Ryan Specialty (NYSE:RYAN) Given New $69.00 Price Target at Wells Fargo & Company

Ryan Specialty (NYSE:RYAN) had its price objective boosted by Wells Fargo & Company from $64.00 to $69.00 in a research report sent to investors on Friday,Benzinga reports. They currently have an equal weight rating on the stock.

A number of other equities analysts have also recently issued reports on the company. Morgan Stanley began 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. Keefe, Bruyette & Woods cut their price objective on Ryan Specialty from $77.00 to $76.00 and set an “outperform” rating for the company in a report on Friday. Finally, Barclays upped their price objective on Ryan Specialty from $76.00 to $88.00 and gave the stock an “overweight” rating in a report on Thursday, November 21st. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Ryan Specialty currently has a consensus rating of “Hold” and an average price target of $74.55.

Ryan Specialty Price Performance

Ryan Specialty stock opened at $65.55 on Friday. Ryan Specialty has a 52 week low of $45.72 and a 52 week high of $75.97. The business has a 50-day simple moving average of $65.57 and a 200 day simple moving average of $67.29. 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 stock has a market cap of $17.16 billion, a price-to-earnings ratio of 95.00, a PEG 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 EPS for the quarter, missing the consensus estimate of $0.47 by ($0.02). Ryan Specialty had a return on equity of 48.01% and a net margin of 9.14%. The business had revenue of $663.53 million for the quarter, compared to analysts’ expectations of $658.80 million. On average, research analysts forecast that Ryan Specialty will post 2.29 earnings per share for the current fiscal year.

Ryan Specialty Increases Dividend

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

Insider Buying and Selling at Ryan Specialty

In other news, Director Nicholas Dominic Cortezi sold 31,409 shares of the stock in a transaction that occurred on 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 completion of the transaction, the director now owns 2,697 shares of the company’s stock, valued at approximately $177,031.08. This represents a 92.09 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders sold 316,451 shares of company stock valued at $20,907,793 in the last 90 days. Insiders own 11.10% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Hollencrest Capital Management bought a new position in shares of Ryan Specialty in the 3rd quarter worth approximately $25,000. Rakuten Securities Inc. bought a new position in Ryan Specialty during the 4th quarter valued at approximately $27,000. Assetmark Inc. bought a new position in Ryan Specialty during the 3rd quarter valued at approximately $34,000. Kapitalo Investimentos Ltda bought a new position in Ryan Specialty during the 4th quarter valued at approximately $36,000. Finally, Principal Securities Inc. increased its position in Ryan Specialty by 164.7% during the 4th quarter. Principal Securities Inc. now owns 667 shares of the company’s stock valued at $43,000 after buying an additional 415 shares in the last quarter. Institutional investors own 84.82% of the company’s stock.

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.