Royal Bank of Canada Cuts Ryan Specialty (NYSE:RYAN) Price Target to $72.00

Ryan Specialty (NYSE:RYAN) had its price target decreased by Royal Bank of Canada from $73.00 to $72.00 in a research report released on Friday,Benzinga reports. Royal Bank of Canada currently has a sector perform rating on the stock.

Other equities research analysts also recently issued research reports about the stock. Barclays raised their price target on shares of Ryan Specialty from $76.00 to $88.00 and gave the company an “overweight” rating in a research report on Thursday, November 21st. Morgan Stanley assumed coverage on Ryan Specialty in a report on Thursday, December 5th. They issued an “overweight” rating and a $90.00 target price for the company. Keefe, Bruyette & Woods lowered their price target on Ryan Specialty from $77.00 to $76.00 and set an “outperform” rating on the stock in a report on Friday. Finally, Wells Fargo & Company lifted their price objective on Ryan Specialty from $64.00 to $69.00 and gave the stock an “equal weight” rating in a report on Friday. One investment analyst has rated the stock with a sell rating, six have given a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $74.55.

Ryan Specialty Trading Down 4.4 %

NYSE RYAN opened at $65.55 on Friday. The stock’s fifty day moving average price is $65.57 and its 200-day moving average price is $67.29. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 2.40. The stock has a market cap of $17.16 billion, a P/E ratio of 95.00, a P/E/G ratio of 1.19 and a beta of 0.72. Ryan Specialty has a 12 month low of $45.72 and a 12 month high of $75.97.

Ryan Specialty (NYSE:RYAN) last announced its quarterly earnings data on Thursday, February 20th. The company reported $0.45 EPS for the quarter, missing the consensus estimate of $0.47 by ($0.02). The firm had revenue of $663.53 million for the quarter, compared to analysts’ expectations of $658.80 million. Ryan Specialty had a net margin of 9.14% and a return on equity of 48.01%. As a group, equities analysts forecast that Ryan Specialty will post 2.29 EPS for the current fiscal year.

Ryan Specialty Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 18th. Stockholders of record on Tuesday, March 4th will be given a dividend of $0.12 per share. The ex-dividend date of this dividend is Tuesday, March 4th. This represents a $0.48 annualized dividend and a dividend yield of 0.73%. This is a positive change from Ryan Specialty’s previous quarterly dividend of $0.11. Ryan Specialty’s dividend payout ratio is presently 63.77%.

Insider Transactions at Ryan Specialty

In other news, Director Nicholas Dominic Cortezi sold 35,000 shares of the company’s stock in a transaction on Monday, December 16th. The stock was sold at an average price of $66.71, for a total value of $2,334,850.00. Following the completion of the sale, the director now directly owns 60,200 shares in the company, valued at $4,015,942. This represents a 36.76 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Insiders have sold 316,451 shares of company stock worth $20,907,793 in the last quarter. Company insiders own 11.10% of the company’s stock.

Institutional Trading of Ryan Specialty

Several hedge funds have recently bought and sold shares of RYAN. Jennison Associates LLC lifted its position in shares of Ryan Specialty by 60.2% during the 3rd quarter. Jennison Associates LLC now owns 1,025,063 shares of the company’s stock valued at $68,054,000 after buying an additional 385,366 shares in the last quarter. JPMorgan Chase & Co. raised its stake in Ryan Specialty by 107.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 459,464 shares of the company’s stock worth $30,504,000 after acquiring an additional 238,064 shares during the period. Geneva Partners LLC bought a new stake in Ryan Specialty during the 3rd quarter worth approximately $2,537,000. Bar Harbor Wealth Management boosted its position in shares of Ryan Specialty by 5.9% in the fourth quarter. Bar Harbor Wealth Management now owns 168,871 shares of the company’s stock worth $10,835,000 after purchasing an additional 9,482 shares during the period. Finally, Barclays PLC increased its stake in shares of Ryan Specialty by 1.1% in the third quarter. Barclays PLC now owns 1,641,743 shares of the company’s stock worth $108,994,000 after purchasing an additional 17,267 shares in the last quarter. Institutional investors own 84.82% of the company’s stock.

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.