Ryan Specialty (NYSE:RYAN) Now Covered by Analysts at Barclays

Barclays assumed coverage on shares of Ryan Specialty (NYSE:RYAN) in a report published on Wednesday, Marketbeat reports. The firm issued an overweight rating and a $76.00 price target on the stock.

RYAN has been the subject of several other research reports. Wells Fargo & Company boosted their price target on shares of Ryan Specialty from $60.00 to $63.00 and gave the stock an equal weight rating in a report on Friday, August 2nd. Citigroup raised their price target on shares of Ryan Specialty from $56.00 to $62.00 and gave the company a neutral rating in a research note on Tuesday, July 23rd. UBS Group increased their target price on Ryan Specialty from $67.00 to $76.00 and gave the company a buy rating in a report on Tuesday, August 13th. JPMorgan Chase & Co. lifted their price target on Ryan Specialty from $54.00 to $56.00 and gave the stock an underweight rating in a research note on Friday, August 2nd. Finally, The Goldman Sachs Group increased their price objective on Ryan Specialty from $58.00 to $64.00 and gave the company a neutral rating in a research note on Monday, August 5th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of Hold and a consensus target price of $63.40.

Ryan Specialty Price Performance

Shares of NYSE RYAN opened at $63.63 on Wednesday. The company has a debt-to-equity ratio of 1.81, a current ratio of 1.09 and a quick ratio of 1.09. The firm’s 50 day simple moving average is $61.76 and its 200-day simple moving average is $56.29. Ryan Specialty has a 12 month low of $41.49 and a 12 month high of $69.03. The stock has a market capitalization of $16.64 billion, a price-to-earnings ratio of 120.06, a PEG ratio of 1.52 and a beta of 0.62.

Ryan Specialty (NYSE:RYAN) last released its quarterly earnings data on Thursday, August 1st. The company reported $0.58 earnings per share for the quarter, beating analysts’ consensus estimates of $0.56 by $0.02. The company had revenue of $695.40 million during the quarter, compared to analysts’ expectations of $695.56 million. Ryan Specialty had a net margin of 10.21% and a return on equity of 48.08%. The firm’s revenue for the quarter was up 18.9% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.45 earnings per share. Analysts expect that Ryan Specialty will post 1.81 EPS for the current 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 given a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a dividend yield of 0.69%. The ex-dividend date was Tuesday, August 13th. Ryan Specialty’s payout ratio is presently 83.02%.

Insider Activity at Ryan Specialty

In other Ryan Specialty news, President Timothy William Turner sold 2,000,000 shares of the firm’s stock in a transaction on Friday, August 9th. The stock was sold at an average price of $62.45, for a total transaction of $124,900,000.00. Following the completion of the sale, the president now owns 8,095 shares of the company’s stock, valued at $505,532.75. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Ryan Specialty news, President Timothy William Turner sold 2,000,000 shares of Ryan Specialty stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $62.45, for a total transaction of $124,900,000.00. Following the completion of the sale, the president now directly owns 8,095 shares in the company, valued at $505,532.75. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Jeremiah Rawlins Bickham sold 26,233 shares of the company’s stock in a transaction that occurred on Wednesday, August 14th. The stock was sold at an average price of $65.18, for a total transaction of $1,709,866.94. Following the completion of the transaction, the executive vice president now owns 24,845 shares in the company, valued at $1,619,397.10. The disclosure for this sale can be found here. Over the last three months, insiders have sold 2,107,136 shares of company stock worth $131,860,032. Insiders own 11.10% of the company’s stock.

Institutional Investors Weigh In On Ryan Specialty

Several institutional investors and hedge funds have recently modified their holdings of RYAN. GAMMA Investing LLC lifted its position in shares of Ryan Specialty by 96.4% during the second quarter. GAMMA Investing LLC now owns 605 shares of the company’s stock worth $35,000 after purchasing an additional 297 shares in the last quarter. Arizona State Retirement System increased its stake in Ryan Specialty by 2.2% during the 2nd quarter. Arizona State Retirement System now owns 28,246 shares of the company’s stock worth $1,636,000 after buying an additional 611 shares during the period. Precision Wealth Strategies LLC lifted its holdings in Ryan Specialty by 4.1% during the 1st quarter. Precision Wealth Strategies LLC now owns 15,774 shares of the company’s stock worth $875,000 after buying an additional 617 shares in the last quarter. Anderson Hoagland & Co. boosted its position in Ryan Specialty by 1.2% in the 2nd quarter. Anderson Hoagland & Co. now owns 51,615 shares of the company’s stock valued at $2,909,000 after buying an additional 624 shares during the period. Finally, Crewe Advisors LLC acquired a new position in shares of Ryan Specialty in the second quarter worth $39,000. 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.