UBS Group Increases Ryan Specialty (NYSE:RYAN) Price Target to $76.00

Ryan Specialty (NYSE:RYAN) had its target price raised by UBS Group from $67.00 to $76.00 in a report released on Tuesday morning, Benzinga reports. They currently have a buy rating on the stock.

A number of other research firms have also weighed in on RYAN. Bank of America initiated coverage on Ryan Specialty in a research note on Wednesday, May 22nd. They set a buy rating and a $67.00 price objective for the company. Wolfe Research lowered shares of Ryan Specialty from an outperform rating to a peer perform rating in a report on Monday, May 6th. Wells Fargo & Company boosted their price objective on shares of Ryan Specialty from $60.00 to $63.00 and gave the company an equal weight rating in a research report on Friday, August 2nd. JPMorgan Chase & Co. increased their target price on shares of Ryan Specialty from $54.00 to $56.00 and gave the stock an underweight rating in a report on Friday, August 2nd. Finally, Citigroup boosted their price target on Ryan Specialty from $56.00 to $62.00 and gave the company a neutral rating in a report on Tuesday, July 23rd. One 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’s stock. According to MarketBeat, the stock has an average rating of Hold and a consensus target price of $62.00.

Ryan Specialty Price Performance

Shares of NYSE:RYAN opened at $64.49 on Tuesday. The company’s fifty day moving average is $59.13 and its 200 day moving average is $54.08. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 1.81. Ryan Specialty has a 52 week low of $41.49 and a 52 week high of $69.03. The stock has a market cap of $16.80 billion, a PE ratio of 121.68, a PEG ratio of 1.56 and a beta of 0.62.

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. The firm had revenue of $695.40 million for the quarter, compared to the consensus estimate of $695.56 million. Ryan Specialty had a return on equity of 48.08% and a net margin of 10.21%. The company’s quarterly revenue was up 18.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.45 earnings per share. Research analysts anticipate that Ryan Specialty will post 1.81 earnings per share for the current year.

Ryan Specialty Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, August 27th. Stockholders of record on Tuesday, August 13th will be paid a $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a dividend yield of 0.68%. The ex-dividend date is Tuesday, August 13th. Ryan Specialty’s payout ratio is presently 83.02%.

Insider Activity at Ryan Specialty

In related news, President Timothy William Turner sold 2,000,000 shares of the stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $62.45, for a total value of $124,900,000.00. Following the completion of the transaction, the president now directly owns 8,095 shares in the company, valued at approximately $505,532.75. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, President Timothy William Turner sold 2,000,000 shares of the business’s stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $62.45, for a total value of $124,900,000.00. Following the sale, the president now directly owns 8,095 shares of the company’s stock, valued at approximately $505,532.75. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Jeremiah Rawlins Bickham sold 26,233 shares of the firm’s stock in a transaction that occurred on Wednesday, August 14th. The shares were sold at an average price of $65.18, for a total value of $1,709,866.94. Following the transaction, the executive vice president now directly owns 24,845 shares of the company’s stock, valued at approximately $1,619,397.10. The disclosure for this sale can be found here. 11.10% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Ryan Specialty

A number of hedge funds have recently bought and sold shares of RYAN. Sumitomo Mitsui Trust Holdings Inc. raised its holdings in Ryan Specialty by 26.0% in the fourth quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,512,036 shares of the company’s stock worth $65,048,000 after buying an additional 312,066 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Ryan Specialty by 9.5% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 21,898 shares of the company’s stock valued at $942,000 after acquiring an additional 1,896 shares in the last quarter. Federated Hermes Inc. boosted its stake in Ryan Specialty by 941.7% during the 4th quarter. Federated Hermes Inc. now owns 108,346 shares of the company’s stock valued at $4,661,000 after purchasing an additional 97,945 shares during the last quarter. Handelsbanken Fonder AB increased its holdings in shares of Ryan Specialty by 30.6% in the 4th quarter. Handelsbanken Fonder AB now owns 14,100 shares of the company’s stock worth $607,000 after purchasing an additional 3,300 shares in the last quarter. Finally, California Public Employees Retirement System raised its stake in shares of Ryan Specialty by 31.2% in the fourth quarter. California Public Employees Retirement System now owns 136,653 shares of the company’s stock worth $5,879,000 after purchasing an additional 32,497 shares during the last quarter. Institutional investors 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.