Barclays lowered the firm’s price target on Ryan Specialty (RYAN) to $65 from $70 and keeps an Overweight rating on the shares. The firm reduced organic growth estimates “across the board” for the insurance brokers, saying property and casualty pricing is below expectations. “Persistent signs” of softening across the property and casualty markets along with weaker pricing data “signal a turning point,” the analyst tells investors in a research note.
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