The Goldman Sachs Group Raises Ryan Specialty (NYSE:RYAN) Price Target to $64.00

Ryan Specialty (NYSE:RYAN) had its price objective lifted by The Goldman Sachs Group from $58.00 to $64.00 in a research report sent to investors on Monday, MarketBeat Ratings reports. They currently have a neutral rating on the stock.

RYAN has been the subject of a number of other reports. Citigroup upped their price objective on Ryan Specialty from $56.00 to $62.00 and gave the stock a neutral rating in a research note on Tuesday, July 23rd. JPMorgan Chase & Co. raised their price target on shares of Ryan Specialty from $54.00 to $56.00 and gave the company an underweight rating in a report on Friday, August 2nd. JMP Securities reiterated a market perform rating on shares of Ryan Specialty in a research note on Monday, April 15th. UBS Group increased their target price on shares of Ryan Specialty from $63.00 to $67.00 and gave the company a buy rating in a research report on Tuesday, July 9th. Finally, Wells Fargo & Company lifted their price target on shares of Ryan Specialty from $60.00 to $63.00 and gave the stock an equal weight rating in a report on Friday, August 2nd. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, Ryan Specialty has an average rating of Hold and an average target price of $61.00.

Ryan Specialty Stock Performance

Shares of Ryan Specialty stock opened at $65.46 on Monday. Ryan Specialty has a 12 month low of $41.49 and a 12 month high of $69.03. The stock’s fifty day moving average price is $58.02 and its 200-day moving average price is $53.21. The firm has a market cap of $17.05 billion, a P/E ratio of 123.51, a P/E/G ratio of 1.78 and a beta of 0.62. The company has a current ratio of 1.15, a quick 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 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.56 by $0.02. The firm had revenue of $695.40 million for the quarter, compared to the consensus estimate of $695.56 million. Ryan Specialty had a net margin of 10.21% and a return on equity of 49.43%. The company’s quarterly revenue was up 18.9% on a year-over-year basis. During the same period last year, the firm earned $0.45 earnings per share. 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 business also recently declared a quarterly dividend, which will be paid on Tuesday, August 27th. Shareholders of record on Tuesday, August 13th will be given a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a yield of 0.67%. The ex-dividend date is Tuesday, August 13th. Ryan Specialty’s dividend payout ratio is currently 83.02%.

Institutional Trading of Ryan Specialty

Hedge funds have recently added to or reduced their stakes in the company. GAMMA Investing LLC raised its position in shares of Ryan Specialty by 96.4% in the second quarter. GAMMA Investing LLC now owns 605 shares of the company’s stock worth $35,000 after acquiring an additional 297 shares during the period. Crewe Advisors LLC acquired a new position in shares of Ryan Specialty during the second quarter valued at approximately $39,000. Parkside Financial Bank & Trust boosted 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 worth $43,000 after acquiring an additional 937 shares during the last quarter. Intelligent Financial Strategies acquired a new position in Ryan Specialty in the 1st quarter valued at $44,000. Finally, Benjamin F. Edwards & Company Inc. purchased a new position in Ryan Specialty in the 1st quarter valued at $45,000. 84.82% of the stock is owned by hedge funds and other institutional investors.

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.