Wells Fargo & Company Increases Ryan Specialty (NYSE:RYAN) Price Target to $63.00

Ryan Specialty (NYSE:RYAN) had its target price boosted by Wells Fargo & Company from $60.00 to $63.00 in a research note issued to investors on Friday morning, Benzinga reports. The brokerage currently has an equal weight rating on the stock.

Other analysts have also recently issued reports about the stock. UBS Group increased their target price on shares of Ryan Specialty from $63.00 to $67.00 and gave the stock a buy rating in a research note on Tuesday, July 9th. JMP Securities restated a market perform rating on shares of Ryan Specialty in a research report on Monday, April 15th. Bank of America started coverage on shares of Ryan Specialty in a research report on Wednesday, May 22nd. They set a buy rating and a $67.00 price objective on the stock. JPMorgan Chase & Co. raised their price objective on shares of Ryan Specialty from $49.00 to $54.00 and gave the company an underweight rating in a research report on Thursday, July 11th. Finally, Keefe, Bruyette & Woods restated an outperform rating and set a $62.00 price objective on shares of Ryan Specialty in a research report on Tuesday, July 2nd. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, Ryan Specialty currently has a consensus rating of Hold and a consensus price target of $61.00.

Ryan Specialty Stock Performance

RYAN traded down $0.03 on Friday, hitting $65.25. The company’s stock had a trading volume of 578,628 shares, compared to its average volume of 912,242. The company’s 50 day simple moving average is $57.39 and its 200-day simple moving average is $52.90. The firm has a market cap of $16.99 billion, a P/E ratio of 123.17, a price-to-earnings-growth ratio of 1.78 and a beta of 0.62. Ryan Specialty has a 12 month low of $41.49 and a 12 month high of $69.03. 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 (NYSE:RYAN) last released its quarterly earnings data on Thursday, August 1st. The company reported $0.58 EPS for the quarter, topping the consensus estimate of $0.56 by $0.02. Ryan Specialty had a net margin of 10.21% and a return on equity of 49.43%. The company had revenue of $695.40 million during the quarter, compared to the consensus estimate of $695.56 million. During the same period last year, the firm earned $0.45 EPS. Ryan Specialty’s revenue for the quarter was up 18.9% on a year-over-year basis. Analysts forecast that Ryan Specialty will post 1.8 EPS for the current year.

Ryan Specialty Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, August 27th. Shareholders of record on Tuesday, August 13th will be issued a $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a yield of 0.67%. The ex-dividend date of this dividend is Tuesday, August 13th. Ryan Specialty’s dividend payout ratio (DPR) is presently 83.02%.

Institutional Investors Weigh In On Ryan Specialty

A number of large investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake in shares of Ryan Specialty by 2.2% during the 4th quarter. Vanguard Group Inc. now owns 9,397,569 shares of the company’s stock valued at $404,283,000 after purchasing an additional 198,945 shares in the last quarter. Champlain Investment Partners LLC boosted its stake in shares of Ryan Specialty by 28.0% during the 1st quarter. Champlain Investment Partners LLC now owns 4,937,332 shares of the company’s stock valued at $274,022,000 after purchasing an additional 1,079,505 shares in the last quarter. Blair William & Co. IL boosted its stake in shares of Ryan Specialty by 2.6% during the 1st quarter. Blair William & Co. IL now owns 2,771,340 shares of the company’s stock valued at $153,809,000 after purchasing an additional 71,024 shares in the last quarter. Victory Capital Management Inc. boosted its stake in shares of Ryan Specialty by 8.8% during the 4th quarter. Victory Capital Management Inc. now owns 1,958,210 shares of the company’s stock valued at $84,242,000 after purchasing an additional 158,322 shares in the last quarter. Finally, Bessemer Group Inc. boosted its stake in shares of Ryan Specialty by 33.9% during the 1st quarter. Bessemer Group Inc. now owns 1,925,864 shares of the company’s stock valued at $106,886,000 after purchasing an additional 488,067 shares in the last quarter. Institutional investors 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.