Ryan Specialty (NYSE:RYAN) Stock Rating Upgraded by The Goldman Sachs Group

The Goldman Sachs Group upgraded shares of Ryan Specialty (NYSE:RYAN) from a neutral rating to a buy rating in a report issued on Tuesday, Marketbeat reports. They currently have $81.00 target price on the stock, up from their previous target price of $74.00.

A number of other equities analysts have also commented on RYAN. Royal Bank of Canada decreased their price objective on shares of Ryan Specialty from $73.00 to $72.00 and set a “sector perform” rating for the company in a research note on Friday, February 21st. Keefe, Bruyette & Woods decreased their price objective on shares of Ryan Specialty from $76.00 to $75.00 and set an “outperform” rating for the company in a research note on Wednesday, April 9th. UBS Group raised their price objective on shares of Ryan Specialty from $82.00 to $84.00 and gave the stock a “buy” rating in a research note on Wednesday, February 26th. TD Cowen began coverage on shares of Ryan Specialty in a research note on Thursday, April 10th. They issued a “buy” rating and a $89.00 price objective for the company. Finally, Barclays decreased their price objective on shares of Ryan Specialty from $88.00 to $83.00 and set an “overweight” rating for the company in a research note on Friday, April 11th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Ryan Specialty currently has an average rating of “Moderate Buy” and a consensus price target of $76.42.

Ryan Specialty Trading Up 2.2%

Ryan Specialty stock opened at $69.89 on Tuesday. The company has a debt-to-equity ratio of 2.40, a quick ratio of 1.01 and a current ratio of 1.01. The firm has a market cap of $18.34 billion, a price-to-earnings ratio of 101.29, a price-to-earnings-growth ratio of 1.19 and a beta of 0.68. Ryan Specialty has a 1 year low of $52.34 and a 1 year high of $77.16. The firm’s 50 day moving average price is $70.12 and its two-hundred day moving average price is $68.72.

Ryan Specialty (NYSE:RYAN) last posted its quarterly earnings results on Thursday, May 1st. The company reported $0.39 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.39. The firm had revenue of $690.17 million for the quarter, compared to analyst estimates of $680.80 million. Ryan Specialty had a net margin of 9.14% and a return on equity of 48.01%. The firm’s quarterly revenue was up 25.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.35 earnings per share. On average, research analysts predict that Ryan Specialty will post 2.29 EPS for the current fiscal year.

Ryan Specialty Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, May 27th. Shareholders of record on Tuesday, May 13th will be paid a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.69%. The ex-dividend date of this dividend is Tuesday, May 13th. Ryan Specialty’s dividend payout ratio (DPR) is currently 141.18%.

Insider Buying and Selling at Ryan Specialty

In other Ryan Specialty news, EVP Brendan Martin Mulshine sold 30,000 shares of the business’s stock in a transaction on 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 document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 11.10% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of RYAN. Raymond James Financial Inc. acquired a new position in Ryan Specialty during the 4th quarter worth $94,484,000. Norges Bank acquired a new position in Ryan Specialty during the 4th quarter worth $78,358,000. Principal Financial Group Inc. lifted its position in Ryan Specialty by 66.4% during the 1st quarter. Principal Financial Group Inc. now owns 3,051,356 shares of the company’s stock worth $225,404,000 after acquiring an additional 1,218,147 shares during the last quarter. Millennium Management LLC lifted its position in Ryan Specialty by 1,111.4% during the 4th quarter. Millennium Management LLC now owns 1,174,086 shares of the company’s stock worth $75,329,000 after acquiring an additional 1,077,169 shares during the last quarter. Finally, Invesco Ltd. lifted its position in Ryan Specialty by 121.6% during the 1st quarter. Invesco Ltd. now owns 1,590,862 shares of the company’s stock worth $117,517,000 after acquiring an additional 872,846 shares during the last quarter. Institutional investors and hedge funds 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.