Ryan Specialty (NYSE:RYAN) Raised to “Outperform” at BMO Capital Markets

BMO Capital Markets upgraded shares of Ryan Specialty (NYSE:RYAN) from a market perform rating to an outperform rating in a research note issued to investors on Tuesday, Marketbeat reports. BMO Capital Markets currently has $75.00 price target on the stock, up from their previous price target of $65.00.

Several other brokerages also recently issued reports on RYAN. Barclays began coverage on Ryan Specialty in a report on Wednesday, September 4th. They issued an overweight rating and a $76.00 price target on the stock. Wells Fargo & Company raised their price target on Ryan Specialty from $60.00 to $63.00 and gave the stock an equal weight rating in a report on Friday, August 2nd. Keefe, Bruyette & Woods reissued an outperform rating and issued a $62.00 price target on shares of Ryan Specialty in a report on Tuesday, July 2nd. UBS Group raised their price target on Ryan Specialty from $67.00 to $76.00 and gave the stock a buy rating in a report on Tuesday, August 13th. Finally, Citigroup raised their price target on Ryan Specialty from $56.00 to $62.00 and gave the stock a neutral rating in a report on Tuesday, July 23rd. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of Hold and an average target price of $66.78.

Ryan Specialty Trading Down 1.1 %

NYSE:RYAN opened at $66.19 on Tuesday. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 1.81. The business’s 50 day moving average is $63.68 and its two-hundred day moving average is $57.56. Ryan Specialty has a 52 week low of $41.49 and a 52 week high of $69.03. The company has a market cap of $17.31 billion, a PE ratio of 124.89, a P/E/G ratio of 1.52 and a beta of 0.62.

Ryan Specialty (NYSE:RYAN) last released its earnings results on Thursday, August 1st. The company reported $0.58 EPS for the quarter, topping analysts’ consensus estimates of $0.56 by $0.02. Ryan Specialty had a return on equity of 48.08% and a net margin of 10.21%. The company had revenue of $695.40 million for the quarter, compared to the consensus estimate of $695.56 million. During the same quarter last year, the business posted $0.45 EPS. Ryan Specialty’s quarterly revenue was up 18.9% compared to the same quarter last year. On average, analysts predict that Ryan Specialty will post 1.81 EPS for the current year.

Ryan Specialty Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, August 27th. Investors of record on Tuesday, August 13th were given a $0.11 dividend. This represents a $0.44 annualized dividend and a yield of 0.66%. The ex-dividend date of this dividend was Tuesday, August 13th. Ryan Specialty’s dividend payout ratio is currently 83.02%.

Insider Activity at Ryan Specialty

In other news, Director Nicholas Dominic Cortezi sold 5,375 shares of Ryan Specialty stock in a transaction on Wednesday, August 28th. The stock was sold at an average price of $64.73, for a total transaction of $347,923.75. Following the transaction, the director now directly owns 2,685 shares in the company, valued at approximately $173,800.05. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, President Timothy William Turner sold 2,000,000 shares of Ryan Specialty stock in a transaction on Friday, August 9th. The stock was sold at an average price of $62.45, for a total transaction of $124,900,000.00. Following the transaction, the president now directly owns 8,095 shares in the company, valued at approximately $505,532.75. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Nicholas Dominic Cortezi sold 5,375 shares of Ryan Specialty stock in a transaction on Wednesday, August 28th. The stock was sold at an average price of $64.73, for a total value of $347,923.75. Following the completion of the transaction, the director now owns 2,685 shares in the company, valued at $173,800.05. The disclosure for this sale can be found here. Insiders have sold a total of 2,107,136 shares of company stock worth $131,860,032 in the last three months. 11.10% of the stock is owned by company insiders.

Hedge Funds Weigh In On Ryan Specialty

Hedge funds have recently modified their holdings of the stock. GAMMA Investing LLC grew its holdings in shares of Ryan Specialty by 96.4% in the 2nd quarter. GAMMA Investing LLC now owns 605 shares of the company’s stock worth $35,000 after acquiring an additional 297 shares during the last quarter. Crewe Advisors LLC acquired a new position in shares of Ryan Specialty in the 2nd quarter worth $39,000. Intelligent Financial Strategies acquired a new position in shares of Ryan Specialty in the 1st quarter worth $44,000. Benjamin F. Edwards & Company Inc. acquired a new position in shares of Ryan Specialty in the 1st quarter worth $45,000. Finally, Rothschild Investment LLC acquired a new position in shares of Ryan Specialty in the 2nd quarter worth $87,000. 84.82% of the stock is currently owned by institutional investors and hedge funds.

About Ryan Specialty

Ryan Specialty Holdings, Inc operates as a service provider of specialty products and solutions for insurance brokers, agents, and carriers in the United States, Canada, the United Kingdom, Europe, and Singapore. It offers distribution, underwriting, product development, administration, and risk management services by acting as a wholesale broker and a managing underwriter.