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

Ryan Specialty (NYSE:RYAN) had its price target upped by Barclays from $76.00 to $88.00 in a research report report published on Thursday morning,Benzinga reports. They currently have an overweight rating on the stock.

A number of other research analysts have also commented on the company. UBS Group upped their price target on Ryan Specialty from $67.00 to $76.00 and gave the stock a “buy” rating in a report on Tuesday, August 13th. JPMorgan Chase & Co. upped their price target on Ryan Specialty from $54.00 to $56.00 and gave the stock an “underweight” rating in a report on Friday, August 2nd. Bank of America upped their price target on Ryan Specialty from $75.00 to $84.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. Wells Fargo & Company boosted their price objective on Ryan Specialty from $63.00 to $70.00 and gave the company an “equal weight” rating in a research report on Thursday, October 10th. Finally, BMO Capital Markets upgraded Ryan Specialty from a “market perform” rating to an “outperform” rating and boosted their price objective for the company from $65.00 to $75.00 in a research report on Tuesday, September 24th. One research analyst has rated the stock with a sell rating, five have given a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $71.67.

Ryan Specialty Stock Up 2.5 %

Shares of Ryan Specialty stock opened at $73.53 on Thursday. The firm has a market cap of $19.25 billion, a price-to-earnings ratio of 95.49, a P/E/G ratio of 1.63 and a beta of 0.62. 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 has a 52-week low of $41.49 and a 52-week high of $74.53. The stock has a 50-day simple moving average of $69.06 and a 200-day simple moving average of $62.65.

Ryan Specialty (NYSE:RYAN) last announced its quarterly earnings results on Wednesday, October 30th. The company reported $0.41 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.41. Ryan Specialty had a return on equity of 47.90% and a net margin of 10.31%. The business had revenue of $604.69 million during the quarter, compared to analyst estimates of $602.04 million. During the same period in the previous year, the company earned $0.32 EPS. The firm’s revenue was up 20.5% on a year-over-year basis. On average, equities research analysts expect that Ryan Specialty will post 1.8 earnings per share for the current fiscal year.

Ryan Specialty Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 26th. Shareholders of record on Tuesday, November 12th will be paid a $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a yield of 0.60%. The ex-dividend date is Tuesday, November 12th. Ryan Specialty’s dividend payout ratio is currently 57.14%.

Insiders Place Their Bets

In other Ryan Specialty news, Director Nicholas Dominic Cortezi sold 5,375 shares of the business’s stock in a transaction 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 owns 2,685 shares of the company’s stock, valued at approximately $173,800.05. The trade was a 66.69 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Mark Stephen Katz sold 14,790 shares of the business’s 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 transaction, the executive vice president now directly owns 12,386 shares in the company, valued at approximately $884,236.54. This represents a 54.42 % decrease in their position. The disclosure for this sale can be found here. Insiders own 11.10% of the company’s stock.

Hedge Funds Weigh In On Ryan Specialty

Several large investors have recently made changes to their positions in the company. Signaturefd LLC lifted its stake in shares of Ryan Specialty by 12.3% during the third quarter. Signaturefd LLC now owns 1,347 shares of the company’s stock valued at $89,000 after acquiring an additional 148 shares during the period. UMB Bank n.a. lifted its stake in shares of Ryan Specialty by 5.2% during the third quarter. UMB Bank n.a. now owns 5,224 shares of the company’s stock valued at $347,000 after acquiring an additional 256 shares during the period. Loomis Sayles & Co. L P lifted its stake in shares of Ryan Specialty by 26.3% during the third quarter. Loomis Sayles & Co. L P now owns 1,373 shares of the company’s stock valued at $91,000 after acquiring an additional 286 shares during the period. GAMMA Investing LLC lifted its stake in Ryan Specialty by 96.4% in the second quarter. GAMMA Investing LLC now owns 605 shares of the company’s stock valued at $35,000 after buying an additional 297 shares during the period. Finally, Hollencrest Capital Management acquired a new position in Ryan Specialty in the third quarter valued at about $25,000. Institutional investors and hedge funds own 84.82% of the company’s stock.

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.