Ryan Specialty (NYSE:RYAN) Coverage Initiated by Analysts at Morgan Stanley

Stock analysts at Morgan Stanley started coverage on shares of Ryan Specialty (NYSE:RYAN) in a research note issued to investors on Thursday, MarketBeat reports. The firm set an “overweight” rating and a $90.00 price target on the stock. Morgan Stanley’s price objective would suggest a potential upside of 24.09% from the company’s current price.

RYAN has been the topic of several other research reports. UBS Group boosted their price target on Ryan Specialty from $67.00 to $76.00 and gave the stock a “buy” rating in a research note on Tuesday, August 13th. Wells Fargo & Company lifted their price objective on Ryan Specialty from $63.00 to $70.00 and gave the stock an “equal weight” rating in a report on Thursday, October 10th. The Goldman Sachs Group increased their target price on Ryan Specialty from $64.00 to $72.00 and gave the company a “neutral” rating in a research note on Wednesday, October 9th. Barclays lifted their price target on shares of Ryan Specialty from $76.00 to $88.00 and gave the stock an “overweight” rating in a research note on Thursday, November 21st. Finally, BMO Capital Markets upgraded shares of Ryan Specialty from a “market perform” rating to an “outperform” rating and increased their price objective for the company from $65.00 to $75.00 in a research note on Tuesday, September 24th. One analyst has rated the stock with a sell rating, five have given a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $73.50.

Ryan Specialty Trading Down 1.2 %

RYAN opened at $72.53 on Thursday. The firm’s 50 day moving average is $70.86 and its 200-day moving average is $63.84. Ryan Specialty has a 52-week low of $41.49 and a 52-week high of $75.97. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 2.40. The firm has a market capitalization of $18.99 billion, a P/E ratio of 95.35, a P/E/G ratio of 1.68 and a beta of 0.67.

Ryan Specialty (NYSE:RYAN) last released its quarterly earnings results on Wednesday, October 30th. The company reported $0.41 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.41. Ryan Specialty had a net margin of 10.31% and a return on equity of 47.90%. The business had revenue of $604.69 million during the quarter, compared to analyst estimates of $602.04 million. During the same period last year, the business earned $0.32 EPS. The business’s revenue was up 20.5% on a year-over-year basis. Analysts expect that Ryan Specialty will post 1.8 EPS for the current fiscal year.

Insider Buying and Selling

In related news, EVP Mark Stephen Katz sold 14,790 shares of the company’s stock in a transaction on Friday, November 8th. The stock was sold at an average price of $71.39, for a total transaction of $1,055,858.10. Following the completion of the transaction, the executive vice president now directly owns 12,386 shares in the company, valued at $884,236.54. This represents a 54.42 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director David P. Bolger sold 7,055 shares of the firm’s stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $70.88, for a total value of $500,058.40. Following the completion of the sale, the director now owns 78,149 shares in the company, valued at $5,539,201.12. The trade was a 8.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 11.10% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Hollencrest Capital Management bought a new stake in shares of Ryan Specialty during the third quarter valued at approximately $25,000. Assetmark Inc. bought a new stake in Ryan Specialty during the 3rd quarter valued at $34,000. GAMMA Investing LLC boosted its position in Ryan Specialty by 96.4% during the 2nd quarter. GAMMA Investing LLC now owns 605 shares of the company’s stock worth $35,000 after acquiring an additional 297 shares during the period. Crewe Advisors LLC bought a new position in shares of Ryan Specialty in the second quarter worth $39,000. Finally, Quarry LP increased 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 valued at $54,000 after purchasing an additional 422 shares during the period. 84.82% of the stock is owned by institutional investors and hedge funds.

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.