Ryan Specialty (NYSE:RYAN – Free Report) had its target price raised by Bank of America from $75.00 to $84.00 in a research report report published on Thursday morning, Benzinga reports. Bank of America currently has a buy rating on the stock.
Several other equities analysts have also recently issued reports on the stock. The Goldman Sachs Group upped their target price on shares of Ryan Specialty from $64.00 to $72.00 and gave the company a neutral rating in a research note on Wednesday, October 9th. Keefe, Bruyette & Woods reaffirmed an outperform rating and issued a $62.00 price objective on shares of Ryan Specialty in a report on Tuesday, July 2nd. JPMorgan Chase & Co. boosted their price target on Ryan Specialty from $54.00 to $56.00 and gave the company an underweight rating in a report on Friday, August 2nd. Barclays began coverage on Ryan Specialty in a research note on Wednesday, September 4th. They issued an overweight rating and a $76.00 price objective on the stock. Finally, BMO Capital Markets raised shares of Ryan Specialty from a market perform rating to an outperform rating and increased their target price for the stock from $65.00 to $75.00 in a report on Tuesday, September 24th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of Hold and an average price target of $70.33.
Get Our Latest Research Report on Ryan Specialty
Ryan Specialty Stock Performance
Ryan Specialty (NYSE:RYAN – Get Free Report) last issued its quarterly earnings results on Thursday, August 1st. The company reported $0.58 EPS for the quarter, topping analysts’ consensus estimates of $0.56 by $0.02. The firm had revenue of $695.40 million for the quarter, compared to analysts’ expectations of $695.56 million. Ryan Specialty had a return on equity of 48.08% and a net margin of 10.21%. The business’s revenue for the quarter was up 18.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.45 EPS. On average, equities analysts forecast that Ryan Specialty will post 1.81 earnings per share for the current fiscal year.
Ryan Specialty Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Tuesday, August 27th. Stockholders of record on Tuesday, August 13th were paid a dividend of $0.11 per share. The ex-dividend date was Tuesday, August 13th. This represents a $0.44 annualized dividend and a dividend yield of 0.61%. Ryan Specialty’s dividend payout ratio is currently 68.75%.
Insider Buying and Selling at Ryan Specialty
In other news, EVP Jeremiah Rawlins Bickham sold 26,233 shares of Ryan Specialty stock in a transaction that occurred on Wednesday, August 14th. The shares were sold at an average price of $65.18, for a total value of $1,709,866.94. Following the transaction, the executive vice president now owns 24,845 shares of the company’s stock, valued at $1,619,397.10. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, EVP Jeremiah Rawlins Bickham sold 26,233 shares of the business’s stock in a transaction on Wednesday, August 14th. The shares were sold at an average price of $65.18, for a total transaction of $1,709,866.94. Following the sale, the executive vice president now directly owns 24,845 shares of the company’s stock, valued at $1,619,397.10. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Nicholas Dominic Cortezi sold 35,000 shares of the business’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $65.15, for a total value of $2,280,250.00. Following the sale, the director now owns 9,115 shares in the company, valued at approximately $593,842.25. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 2,107,136 shares of company stock valued at $131,860,032. Company insiders own 11.10% of the company’s stock.
Institutional Trading of Ryan Specialty
Institutional investors and hedge funds have recently made changes to their positions in the business. Champlain Investment Partners LLC grew its stake in Ryan Specialty by 28.0% during the 1st quarter. Champlain Investment Partners LLC now owns 4,937,332 shares of the company’s stock valued at $274,022,000 after acquiring an additional 1,079,505 shares in the last quarter. Norden Group LLC increased its holdings in Ryan Specialty by 2,138.1% in the first quarter. Norden Group LLC now owns 778,848 shares of the company’s stock valued at $43,226,000 after buying an additional 744,049 shares during the last quarter. Bessemer Group Inc. lifted its position in shares of Ryan Specialty by 33.9% during the 1st quarter. Bessemer Group Inc. now owns 1,925,864 shares of the company’s stock worth $106,886,000 after buying an additional 488,067 shares during the last quarter. Bank of New York Mellon Corp grew its stake in Ryan Specialty by 132.2% during the 2nd quarter. Bank of New York Mellon Corp now owns 836,209 shares of the company’s stock worth $48,425,000 after buying an additional 476,126 shares during the last quarter. Finally, 2Xideas AG acquired a new position in Ryan Specialty during the first quarter worth approximately $19,765,000. 84.82% of the stock is currently 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.
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