Ryan Specialty (NYSE:RYAN) Research Coverage Started at TD Cowen

TD Cowen initiated coverage on shares of Ryan Specialty (NYSE:RYAN) in a report published on Thursday, Marketbeat.com reports. The brokerage issued a buy rating and a $89.00 price target on the stock.

Other analysts have also issued research reports about the company. UBS Group increased their price target on Ryan Specialty from $82.00 to $84.00 and gave the company a “buy” rating in a report on Wednesday, February 26th. Keefe, Bruyette & Woods reduced their target price on shares of Ryan Specialty from $76.00 to $75.00 and set an “outperform” rating on the stock in a research note on Wednesday. Royal Bank of Canada lowered their target price on shares of Ryan Specialty from $73.00 to $72.00 and set a “sector perform” rating for the company in a report on Friday, February 21st. Finally, Wells Fargo & Company upped their price target on shares of Ryan Specialty from $64.00 to $69.00 and gave the company an “equal weight” rating in a report on Friday, February 21st. One research analyst has rated the stock with a sell rating, six have issued a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Ryan Specialty presently has an average rating of “Hold” and a consensus target price of $75.67.

Ryan Specialty Stock Performance

Ryan Specialty stock opened at $72.76 on Thursday. The company’s 50-day moving average price is $70.05 and its 200-day moving average price is $68.86. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 2.40. The company has a market cap of $19.06 billion, a PE ratio of 105.45, a price-to-earnings-growth ratio of 1.19 and a beta of 0.66. Ryan Specialty has a twelve month low of $48.48 and a twelve month high of $77.16.

Ryan Specialty (NYSE:RYAN) last issued its quarterly earnings data on Thursday, February 20th. The company reported $0.45 earnings per share for the quarter, missing the consensus estimate of $0.47 by ($0.02). The company had revenue of $663.53 million for the quarter, compared to the consensus estimate of $658.80 million. Ryan Specialty had a return on equity of 48.01% and a net margin of 9.14%. On average, equities research analysts forecast that Ryan Specialty will post 2.29 EPS for the current fiscal year.

Ryan Specialty Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 18th. Investors of record on Tuesday, March 4th were issued a $0.12 dividend. This is a positive change from Ryan Specialty’s previous quarterly dividend of $0.11. The ex-dividend date was Tuesday, March 4th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.66%. Ryan Specialty’s payout ratio is presently 69.57%.

Insiders Place Their Bets

In other Ryan Specialty news, EVP Brendan Martin Mulshine sold 30,000 shares of the firm’s stock in a transaction dated Friday, March 14th. The shares were sold at an average price of $69.30, for a total transaction of $2,079,000.00. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Nicholas Dominic Cortezi sold 29,466 shares of the company’s stock in a transaction that occurred on Monday, January 13th. The stock was sold at an average price of $65.06, for a total transaction of $1,917,057.96. Following the completion of the sale, the director now directly owns 45,409 shares of the company’s stock, valued at $2,954,309.54. The trade was a 39.35 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 241,360 shares of company stock worth $16,006,428 in the last ninety days. 11.10% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in RYAN. JPMorgan Chase & Co. grew its stake in Ryan Specialty by 107.5% in the third quarter. JPMorgan Chase & Co. now owns 459,464 shares of the company’s stock valued at $30,504,000 after purchasing an additional 238,064 shares during the last quarter. Bar Harbor Wealth Management grew its position in shares of Ryan Specialty by 5.9% in the 4th quarter. Bar Harbor Wealth Management now owns 168,871 shares of the company’s stock worth $10,835,000 after buying an additional 9,482 shares during the last quarter. Barclays PLC raised its stake in shares of Ryan Specialty by 1.1% during the 3rd quarter. Barclays PLC now owns 1,641,743 shares of the company’s stock worth $108,994,000 after acquiring an additional 17,267 shares in the last quarter. Teachers Retirement System of The State of Kentucky lifted its position in Ryan Specialty by 51.5% during the third quarter. Teachers Retirement System of The State of Kentucky now owns 30,760 shares of the company’s stock valued at $2,042,000 after acquiring an additional 10,460 shares during the last quarter. Finally, HighTower Advisors LLC boosted its stake in Ryan Specialty by 101.6% in the third quarter. HighTower Advisors LLC now owns 39,969 shares of the company’s stock valued at $2,661,000 after acquiring an additional 20,139 shares in the last quarter. 84.82% of the stock is owned by 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.