Keefe, Bruyette & Woods Cuts Ryan Specialty (NYSE:RYAN) Price Target to $75.00

Ryan Specialty (NYSE:RYAN) had its target price decreased by Keefe, Bruyette & Woods from $76.00 to $75.00 in a research report released on Wednesday morning,Benzinga reports. Keefe, Bruyette & Woods currently has an outperform rating on the stock.

RYAN has been the topic of a number of other reports. UBS Group upped their target price on shares of Ryan Specialty from $82.00 to $84.00 and gave the company a “buy” rating in a research report on Wednesday, February 26th. Wells Fargo & Company lifted their target price on shares of Ryan Specialty from $64.00 to $69.00 and gave the stock an “equal weight” rating in a report on Friday, February 21st. Finally, Royal Bank of Canada reduced their price target on Ryan Specialty from $73.00 to $72.00 and set a “sector perform” rating on the stock in a research report on Friday, February 21st. One analyst has rated the stock with a sell rating, six have issued a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $75.67.

Ryan Specialty Price Performance

RYAN opened at $72.76 on Wednesday. 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 company’s 50 day simple moving average is $70.05 and its 200-day simple moving average is $68.86. Ryan Specialty has a one year low of $48.48 and a one year high of $77.16. The stock has a market capitalization of $19.06 billion, a P/E ratio of 105.45, a price-to-earnings-growth ratio of 1.19 and a beta of 0.66.

Ryan Specialty (NYSE:RYAN) last announced its quarterly earnings data on Thursday, February 20th. The company reported $0.45 EPS for the quarter, missing analysts’ consensus estimates of $0.47 by ($0.02). The firm had revenue of $663.53 million during the quarter, compared to the consensus estimate of $658.80 million. Ryan Specialty had a net margin of 9.14% and a return on equity of 48.01%. Sell-side analysts anticipate 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 was paid on Tuesday, March 18th. Shareholders of record on Tuesday, March 4th were given a dividend of $0.12 per share. The ex-dividend date was Tuesday, March 4th. This represents a $0.48 dividend on an annualized basis and a yield of 0.66%. This is an increase from Ryan Specialty’s previous quarterly dividend of $0.11. Ryan Specialty’s dividend payout ratio is 69.57%.

Insider Activity

In other Ryan Specialty news, EVP Brendan Martin Mulshine sold 30,000 shares of the stock in a transaction on Friday, March 14th. The shares were sold at an average price of $69.30, for a total value of $2,079,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Nicholas Dominic Cortezi sold 35,000 shares of the business’s stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $65.99, for a total transaction of $2,309,650.00. Following the transaction, the director now owns 35,609 shares in the company, valued at $2,349,837.91. This represents a 49.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 241,360 shares of company stock worth $16,006,428 over the last ninety days. Insiders own 11.10% of the company’s stock.

Hedge Funds Weigh In On Ryan Specialty

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Rakuten Securities Inc. bought a new position in shares of Ryan Specialty during the 4th quarter worth approximately $27,000. Kapitalo Investimentos Ltda bought a new position in Ryan Specialty during the fourth quarter worth $36,000. Principal Securities Inc. boosted its position in Ryan Specialty by 164.7% during the fourth quarter. Principal Securities Inc. now owns 667 shares of the company’s stock worth $43,000 after purchasing an additional 415 shares during the period. Mizuho Bank Ltd. acquired a new position in shares of Ryan Specialty in the fourth quarter valued at $49,000. Finally, Headlands Technologies LLC raised its position in shares of Ryan Specialty by 2,644.8% in the fourth quarter. Headlands Technologies LLC now owns 796 shares of the company’s stock valued at $51,000 after purchasing an additional 767 shares during the period. 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.