An analyst at Goldman Sachs has adjusted their outlook on Ryan Specialty (NYSE: RYAN), setting a new price target of $35.00 and downgrading the stock to Neutral from Buy. Ryan Specialty is a service provider for insurance brokers and carriers, offering solutions for complex and hard-to-place risks. Its stock was priced at $32.56 at the time of the report.
The downgrade to a Neutral rating may reflect recent challenges. The Schall Law Firm is investigating Ryan Specialty for potential securities law violations, as highlighted by Business Wire. This follows the company's fourth-quarter 2025 results, which showed sharply lower organic revenue growth and a decrease in its EBITDAC margin compared to the previous year.
These results prompted the investigation, as the company noted an "intensification" of difficult pricing trends. Ryan Specialty saw rate decreases of 25% to 35% in the fourth quarter, which was higher than earlier in the year. Following this news, the company's stock price fell by almost 12.8% on the next trading day.
Despite these issues, the analyst's price target suggests some underlying strengths. As reported by Business Wire, AM Best assigned its highest Performance Assessment of PA-1 (Exceptional) to Ryan Specialty's Singapore unit. The rating agency also affirmed this top assessment for eight other affiliates, noting the company's exceptional underwriting capabilities.
The company's board also shows confidence, increasing its share repurchase program by $300 million. This program allows the company to buy back its own stock, which can support its price. This decision was made after Ryan Specialty had already used its previous authorization to buy back $260 million of its stock.
