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

Ryan Specialty (NYSE:RYAN) had its target price trimmed by Keefe, Bruyette & Woods from $79.00 to $77.00 in a report published on Friday,Benzinga reports. The firm currently has an outperform rating on the stock.

A number of other brokerages have also recently commented on RYAN. BMO Capital Markets raised shares of Ryan Specialty from a “market perform” rating to an “outperform” rating and increased their price objective for the company from $65.00 to $75.00 in a research note on Tuesday, September 24th. Wells Fargo & Company increased their price objective on shares of Ryan Specialty from $63.00 to $70.00 and gave the company an “equal weight” rating in a research note on Thursday, October 10th. The Goldman Sachs Group increased their price objective on shares of Ryan Specialty from $64.00 to $72.00 and gave the company a “neutral” rating in a research note on Wednesday, October 9th. Bank of America increased their price objective on shares of Ryan Specialty from $75.00 to $84.00 and gave the company a “buy” rating in a research note on Thursday, October 10th. Finally, Barclays increased their price objective on shares of Ryan Specialty from $76.00 to $88.00 and gave the company an “overweight” rating in a research note on Thursday, November 21st. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $75.00.

Ryan Specialty Stock Up 2.1 %

RYAN stock opened at $62.43 on Friday. The company has a fifty day moving average price of $68.30 and a 200 day moving average price of $65.69. Ryan Specialty has a 12 month low of $42.04 and a 12 month high of $75.97. The company has a market cap of $16.35 billion, a price-to-earnings ratio of 81.08, a price-to-earnings-growth ratio of 1.52 and a beta of 0.72. The company has a debt-to-equity ratio of 2.40, a current ratio of 1.01 and a quick ratio of 1.01.

Ryan Specialty (NYSE:RYAN) last announced its quarterly earnings data on Wednesday, October 30th. The company reported $0.41 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.41. The company had revenue of $604.69 million for the quarter, compared to analysts’ expectations of $602.04 million. Ryan Specialty had a net margin of 10.31% and a return on equity of 47.90%. Ryan Specialty’s revenue was up 20.5% compared to the same quarter last year. During the same period in the previous year, the company posted $0.32 EPS. Sell-side analysts expect that Ryan Specialty will post 1.82 earnings per share for the current year.

Ryan Specialty Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, November 26th. Investors of record on Tuesday, November 12th were paid a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a yield of 0.70%. The ex-dividend date of this dividend was Tuesday, November 12th. Ryan Specialty’s dividend payout ratio (DPR) is presently 57.14%.

Insider Buying and Selling

In related news, EVP Mark Stephen Katz sold 14,790 shares of Ryan Specialty stock in a transaction dated 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 sale, the executive vice president now directly owns 12,386 shares in the company, valued at $884,236.54. The trade was a 54.42 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director David P. Bolger sold 7,055 shares of Ryan Specialty stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $70.88, for a total transaction of $500,058.40. Following the sale, the director now owns 78,149 shares in the company, valued at approximately $5,539,201.12. This represents a 8.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 126,936 shares of company stock worth $8,536,282 over the last ninety days. 11.10% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Xponance Inc. lifted its stake in Ryan Specialty by 67.2% during the second quarter. Xponance Inc. now owns 20,686 shares of the company’s stock valued at $1,198,000 after buying an additional 8,312 shares in the last quarter. Jennison Associates LLC raised its holdings in shares of Ryan Specialty by 60.2% during the third quarter. Jennison Associates LLC now owns 1,025,063 shares of the company’s stock valued at $68,054,000 after acquiring an additional 385,366 shares during the period. Geneva Partners LLC purchased a new stake in shares of Ryan Specialty in the 3rd quarter valued at approximately $2,537,000. Barclays PLC boosted its stake in Ryan Specialty by 1.1% in the 3rd 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 during the period. Finally, Susquehanna Fundamental Investments LLC grew its position in Ryan Specialty by 2,354.0% during the 2nd quarter. Susquehanna Fundamental Investments LLC now owns 100,614 shares of the company’s stock worth $5,827,000 after purchasing an additional 96,514 shares in the last quarter. 84.82% of the stock is 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.