Ryan Specialty Group (NYSE:RYAN) Stock Rating Lowered by Zacks Investment Research

Ryan Specialty Group (NYSE:RYANGet Rating) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Saturday, Zacks.com reports.

According to Zacks, “Ryan Specialty Group Holdings Inc. is a service provider of specialty products and solutions for insurance brokers, agents and carriers. The company offer distribution, underwriting, product development, administration and risk management services by acting as a wholesale broker and a managing underwriter. Ryan Specialty Group Holdings Inc. is based in CHICAGO. “

A number of other equities research analysts have also commented on the stock. Royal Bank of Canada raised their price objective on shares of Ryan Specialty Group from $40.00 to $42.00 and gave the stock an “outperform” rating in a report on Wednesday, March 16th. Wells Fargo & Company decreased their target price on shares of Ryan Specialty Group from $41.00 to $38.00 and set an “equal weight” rating for the company in a research report on Wednesday, March 16th. Five equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $37.56.

RYAN opened at $38.30 on Friday. Ryan Specialty Group has a one year low of $25.57 and a one year high of $42.43. The company has a debt-to-equity ratio of 3.14, a current ratio of 1.21 and a quick ratio of 1.03. The company’s 50 day simple moving average is $38.16 and its 200-day simple moving average is $38.34.

Ryan Specialty Group (NYSE:RYANGet Rating) last announced its quarterly earnings data on Tuesday, March 15th. The company reported $0.29 earnings per share for the quarter, beating the consensus estimate of $0.28 by $0.01. The business had revenue of $378.54 million for the quarter, compared to analyst estimates of $382.98 million. Ryan Specialty Group had a net margin of 5.21% and a return on equity of 61.16%. On average, equities analysts anticipate that Ryan Specialty Group will post 1.22 EPS for the current fiscal year.

In related news, President Timothy William Turner sold 352,697 shares of Ryan Specialty Group stock in a transaction that occurred on Wednesday, May 18th. The shares were sold at an average price of $36.90, for a total transaction of $13,014,519.30. The sale was disclosed in a document filed with the SEC, which is available through the SEC website.

Hedge funds and other institutional investors have recently modified their holdings of the stock. Ghisallo Capital Management LLC bought a new position in shares of Ryan Specialty Group in the third quarter valued at $8,468,000. Islet Management LP bought a new position in shares of Ryan Specialty Group in the third quarter valued at $2,967,000. ProShare Advisors LLC bought a new position in shares of Ryan Specialty Group during the fourth quarter valued at about $202,000. TownSquare Capital LLC bought a new position in shares of Ryan Specialty Group during the third quarter valued at about $8,757,000. Finally, First Trust Advisors LP lifted its position in shares of Ryan Specialty Group by 102.7% during the fourth quarter. First Trust Advisors LP now owns 188,510 shares of the company’s stock valued at $7,606,000 after purchasing an additional 95,529 shares in the last quarter. 25.09% of the stock is currently owned by institutional investors and hedge funds.

Ryan Specialty Group Company Profile (Get Rating)

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.

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