Ryan Specialty (NYSE:RYAN) Given New $76.00 Price Target at Keefe, Bruyette & Woods

Ryan Specialty (NYSE:RYAN) had its price target trimmed by Keefe, Bruyette & Woods from $77.00 to $76.00 in a research report released on Friday morning,Benzinga reports. The firm currently has an outperform rating on the stock.

A number of other equities analysts also recently weighed in on the company. Morgan Stanley assumed coverage on Ryan Specialty in a research report on Thursday, December 5th. They set an “overweight” rating and a $90.00 price target on the stock. Wells Fargo & Company decreased their target price on Ryan Specialty from $68.00 to $64.00 and set an “equal weight” rating on the stock in a report on Tuesday, January 14th. Finally, Barclays raised their price target on Ryan Specialty from $76.00 to $88.00 and gave the company an “overweight” rating in a report on Thursday, November 21st. One analyst has rated the stock with a sell rating, six have assigned a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $74.55.

Ryan Specialty Price Performance

NYSE:RYAN opened at $65.55 on Friday. The stock has a market capitalization of $17.16 billion, a PE ratio of 85.13, a P/E/G ratio of 1.21 and a beta of 0.72. Ryan Specialty has a 1-year low of $45.72 and a 1-year high of $75.97. The firm has a fifty day simple moving average of $65.57 and a 200 day simple moving average of $67.26. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 2.40.

Ryan Specialty (NYSE:RYAN) last announced its quarterly earnings data on Thursday, February 20th. The company reported $0.45 EPS for the quarter, missing analysts’ consensus estimates of $0.47 by ($0.02). The firm had revenue of $663.53 million during the quarter, compared to the consensus estimate of $658.80 million. Ryan Specialty had a net margin of 10.31% and a return on equity of 47.90%. On average, research analysts expect that Ryan Specialty will post 1.82 EPS for the current fiscal year.

Ryan Specialty Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 18th. Stockholders of record on Tuesday, March 4th will be given a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.73%. The ex-dividend date is Tuesday, March 4th. This is a boost from Ryan Specialty’s previous quarterly dividend of $0.11. Ryan Specialty’s payout ratio is presently 63.77%.

Insider Activity at Ryan Specialty

In other Ryan Specialty news, Director Nicholas Dominic Cortezi sold 31,409 shares of Ryan Specialty stock in a transaction dated Wednesday, January 29th. The shares were sold at an average price of $65.64, for a total value of $2,061,686.76. Following the completion of the sale, the director now owns 2,697 shares in the company, valued at $177,031.08. The trade was a 92.09 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Over the last three months, insiders have sold 316,451 shares of company stock worth $20,907,793. Corporate insiders own 11.10% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in RYAN. Hollencrest Capital Management acquired a new stake in Ryan Specialty during the third quarter worth approximately $25,000. Rakuten Securities Inc. acquired a new position in Ryan Specialty in the 4th quarter valued at $27,000. Assetmark Inc. bought a new stake in shares of Ryan Specialty during the 3rd quarter valued at $34,000. Kapitalo Investimentos Ltda acquired a new stake in shares of Ryan Specialty during the 4th quarter worth $36,000. Finally, Principal Securities Inc. increased its position in shares of Ryan Specialty by 164.7% in the fourth quarter. Principal Securities Inc. now owns 667 shares of the company’s stock worth $43,000 after purchasing an additional 415 shares during the period. 84.82% of the stock is owned by institutional investors.

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.