Citigroup Increases Ryan Specialty (NYSE:RYAN) Price Target to $62.00

Ryan Specialty (NYSE:RYAN) had its price objective lifted by Citigroup from $56.00 to $62.00 in a research report released on Tuesday, Benzinga reports. The firm currently has a neutral rating on the stock.

Other equities analysts also recently issued reports about the company. Keefe, Bruyette & Woods reiterated an outperform rating and issued a $62.00 target price on shares of Ryan Specialty in a research report on Tuesday, July 2nd. JMP Securities reissued a market perform rating on shares of Ryan Specialty in a research note on Monday, April 15th. Wolfe Research cut Ryan Specialty from an outperform rating to a peer perform rating in a research note on Monday, May 6th. UBS Group increased their price target on Ryan Specialty from $63.00 to $67.00 and gave the company a buy rating in a research note on Tuesday, July 9th. Finally, Wells Fargo & Company cut Ryan Specialty from an overweight rating to an equal weight rating and increased their price target for the company from $58.00 to $60.00 in a research note on Thursday, July 11th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of Hold and a consensus price target of $58.50.

Ryan Specialty Price Performance

Shares of RYAN stock opened at $60.61 on Tuesday. The company has a quick ratio of 1.15, a current ratio of 1.15 and a debt-to-equity ratio of 1.99. Ryan Specialty has a twelve month low of $41.49 and a twelve month high of $61.29. The company has a market cap of $15.79 billion, a P/E ratio of 114.36, a P/E/G ratio of 1.52 and a beta of 0.62. The business has a fifty day simple moving average of $56.36 and a 200 day simple moving average of $51.90.

Ryan Specialty (NYSE:RYAN) last posted its earnings results on Thursday, May 2nd. The company reported $0.35 EPS for the quarter, meeting the consensus estimate of $0.35. The firm had revenue of $552.00 million during the quarter, compared to the consensus estimate of $549.06 million. Ryan Specialty had a return on equity of 45.87% and a net margin of 9.15%. The business’s quarterly revenue was up 20.6% on a year-over-year basis. During the same period last year, the company earned $0.26 earnings per share. On average, sell-side analysts forecast that Ryan Specialty will post 1.77 EPS for the current fiscal year.

Ryan Specialty Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, May 28th. Stockholders of record on Tuesday, May 14th were issued a $0.11 dividend. The ex-dividend date was Monday, May 13th. This represents a $0.44 dividend on an annualized basis and a dividend yield of 0.73%. Ryan Specialty’s dividend payout ratio is presently 83.02%.

Institutional Trading of Ryan Specialty

A number of hedge funds have recently bought and sold shares of the business. GAMMA Investing LLC raised its stake in shares of 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. Intelligent Financial Strategies bought a new stake in shares of Ryan Specialty in the first quarter valued at $44,000. Benjamin F. Edwards & Company Inc. bought a new stake in shares of Ryan Specialty in the first quarter valued at $45,000. Parkside Financial Bank & Trust raised its stake in shares of Ryan Specialty by 1,283.6% in the fourth quarter. Parkside Financial Bank & Trust now owns 1,010 shares of the company’s stock valued at $43,000 after buying an additional 937 shares during the period. Finally, Kapitalo Investimentos Ltda bought a new stake in shares of Ryan Specialty in the fourth quarter valued at $106,000. 84.82% of the stock is currently owned by institutional investors.

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.