Cantor Fitzgerald Has Lowered Expectations for Ryan Specialty (NYSE:RYAN) Stock Price

Ryan Specialty (NYSE:RYAN) had its price target dropped by Cantor Fitzgerald from $63.00 to $52.00 in a research report issued on Wednesday,Benzinga reports. The brokerage presently has a “neutral” rating on the stock. Cantor Fitzgerald’s target price points to a potential upside of 2.68% from the stock’s current price.

A number of other research firms have also recently weighed in on RYAN. Morgan Stanley set a $61.00 target price on shares of Ryan Specialty in a research note on Tuesday, December 16th. Jefferies Financial Group assumed coverage on Ryan Specialty in a research note on Monday, December 1st. They issued a “hold” rating and a $64.00 price objective on the stock. Piper Sandler started coverage on Ryan Specialty in a report on Thursday, November 20th. They set a “neutral” rating and a $60.00 price objective for the company. Wolfe Research upgraded Ryan Specialty to a “strong-buy” rating in a research note on Tuesday, September 16th. Finally, UBS Group dropped their price target on Ryan Specialty from $80.00 to $75.00 and set a “buy” rating on the stock in a research report on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $64.19.

Ryan Specialty Stock Performance

Ryan Specialty stock traded up $0.17 during mid-day trading on Wednesday, reaching $50.65. 92,782 shares of the company’s stock were exchanged, compared to its average volume of 1,173,367. The business’s fifty day simple moving average is $54.43 and its 200 day simple moving average is $56.79. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 2.72. Ryan Specialty has a one year low of $49.88 and a one year high of $77.16. The firm has a market capitalization of $13.36 billion, a PE ratio of 110.11, a P/E/G ratio of 1.22 and a beta of 0.63.

Ryan Specialty (NYSE:RYAN) last announced its earnings results on Thursday, October 30th. The company reported $0.47 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.47. The firm had revenue of $754.58 million during the quarter, compared to analyst estimates of $742.35 million. Ryan Specialty had a return on equity of 47.93% and a net margin of 7.61%.The business’s revenue was up 24.8% compared to the same quarter last year. During the same period last year, the firm posted $0.41 EPS. On average, sell-side analysts expect that Ryan Specialty will post 2.29 earnings per share for the current year.

Insiders Place Their Bets

In other Ryan Specialty news, CEO Timothy William Turner sold 129,570 shares of the firm’s stock in a transaction dated Friday, December 12th. The stock was sold at an average price of $53.61, for a total value of $6,946,247.70. Following the sale, the chief executive officer owned 12,553 shares of the company’s stock, valued at $672,966.33. This trade represents a 91.17% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 52.21% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Ryan Specialty

A number of hedge funds and other institutional investors have recently bought and sold shares of RYAN. Advisory Services Network LLC bought a new stake in shares of Ryan Specialty during the 3rd quarter worth $28,000. Golden State Wealth Management LLC grew its position in Ryan Specialty by 10,975.0% during the second quarter. Golden State Wealth Management LLC now owns 443 shares of the company’s stock valued at $30,000 after acquiring an additional 439 shares during the last quarter. MAI Capital Management lifted its holdings in shares of Ryan Specialty by 65.3% in the 2nd quarter. MAI Capital Management now owns 476 shares of the company’s stock worth $32,000 after acquiring an additional 188 shares during the last quarter. Fifth Third Bancorp grew its holdings in shares of Ryan Specialty by 65.4% during the 3rd quarter. Fifth Third Bancorp now owns 612 shares of the company’s stock valued at $34,000 after purchasing an additional 242 shares during the last quarter. Finally, Whittier Trust Co. of Nevada Inc. boosted its position in Ryan Specialty by 83.7% during the third quarter. Whittier Trust Co. of Nevada Inc. now owns 599 shares of the company’s stock valued at $35,000 after buying an additional 273 shares during the period. 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.