Brokerages Set Ryan Specialty Holdings, Inc. (NYSE:RYAN) Price Target at $55.67

Shares of Ryan Specialty Holdings, Inc. (NYSE:RYAN) have been given an average rating of “Hold” by the ten research firms that are presently covering the company, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, five have assigned a hold recommendation and four have given a buy recommendation to the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $55.67.

A number of brokerages have commented on RYAN. JMP Securities restated a “market perform” rating on shares of Ryan Specialty in a research note on Monday, April 15th. JPMorgan Chase & Co. lifted their target price on Ryan Specialty from $47.00 to $49.00 and gave the company an “underweight” rating in a research note on Monday, April 8th. Wolfe Research downgraded Ryan Specialty from an “outperform” rating to a “peer perform” rating in a research note on Monday, May 6th. Wells Fargo & Company lifted their target price on Ryan Specialty from $57.00 to $58.00 and gave the company an “overweight” rating in a research note on Thursday, April 11th. Finally, Bank of America began coverage on Ryan Specialty in a research note on Wednesday, May 22nd. They issued a “buy” rating and a $67.00 target price for the company.

Ryan Specialty Stock Up 0.2 %

Shares of Ryan Specialty stock opened at $57.46 on Tuesday. The company has a quick ratio of 1.15, a current ratio of 1.15 and a debt-to-equity ratio of 1.99. The firm has a market cap of $14.97 billion, a P/E ratio of 108.42, a P/E/G ratio of 1.49 and a beta of 0.62. Ryan Specialty has a fifty-two week low of $41.49 and a fifty-two week high of $61.29. The business has a 50-day moving average price of $54.53 and a 200 day moving average price of $50.18.

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

Ryan Specialty Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, May 28th. Stockholders of record on Tuesday, May 14th were given a dividend of $0.11 per share. The ex-dividend date of this dividend was Monday, May 13th. This represents a $0.44 annualized dividend and a dividend yield of 0.77%. Ryan Specialty’s dividend payout ratio is presently 83.02%.

Hedge Funds Weigh In On Ryan Specialty

Several hedge funds and other institutional investors have recently made changes to their positions in RYAN. American Century Companies Inc. raised its holdings in Ryan Specialty by 17.7% during the third quarter. American Century Companies Inc. now owns 1,624,944 shares of the company’s stock worth $78,647,000 after purchasing an additional 244,490 shares in the last quarter. Nebula Research & Development LLC bought a new stake in Ryan Specialty during the fourth quarter worth approximately $1,284,000. Seven Eight Capital LP bought a new stake in Ryan Specialty during the fourth quarter worth approximately $1,075,000. Jacobs Levy Equity Management Inc. raised its holdings in Ryan Specialty by 26.9% during the third quarter. Jacobs Levy Equity Management Inc. now owns 1,159,648 shares of the company’s stock worth $56,127,000 after purchasing an additional 245,827 shares in the last quarter. Finally, Diversified Trust Co raised its holdings in Ryan Specialty by 12.3% during the third quarter. Diversified Trust Co now owns 11,832 shares of the company’s stock worth $573,000 after purchasing an additional 1,300 shares in the last quarter. 84.82% of the stock is currently 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.