Ryan Specialty (NYSE:RYAN) Price Target Raised to $67.00

Ryan Specialty (NYSE:RYAN) had its target price raised by Morgan Stanley from $65.00 to $67.00 in a research report released on Monday, Marketbeat Ratings reports. They currently have an overweight rating on the stock.

A number of other brokerages have also issued reports on RYAN. The Goldman Sachs Group cut their target price on Ryan Specialty from $71.00 to $63.00 and set a “buy” rating on the stock in a research report on Friday, October 31st. Barclays reiterated an “overweight” rating and issued a $70.00 price objective on shares of Ryan Specialty in a report on Wednesday, October 8th. Citigroup started coverage on Ryan Specialty in a report on Wednesday, August 13th. They set a “buy” rating and a $74.00 target price for the company. Keefe, Bruyette & Woods dropped their target price on Ryan Specialty from $73.00 to $65.00 and set an “outperform” rating for the company in a research report on Monday, November 3rd. Finally, BMO Capital Markets cut their price target on shares of Ryan Specialty from $70.00 to $66.00 and set an “outperform” rating on the stock in a research note on Monday, November 3rd. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $68.69.

Ryan Specialty Trading Down 1.7%

Shares of RYAN stock opened at $56.01 on Monday. Ryan Specialty has a 1-year low of $50.08 and a 1-year high of $77.16. The firm has a market cap of $14.77 billion, a PE ratio of 121.75, a price-to-earnings-growth ratio of 1.59 and a beta of 0.62. The company has a 50-day moving average of $54.77 and a two-hundred day moving average of $60.91. The company has a debt-to-equity ratio of 2.72, a current ratio of 1.00 and a quick ratio of 1.00.

Ryan Specialty (NYSE:RYAN) last released its quarterly earnings results on Thursday, October 30th. The company reported $0.47 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.47. The business had revenue of $754.58 million for the quarter, compared to the consensus estimate of $742.35 million. Ryan Specialty had a net margin of 7.61% and a return on equity of 47.93%. The business’s revenue was up 24.8% on a year-over-year basis. During the same period in the previous year, the firm earned $0.41 EPS. On average, analysts predict that Ryan Specialty will post 2.29 EPS for the current year.

Ryan Specialty Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, November 25th. Shareholders of record on Tuesday, November 11th will be issued a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 0.9%. The ex-dividend date is Monday, November 10th. Ryan Specialty’s payout ratio is 104.35%.

Insider Activity at Ryan Specialty

In other news, Chairman Patrick G. Ryan acquired 276,634 shares of the company’s stock in a transaction on Friday, September 12th. The shares were bought at an average cost of $51.84 per share, with a total value of $14,340,706.56. Following the transaction, the chairman owned 13,699,959 shares in the company, valued at approximately $710,205,874.56. This trade represents a 2.06% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 52.21% of the company’s stock.

Hedge Funds Weigh In On Ryan Specialty

Several large investors have recently bought and sold shares of the business. Ameritas Investment Partners Inc. grew its position in Ryan Specialty by 0.9% during the third quarter. Ameritas Investment Partners Inc. now owns 21,119 shares of the company’s stock worth $1,190,000 after buying an additional 185 shares during the period. MAI Capital Management lifted its position in shares of Ryan Specialty by 65.3% during the 2nd quarter. MAI Capital Management now owns 476 shares of the company’s stock valued at $32,000 after acquiring an additional 188 shares during the period. Baker Tilly Wealth Management LLC boosted its stake in shares of Ryan Specialty by 5.6% during the 3rd quarter. Baker Tilly Wealth Management LLC now owns 3,595 shares of the company’s stock worth $203,000 after acquiring an additional 192 shares in the last quarter. Public Employees Retirement System of Ohio grew its holdings in shares of Ryan Specialty by 0.6% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 32,797 shares of the company’s stock worth $1,848,000 after acquiring an additional 203 shares during the period. Finally, ProShare Advisors LLC grew its holdings in shares of Ryan Specialty by 5.2% in 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 during the period. Hedge funds and other 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.