Ryan Specialty (NYSE:RYAN) Price Target Raised to $88.00 at Barclays

Ryan Specialty (NYSE:RYAN) had its price objective 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 also recently weighed in on the company. UBS Group raised their price target on Ryan Specialty from $67.00 to $76.00 and gave the company a “buy” rating in a research note on Tuesday, August 13th. JPMorgan Chase & Co. raised their price target on Ryan Specialty from $54.00 to $56.00 and gave the company an “underweight” rating in a research note on Friday, August 2nd. BMO Capital Markets upgraded Ryan Specialty from a “market perform” rating to an “outperform” rating and raised their price target for the company from $65.00 to $75.00 in a research note on Tuesday, September 24th. Wells Fargo & Company raised their price target on Ryan Specialty from $63.00 to $70.00 and gave the company an “equal weight” rating in a research note on Thursday, October 10th. 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 research note on Thursday, October 10th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, Ryan Specialty currently has a consensus rating of “Hold” and a consensus price target of $71.67.

Ryan Specialty Stock Up 2.5 %

NYSE:RYAN opened at $73.53 on Thursday. The company has a debt-to-equity ratio of 2.40, a quick ratio of 1.01 and a current ratio of 1.01. The company has a market cap of $19.25 billion, a PE ratio of 95.49, a PEG ratio of 1.63 and a beta of 0.62. Ryan Specialty has a 52-week low of $41.49 and a 52-week high of $74.53. The stock has a 50-day simple moving average of $69.06 and a 200 day simple moving average of $62.65.

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

Ryan Specialty Announces Dividend

The firm 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 $0.11 dividend. The ex-dividend date of this dividend 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 Activity

In related news, Director Nicholas Dominic Cortezi sold 5,375 shares of Ryan Specialty stock in a transaction that occurred on Wednesday, August 28th. The stock was sold at an average price of $64.73, for a total transaction of $347,923.75. Following the completion of the sale, the director now directly owns 2,685 shares of the company’s stock, valued at approximately $173,800.05. This trade represents a 66.69 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Mark Stephen Katz sold 14,790 shares of Ryan Specialty stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $71.39, for a total value of $1,055,858.10. Following the sale, the executive vice president now directly owns 12,386 shares of the company’s stock, valued at approximately $884,236.54. The trade was a 54.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 11.10% of the company’s stock.

Hedge Funds Weigh In On Ryan Specialty

A number of hedge funds have recently added to or reduced their stakes in the stock. Signaturefd LLC increased its stake in Ryan Specialty by 12.3% during the 3rd quarter. Signaturefd LLC now owns 1,347 shares of the company’s stock worth $89,000 after acquiring an additional 148 shares during the period. UMB Bank n.a. increased its stake in Ryan Specialty by 5.2% during the 3rd quarter. UMB Bank n.a. now owns 5,224 shares of the company’s stock worth $347,000 after acquiring an additional 256 shares during the period. Loomis Sayles & Co. L P increased its stake in Ryan Specialty by 26.3% during the 3rd quarter. Loomis Sayles & Co. L P now owns 1,373 shares of the company’s stock worth $91,000 after acquiring an additional 286 shares during the period. GAMMA Investing LLC increased its stake in Ryan Specialty by 96.4% during the 2nd quarter. GAMMA Investing LLC now owns 605 shares of the company’s stock worth $35,000 after acquiring an additional 297 shares during the period. Finally, Hollencrest Capital Management bought a new position in Ryan Specialty during the 3rd quarter worth $25,000. 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.