Ryan Specialty (NYSE:RYAN) Price Target Lowered to $77.00 at Keefe, Bruyette & Woods

Ryan Specialty (NYSE:RYAN) had its price objective trimmed by Keefe, Bruyette & Woods from $79.00 to $77.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage currently has an outperform rating on the stock.

Several other research analysts also recently commented on the stock. BMO Capital Markets raised shares of Ryan Specialty from a “market perform” rating to an “outperform” rating and lifted their target price for the stock from $65.00 to $75.00 in a research note on Tuesday, September 24th. Morgan Stanley began coverage on shares of Ryan Specialty in a research note on Thursday, December 5th. They set an “overweight” rating and a $90.00 price objective for the company. Wells Fargo & Company raised their target price on Ryan Specialty from $63.00 to $70.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 10th. Bank of America increased their price objective on Ryan Specialty from $75.00 to $84.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. Finally, Barclays boosted their target price on Ryan Specialty from $76.00 to $88.00 and gave the company an “overweight” rating in a research note on Thursday, November 21st. One analyst has rated the stock with a sell rating, five have issued a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $75.00.

Ryan Specialty Trading Up 2.1 %

Shares of RYAN opened at $62.43 on Friday. The company has a debt-to-equity ratio of 2.40, a quick ratio of 1.01 and a current ratio of 1.01. Ryan Specialty has a fifty-two week low of $42.04 and a fifty-two week high of $75.97. The firm has a 50 day moving average price of $68.30 and a 200-day moving average price of $65.59. The firm has a market cap of $16.35 billion, a price-to-earnings ratio of 81.08, a PEG ratio of 1.52 and a beta of 0.72.

Ryan Specialty (NYSE:RYAN) last released its earnings results on Wednesday, October 30th. The company reported $0.41 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.41. Ryan Specialty had a return on equity of 47.90% and a net margin of 10.31%. The company had revenue of $604.69 million during the quarter, compared to analyst estimates of $602.04 million. During the same quarter in the previous year, the company posted $0.32 EPS. Ryan Specialty’s revenue for the quarter was up 20.5% on a year-over-year basis. As a group, equities research analysts forecast that Ryan Specialty will post 1.82 earnings per share for the current year.

Ryan Specialty Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, November 26th. Investors of record on Tuesday, November 12th were paid a $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a yield of 0.70%. The ex-dividend date was Tuesday, November 12th. Ryan Specialty’s payout ratio is 57.14%.

Insider Activity at Ryan Specialty

In other Ryan Specialty news, Director David P. Bolger sold 7,055 shares of Ryan Specialty stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $70.88, for a total value of $500,058.40. Following the completion of the sale, the director now owns 78,149 shares of the company’s stock, valued at approximately $5,539,201.12. This trade represents a 8.28 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Nicholas Dominic Cortezi sold 35,000 shares of the company’s stock in a transaction on Wednesday, December 18th. The shares were sold at an average price of $65.17, for a total value of $2,280,950.00. Following the transaction, the director now directly owns 50,400 shares in the company, valued at approximately $3,284,568. The trade was a 40.98 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 126,936 shares of company stock valued at $8,536,282. 11.10% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Principal Financial Group Inc. raised its stake in Ryan Specialty by 148.9% during the 3rd quarter. Principal Financial Group Inc. now owns 851,704 shares of the company’s stock valued at $56,545,000 after buying an additional 509,548 shares during the last quarter. Jennison Associates LLC grew its holdings in shares of Ryan Specialty by 60.2% in the third quarter. Jennison Associates LLC now owns 1,025,063 shares of the company’s stock worth $68,054,000 after acquiring an additional 385,366 shares during the period. Eagle Asset Management Inc. increased its position in Ryan Specialty by 32.1% during the third quarter. Eagle Asset Management Inc. now owns 1,380,510 shares of the company’s stock valued at $98,555,000 after acquiring an additional 335,180 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in Ryan Specialty by 43.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 938,187 shares of the company’s stock valued at $62,286,000 after acquiring an additional 286,380 shares during the period. Finally, Driehaus Capital Management LLC purchased a new position in Ryan Specialty in the second quarter worth about $16,313,000. 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.