Ryan Specialty (NYSE:RYAN) Price Target Cut to $77.00 by Analysts at Keefe, Bruyette & Woods

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

RYAN has been the topic of a number of other research reports. Barclays lifted their price target on shares of Ryan Specialty from $76.00 to $88.00 and gave the company an “overweight” rating in a research note on Thursday, November 21st. Morgan Stanley started coverage on shares of Ryan Specialty in a research note on Thursday, December 5th. They issued an “overweight” rating and a $90.00 price target on the stock. Bank of America lifted their price target on shares of Ryan Specialty from $75.00 to $84.00 and gave the company a “buy” rating in a research note on Thursday, October 10th. The Goldman Sachs Group lifted their price target on shares of Ryan Specialty from $64.00 to $72.00 and gave the company a “neutral” rating in a research note on Wednesday, October 9th. Finally, BMO Capital Markets raised shares of Ryan Specialty from a “market perform” rating to an “outperform” rating and lifted their price target for the company from $65.00 to $75.00 in a research note on Tuesday, September 24th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and six have issued a buy rating to the company. According to MarketBeat, Ryan Specialty has an average rating of “Hold” and an average price target of $75.00.

Ryan Specialty Trading Up 2.1 %

Shares of RYAN stock opened at $62.43 on Friday. Ryan Specialty has a 12-month low of $42.04 and a 12-month high of $75.97. The company has a market capitalization of $16.35 billion, a P/E ratio of 81.08, a P/E/G ratio of 1.52 and a beta of 0.72. The firm has a 50-day moving average price of $68.30 and a 200 day moving average price of $65.69. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 2.40.

Ryan Specialty (NYSE:RYAN) last posted its quarterly earnings data on Wednesday, October 30th. The company reported $0.41 earnings per share for the quarter, meeting the consensus estimate of $0.41. Ryan Specialty had a net margin of 10.31% and a return on equity of 47.90%. The firm had revenue of $604.69 million during the quarter, compared to analysts’ expectations of $602.04 million. During the same quarter last year, the company posted $0.32 EPS. The company’s quarterly revenue was up 20.5% compared to the same quarter last year. Research analysts forecast that Ryan Specialty will post 1.82 earnings per share for the current fiscal year.

Ryan Specialty Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, November 26th. Stockholders of record on Tuesday, November 12th were given a $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a dividend yield of 0.70%. The ex-dividend date of this dividend was Tuesday, November 12th. Ryan Specialty’s dividend payout ratio is presently 57.14%.

Insider Buying and Selling

In other Ryan Specialty news, Director Nicholas Dominic Cortezi sold 35,000 shares of the company’s stock in a transaction on Wednesday, December 18th. The shares were sold at an average price of $65.17, for a total value of $2,280,950.00. Following the transaction, the director now directly owns 50,400 shares in the company, valued at $3,284,568. The trade was a 40.98 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Mark Stephen Katz sold 14,790 shares of the company’s stock in a transaction on Friday, November 8th. The shares were sold at an average price of $71.39, for a total transaction of $1,055,858.10. Following the completion of the transaction, the executive vice president now owns 12,386 shares in the company, valued at approximately $884,236.54. This represents a 54.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 126,936 shares of company stock worth $8,536,282. Insiders own 11.10% of the company’s stock.

Hedge Funds Weigh In On Ryan Specialty

Several institutional investors and hedge funds have recently modified their holdings of the business. GAMMA Investing LLC grew its stake in shares of Ryan Specialty by 38.1% in the fourth quarter. GAMMA Investing LLC now owns 1,725 shares of the company’s stock valued at $111,000 after acquiring an additional 476 shares in the last quarter. JPMorgan Chase & Co. grew its stake in shares of Ryan Specialty by 107.5% in the third quarter. JPMorgan Chase & Co. now owns 459,464 shares of the company’s stock valued at $30,504,000 after acquiring an additional 238,064 shares in the last quarter. Principal Financial Group Inc. grew its stake in shares of Ryan Specialty by 148.9% in the third quarter. Principal Financial Group Inc. now owns 851,704 shares of the company’s stock valued at $56,545,000 after acquiring an additional 509,548 shares in the last quarter. Tidal Investments LLC lifted its position in Ryan Specialty by 30.4% during the third quarter. Tidal Investments LLC now owns 12,255 shares of the company’s stock worth $814,000 after purchasing an additional 2,858 shares during the period. Finally, Wilmington Savings Fund Society FSB bought a new stake in Ryan Specialty during the third quarter worth about $193,000. 84.82% of the stock is currently owned by institutional investors and hedge funds.

Ryan Specialty Company Profile

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.