Analysts Set Ryan Specialty Holdings, Inc. (NYSE:RYAN) Target Price at $73.50

Ryan Specialty Holdings, Inc. (NYSE:RYAN) has been assigned an average rating of “Hold” from the twelve brokerages that are covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, five have issued a hold rating and six have assigned a buy rating to the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $73.50.

Several equities analysts have recently commented on the company. Bank of America increased their price objective on Ryan Specialty from $75.00 to $84.00 and gave the company a “buy” rating in a research report on Thursday, October 10th. Barclays increased their price target on shares of Ryan Specialty from $76.00 to $88.00 and gave the company an “overweight” rating in a research report on Thursday, November 21st. BMO Capital Markets upgraded shares of Ryan Specialty from a “market perform” rating to an “outperform” rating and boosted their price objective for the stock from $65.00 to $75.00 in a report on Tuesday, September 24th. Morgan Stanley began coverage on shares of Ryan Specialty in a report on Thursday, December 5th. They set an “overweight” rating and a $90.00 target price on the stock. Finally, Wells Fargo & Company boosted their price target on shares of Ryan Specialty from $63.00 to $70.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 10th.

Insider Buying and Selling at Ryan Specialty

In related news, Director Nicholas Dominic Cortezi sold 35,000 shares of the business’s stock in a transaction dated Wednesday, December 18th. The shares were sold at an average price of $65.17, for a total transaction of $2,280,950.00. Following the transaction, the director now owns 50,400 shares in the company, valued at $3,284,568. The trade was a 40.98 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Mark Stephen Katz sold 14,790 shares of the firm’s stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $71.39, for a total transaction of $1,055,858.10. Following the completion of the sale, the executive vice president now owns 12,386 shares of the company’s stock, valued at $884,236.54. This trade represents a 54.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 126,936 shares of company stock valued at $8,536,282 in the last 90 days. Insiders own 11.10% of the company’s stock.

Institutional Investors Weigh In On Ryan Specialty

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Hollencrest Capital Management purchased a new stake in Ryan Specialty in the third quarter worth about $25,000. Assetmark Inc. purchased a new stake in shares of Ryan Specialty in the 3rd quarter worth approximately $34,000. Crewe Advisors LLC bought a new position in Ryan Specialty during the 2nd quarter valued at approximately $39,000. Quarry LP increased its position in Ryan Specialty by 109.3% during the 3rd quarter. Quarry LP now owns 808 shares of the company’s stock valued at $54,000 after buying an additional 422 shares in the last quarter. Finally, GAMMA Investing LLC raised its stake in Ryan Specialty by 106.4% during the third quarter. GAMMA Investing LLC now owns 1,249 shares of the company’s stock valued at $83,000 after buying an additional 644 shares during the last quarter. 84.82% of the stock is owned by hedge funds and other institutional investors.

Ryan Specialty Trading Down 0.4 %

Shares of Ryan Specialty stock opened at $63.72 on Tuesday. The company has a 50 day simple moving average of $69.55 and a two-hundred day simple moving average of $65.23. The firm has a market cap of $16.68 billion, a PE ratio of 82.75, a PEG ratio of 1.52 and a beta of 0.67. Ryan Specialty has a 1 year low of $41.65 and a 1 year high of $75.97. The company has a debt-to-equity ratio of 2.40, a current ratio of 1.01 and a quick ratio of 1.01.

Ryan Specialty (NYSE:RYAN) last posted its quarterly earnings data on Wednesday, October 30th. The company reported $0.41 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.41. The company had revenue of $604.69 million during the quarter, compared to the consensus estimate of $602.04 million. Ryan Specialty had a net margin of 10.31% and a return on equity of 47.90%. The firm’s revenue was up 20.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.32 EPS. Analysts expect that Ryan Specialty will post 1.82 earnings per share for the current fiscal year.

Ryan Specialty Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, November 26th. Investors of record on Tuesday, November 12th were paid a $0.11 dividend. The ex-dividend date of this dividend was Tuesday, November 12th. This represents a $0.44 annualized dividend and a dividend yield of 0.69%. Ryan Specialty’s payout ratio is presently 57.14%.

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.