Ryan Specialty (NYSE:RYAN) Rating Increased to Outperform at BMO Capital Markets

BMO Capital Markets upgraded shares of Ryan Specialty (NYSE:RYAN) from a market perform rating to an outperform rating in a research report report published on Tuesday, MarketBeat.com reports. BMO Capital Markets currently has $75.00 price objective on the stock, up from their previous price objective of $65.00.

A number of other analysts have also recently issued reports on the company. The Goldman Sachs Group lifted their price objective on Ryan Specialty from $58.00 to $64.00 and gave the company a neutral rating in a research report on Monday, August 5th. UBS Group lifted their price objective on Ryan Specialty from $67.00 to $76.00 and gave the company a buy rating in a research report on Tuesday, August 13th. JPMorgan Chase & Co. lifted their price objective on Ryan Specialty from $54.00 to $56.00 and gave the company an underweight rating in a research report on Friday, August 2nd. Keefe, Bruyette & Woods reissued an outperform rating and set a $62.00 price objective on shares of Ryan Specialty in a research report on Tuesday, July 2nd. Finally, Barclays assumed coverage on Ryan Specialty in a report on Wednesday, September 4th. They set an overweight rating and a $76.00 target price on the stock. One analyst has rated the stock with a sell rating, five have assigned a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of Hold and an average price target of $66.78.

Ryan Specialty Stock Performance

Shares of Ryan Specialty stock opened at $66.19 on Tuesday. The stock has a market cap of $17.31 billion, a PE ratio of 124.89, a price-to-earnings-growth ratio of 1.52 and a beta of 0.62. The business has a fifty day simple moving average of $63.68 and a 200-day simple moving average of $57.56. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 1.81. Ryan Specialty has a 12 month low of $41.49 and a 12 month high of $69.03.

Ryan Specialty (NYSE:RYAN) last released its quarterly earnings data on Thursday, August 1st. The company reported $0.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.56 by $0.02. The firm had revenue of $695.40 million during the quarter, compared to analysts’ expectations of $695.56 million. Ryan Specialty had a return on equity of 48.08% and a net margin of 10.21%. The business’s revenue for the quarter was up 18.9% on a year-over-year basis. During the same quarter last year, the firm earned $0.45 earnings per share. On average, sell-side analysts anticipate that Ryan Specialty will post 1.81 EPS for the current fiscal year.

Ryan Specialty Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, August 27th. Shareholders of record on Tuesday, August 13th were issued a dividend of $0.11 per share. The ex-dividend date of this dividend was Tuesday, August 13th. This represents a $0.44 annualized dividend and a yield of 0.66%. Ryan Specialty’s dividend payout ratio (DPR) is currently 83.02%.

Insider Transactions at Ryan Specialty

In related news, President Timothy William Turner sold 2,000,000 shares of the business’s stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $62.45, for a total transaction of $124,900,000.00. Following the completion of the transaction, the president now owns 8,095 shares of the company’s stock, valued at approximately $505,532.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, President Timothy William Turner sold 2,000,000 shares of the business’s stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $62.45, for a total transaction of $124,900,000.00. Following the completion of the transaction, the president now owns 8,095 shares of the company’s stock, valued at approximately $505,532.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Nicholas Dominic Cortezi sold 5,375 shares of the business’s stock in a transaction dated 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. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 2,107,136 shares of company stock worth $131,860,032. Company insiders own 11.10% of the company’s stock.

Hedge Funds Weigh In On Ryan Specialty

Several large investors have recently added to or reduced their stakes in RYAN. Champlain Investment Partners LLC raised its holdings in Ryan Specialty by 28.0% in the 1st quarter. Champlain Investment Partners LLC now owns 4,937,332 shares of the company’s stock valued at $274,022,000 after acquiring an additional 1,079,505 shares in the last quarter. Norden Group LLC raised its holdings in Ryan Specialty by 2,138.1% in the 1st quarter. Norden Group LLC now owns 778,848 shares of the company’s stock valued at $43,226,000 after acquiring an additional 744,049 shares in the last quarter. Bessemer Group Inc. raised its holdings in Ryan Specialty by 33.9% in the 1st quarter. Bessemer Group Inc. now owns 1,925,864 shares of the company’s stock valued at $106,886,000 after acquiring an additional 488,067 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in Ryan Specialty by 132.2% in the 2nd quarter. Bank of New York Mellon Corp now owns 836,209 shares of the company’s stock valued at $48,425,000 after acquiring an additional 476,126 shares in the last quarter. Finally, Norges Bank acquired a new position in Ryan Specialty in the 4th quarter valued at approximately $16,964,000. 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.