Cantor Fitzgerald Has Lowered Expectations for Ryan Specialty (NYSE:RYAN) Stock Price

Ryan Specialty (NYSE:RYAN) had its price objective cut by stock analysts at Cantor Fitzgerald from $45.00 to $40.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm presently has a “neutral” rating on the stock. Cantor Fitzgerald’s target price would suggest a potential upside of 14.79% from the stock’s previous close.

Other equities research analysts also recently issued reports about the company. JPMorgan Chase & Co. dropped their price objective on Ryan Specialty from $63.00 to $56.00 and set an “underweight” rating on the stock in a report on Wednesday, January 7th. Barclays dropped their price objective on Ryan Specialty from $45.00 to $41.00 and set an “overweight” rating on the stock in a report on Wednesday. The Goldman Sachs Group dropped their price objective on Ryan Specialty from $57.00 to $49.00 and set a “buy” rating on the stock in a report on Wednesday. UBS Group dropped their price objective on Ryan Specialty from $65.00 to $59.00 and set a “buy” rating on the stock in a report on Wednesday. Finally, Zacks Research downgraded Ryan Specialty from a “hold” rating to a “strong sell” rating in a report on Tuesday, February 24th. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, five have given a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $52.13.

Ryan Specialty Stock Down 0.2%

RYAN stock traded down $0.07 during midday trading on Thursday, hitting $34.85. 45,529 shares of the company’s stock were exchanged, compared to its average volume of 2,060,530. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 2.62. Ryan Specialty has a 12-month low of $31.50 and a 12-month high of $75.26. The firm has a 50 day moving average price of $38.73 and a 200-day moving average price of $48.64. The stock has a market capitalization of $9.21 billion, a price-to-earnings ratio of 82.80, a price-to-earnings-growth ratio of 0.88 and a beta of 0.71.

Ryan Specialty (NYSE:RYAN) last posted its quarterly earnings data on Thursday, February 12th. The company reported $0.45 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.50 by ($0.05). Ryan Specialty had a return on equity of 46.41% and a net margin of 7.02%.The business had revenue of $751.21 million for the quarter, compared to analysts’ expectations of $777.43 million. During the same quarter in the prior year, the firm earned $0.45 earnings per share. Ryan Specialty’s revenue for the quarter was up 13.2% compared to the same quarter last year. On average, analysts anticipate that Ryan Specialty will post 2.29 EPS for the current year.

Insider Buying and Selling at Ryan Specialty

In other news, Director Patrick G. Ryan, Jr. purchased 25,500 shares of the stock in a transaction dated Monday, February 23rd. The stock was acquired at an average cost of $39.96 per share, for a total transaction of $1,018,980.00. Following the acquisition, the director owned 428,295 shares of the company’s stock, valued at $17,114,668.20. The trade was a 6.33% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 52.21% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Westview Management dba Westview Investment Advisors acquired a new position in Ryan Specialty during the 4th quarter valued at approximately $2,082,000. JPMorgan Chase & Co. boosted its position in Ryan Specialty by 149.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 421,330 shares of the company’s stock valued at $23,746,000 after purchasing an additional 252,582 shares during the period. Beck Mack & Oliver LLC acquired a new position in Ryan Specialty during the 3rd quarter valued at approximately $2,818,000. Geneva Capital Management LLC boosted its position in Ryan Specialty by 11.2% during the 3rd quarter. Geneva Capital Management LLC now owns 535,742 shares of the company’s stock valued at $30,194,000 after purchasing an additional 53,810 shares during the period. Finally, TD Asset Management Inc boosted its position in Ryan Specialty by 2,181.8% during the 3rd quarter. TD Asset Management Inc now owns 205,133 shares of the company’s stock valued at $11,561,000 after purchasing an additional 196,143 shares during the period. Institutional investors and hedge funds own 84.82% of the company’s stock.

About Ryan Specialty

Ryan Specialty Group, Inc (NYSE: RYAN) is a global specialty insurance and reinsurance platform that partners with a network of insurers and reinsurers to deliver tailored risk solutions. The company focuses on complex and large-scale risks across multiple industry sectors, leveraging its underwriting expertise to structure coverage programs that meet clients’ unique needs.

Ryan Specialty’s core offerings span a diverse range of specialty lines, including casualty, property, professional liability, marine and energy, program administration, and sports and entertainment.