Ryan Specialty (NYSE:RYAN) Stock Rating Lowered by BMO Capital Markets

Ryan Specialty (NYSE:RYAN) was downgraded by investment analysts at BMO Capital Markets from an “outperform” rating to a “market perform” rating in a research report issued to clients and investors on Wednesday, Marketbeat.com reports. They currently have a $43.00 price objective on the stock, down from their prior price objective of $66.00. BMO Capital Markets’ price target would suggest a potential upside of 9.64% from the company’s current price.

RYAN has been the subject of a number of other research reports. JPMorgan Chase & Co. cut their price objective on shares of Ryan Specialty from $63.00 to $56.00 and set an “underweight” rating for the company in a research report on Wednesday, January 7th. Jefferies Financial Group assumed coverage on Ryan Specialty in a research report on Monday, December 1st. They issued a “hold” rating and a $64.00 price target for the company. Keefe, Bruyette & Woods reduced their target price on Ryan Specialty from $65.00 to $55.00 and set an “outperform” rating on the stock in a research note on Friday, February 13th. Weiss Ratings lowered shares of Ryan Specialty from a “hold (c-)” rating to a “sell (d+)” rating in a report on Thursday, February 5th. Finally, Barclays lowered their target price on shares of Ryan Specialty from $58.00 to $52.00 and set an “overweight” rating for the company in a research note on Friday, February 13th. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, five have assigned a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $57.47.

Ryan Specialty Price Performance

Shares of RYAN opened at $39.22 on Wednesday. The company has a debt-to-equity ratio of 2.62, a quick ratio of 0.98 and a current ratio of 0.98. Ryan Specialty has a fifty-two week low of $37.29 and a fifty-two week high of $77.16. The firm has a 50-day simple moving average of $47.66 and a 200-day simple moving average of $52.81. The company has a market capitalization of $10.36 billion, a price-to-earnings ratio of 93.38, a price-to-earnings-growth ratio of 0.99 and a beta of 0.62.

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

Insiders Place Their Bets

In other news, CEO Timothy William Turner sold 129,570 shares of the company’s stock in a transaction on Friday, December 12th. The stock was sold at an average price of $53.61, for a total transaction of $6,946,247.70. Following the completion of the sale, the chief executive officer directly owned 12,553 shares in the company, valued at $672,966.33. This represents a 91.17% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Patrick G. Ryan, Jr. bought 25,500 shares of Ryan Specialty stock in a transaction that occurred on Monday, February 23rd. The stock was purchased at an average price of $39.96 per share, for a total transaction of $1,018,980.00. Following the acquisition, the director directly owned 428,295 shares of the company’s stock, valued at $17,114,668.20. The trade was a 6.33% increase in their position. The SEC filing for this purchase provides additional information. Corporate insiders own 52.21% of the company’s stock.

Institutional Trading of Ryan Specialty

A number of institutional investors and hedge funds have recently bought and sold shares of RYAN. Sumitomo Mitsui Trust Group Inc. lifted its holdings in shares of Ryan Specialty by 2.5% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,387,108 shares of the company’s stock valued at $78,177,000 after acquiring an additional 33,588 shares in the last quarter. Cooper Investors PTY Ltd. raised its position in Ryan Specialty by 33.9% in the third quarter. Cooper Investors PTY Ltd. now owns 505,374 shares of the company’s stock valued at $28,483,000 after purchasing an additional 127,892 shares during the period. Marshall Wace LLP lifted its stake in shares of Ryan Specialty by 142.1% during the second quarter. Marshall Wace LLP now owns 380,116 shares of the company’s stock worth $25,844,000 after purchasing an additional 223,124 shares in the last quarter. Waters Parkerson & CO. LLC boosted its position in shares of Ryan Specialty by 4.3% in the third quarter. Waters Parkerson & CO. LLC now owns 508,120 shares of the company’s stock worth $28,638,000 after buying an additional 20,920 shares during the period. Finally, Sumitomo Mitsui DS Asset Management Company Ltd boosted its position in shares of Ryan Specialty by 56.0% in the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 68,671 shares of the company’s stock worth $3,870,000 after buying an additional 24,656 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.