Bank of America Has Lowered Expectations for Ryan Specialty (NYSE:RYAN) Stock Price

Ryan Specialty (NYSE:RYAN) had its price target lowered by investment analysts at Bank of America from $70.00 to $68.00 in a research note issued on Tuesday,Benzinga reports. The firm currently has a “buy” rating on the stock. Bank of America‘s price target indicates a potential upside of 86.59% from the stock’s current price.

Other equities analysts also recently issued reports about the stock. JPMorgan Chase & Co. dropped their price objective on shares of Ryan Specialty from $49.00 to $43.00 and set an “underweight” rating on the stock in a research note on Thursday, April 9th. Barclays dropped their price objective on shares of Ryan Specialty from $45.00 to $41.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 8th. The Goldman Sachs Group dropped their price objective on shares of Ryan Specialty from $57.00 to $49.00 and set a “buy” rating on the stock in a research note on Wednesday, April 8th. UBS Group dropped their price objective on shares of Ryan Specialty from $65.00 to $59.00 and set a “buy” rating on the stock in a research note on Wednesday, April 8th. Finally, Citigroup dropped their price objective on shares of Ryan Specialty from $60.00 to $55.00 and set a “buy” rating on the stock in a research note on Monday, March 23rd. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, five have assigned a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $51.35.

Ryan Specialty Price Performance

Shares of RYAN stock opened at $36.44 on Tuesday. The company has a debt-to-equity ratio of 2.62, a current ratio of 0.98 and a quick ratio of 0.98. The company has a market capitalization of $9.63 billion, a P/E ratio of 86.77, a P/E/G ratio of 0.96 and a beta of 0.71. The company’s 50-day simple moving average is $37.53 and its two-hundred day simple moving average is $47.96. Ryan Specialty has a one year low of $31.50 and a one year high of $73.46.

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

Insider Buying and Selling

In other news, Director Patrick G. Ryan, Jr. bought 25,500 shares of the firm’s stock in a transaction that occurred on Monday, February 23rd. The stock was bought at an average price of $39.96 per share, with a total value of $1,018,980.00. Following the completion of 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 position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 52.03% of the stock is owned by insiders.

Institutional Investors Weigh In On Ryan Specialty

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. T. Rowe Price Investment Management Inc. lifted 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 acquiring an additional 3,353,926 shares during the last quarter. Capital World Investors raised its holdings in shares of Ryan Specialty by 0.3% in the fourth quarter. Capital World Investors now owns 6,640,638 shares of the company’s stock worth $342,856,000 after buying an additional 17,082 shares during the last quarter. Vulcan Value Partners LLC raised its holdings in shares of Ryan Specialty by 631.7% in the fourth quarter. Vulcan Value Partners LLC now owns 4,621,079 shares of the company’s stock worth $238,536,000 after buying an additional 3,989,502 shares during the last quarter. Principal Financial Group Inc. raised its holdings in shares of Ryan Specialty by 21.1% in the third quarter. Principal Financial Group Inc. now owns 4,392,717 shares of the company’s stock worth $247,576,000 after buying an additional 765,428 shares during the last quarter. Finally, Montrusco Bolton Investments Inc. raised its holdings in shares of Ryan Specialty by 9.3% in the fourth quarter. Montrusco Bolton Investments Inc. now owns 4,343,116 shares of the company’s stock worth $218,010,000 after buying an additional 368,247 shares during the last quarter. Hedge funds and other institutional investors own 84.82% of the company’s stock.

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.