specialty products and solutions for insurance brokers, agents, and carriers. It offers distribution, underwriting, product development, administration, and risk management services by acting as a wholesale broker and a managing underwriter.

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