Royal Bank of Canada Has Lowered Expectations for Ryan Specialty (NYSE:RYAN) Stock Price

Ryan Specialty (NYSE:RYAN) had its price target cut by Royal Bank of Canada from $73.00 to $72.00 in a report published on Friday morning,Benzinga reports. They currently have a sector perform rating on the stock.

A number of other research firms have also weighed in on RYAN. Keefe, Bruyette & Woods reduced their target price on Ryan Specialty from $77.00 to $76.00 and set an “outperform” rating for the company in a report on Friday. Morgan Stanley started coverage on shares of Ryan Specialty in a research note on Thursday, December 5th. They set an “overweight” rating and a $90.00 price objective for the company. Wells Fargo & Company increased their target price on shares of Ryan Specialty from $64.00 to $69.00 and gave the stock an “equal weight” rating in a research note on Friday. Finally, Barclays boosted their price target on shares of Ryan Specialty from $76.00 to $88.00 and gave the company an “overweight” rating in a research report on Thursday, November 21st. One research analyst has rated the stock with a sell rating, six have issued a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, Ryan Specialty has a consensus rating of “Hold” and a consensus target price of $74.55.

Ryan Specialty Stock Down 4.4 %

Ryan Specialty stock opened at $65.55 on Friday. The firm has a 50 day simple moving average of $65.57 and a 200 day simple moving average of $67.26. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 2.40. Ryan Specialty has a 1-year low of $45.72 and a 1-year high of $75.97. The firm has a market capitalization of $17.16 billion, a price-to-earnings ratio of 85.13, a P/E/G ratio of 1.21 and a beta of 0.72.

Ryan Specialty (NYSE:RYAN) last posted its quarterly earnings results on Thursday, February 20th. The company reported $0.45 EPS for the quarter, missing analysts’ consensus estimates of $0.47 by ($0.02). Ryan Specialty had a return on equity of 47.90% and a net margin of 10.31%. The company had revenue of $663.53 million during the quarter, compared to the consensus estimate of $658.80 million. On average, analysts predict that Ryan Specialty will post 1.82 earnings per share for the current year.

Ryan Specialty Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 18th. Stockholders of record on Tuesday, March 4th will be issued a dividend of $0.12 per share. This is an increase from Ryan Specialty’s previous quarterly dividend of $0.11. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.73%. The ex-dividend date is Tuesday, March 4th. Ryan Specialty’s payout ratio is currently 63.77%.

Insider Activity at Ryan Specialty

In other Ryan Specialty news, Director Nicholas Dominic Cortezi sold 35,000 shares of Ryan Specialty stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $67.39, for a total transaction of $2,358,650.00. Following the completion of the sale, the director now owns 65,100 shares of the company’s stock, valued at $4,387,089. The trade was a 34.97 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders have sold a total of 316,451 shares of company stock valued at $20,907,793 over the last 90 days. 11.10% of the stock is owned by insiders.

Hedge Funds Weigh In On Ryan Specialty

A number of large investors have recently modified their holdings of RYAN. Signaturefd LLC boosted its stake in Ryan Specialty by 12.3% in the third quarter. Signaturefd LLC now owns 1,347 shares of the company’s stock worth $89,000 after buying an additional 148 shares in the last quarter. Mariner LLC lifted its holdings in shares of Ryan Specialty by 3.4% in the 4th quarter. Mariner LLC now owns 5,278 shares of the company’s stock worth $339,000 after acquiring an additional 172 shares during the last quarter. Sanctuary Advisors LLC boosted its stake in shares of Ryan Specialty by 1.2% in the 4th quarter. Sanctuary Advisors LLC now owns 15,690 shares of the company’s stock valued at $1,045,000 after purchasing an additional 188 shares in the last quarter. State of Alaska Department of Revenue grew its holdings in shares of Ryan Specialty by 1.6% during the 4th quarter. State of Alaska Department of Revenue now owns 12,130 shares of the company’s stock valued at $778,000 after purchasing an additional 190 shares during the last quarter. Finally, CIBC Asset Management Inc increased its holdings in shares of Ryan Specialty by 5.6% in the fourth quarter. CIBC Asset Management Inc now owns 3,674 shares of the company’s stock worth $236,000 after buying an additional 196 shares during the period. 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.