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

Ryan Specialty (NYSE:RYAN) had its target price hoisted by UBS Group from $63.00 to $67.00 in a report released on Tuesday morning, MarketBeat reports. They currently have a buy rating on the stock.

Other research analysts have also recently issued research reports about the company. Keefe, Bruyette & Woods reiterated an outperform rating and set a $62.00 price objective on shares of Ryan Specialty in a research report on Tuesday, July 2nd. JMP Securities reiterated a market perform rating on shares of Ryan Specialty in a research note on Monday, April 15th. Wolfe Research lowered shares of Ryan Specialty from an outperform rating to a peer perform rating in a research report on Monday, May 6th. Wells Fargo & Company lifted their price target on shares of Ryan Specialty from $57.00 to $58.00 and gave the company an overweight rating in a research report on Thursday, April 11th. Finally, Bank of America started coverage on Ryan Specialty in a research report on Wednesday, May 22nd. They set a buy rating and a $67.00 price target on the stock. One research analyst has rated the stock with a sell rating, six have given a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of Hold and a consensus target price of $57.50.

Ryan Specialty Stock Performance

NYSE RYAN opened at $56.34 on Tuesday. Ryan Specialty has a 52-week low of $41.49 and a 52-week high of $61.29. The stock has a market cap of $14.67 billion, a PE ratio of 106.30, a P/E/G ratio of 1.49 and a beta of 0.62. The firm has a 50-day moving average of $55.17 and a 200-day moving average of $50.69. The company has a debt-to-equity ratio of 1.99, a quick ratio of 1.15 and a current ratio of 1.15.

Ryan Specialty (NYSE:RYAN) last issued its quarterly earnings data on Thursday, May 2nd. The company reported $0.35 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.35. The company had revenue of $552.00 million during the quarter, compared to analysts’ expectations of $549.06 million. Ryan Specialty had a return on equity of 45.87% and a net margin of 9.15%. The business’s revenue was up 20.6% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.26 earnings per share. On average, sell-side analysts anticipate that Ryan Specialty will post 1.77 EPS for the current year.

Ryan Specialty Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, May 28th. Stockholders of record on Tuesday, May 14th were issued a dividend of $0.11 per share. The ex-dividend date was Monday, May 13th. This represents a $0.44 dividend on an annualized basis and a dividend yield of 0.78%. Ryan Specialty’s dividend payout ratio (DPR) is currently 83.02%.

Institutional Trading of Ryan Specialty

Several large investors have recently bought and sold shares of the business. Diversified Trust Co lifted its holdings in shares of Ryan Specialty by 12.3% in the third quarter. Diversified Trust Co now owns 11,832 shares of the company’s stock worth $573,000 after acquiring an additional 1,300 shares during the last quarter. American Century Companies Inc. boosted its position in Ryan Specialty by 17.7% in the third quarter. American Century Companies Inc. now owns 1,624,944 shares of the company’s stock valued at $78,647,000 after buying an additional 244,490 shares in the last quarter. Citigroup Inc. grew its stake in shares of Ryan Specialty by 34.5% during the third quarter. Citigroup Inc. now owns 10,095 shares of the company’s stock worth $489,000 after buying an additional 2,587 shares during the last quarter. Vanguard Group Inc. increased its holdings in shares of Ryan Specialty by 4.9% during the third quarter. Vanguard Group Inc. now owns 9,198,624 shares of the company’s stock worth $445,213,000 after buying an additional 428,165 shares in the last quarter. Finally, Renaissance Capital LLC lifted its stake in shares of Ryan Specialty by 29.2% in the 4th quarter. Renaissance Capital LLC now owns 60,564 shares of the company’s stock valued at $2,605,000 after acquiring an additional 13,684 shares during the last quarter. 84.82% of the stock is owned by institutional investors and hedge funds.

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.