Ryan Specialty (NYSE:RYAN) Given New $58.00 Price Target at Wells Fargo & Company

Ryan Specialty (NYSE:RYAN) had its price target lifted by Wells Fargo & Company from $57.00 to $58.00 in a research report released on Thursday morning, Benzinga reports. Wells Fargo & Company currently has an overweight rating on the stock.

Several other equities analysts also recently commented on the company. Keefe, Bruyette & Woods raised their target price on Ryan Specialty from $56.00 to $62.00 and gave the stock an outperform rating in a research report on Wednesday, April 10th. Citigroup raised their price target on Ryan Specialty from $49.00 to $52.00 and gave the company a neutral rating in a report on Wednesday, February 28th. Finally, JPMorgan Chase & Co. raised their price target on Ryan Specialty from $47.00 to $49.00 and gave the company an underweight rating in a report on Monday, April 8th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of Hold and an average target price of $54.25.

Ryan Specialty Price Performance

Shares of RYAN stock opened at $49.95 on Thursday. The stock has a 50 day moving average of $50.82 and a two-hundred day moving average of $46.81. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 1.98. Ryan Specialty has a 12 month low of $39.44 and a 12 month high of $56.51. The company has a market capitalization of $13.00 billion, a P/E ratio of 97.94 and a beta of 0.52.

Ryan Specialty (NYSE:RYAN) last posted its earnings results on Tuesday, February 27th. The company reported $0.35 EPS for the quarter, hitting the consensus estimate of $0.35. The business had revenue of $532.90 million during the quarter, compared to the consensus estimate of $524.08 million. Ryan Specialty had a return on equity of 44.84% and a net margin of 9.36%. Ryan Specialty’s revenue was up 22.5% on a year-over-year basis. During the same quarter last year, the company earned $0.27 EPS. As a group, equities analysts expect that Ryan Specialty will post 1.77 EPS for the current year.

Ryan Specialty Announces Dividend

The company also recently announced a None dividend, which was paid on Wednesday, March 27th. Stockholders of record on Wednesday, March 13th were paid a $0.34 dividend. The ex-dividend date of this dividend was Tuesday, March 12th. Ryan Specialty’s dividend payout ratio (DPR) is currently 86.28%.

Institutional Investors Weigh In On Ryan Specialty

Several hedge funds and other institutional investors have recently made changes to their positions in RYAN. Morgan Stanley increased its stake in shares of Ryan Specialty by 515.7% in the 4th quarter. Morgan Stanley now owns 2,467,647 shares of the company’s stock valued at $102,432,000 after buying an additional 2,066,855 shares during the period. Vanguard Group Inc. increased its stake in shares of Ryan Specialty by 42.3% in the 1st quarter. Vanguard Group Inc. now owns 6,747,855 shares of the company’s stock valued at $261,749,000 after buying an additional 2,006,018 shares during the period. Sumitomo Mitsui Trust Holdings Inc. acquired a new stake in shares of Ryan Specialty in the 3rd quarter valued at $58,079,000. Barclays PLC grew its stake in shares of Ryan Specialty by 34,778.9% during the second quarter. Barclays PLC now owns 1,058,576 shares of the company’s stock worth $47,519,000 after purchasing an additional 1,055,541 shares during the period. Finally, Boston Partners acquired a new stake in shares of Ryan Specialty during the third quarter worth $50,090,000. 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.