Ryan Specialty (NYSE:RYAN) Upgraded at The Goldman Sachs Group

Ryan Specialty (NYSE:RYAN) was upgraded by investment analysts at The Goldman Sachs Group from a “neutral” rating to a “buy” rating in a report issued on Tuesday,Finviz reports. The brokerage currently has a $81.00 price target on the stock. The Goldman Sachs Group’s target price indicates a potential upside of 17.19% from the stock’s previous close.

A number of other research analysts have also weighed in on RYAN. Royal Bank of Canada decreased their price objective on Ryan Specialty from $73.00 to $72.00 and set a “sector perform” rating on the stock in a report on Friday, February 21st. TD Cowen began coverage on Ryan Specialty in a report on Thursday, April 10th. They set a “buy” rating and a $89.00 target price for the company. Barclays reduced their price target on Ryan Specialty from $88.00 to $83.00 and set an “overweight” rating on the stock in a research report on Friday, April 11th. Keefe, Bruyette & Woods dropped their target price on Ryan Specialty from $76.00 to $75.00 and set an “outperform” rating on the stock in a report on Wednesday, April 9th. Finally, Wells Fargo & Company reduced their price target on shares of Ryan Specialty from $69.00 to $66.00 and set an “equal weight” rating for the company in a research report on Thursday, April 10th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Ryan Specialty has an average rating of “Moderate Buy” and a consensus target price of $76.42.

Ryan Specialty Price Performance

RYAN opened at $69.12 on Tuesday. Ryan Specialty has a 12-month low of $52.34 and a 12-month high of $77.16. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 2.40. The company has a market capitalization of $18.10 billion, a price-to-earnings ratio of 100.17, a PEG ratio of 1.19 and a beta of 0.68. The business’s fifty day simple moving average is $70.13 and its 200-day simple moving average is $68.73.

Ryan Specialty (NYSE:RYAN) last released its earnings results on Thursday, May 1st. The company reported $0.39 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.39. Ryan Specialty had a return on equity of 48.01% and a net margin of 9.14%. The firm had revenue of $690.17 million for the quarter, compared to the consensus estimate of $680.80 million. During the same period in the prior year, the firm earned $0.35 EPS. The firm’s revenue was up 25.0% on a year-over-year basis. On average, equities research analysts anticipate that Ryan Specialty will post 2.29 earnings per share for the current fiscal year.

Insider Activity at Ryan Specialty

In other Ryan Specialty news, EVP Brendan Martin Mulshine sold 30,000 shares of the company’s stock in a transaction that occurred on Friday, March 14th. The stock was sold at an average price of $69.30, for a total value of $2,079,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 11.10% of the company’s stock.

Institutional Investors Weigh In On Ryan Specialty

Several institutional investors and hedge funds have recently made changes to their positions in the company. Whittier Trust Co. of Nevada Inc. lifted its stake in Ryan Specialty by 281.6% in the first quarter. Whittier Trust Co. of Nevada Inc. now owns 332 shares of the company’s stock valued at $25,000 after buying an additional 245 shares during the period. Rakuten Securities Inc. bought a new stake in Ryan Specialty in the fourth quarter valued at approximately $27,000. Golden State Wealth Management LLC acquired a new position in shares of Ryan Specialty in the first quarter valued at $35,000. Kapitalo Investimentos Ltda bought a new position in Ryan Specialty in the 4th quarter valued at about $36,000. Finally, Fifth Third Bancorp grew its holdings in Ryan Specialty by 202.5% in the 1st quarter. Fifth Third Bancorp now owns 484 shares of the company’s stock valued at $36,000 after buying an additional 324 shares in the last quarter. Institutional investors and hedge funds own 84.82% of the company’s stock.

About Ryan Specialty

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