Zacks Investment Research Upgrades Ryan Specialty Group (NYSE:RYAN) to Hold

Ryan Specialty Group (NYSE:RYANGet Rating) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued on Thursday, 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. “

Several other analysts also recently commented on the stock. Royal Bank of Canada upped their price objective on shares of Ryan Specialty Group from $40.00 to $42.00 and gave the company an “outperform” rating in a report on Wednesday, March 16th. Wells Fargo & Company cut their price target on Ryan Specialty Group from $41.00 to $38.00 and set an “equal weight” rating on the stock in a research report on Wednesday, March 16th. Five investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, Ryan Specialty Group has an average rating of “Buy” and a consensus price target of $37.67.

NYSE RYAN opened at $38.48 on Thursday. Ryan Specialty Group has a 12-month low of $25.57 and a 12-month high of $42.43. The firm’s fifty day simple moving average is $38.10 and its two-hundred day simple moving average is $38.32. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 2.63.

Ryan Specialty Group (NYSE:RYANGet Rating) last released its quarterly earnings results on Tuesday, March 15th. The company reported $0.29 EPS for the quarter, beating analysts’ consensus estimates of $0.28 by $0.01. Ryan Specialty Group had a return on equity of 75.61% and a net margin of 3.78%. The company had revenue of $378.54 million during the quarter, compared to analysts’ expectations of $382.98 million. On average, analysts predict that Ryan Specialty Group will post 1.18 earnings per share for the current fiscal year.

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Steward Partners Investment Advisory LLC acquired a new position in Ryan Specialty Group during the first quarter worth $26,000. Rockefeller Capital Management L.P. raised its position in shares of Ryan Specialty Group by 101.7% during the 4th quarter. Rockefeller Capital Management L.P. now owns 706 shares of the company’s stock worth $28,000 after purchasing an additional 356 shares during the last quarter. Cullen Frost Bankers Inc. purchased a new position in Ryan Specialty Group in the 1st quarter valued at about $31,000. Reilly Financial Advisors LLC boosted its holdings in Ryan Specialty Group by 126.5% in the 4th quarter. Reilly Financial Advisors LLC now owns 906 shares of the company’s stock worth $37,000 after buying an additional 506 shares during the last quarter. Finally, First Horizon Advisors Inc. raised its holdings in shares of Ryan Specialty Group by 1,529.0% during the fourth quarter. First Horizon Advisors Inc. now owns 1,010 shares of the company’s stock valued at $40,000 after acquiring an additional 948 shares during the last quarter. 25.09% of the stock is owned by institutional investors.

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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Analyst Recommendations for Ryan Specialty Group (NYSE:RYAN)

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