Ryan Specialty (NYSE:RYAN) Given Outperform Rating at Keefe, Bruyette & Woods

Keefe, Bruyette & Woods restated their outperform rating on shares of Ryan Specialty (NYSE:RYAN) in a research report sent to investors on Tuesday morning, Benzinga reports. Keefe, Bruyette & Woods currently has a $62.00 price target on the stock.

A number of other research firms also recently commented on RYAN. Wells Fargo & Company boosted their price objective on Ryan Specialty from $57.00 to $58.00 and gave the stock an overweight rating in a research note on Thursday, April 11th. Wolfe Research lowered Ryan Specialty from an outperform rating to a peer perform rating in a research report on Monday, May 6th. JPMorgan Chase & Co. boosted their target price on Ryan Specialty from $47.00 to $49.00 and gave the company an underweight rating in a research note on Monday, April 8th. JMP Securities restated a market perform rating on shares of Ryan Specialty in a research note on Monday, April 15th. Finally, Bank of America began coverage on Ryan Specialty in a research note on Wednesday, May 22nd. They issued a buy rating and a $67.00 target price on the stock. One research analyst has rated the stock with a sell rating, five have issued a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of Hold and a consensus target price of $55.67.

Ryan Specialty Price Performance

Shares of RYAN opened at $57.35 on Tuesday. Ryan Specialty has a 52 week low of $41.49 and a 52 week high of $61.29. The firm has a market cap of $14.94 billion, a price-to-earnings ratio of 108.21, a PEG ratio of 1.50 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. The stock has a 50 day moving average of $54.25 and a 200-day moving average of $50.08.

Ryan Specialty (NYSE:RYAN) last released its quarterly earnings data on Thursday, May 2nd. The company reported $0.35 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.35. Ryan Specialty had a return on equity of 45.87% and a net margin of 9.15%. The business had revenue of $552.00 million during the quarter, compared to analyst estimates of $549.06 million. During the same quarter in the previous year, the firm posted $0.26 EPS. The business’s revenue for the quarter was up 20.6% compared to the same quarter last year. As a group, analysts forecast that Ryan Specialty will post 1.77 EPS for the current year.

Ryan Specialty Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, May 28th. Investors of record on Tuesday, May 14th were given a dividend of $0.11 per share. The ex-dividend date was Monday, May 13th. This represents a $0.44 annualized dividend and a dividend yield of 0.77%. Ryan Specialty’s dividend payout ratio is presently 83.02%.

Hedge Funds Weigh In On Ryan Specialty

Several large investors have recently made changes to their positions in RYAN. Champlain Investment Partners LLC raised its holdings in Ryan Specialty by 28.0% in the 1st quarter. Champlain Investment Partners LLC now owns 4,937,332 shares of the company’s stock valued at $274,022,000 after acquiring an additional 1,079,505 shares in the last quarter. Norden Group LLC boosted its position in Ryan Specialty by 2,138.1% in the 1st quarter. Norden Group LLC now owns 778,848 shares of the company’s stock valued at $43,226,000 after buying an additional 744,049 shares during the last quarter. Bessemer Group Inc. boosted its position in Ryan Specialty by 33.9% in the 1st quarter. Bessemer Group Inc. now owns 1,925,864 shares of the company’s stock valued at $106,886,000 after buying an additional 488,067 shares during the last quarter. Vanguard Group Inc. boosted its position in Ryan Specialty by 4.9% in the 3rd quarter. Vanguard Group Inc. now owns 9,198,624 shares of the company’s stock valued at $445,213,000 after buying an additional 428,165 shares during the last quarter. Finally, Norges Bank bought a new position in shares of Ryan Specialty in the 4th quarter worth $16,964,000. Institutional investors and hedge funds 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.