Ryan Specialty (NYSE:RYAN) Price Target Cut to $72.00 by Analysts at Royal Bank of Canada

Ryan Specialty (NYSE:RYAN) had its price objective decreased by Royal Bank of Canada from $73.00 to $72.00 in a research note released on Friday morning,Benzinga reports. Royal Bank of Canada currently has a sector perform rating on the stock.

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

Ryan Specialty Price Performance

Shares of NYSE RYAN opened at $65.55 on Friday. The firm has a market capitalization of $17.16 billion, a P/E ratio of 85.13, a P/E/G ratio of 1.21 and a beta of 0.72. The firm’s 50-day moving average price is $65.57 and its 200-day moving average price is $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.

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

Ryan Specialty Increases Dividend

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

Insider Buying and Selling

In related news, Director Nicholas Dominic Cortezi sold 35,000 shares of the stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $66.71, for a total transaction of $2,334,850.00. Following the completion of the transaction, the director now owns 60,200 shares in the company, valued at approximately $4,015,942. This represents a 36.76 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Over the last three months, insiders have sold 316,451 shares of company stock worth $20,907,793. 11.10% of the stock is owned by company insiders.

Institutional Trading of Ryan Specialty

Several hedge funds have recently added to or reduced their stakes in the stock. Hollencrest Capital Management bought a new position in shares of Ryan Specialty during the 3rd quarter valued at approximately $25,000. Rakuten Securities Inc. purchased a new position in Ryan Specialty in the fourth quarter valued at approximately $27,000. Assetmark Inc. bought a new position in Ryan Specialty during the third quarter valued at $34,000. Kapitalo Investimentos Ltda bought a new position in Ryan Specialty during the fourth quarter valued at $36,000. Finally, Principal Securities Inc. increased its position in Ryan Specialty by 164.7% in the fourth quarter. Principal Securities Inc. now owns 667 shares of the company’s stock worth $43,000 after buying an additional 415 shares during the last quarter. 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.