Ryan Specialty (NYSE:RYAN) Given New $76.00 Price Target at Keefe, Bruyette & Woods

Ryan Specialty (NYSE:RYAN) had its price target cut by Keefe, Bruyette & Woods from $77.00 to $76.00 in a research report sent to investors on Friday morning,Benzinga reports. They currently have an outperform rating on the stock.

RYAN has been the subject of several other reports. Barclays boosted their price objective on Ryan Specialty from $76.00 to $88.00 and gave the stock an “overweight” rating in a report on Thursday, November 21st. Wells Fargo & Company dropped their price target on shares of Ryan Specialty from $68.00 to $64.00 and set an “equal weight” rating for the company in a research note on Tuesday, January 14th. Finally, 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 price objective on the stock. One research analyst has rated the stock with a sell rating, six have given a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $74.55.

Ryan Specialty Stock Performance

Shares of Ryan Specialty stock opened at $65.55 on Friday. 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 simple moving average of $65.57 and a 200 day simple moving average of $67.26. Ryan Specialty has a fifty-two week low of $45.72 and a fifty-two week high of $75.97. The firm has a market cap of $17.16 billion, a P/E ratio of 85.13, a P/E/G ratio of 1.21 and a beta of 0.72.

Ryan Specialty (NYSE:RYAN) last released its earnings results on Thursday, February 20th. The company reported $0.45 EPS for the quarter, missing the consensus estimate of $0.47 by ($0.02). The firm had revenue of $663.53 million during the quarter, compared to analyst estimates of $658.80 million. Ryan Specialty had a net margin of 10.31% and a return on equity of 47.90%. Sell-side analysts predict that Ryan Specialty will post 1.82 earnings per share for the current fiscal year.

Ryan Specialty Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 18th. Shareholders of record on Tuesday, March 4th will be paid a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 0.73%. This is a boost from Ryan Specialty’s previous quarterly dividend of $0.11. The ex-dividend date of this dividend is Tuesday, March 4th. Ryan Specialty’s payout ratio is presently 63.77%.

Insiders Place Their Bets

In other Ryan Specialty news, Director Nicholas Dominic Cortezi sold 35,000 shares of Ryan Specialty stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $66.71, for a total value of $2,334,850.00. Following the transaction, the director now owns 60,200 shares of the company’s stock, valued at approximately $4,015,942. The trade was a 36.76 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Insiders sold 316,451 shares of company stock worth $20,907,793 over the last ninety days. 11.10% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Ryan Specialty

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Jennison Associates LLC increased its holdings in Ryan Specialty by 60.2% during the 3rd quarter. Jennison Associates LLC now owns 1,025,063 shares of the company’s stock worth $68,054,000 after purchasing an additional 385,366 shares in the last quarter. JPMorgan Chase & Co. boosted its position in shares of Ryan Specialty by 107.5% during the third quarter. JPMorgan Chase & Co. now owns 459,464 shares of the company’s stock worth $30,504,000 after buying an additional 238,064 shares during the period. Geneva Partners LLC acquired a new position in shares of Ryan Specialty during the third quarter worth about $2,537,000. Bar Harbor Wealth Management grew its holdings in shares of Ryan Specialty by 5.9% during the fourth quarter. Bar Harbor Wealth Management now owns 168,871 shares of the company’s stock worth $10,835,000 after buying an additional 9,482 shares in the last quarter. Finally, Barclays PLC raised its position in Ryan Specialty by 1.1% in the 3rd quarter. Barclays PLC now owns 1,641,743 shares of the company’s stock valued at $108,994,000 after buying an additional 17,267 shares during the last quarter. 84.82% of the stock is currently owned by institutional investors and hedge funds.

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.