Ryan Specialty (NYSE:RYAN) Downgraded by The Goldman Sachs Group to “Neutral”

The Goldman Sachs Group lowered shares of Ryan Specialty (NYSE:RYAN) from a buy rating to a neutral rating in a research note issued to investors on Monday, MarketBeat.com reports. They currently have $53.00 price target on the stock, down from their previous price target of $57.00.

Other equities research analysts have also recently issued reports about the company. Barclays lifted their price objective on Ryan Specialty from $51.00 to $52.00 and gave the stock an overweight rating in a research note on Friday, August 4th. JMP Securities began coverage on Ryan Specialty in a research report on Tuesday, September 19th. They issued a market perform rating for the company. BMO Capital Markets downgraded shares of Ryan Specialty from an outperform rating to a market perform rating and lowered their price objective for the stock from $53.00 to $49.00 in a research report on Monday, October 30th. Wells Fargo & Company increased their target price on Ryan Specialty from $50.00 to $53.00 and gave the stock an overweight rating in a report on Friday, August 4th. Finally, Citigroup boosted their price target on Ryan Specialty from $48.00 to $49.00 and gave the company a neutral rating in a report on Tuesday, October 10th. Four equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, Ryan Specialty has an average rating of Hold and a consensus price target of $51.14.

Ryan Specialty Stock Performance

Shares of Ryan Specialty stock opened at $44.78 on Monday. The firm has a market cap of $11.65 billion, a P/E ratio of 95.27 and a beta of 0.46. Ryan Specialty has a fifty-two week low of $35.10 and a fifty-two week high of $50.64. The company has a debt-to-equity ratio of 2.07, a current ratio of 1.20 and a quick ratio of 1.20. The firm has a 50 day simple moving average of $46.77 and a 200 day simple moving average of $45.19.

Insider Activity at Ryan Specialty

In other news, Director David P. Bolger sold 10,580 shares of the company’s stock in a transaction that occurred on Monday, November 13th. The shares were sold at an average price of $44.58, for a total transaction of $471,656.40. Following the completion of the sale, the director now owns 85,204 shares of the company’s stock, valued at approximately $3,798,394.32. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 54.51% of the stock is currently owned by corporate insiders.

Institutional Trading of Ryan Specialty

Several hedge funds and other institutional investors have recently made changes to their positions in RYAN. PNC Financial Services Group Inc. lifted its stake in shares of Ryan Specialty by 192.0% in the 3rd quarter. PNC Financial Services Group Inc. now owns 549 shares of the company’s stock valued at $27,000 after purchasing an additional 361 shares during the period. Royal Bank of Canada boosted its holdings 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. Raleigh Capital Management Inc. purchased a new position in shares of Ryan Specialty in the 2nd quarter worth approximately $44,000. Huntington National Bank grew its holdings in shares of Ryan Specialty by 2,060.4% in the second quarter. Huntington National Bank now owns 1,037 shares of the company’s stock valued at $47,000 after acquiring an additional 989 shares in the last quarter. Finally, BOKF NA bought a new stake in Ryan Specialty during the first quarter worth $49,000. 34.09% of the stock is currently owned by institutional investors.

About Ryan Specialty

Ryan Specialty 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.