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

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

Several other research analysts have also recently weighed in on RYAN. Barclays upped their price objective on shares of Ryan Specialty from $76.00 to $88.00 and gave the stock an “overweight” rating in a research report on Thursday, November 21st. Morgan Stanley initiated coverage on Ryan Specialty in a report on Thursday, December 5th. They issued an “overweight” rating and a $90.00 price objective for the company. Finally, Wells Fargo & Company decreased their price objective 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. One analyst has rated the stock with a sell rating, six have given a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $74.55.

Ryan Specialty Stock Down 4.4 %

RYAN opened at $65.55 on Friday. The company has a 50 day moving average of $65.57 and a 200 day moving average of $67.29. 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 has a 12 month low of $45.72 and a 12 month high of $75.97. The company has a market cap of $17.16 billion, a PE ratio of 95.00, a price-to-earnings-growth ratio of 1.19 and a beta of 0.72.

Ryan Specialty (NYSE:RYAN) last posted its earnings results on Thursday, February 20th. The company reported $0.45 earnings per share for the quarter, missing analysts’ consensus estimates of $0.47 by ($0.02). Ryan Specialty had a net margin of 9.14% and a return on equity of 48.01%. The company had revenue of $663.53 million for the quarter, compared to analysts’ expectations of $658.80 million. On average, sell-side analysts expect that Ryan Specialty will post 2.29 EPS for the current year.

Ryan Specialty Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 18th. Stockholders of record on Tuesday, March 4th will be paid a $0.12 dividend. The ex-dividend date of this dividend is Tuesday, March 4th. This represents a $0.48 annualized dividend and a dividend yield of 0.73%. This is an increase from Ryan Specialty’s previous quarterly dividend of $0.11. Ryan Specialty’s dividend payout ratio (DPR) is 63.77%.

Insider Buying and Selling

In other Ryan Specialty news, Director Nicholas Dominic Cortezi sold 31,409 shares of the firm’s stock in a transaction dated Wednesday, January 29th. The stock was sold at an average price of $65.64, for a total transaction of $2,061,686.76. Following the sale, the director now directly owns 2,697 shares of the company’s stock, valued at $177,031.08. This trade represents a 92.09 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In the last ninety days, insiders sold 316,451 shares of company stock valued at $20,907,793. 11.10% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Hollencrest Capital Management bought a new stake in shares of Ryan Specialty during the third quarter valued at approximately $25,000. Rakuten Securities Inc. purchased a new stake in Ryan Specialty in the 4th quarter worth $27,000. Assetmark Inc. bought a new position in shares of Ryan Specialty during the 3rd quarter valued at about $34,000. Kapitalo Investimentos Ltda purchased a new position in shares of Ryan Specialty during the fourth quarter valued at about $36,000. Finally, Principal Securities Inc. increased its holdings 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 last quarter. 84.82% of the stock is owned by hedge funds and other 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.