Ryan Specialty (NYSE:RYAN) Downgraded by Wells Fargo & Company to Equal Weight

Ryan Specialty (NYSE:RYAN) was downgraded by stock analysts at Wells Fargo & Company from an “overweight” rating to an “equal weight” rating in a research report issued to clients and investors on Thursday, MarketBeat reports. They currently have a $60.00 price target on the stock, up from their prior price target of $58.00. Wells Fargo & Company‘s target price would indicate a potential upside of 5.30% from the company’s previous close.

Other research analysts have also issued research reports about the company. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and set a $62.00 target price on shares of Ryan Specialty in a report on Tuesday, July 2nd. Wolfe Research cut shares of Ryan Specialty from an “outperform” rating to a “peer perform” rating in a research note on Monday, May 6th. JPMorgan Chase & Co. boosted their price target on shares of Ryan Specialty from $47.00 to $49.00 and gave the company an “underweight” rating in a research report on Monday, April 8th. UBS Group increased their price objective on Ryan Specialty from $63.00 to $67.00 and gave the stock a “buy” rating in a research report on Tuesday. Finally, Bank of America started coverage on Ryan Specialty in a research note on Wednesday, May 22nd. They set a “buy” rating and a $67.00 price objective for the company. One analyst has rated the stock with a sell rating, six have given a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $57.50.

Ryan Specialty Price Performance

RYAN opened at $56.98 on Thursday. The firm has a 50-day moving average price of $55.27 and a 200-day moving average price of $50.79. Ryan Specialty has a twelve month low of $41.49 and a twelve month high of $61.29. The company has a quick ratio of 1.15, a current ratio of 1.15 and a debt-to-equity ratio of 1.99. The company has a market capitalization of $14.84 billion, a price-to-earnings ratio of 107.51, a PEG ratio of 1.46 and a beta of 0.62.

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

Institutional Trading of Ryan Specialty

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. grew its holdings in Ryan Specialty by 2.2% in the fourth quarter. Vanguard Group Inc. now owns 9,397,569 shares of the company’s stock worth $404,283,000 after purchasing an additional 198,945 shares during the period. Champlain Investment Partners LLC increased its position in Ryan Specialty by 28.0% during the 1st quarter. Champlain Investment Partners LLC now owns 4,937,332 shares of the company’s stock valued at $274,022,000 after buying an additional 1,079,505 shares in the last quarter. Blair William & Co. IL raised its stake in Ryan Specialty by 2.6% during the first quarter. Blair William & Co. IL now owns 2,771,340 shares of the company’s stock valued at $153,809,000 after buying an additional 71,024 shares during the last quarter. Victory Capital Management Inc. boosted its holdings in Ryan Specialty by 8.8% in the fourth quarter. Victory Capital Management Inc. now owns 1,958,210 shares of the company’s stock worth $84,242,000 after acquiring an additional 158,322 shares in the last quarter. Finally, Bessemer Group Inc. grew its stake in shares of Ryan Specialty by 33.9% in the first quarter. Bessemer Group Inc. now owns 1,925,864 shares of the company’s stock worth $106,886,000 after acquiring an additional 488,067 shares during the last quarter. 84.82% of the stock is currently owned by hedge funds and other 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 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.