Keefe, Bruyette & Woods Reaffirms “Outperform” Rating for Ryan Specialty (NYSE:RYAN)

Ryan Specialty (NYSE:RYAN)‘s stock had its “outperform” rating restated by stock analysts at Keefe, Bruyette & Woods in a research note issued on Tuesday, Benzinga reports. They presently have a $62.00 price target on the stock. Keefe, Bruyette & Woods’ target price points to a potential upside of 8.62% from the stock’s previous close.

A number of other equities research analysts also recently issued reports on the stock. Bank of America began coverage on shares of Ryan Specialty in a research note on Wednesday, May 22nd. They set a “buy” rating and a $67.00 price objective on the stock. JPMorgan Chase & Co. increased their target price on shares of Ryan Specialty from $47.00 to $49.00 and gave the stock an “underweight” rating in a report on Monday, April 8th. JMP Securities reissued a “market perform” rating on shares of Ryan Specialty in a report on Monday, April 15th. Wolfe Research cut shares of Ryan Specialty from an “outperform” rating to a “peer perform” rating in a report on Monday, May 6th. Finally, Wells Fargo & Company increased their target price on shares of Ryan Specialty from $57.00 to $58.00 and gave the stock an “overweight” rating in a report on Thursday, April 11th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, Ryan Specialty presently has a consensus rating of “Hold” and an average price target of $55.67.

Ryan Specialty Price Performance

Ryan Specialty stock traded up $0.32 during trading hours on Tuesday, reaching $57.08. 129,396 shares of the stock were exchanged, compared to its average volume of 905,094. The company has a market cap of $14.87 billion, a P/E ratio of 108.00, a price-to-earnings-growth ratio of 1.50 and a beta of 0.62. The company has a current ratio of 1.15, a quick ratio of 1.15 and a debt-to-equity ratio of 1.99. Ryan Specialty has a twelve month low of $41.49 and a twelve month high of $61.29. The stock has a 50 day moving average of $54.12 and a two-hundred day moving average of $49.97.

Ryan Specialty (NYSE:RYAN) last announced its quarterly earnings data on Thursday, May 2nd. The company reported $0.35 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.35. The firm had revenue of $552.00 million for the quarter, compared to the consensus estimate of $549.06 million. Ryan Specialty had a net margin of 9.15% and a return on equity of 45.87%. The business’s revenue for the quarter was up 20.6% on a year-over-year basis. During the same period in the prior year, the company posted $0.26 earnings per share. Equities analysts expect that Ryan Specialty will post 1.77 EPS for the current fiscal year.

Institutional Trading of Ryan Specialty

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. PNC Financial Services Group Inc. increased its position in Ryan Specialty by 192.0% during 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. Alliance Wealth Advisors LLC UT increased its position in Ryan Specialty by 3.1% during the 4th quarter. Alliance Wealth Advisors LLC UT now owns 19,187 shares of the company’s stock valued at $825,000 after purchasing an additional 581 shares during the period. Precision Wealth Strategies LLC increased its position in Ryan Specialty by 4.1% during the 1st quarter. Precision Wealth Strategies LLC now owns 15,774 shares of the company’s stock valued at $875,000 after purchasing an additional 617 shares during the period. Intelligent Financial Strategies acquired a new stake in Ryan Specialty during the 1st quarter valued at approximately $44,000. Finally, Benjamin F. Edwards & Company Inc. acquired a new stake in Ryan Specialty during the 1st quarter valued at approximately $45,000. 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.