Ryan Specialty (NYSE:RYAN) Downgraded to “Equal Weight” at Wells Fargo & Company

Wells Fargo & Company cut shares of Ryan Specialty (NYSE:RYAN) from an overweight rating to an equal weight rating in a research report released on Thursday, MarketBeat reports. The brokerage currently has $60.00 price objective on the stock, up from their previous price objective of $58.00.

RYAN has been the topic of a number of other reports. JPMorgan Chase & Co. raised their price objective on Ryan Specialty from $47.00 to $49.00 and gave the company an underweight rating in a report on Monday, April 8th. JMP Securities restated a market perform rating on shares of Ryan Specialty in a research report on Monday, April 15th. Wolfe Research lowered Ryan Specialty from an outperform rating to a peer perform rating in a research report on Monday, May 6th. Bank of America began coverage on Ryan Specialty in a research report on Wednesday, May 22nd. They set a buy rating and a $67.00 price target on the stock. Finally, Keefe, Bruyette & Woods restated an outperform rating and set a $62.00 price target on shares of Ryan Specialty in a research report on Tuesday, July 2nd. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of Hold and a consensus price target of $57.50.

Ryan Specialty Stock Performance

NYSE:RYAN opened at $56.34 on Thursday. The business’s 50-day moving average price is $55.17 and its two-hundred day moving average price is $50.69. Ryan Specialty has a twelve month low of $41.49 and a twelve month high of $61.29. The stock has a market cap of $14.67 billion, a P/E ratio of 106.30, a PEG ratio of 1.46 and a beta of 0.62. 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 announced its quarterly earnings data on Thursday, May 2nd. The company reported $0.35 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.35. The company had revenue of $552.00 million for the quarter, compared to analysts’ expectations of $549.06 million. Ryan Specialty had a return on equity of 45.87% and a net margin of 9.15%. Ryan Specialty’s revenue for the quarter was up 20.6% compared to the same quarter last year. During the same period last year, the firm posted $0.26 EPS. As a group, equities analysts predict that Ryan Specialty will post 1.77 EPS for the current fiscal year.

Ryan Specialty Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, May 28th. Shareholders of record on Tuesday, May 14th were paid a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a yield of 0.78%. The ex-dividend date of this dividend was Monday, May 13th. Ryan Specialty’s payout ratio is 83.02%.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in RYAN. Champlain Investment Partners LLC raised its stake in Ryan Specialty by 28.0% during the first quarter. Champlain Investment Partners LLC now owns 4,937,332 shares of the company’s stock valued at $274,022,000 after buying an additional 1,079,505 shares during the last quarter. Norden Group LLC raised its stake in Ryan Specialty by 2,138.1% during the first 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. raised its stake in shares of Ryan Specialty by 33.9% in the first quarter. Bessemer Group Inc. now owns 1,925,864 shares of the company’s stock worth $106,886,000 after purchasing an additional 488,067 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of Ryan Specialty by 4.9% in the third quarter. Vanguard Group Inc. now owns 9,198,624 shares of the company’s stock worth $445,213,000 after purchasing an additional 428,165 shares during the last quarter. Finally, Norges Bank purchased a new position in shares of Ryan Specialty in the fourth quarter worth $16,964,000. Hedge funds and other 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.