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Keefe, Bruyette & Woods Lowers Ryan Specialty (NYSE:RYAN) Price Target to $77.00

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Ryan Specialty (NYSE:RYAN - Get Free Report) had its target price reduced by research analysts at Keefe, Bruyette & Woods from $79.00 to $77.00 in a note issued to investors on Friday,Benzinga reports. The brokerage currently has an "outperform" rating on the stock. Keefe, Bruyette & Woods' target price would suggest a potential upside of 23.34% from the stock's previous close.

Other analysts also recently issued reports about the stock. The Goldman Sachs Group increased their price target on shares of Ryan Specialty from $64.00 to $72.00 and gave the company a "neutral" rating in a research report on Wednesday, October 9th. Barclays increased their price target on shares of Ryan Specialty from $76.00 to $88.00 and gave the company an "overweight" rating in a research report on Thursday, November 21st. Wells Fargo & Company increased their price target on shares of Ryan Specialty from $63.00 to $70.00 and gave the company an "equal weight" rating in a research report on Thursday, October 10th. Morgan Stanley assumed coverage on shares of Ryan Specialty in a research report on Thursday, December 5th. They issued an "overweight" rating and a $90.00 price target on the stock. Finally, Bank of America increased their price target on shares of Ryan Specialty from $75.00 to $84.00 and gave the company a "buy" rating in a research report on Thursday, October 10th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $75.00.

Read Our Latest Stock Analysis on Ryan Specialty

Ryan Specialty Price Performance

Shares of RYAN traded up $1.31 during trading hours on Friday, hitting $62.43. The stock had a trading volume of 1,990,836 shares, compared to its average volume of 1,125,023. The company's fifty day moving average is $68.30 and its two-hundred day moving average is $65.59. The company has a debt-to-equity ratio of 2.40, a current ratio of 1.01 and a quick ratio of 1.01. Ryan Specialty has a 52 week low of $42.04 and a 52 week high of $75.97. The stock has a market capitalization of $16.35 billion, a price-to-earnings ratio of 81.08, a P/E/G ratio of 1.52 and a beta of 0.72.

Ryan Specialty (NYSE:RYAN - Get Free Report) last issued its quarterly earnings data on Wednesday, October 30th. The company reported $0.41 EPS for the quarter, hitting analysts' consensus estimates of $0.41. The firm had revenue of $604.69 million for the quarter, compared to analyst estimates of $602.04 million. Ryan Specialty had a net margin of 10.31% and a return on equity of 47.90%. The company's revenue was up 20.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.32 EPS. On average, analysts anticipate that Ryan Specialty will post 1.82 EPS for the current year.

Insider Activity

In related news, EVP Mark Stephen Katz sold 14,790 shares of the firm's stock in a transaction on Friday, November 8th. The shares were sold at an average price of $71.39, for a total value of $1,055,858.10. Following the completion of the transaction, the executive vice president now directly owns 12,386 shares of the company's stock, valued at approximately $884,236.54. This trade represents a 54.42 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Nicholas Dominic Cortezi sold 35,000 shares of the firm's stock in a transaction on Friday, December 13th. The shares were sold at an average price of $67.39, for a total transaction of $2,358,650.00. Following the completion of the transaction, the director now directly owns 65,100 shares of the company's stock, valued at $4,387,089. This represents a 34.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 126,936 shares of company stock worth $8,536,282 over the last ninety days. Insiders own 11.10% of the company's stock.

Hedge Funds Weigh In On Ryan Specialty

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Hollencrest Capital Management acquired a new stake in shares of Ryan Specialty during the third quarter worth $25,000. Assetmark Inc. acquired a new stake in shares of Ryan Specialty during the third quarter worth $34,000. Quarry LP lifted its holdings in shares of Ryan Specialty by 109.3% during the third quarter. Quarry LP now owns 808 shares of the company's stock worth $54,000 after buying an additional 422 shares in the last quarter. GAMMA Investing LLC lifted its holdings in shares of Ryan Specialty by 106.4% during the third quarter. GAMMA Investing LLC now owns 1,249 shares of the company's stock worth $83,000 after buying an additional 644 shares in the last quarter. Finally, Signaturefd LLC lifted its holdings in shares of Ryan Specialty by 12.3% during the third quarter. Signaturefd LLC now owns 1,347 shares of the company's stock worth $89,000 after buying an additional 148 shares in the last quarter. 84.82% of the stock is owned by institutional investors.

About Ryan Specialty

(Get Free Report)

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.

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Analyst Recommendations for Ryan Specialty (NYSE:RYAN)

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