Ryan Specialty (NYSE:RYAN) Price Target Increased to $70.00 by Analysts at Wells Fargo & Company

Ryan Specialty (NYSE:RYAN) had its price objective lifted by Wells Fargo & Company from $63.00 to $70.00 in a research note released on Thursday morning, Benzinga reports. The brokerage currently has an equal weight rating on the stock.

A number of other research analysts have also recently issued reports on the stock. BMO Capital Markets raised shares of Ryan Specialty from a market perform rating to an outperform rating and raised their price target for the stock from $65.00 to $75.00 in a report on Tuesday, September 24th. Barclays assumed coverage on Ryan Specialty in a research report on Wednesday, September 4th. They set an overweight rating and a $76.00 price target for the company. The Goldman Sachs Group increased their price objective on Ryan Specialty from $64.00 to $72.00 and gave the company a neutral rating in a report on Wednesday. JPMorgan Chase & Co. lifted their target price on Ryan Specialty from $54.00 to $56.00 and gave the stock an underweight rating in a report on Friday, August 2nd. Finally, UBS Group increased their price target on shares of Ryan Specialty from $67.00 to $76.00 and gave the stock a buy rating in a report on Tuesday, August 13th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of Hold and a consensus price target of $70.33.

Ryan Specialty Stock Up 1.9 %

Shares of RYAN stock opened at $71.76 on Thursday. The stock’s fifty day moving average price is $65.68 and its 200 day moving average price is $58.69. Ryan Specialty has a 1-year low of $41.49 and a 1-year high of $72.97. The company has a market cap of $18.76 billion, a price-to-earnings ratio of 112.13, a price-to-earnings-growth ratio of 1.70 and a beta of 0.62. The company has a debt-to-equity ratio of 1.81, a current ratio of 1.09 and a quick ratio of 1.09.

Ryan Specialty (NYSE:RYAN) last issued its quarterly earnings results on Thursday, August 1st. The company reported $0.58 earnings per share for the quarter, topping analysts’ consensus estimates of $0.56 by $0.02. The business had revenue of $695.40 million for the quarter, compared to analyst estimates of $695.56 million. Ryan Specialty had a return on equity of 48.08% and a net margin of 10.21%. The company’s revenue was up 18.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.45 earnings per share. On average, research analysts expect that Ryan Specialty will post 1.81 earnings per share for the current fiscal year.

Ryan Specialty Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, August 27th. Investors of record on Tuesday, August 13th were given a dividend of $0.11 per share. The ex-dividend date of this dividend was Tuesday, August 13th. This represents a $0.44 annualized dividend and a yield of 0.61%. Ryan Specialty’s dividend payout ratio is presently 68.75%.

Insiders Place Their Bets

In related news, Director Nicholas Dominic Cortezi sold 1,500 shares of Ryan Specialty stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $65.02, for a total value of $97,530.00. Following the completion of the transaction, the director now owns 25,123 shares in the company, valued at $1,633,497.46. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, President Timothy William Turner sold 2,000,000 shares of Ryan Specialty 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 sale, the president now owns 8,095 shares in the company, valued at $505,532.75. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Nicholas Dominic Cortezi sold 1,500 shares of the business’s stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $65.02, for a total transaction of $97,530.00. Following the sale, the director now directly owns 25,123 shares of the company’s stock, valued at $1,633,497.46. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 2,107,136 shares of company stock worth $131,860,032. Company insiders own 11.10% of the company’s stock.

Institutional Investors Weigh In On Ryan Specialty

Several institutional investors have recently bought and sold shares of the company. Sapient Capital LLC acquired a new position in shares of Ryan Specialty during the third quarter valued at approximately $1,284,000. CHICAGO TRUST Co NA raised its stake in Ryan Specialty by 10.3% in the 3rd quarter. CHICAGO TRUST Co NA now owns 4,838 shares of the company’s stock valued at $321,000 after purchasing an additional 450 shares during the last quarter. Exchange Traded Concepts LLC acquired a new position in Ryan Specialty in the 3rd quarter valued at $761,000. UMB Bank n.a. lifted its holdings in Ryan Specialty by 5.2% in the 3rd quarter. UMB Bank n.a. now owns 5,224 shares of the company’s stock valued at $347,000 after purchasing an additional 256 shares in the last quarter. Finally, GAMMA Investing LLC boosted its position in Ryan Specialty by 106.4% during the third quarter. GAMMA Investing LLC now owns 1,249 shares of the company’s stock worth $83,000 after acquiring an additional 644 shares during the last quarter. 84.82% of the stock is currently owned by institutional investors and hedge funds.

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.