Ryan Specialty (NYSE:RYAN) Price Target Raised to $88.00

Ryan Specialty (NYSE:RYAN) had its price objective lifted by Barclays from $76.00 to $88.00 in a report issued on Thursday,Benzinga reports. The brokerage currently has an overweight rating on the stock.

RYAN has been the topic of several other research reports. The Goldman Sachs Group lifted their price target on shares of Ryan Specialty from $64.00 to $72.00 and gave the company a “neutral” rating in a report on Wednesday, October 9th. Wells Fargo & Company lifted their target price 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. Bank of America increased their price target on shares of Ryan Specialty from $75.00 to $84.00 and gave the stock a “buy” rating in a research note on Thursday, October 10th. BMO Capital Markets raised Ryan Specialty from a “market perform” rating to an “outperform” rating and lifted their price objective for the company from $65.00 to $75.00 in a research report on Tuesday, September 24th. Finally, JPMorgan Chase & Co. increased their target price on Ryan Specialty from $54.00 to $56.00 and gave the stock an “underweight” rating in a research report on Friday, August 2nd. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $71.67.

Ryan Specialty Price Performance

RYAN stock opened at $73.53 on Thursday. 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 firm’s 50-day moving average price is $69.06 and its two-hundred day moving average price is $62.58. The stock has a market capitalization of $19.25 billion, a price-to-earnings ratio of 95.49, a PEG ratio of 1.63 and a beta of 0.62. Ryan Specialty has a 12-month low of $41.49 and a 12-month high of $74.53.

Ryan Specialty (NYSE:RYAN) last released its quarterly earnings results on Wednesday, October 30th. The company reported $0.41 EPS for the quarter, meeting analysts’ consensus estimates of $0.41. The business had revenue of $604.69 million during the quarter, compared to analyst estimates of $602.04 million. Ryan Specialty had a return on equity of 47.90% and a net margin of 10.31%. Ryan Specialty’s quarterly revenue was up 20.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.32 EPS. As a group, equities analysts predict that Ryan Specialty will post 1.8 earnings per share for the current year.

Ryan Specialty Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, November 26th. Shareholders of record on Tuesday, November 12th will be issued a $0.11 dividend. This represents a $0.44 annualized dividend and a yield of 0.60%. The ex-dividend date is Tuesday, November 12th. Ryan Specialty’s dividend payout ratio (DPR) is 57.14%.

Insider Transactions at Ryan Specialty

In related news, Director Nicholas Dominic Cortezi sold 5,375 shares of the company’s stock in a transaction that occurred on Wednesday, August 28th. The stock was sold at an average price of $64.73, for a total value of $347,923.75. Following the transaction, the director now directly owns 2,685 shares of the company’s stock, valued at approximately $173,800.05. This represents a 66.69 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Mark Stephen Katz sold 14,790 shares of Ryan Specialty stock in a transaction on Friday, November 8th. The stock was sold at an average price of $71.39, for a total value of $1,055,858.10. Following the completion of the sale, the executive vice president now directly owns 12,386 shares of the company’s stock, valued at approximately $884,236.54. The trade was a 54.42 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 22,490 shares of company stock valued at $1,553,977. Insiders own 11.10% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Hollencrest Capital Management purchased a new position in Ryan Specialty in the 3rd quarter worth about $25,000. Assetmark Inc. purchased a new position in shares of Ryan Specialty during the third quarter valued at approximately $34,000. GAMMA Investing LLC lifted its position in Ryan Specialty by 96.4% during the second quarter. GAMMA Investing LLC now owns 605 shares of the company’s stock valued at $35,000 after purchasing an additional 297 shares during the period. Crewe Advisors LLC purchased a new stake in Ryan Specialty in the second quarter worth approximately $39,000. Finally, Quarry LP boosted its holdings in Ryan Specialty by 109.3% in the third quarter. Quarry LP now owns 808 shares of the company’s stock worth $54,000 after purchasing an additional 422 shares during the last quarter. 84.82% of the stock is owned by institutional investors.

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.