TD Cowen Begins Coverage on Ryan Specialty (NYSE:RYAN)

Equities research analysts at TD Cowen began coverage on shares of Ryan Specialty (NYSE:RYAN - Get Free Report) in a research report issued to clients and investors on Thursday, MarketBeat.com reports. The brokerage set a "buy" rating and a $89.00 price target on the stock. TD Cowen's price target points to a potential upside of 20.58% from the company's previous close.

RYAN has been the subject of several other research reports. Royal Bank of Canada cut their target price on shares of Ryan Specialty from $73.00 to $72.00 and set a "sector perform" rating for the company in a research note on Friday, February 21st. Keefe, Bruyette & Woods dropped their price objective on Ryan Specialty from $76.00 to $75.00 and set an "outperform" rating on the stock in a report on Wednesday, April 9th. Wells Fargo & Company increased their target price on shares of Ryan Specialty from $64.00 to $69.00 and gave the stock an "equal weight" rating in a report on Friday, February 21st. Finally, UBS Group boosted their price objective on Ryan Specialty from $82.00 to $84.00 and gave the stock a "buy" rating in a research report on Wednesday, February 26th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $75.67.

Ryan Specialty Stock Performance

RYAN traded down $0.39 during trading on Thursday, hitting $73.81. The stock had a trading volume of 225,423 shares, compared to its average volume of 1,005,131. The company has a debt-to-equity ratio of 2.40, a quick ratio of 1.01 and a current ratio of 1.01. The firm has a market capitalization of $19.33 billion, a P/E ratio of 106.97, a PEG ratio of 1.19 and a beta of 0.66. Ryan Specialty has a twelve month low of $48.48 and a twelve month high of $77.16. The company's 50-day moving average price is $70.16 and its 200 day moving average price is $68.94.

Ryan Specialty (NYSE:RYAN - Get Free Report) last announced its quarterly earnings data on Thursday, February 20th. The company reported $0.45 EPS for the quarter, missing the consensus estimate of $0.47 by ($0.02). The company had revenue of $663.53 million during the quarter, compared to analyst estimates of $658.80 million. Ryan Specialty had a net margin of 9.14% and a return on equity of 48.01%. On average, equities research analysts forecast that Ryan Specialty will post 2.29 EPS for the current fiscal year.

Insider Buying and Selling at Ryan Specialty

In related news, EVP Brendan Martin Mulshine sold 30,000 shares of the firm's stock in a transaction that occurred on Friday, March 14th. The shares were sold at an average price of $69.30, for a total transaction of $2,079,000.00. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Nicholas Dominic Cortezi sold 35,000 shares of the stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $65.99, for a total transaction of $2,309,650.00. Following the transaction, the director now owns 35,609 shares in the company, valued at approximately $2,349,837.91. This trade represents a 49.57 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 211,894 shares of company stock valued at $14,089,370 in the last three months. 11.10% of the stock is currently owned by company insiders.

Institutional Trading of Ryan Specialty

Institutional investors and hedge funds have recently modified their holdings of the company. JPMorgan Chase & Co. grew its stake in shares of Ryan Specialty by 107.5% in the third quarter. JPMorgan Chase & Co. now owns 459,464 shares of the company's stock worth $30,504,000 after acquiring an additional 238,064 shares during the last quarter. Bar Harbor Wealth Management raised its position in shares of Ryan Specialty by 5.9% during the fourth quarter. Bar Harbor Wealth Management now owns 168,871 shares of the company's stock valued at $10,835,000 after buying an additional 9,482 shares during the last quarter. Barclays PLC grew its position in Ryan Specialty by 1.1% during the third quarter. Barclays PLC now owns 1,641,743 shares of the company's stock worth $108,994,000 after buying an additional 17,267 shares in the last quarter. Teachers Retirement System of The State of Kentucky grew its position in Ryan Specialty by 51.5% during the third quarter. Teachers Retirement System of The State of Kentucky now owns 30,760 shares of the company's stock worth $2,042,000 after buying an additional 10,460 shares in the last quarter. Finally, HighTower Advisors LLC raised its holdings in Ryan Specialty by 101.6% in the 3rd quarter. HighTower Advisors LLC now owns 39,969 shares of the company's stock valued at $2,661,000 after acquiring an additional 20,139 shares in the last quarter. 84.82% of the stock is currently owned by institutional investors and hedge funds.

Ryan Specialty Company Profile

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.