UBS Group Issues Positive Forecast for Ryan Specialty (NYSE:RYAN) Stock Price

Ryan Specialty (NYSE:RYAN) had its target price upped by UBS Group from $82.00 to $84.00 in a report published on Wednesday,Benzinga reports. They currently have a buy rating on the stock.

Several other research firms have also recently issued reports on RYAN. Wells Fargo & Company upped their price target on shares of Ryan Specialty from $64.00 to $69.00 and gave the company an “equal weight” rating in a report on Friday, February 21st. Morgan Stanley started coverage on shares of Ryan Specialty in a research note on Thursday, December 5th. They issued an “overweight” rating and a $90.00 target price on the stock. Barclays lifted their price target on Ryan Specialty from $76.00 to $88.00 and gave the stock an “overweight” rating in a research note on Thursday, November 21st. Royal Bank of Canada cut their price objective on Ryan Specialty from $73.00 to $72.00 and set a “sector perform” rating on the stock in a research note on Friday, February 21st. Finally, Keefe, Bruyette & Woods decreased their target price on Ryan Specialty from $77.00 to $76.00 and set an “outperform” rating for the company in a research report on Friday, February 21st. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $75.27.

Ryan Specialty Stock Performance

NYSE:RYAN opened at $68.98 on Wednesday. Ryan Specialty has a 1-year low of $46.71 and a 1-year high of $75.97. The stock has a market cap of $18.06 billion, a P/E ratio of 99.97, a PEG ratio of 1.19 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. The firm has a 50-day moving average of $65.76 and a two-hundred day moving average of $67.35.

Ryan Specialty (NYSE:RYAN) last issued its quarterly earnings data on Thursday, February 20th. The company reported $0.45 earnings per share for the quarter, missing analysts’ consensus estimates of $0.47 by ($0.02). Ryan Specialty had a net margin of 9.14% and a return on equity of 48.01%. The business had revenue of $663.53 million for the quarter, compared to analyst estimates of $658.80 million. On average, research analysts expect that Ryan Specialty will post 2.29 earnings per share for the current fiscal year.

Ryan Specialty Increases Dividend

The company 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 0.70%. This is a positive change from Ryan Specialty’s previous quarterly dividend of $0.11. Ryan Specialty’s dividend payout ratio is currently 69.57%.

Insider Activity at Ryan Specialty

In related news, Director Nicholas Dominic Cortezi sold 10,485 shares of the firm’s stock in a transaction that occurred on Thursday, January 23rd. The stock was sold at an average price of $65.12, for a total value of $682,783.20. Following the sale, the director now directly owns 11,109 shares in the company, valued at $723,418.08. This trade represents a 48.56 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders have sold a total of 316,451 shares of company stock worth $20,907,793 in the last ninety days. 11.10% of the stock is owned by insiders.

Hedge Funds Weigh In On Ryan Specialty

Several large investors have recently bought and sold shares of the stock. Mariner LLC increased its stake in Ryan Specialty by 3.4% in the 4th quarter. Mariner LLC now owns 5,278 shares of the company’s stock worth $339,000 after purchasing an additional 172 shares in the last quarter. Sanctuary Advisors LLC lifted its position in shares of Ryan Specialty by 1.2% in the fourth quarter. Sanctuary Advisors LLC now owns 15,690 shares of the company’s stock worth $1,045,000 after purchasing an additional 188 shares in the last quarter. State of Alaska Department of Revenue boosted its holdings in shares of Ryan Specialty by 1.6% during the fourth quarter. State of Alaska Department of Revenue now owns 12,130 shares of the company’s stock worth $778,000 after purchasing an additional 190 shares during the period. CIBC Asset Management Inc grew its position in Ryan Specialty by 5.6% during the fourth quarter. CIBC Asset Management Inc now owns 3,674 shares of the company’s stock valued at $236,000 after purchasing an additional 196 shares in the last quarter. Finally, Treasurer of the State of North Carolina increased its stake in Ryan Specialty by 0.6% in the 4th quarter. Treasurer of the State of North Carolina now owns 44,990 shares of the company’s stock valued at $2,887,000 after buying an additional 280 shares during the period. Institutional investors and hedge funds 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.