Ryan Specialty Holdings, Inc. (NYSE:RYAN – Get Rating)’s share price gapped down prior to trading on Friday after Royal Bank of Canada lowered their price target on the stock from $47.00 to $46.00. The stock had previously closed at $44.45, but opened at $37.18. Royal Bank of Canada currently has a sector perform rating on the stock. Ryan Specialty shares last traded at $34.62, with a volume of 17,991 shares.
Several other equities research analysts also recently commented on RYAN. Wells Fargo & Company decreased their price objective on Ryan Specialty from $44.00 to $41.00 and set an “equal weight” rating for the company in a report on Friday. JPMorgan Chase & Co. decreased their price objective on Ryan Specialty from $40.00 to $39.00 in a report on Friday. Finally, Barclays upped their price target on Ryan Specialty to $51.00 in a report on Monday, August 15th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Ryan Specialty currently has a consensus rating of “Hold” and an average target price of $44.80.
Hedge Funds Weigh In On Ryan Specialty
Institutional investors have recently modified their holdings of the company. Envestnet Asset Management Inc. increased its position in shares of Ryan Specialty by 14.3% during the 1st quarter. Envestnet Asset Management Inc. now owns 16,484 shares of the company’s stock valued at $639,000 after purchasing an additional 2,059 shares during the last quarter. Venture Visionary Partners LLC bought a new position in shares of Ryan Specialty during the 2nd quarter valued at about $27,000. Swiss National Bank increased its position in shares of Ryan Specialty by 7.5% during the 1st quarter. Swiss National Bank now owns 168,900 shares of the company’s stock valued at $6,552,000 after purchasing an additional 11,800 shares during the last quarter. Maryland State Retirement & Pension System bought a new position in Ryan Specialty during the 2nd quarter worth approximately $248,000. Finally, Steward Partners Investment Advisory LLC bought a new position in Ryan Specialty during the 1st quarter worth approximately $26,000. 26.60% of the stock is currently owned by institutional investors.
Ryan Specialty Trading Down 18.8 %
The firm has a 50-day moving average of $42.02 and a 200-day moving average of $40.60. The company has a debt-to-equity ratio of 2.79, a quick ratio of 1.18 and a current ratio of 1.18. The firm has a market capitalization of $9.35 billion, a P/E ratio of 167.24 and a beta of 0.71.
Ryan Specialty (NYSE:RYAN – Get Rating) last posted its quarterly earnings results on Thursday, August 11th. The company reported $0.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.36 by $0.03. Ryan Specialty had a return on equity of 52.62% and a net margin of 5.30%. The business had revenue of $491.30 million for the quarter, compared to analyst estimates of $459.84 million. The firm’s revenue was up 26.0% on a year-over-year basis. On average, equities research analysts anticipate that Ryan Specialty Holdings, Inc. will post 1.24 EPS for the current fiscal year.
Ryan Specialty Company Profile
Ryan Specialty Group Holdings, Inc operates as a service provider of specialty products and solutions for insurance brokers, agents, and carriers. It offers distribution, underwriting, product development, administration, and risk management services by acting as a wholesale broker and a managing underwriter.