Ryan Specialty (NYSE:RYAN) Coverage Initiated by Analysts at Citigroup

Citigroup assumed coverage on shares of Ryan Specialty (NYSE:RYAN) in a research report released on Wednesday morning, MarketBeat.com reports. The brokerage issued a buy rating and a $74.00 target price on the stock.

RYAN has been the subject of a number of other reports. The Goldman Sachs Group upgraded Ryan Specialty from a “neutral” rating to a “buy” rating and upped their target price for the company from $74.00 to $81.00 in a research note on Tuesday, May 13th. UBS Group decreased their target price on Ryan Specialty from $84.00 to $80.00 and set a “buy” rating on the stock in a report on Monday, August 4th. Cantor Fitzgerald initiated coverage on shares of Ryan Specialty in a report on Tuesday. They issued a “neutral” rating and a $61.00 price target for the company. Wall Street Zen upgraded shares of Ryan Specialty from a “sell” rating to a “hold” rating in a research report on Sunday, August 3rd. Finally, Barclays lowered their price target on shares of Ryan Specialty from $83.00 to $79.00 and set an “overweight” rating for the company in a research report on Monday, July 7th. Four investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, Ryan Specialty presently has an average rating of “Moderate Buy” and an average price target of $75.08.

Ryan Specialty Stock Performance

RYAN stock opened at $59.14 on Wednesday. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 2.88. The company has a market capitalization of $15.60 billion, a price-to-earnings ratio of 168.98, a P/E/G ratio of 1.65 and a beta of 0.64. Ryan Specialty has a 12 month low of $55.77 and a 12 month high of $77.16. The firm has a 50 day moving average of $64.25 and a two-hundred day moving average of $67.73.

Ryan Specialty (NYSE:RYAN) last released its quarterly earnings results on Thursday, July 31st. The company reported $0.66 EPS for the quarter, meeting analysts’ consensus estimates of $0.66. Ryan Specialty had a net margin of 6.81% and a return on equity of 48.70%. The company had revenue of $855.17 million for the quarter, compared to analyst estimates of $837.52 million. During the same quarter last year, the firm posted $0.58 earnings per share. The company’s quarterly revenue was up 23.0% compared to the same quarter last year. As a group, equities analysts anticipate that Ryan Specialty will post 2.29 EPS for the current fiscal year.

Ryan Specialty Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, August 26th. Shareholders of record on Tuesday, August 12th will be issued a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 0.8%. The ex-dividend date is Tuesday, August 12th. Ryan Specialty’s dividend payout ratio is 137.14%.

Insider Activity

In other news, Director David P. Bolger sold 5,000 shares of the company’s stock in a transaction that occurred on Tuesday, June 3rd. The shares were sold at an average price of $70.80, for a total value of $354,000.00. Following the completion of the transaction, the director owned 71,467 shares in the company, valued at $5,059,863.60. This represents a 6.54% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Mark Stephen Katz sold 14,377 shares of the stock in a transaction on Friday, June 13th. The stock was sold at an average price of $65.84, for a total transaction of $946,581.68. Following the sale, the executive vice president directly owned 1,117 shares of the company’s stock, valued at $73,543.28. This represents a 92.79% decrease in their position. The disclosure for this sale can be found here. 52.21% of the stock is owned by corporate insiders.

Institutional Trading of Ryan Specialty

Several hedge funds and other institutional investors have recently modified their holdings of RYAN. Mariner LLC grew its holdings in shares of Ryan Specialty by 3.4% during the fourth quarter. Mariner LLC now owns 5,278 shares of the company’s stock worth $339,000 after buying an additional 172 shares in the last quarter. MAI Capital Management boosted its position in Ryan Specialty by 65.3% during the 2nd quarter. MAI Capital Management now owns 476 shares of the company’s stock worth $32,000 after acquiring an additional 188 shares during the last quarter. Crossmark Global Holdings Inc. grew its stake in shares of Ryan Specialty by 2.9% during the 1st quarter. Crossmark Global Holdings Inc. now owns 7,351 shares of the company’s stock worth $543,000 after acquiring an additional 207 shares in the last quarter. ProShare Advisors LLC grew its stake in shares of Ryan Specialty by 5.2% during the 2nd quarter. ProShare Advisors LLC now owns 4,772 shares of the company’s stock worth $324,000 after acquiring an additional 238 shares in the last quarter. Finally, Whittier Trust Co. of Nevada Inc. raised its holdings in shares of Ryan Specialty by 281.6% in the first quarter. Whittier Trust Co. of Nevada Inc. now owns 332 shares of the company’s stock valued at $25,000 after purchasing an additional 245 shares during the last quarter. Institutional investors and hedge funds 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.