Ryan Specialty (NYSE:RYAN) Price Target Raised to $84.00

Ryan Specialty (NYSE:RYAN) had its price target raised by UBS Group from $82.00 to $84.00 in a report published on Wednesday morning,Benzinga reports. UBS Group currently has a buy rating on the stock.

RYAN has been the topic of a number of other research reports. Morgan Stanley assumed coverage on Ryan Specialty in a research note on Thursday, December 5th. They issued an “overweight” rating and a $90.00 price objective on the stock. Barclays boosted their price target 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. Keefe, Bruyette & Woods reduced their price objective on shares of Ryan Specialty from $77.00 to $76.00 and set an “outperform” rating for the company in a research report on Friday, February 21st. Royal Bank of Canada dropped their target price on shares of Ryan Specialty from $73.00 to $72.00 and set a “sector perform” rating on the stock in a report on Friday, February 21st. Finally, Wells Fargo & Company raised their target price on shares of Ryan Specialty from $64.00 to $69.00 and gave the stock an “equal weight” rating in a report on Friday, February 21st. One research analyst has rated the stock with a sell rating, six have given a hold rating and six have given a buy rating to the company. According to data from MarketBeat, Ryan Specialty presently has a consensus rating of “Hold” and an average price target of $75.27.

Ryan Specialty Stock Performance

Shares of RYAN opened at $70.07 on Wednesday. The firm has a market capitalization of $18.35 billion, a PE ratio of 101.54, a P/E/G ratio of 1.19 and a beta of 0.72. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 2.40. The firm has a 50-day moving average price of $66.02 and a 200 day moving average price of $67.40. Ryan Specialty has a 52-week low of $48.48 and a 52-week high of $75.97.

Ryan Specialty (NYSE:RYAN) last posted its quarterly earnings data on Thursday, February 20th. The company reported $0.45 earnings per share (EPS) for the quarter, missing the consensus estimate 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 during the quarter, compared to the consensus estimate of $658.80 million. On average, sell-side analysts anticipate that Ryan Specialty will post 2.29 earnings per share for the current fiscal year.

Ryan Specialty Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 18th. Shareholders of record on Tuesday, March 4th will be paid a dividend of $0.12 per share. This is an increase from Ryan Specialty’s previous quarterly dividend of $0.11. This represents a $0.48 annualized dividend and a yield of 0.69%. The ex-dividend date is Tuesday, March 4th. Ryan Specialty’s payout ratio is 69.57%.

Insider Activity

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Mariner LLC boosted its stake in shares of Ryan Specialty by 3.4% during the 4th quarter. Mariner LLC now owns 5,278 shares of the company’s stock valued at $339,000 after buying an additional 172 shares during the period. Sanctuary Advisors LLC boosted its position in Ryan Specialty by 1.2% during the fourth quarter. Sanctuary Advisors LLC now owns 15,690 shares of the company’s stock valued at $1,045,000 after purchasing an additional 188 shares during the last quarter. State of Alaska Department of Revenue grew its stake in Ryan Specialty by 1.6% in the fourth quarter. State of Alaska Department of Revenue now owns 12,130 shares of the company’s stock valued at $778,000 after purchasing an additional 190 shares in the last quarter. CIBC Asset Management Inc increased its position in Ryan Specialty by 5.6% in the 4th quarter. CIBC Asset Management Inc now owns 3,674 shares of the company’s stock worth $236,000 after purchasing an additional 196 shares during the last quarter. Finally, Treasurer of the State of North Carolina raised its stake in shares of Ryan Specialty by 0.6% during the 4th quarter. Treasurer of the State of North Carolina now owns 44,990 shares of the company’s stock worth $2,887,000 after purchasing an additional 280 shares in the last quarter. 84.82% of the stock is owned by hedge funds and other institutional investors.

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.