Ryan Specialty (NYSE:RYAN) Given New $77.00 Price Target at Keefe, Bruyette & Woods

Ryan Specialty (NYSE:RYAN) had its price objective reduced by Keefe, Bruyette & Woods from $79.00 to $77.00 in a research report sent to investors on Friday,Benzinga reports. Keefe, Bruyette & Woods currently has an outperform rating on the stock.

A number of other brokerages have also commented on RYAN. Wells Fargo & Company boosted their price objective on Ryan Specialty from $63.00 to $70.00 and gave the stock an “equal weight” rating in a report on Thursday, October 10th. Morgan Stanley began coverage on Ryan Specialty in a research report on Thursday, December 5th. They issued an “overweight” rating and a $90.00 price target for the company. BMO Capital Markets upgraded shares of Ryan Specialty from a “market perform” rating to an “outperform” rating and upped their target price for the stock from $65.00 to $75.00 in a research note on Tuesday, September 24th. The Goldman Sachs Group increased their target price on shares of Ryan Specialty from $64.00 to $72.00 and gave the company a “neutral” rating in a report on Wednesday, October 9th. Finally, Bank of America boosted their price target on shares of Ryan Specialty from $75.00 to $84.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $75.00.

Ryan Specialty Price Performance

Ryan Specialty stock opened at $62.43 on Friday. The stock’s 50 day moving average price is $68.30 and its two-hundred day moving average price is $65.59. The stock has a market capitalization of $16.35 billion, a price-to-earnings ratio of 81.08, a PEG ratio of 1.52 and a beta of 0.72. The company has a debt-to-equity ratio of 2.40, a quick ratio of 1.01 and a current ratio of 1.01. Ryan Specialty has a 52-week low of $42.04 and a 52-week high of $75.97.

Ryan Specialty (NYSE:RYAN) last issued its earnings results on Wednesday, October 30th. The company reported $0.41 EPS for the quarter, meeting analysts’ consensus estimates of $0.41. Ryan Specialty had a return on equity of 47.90% and a net margin of 10.31%. The business had revenue of $604.69 million during the quarter, compared to analyst estimates of $602.04 million. During the same period in the previous year, the company posted $0.32 EPS. The firm’s revenue was up 20.5% compared to the same quarter last year. On average, equities analysts predict that Ryan Specialty will post 1.82 earnings per share for the current year.

Ryan Specialty Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, November 26th. Investors of record on Tuesday, November 12th were issued a $0.11 dividend. This represents a $0.44 annualized dividend and a yield of 0.70%. The ex-dividend date was Tuesday, November 12th. Ryan Specialty’s dividend payout ratio (DPR) is currently 57.14%.

Insider Buying and Selling at Ryan Specialty

In related news, Director David P. Bolger sold 7,055 shares of the stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $70.88, for a total transaction of $500,058.40. Following the sale, the director now owns 78,149 shares of the company’s stock, valued at approximately $5,539,201.12. This represents a 8.28 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Nicholas Dominic Cortezi sold 35,000 shares of Ryan Specialty stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $67.39, for a total value of $2,358,650.00. Following the transaction, the director now directly owns 65,100 shares of the company’s stock, valued at $4,387,089. The trade was a 34.97 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 126,936 shares of company stock valued at $8,536,282 over the last three months. 11.10% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Ryan Specialty

A number of large investors have recently modified their holdings of the company. State Street Corp lifted its stake in Ryan Specialty by 1.5% in the 3rd quarter. State Street Corp now owns 3,273,093 shares of the company’s stock worth $217,301,000 after purchasing an additional 49,198 shares in the last quarter. Janus Henderson Group PLC raised its position in shares of Ryan Specialty by 0.4% in the third quarter. Janus Henderson Group PLC now owns 3,148,916 shares of the company’s stock worth $209,058,000 after buying an additional 13,986 shares in the last quarter. Blair William & Co. IL boosted its stake in Ryan Specialty by 3.4% during the second quarter. Blair William & Co. IL now owns 2,866,003 shares of the company’s stock valued at $165,970,000 after buying an additional 94,663 shares during the period. Barclays PLC grew its holdings in shares of Ryan Specialty by 1.1% during the third quarter. Barclays PLC now owns 1,641,743 shares of the company’s stock worth $108,994,000 after purchasing an additional 17,267 shares in the last quarter. Finally, Eagle Asset Management Inc. increased its position in shares of Ryan Specialty by 32.1% in the third quarter. Eagle Asset Management Inc. now owns 1,380,510 shares of the company’s stock worth $98,555,000 after purchasing an additional 335,180 shares during the last quarter. 84.82% of the stock is currently 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.