Barclays Forecasts Strong Price Appreciation for Ryan Specialty (NYSE:RYAN) Stock

Ryan Specialty (NYSE:RYAN) had its price target hoisted by Barclays from $76.00 to $88.00 in a research report released on Thursday,Benzinga reports. Barclays currently has an overweight rating on the stock.

A number of other research analysts have also recently weighed in on RYAN. BMO Capital Markets raised Ryan Specialty from a “market perform” rating to an “outperform” rating and lifted their price objective for the company from $65.00 to $75.00 in a research report on Tuesday, September 24th. JPMorgan Chase & Co. upped their price target on shares of Ryan Specialty from $54.00 to $56.00 and gave the stock an “underweight” rating in a research report on Friday, August 2nd. The Goldman Sachs Group raised their price objective on shares of Ryan Specialty from $64.00 to $72.00 and gave the company a “neutral” rating in a research report on Wednesday, October 9th. UBS Group upped their target price on shares of Ryan Specialty from $67.00 to $76.00 and gave the stock a “buy” rating in a report on Tuesday, August 13th. Finally, Bank of America raised their price target on Ryan Specialty from $75.00 to $84.00 and gave the company a “buy” rating in a report on Thursday, October 10th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, Ryan Specialty currently has an average rating of “Hold” and an average target price of $71.67.

Ryan Specialty Stock Up 2.5 %

Shares of RYAN stock opened at $73.53 on Thursday. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 2.40. Ryan Specialty has a 12 month low of $41.49 and a 12 month high of $74.53. The stock has a market cap of $19.25 billion, a P/E ratio of 95.49, a P/E/G ratio of 1.63 and a beta of 0.62. The company has a 50 day simple moving average of $69.06 and a two-hundred day simple moving average of $62.58.

Ryan Specialty (NYSE:RYAN) last posted its quarterly earnings data on Wednesday, October 30th. The company reported $0.41 EPS for the quarter, hitting the consensus estimate of $0.41. The firm had revenue of $604.69 million during the quarter, compared to analyst estimates of $602.04 million. Ryan Specialty had a return on equity of 47.90% and a net margin of 10.31%. Ryan Specialty’s revenue was up 20.5% on a year-over-year basis. During the same period in the prior year, the business posted $0.32 EPS. On average, research analysts expect that Ryan Specialty will post 1.8 earnings per share for the current year.

Ryan Specialty Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 26th. Stockholders of record on Tuesday, November 12th will be given a dividend of $0.11 per share. The ex-dividend date is Tuesday, November 12th. This represents a $0.44 dividend on an annualized basis and a dividend yield of 0.60%. Ryan Specialty’s payout ratio is 57.14%.

Insider Transactions at Ryan Specialty

In related news, Director Nicholas Dominic Cortezi sold 2,325 shares of the business’s stock in a transaction on Monday, August 26th. The shares were sold at an average price of $64.60, for a total value of $150,195.00. Following the sale, the director now owns 3,463 shares in the company, valued at approximately $223,709.80. The trade was a 40.17 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Mark Stephen Katz sold 14,790 shares of the stock in a transaction on Friday, November 8th. The shares were sold at an average price of $71.39, for a total transaction of $1,055,858.10. Following the transaction, the executive vice president now owns 12,386 shares of the company’s stock, valued at $884,236.54. This trade represents a 54.42 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 22,490 shares of company stock valued at $1,553,977. 11.10% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Ryan Specialty

Large investors have recently added to or reduced their stakes in the stock. Hollencrest Capital Management bought a new stake in shares of Ryan Specialty in the 3rd quarter valued at approximately $25,000. Assetmark Inc. purchased a new stake in Ryan Specialty during the 3rd quarter valued at $34,000. GAMMA Investing LLC raised its holdings in Ryan Specialty by 96.4% during the 2nd quarter. GAMMA Investing LLC now owns 605 shares of the company’s stock valued at $35,000 after buying an additional 297 shares during the period. Crewe Advisors LLC bought a new stake in Ryan Specialty in the second quarter worth $39,000. Finally, Quarry LP boosted its stake in Ryan Specialty by 109.3% during the third quarter. Quarry LP now owns 808 shares of the company’s stock worth $54,000 after buying an additional 422 shares during the period. 84.82% of the stock is owned by 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.