Barclays Cuts Ryan Specialty (NYSE:RYAN) Price Target to $83.00

Ryan Specialty (NYSE:RYAN) had its target price decreased by Barclays from $88.00 to $83.00 in a report published on Friday,Benzinga reports. Barclays currently has an overweight rating on the stock.

Several other equities research analysts have also recently issued reports on the company. Keefe, Bruyette & Woods cut their target price on Ryan Specialty from $76.00 to $75.00 and set an “outperform” rating for the company in a research note on Wednesday, April 9th. Royal Bank of Canada decreased their target price on shares of Ryan Specialty from $73.00 to $72.00 and set a “sector perform” rating on the stock in a research report on Friday, February 21st. Wells Fargo & Company dropped their price target on shares of Ryan Specialty from $69.00 to $66.00 and set an “equal weight” rating for the company in a research report on Thursday. TD Cowen assumed coverage on shares of Ryan Specialty in a research report on Thursday. They set a “buy” rating and a $89.00 price objective for the company. Finally, UBS Group boosted their target price on Ryan Specialty from $82.00 to $84.00 and gave the company a “buy” rating in a research report on Wednesday, February 26th. One analyst has rated the stock with a sell rating, six have issued a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $75.67.

Ryan Specialty Price Performance

Ryan Specialty stock opened at $72.76 on Friday. The company has a fifty day simple moving average of $70.05 and a 200-day simple moving average of $68.88. 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 firm has a market capitalization of $19.06 billion, a price-to-earnings ratio of 105.45, a PEG ratio of 1.19 and a beta of 0.66. Ryan Specialty has a 52-week low of $48.48 and a 52-week high of $77.16.

Ryan Specialty (NYSE:RYAN) last released its quarterly earnings data 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). Ryan Specialty had a return on equity of 48.01% and a net margin of 9.14%. The company had revenue of $663.53 million for the quarter, compared to analyst estimates of $658.80 million. On average, equities analysts anticipate that Ryan Specialty will post 2.29 EPS for the current fiscal year.

Ryan Specialty Increases Dividend

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

Insider Buying and Selling at Ryan Specialty

In other Ryan Specialty news, Director Nicholas Dominic Cortezi sold 35,000 shares of the firm’s stock in a transaction that occurred on Friday, January 17th. The shares were sold at an average price of $67.15, for a total transaction of $2,350,250.00. Following the sale, the director now owns 25,809 shares of the company’s stock, valued at approximately $1,733,074.35. This trade represents a 57.56 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Brendan Martin Mulshine sold 30,000 shares of the business’s stock in a transaction that occurred on Friday, March 14th. The stock was sold at an average price of $69.30, for a total transaction of $2,079,000.00. The disclosure for this sale can be found here. Insiders have sold a total of 211,894 shares of company stock worth $14,089,370 over the last ninety days. Corporate insiders own 11.10% of the company’s stock.

Institutional Trading of Ryan Specialty

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Rakuten Securities Inc. acquired a new position in Ryan Specialty during the fourth quarter worth approximately $27,000. Kapitalo Investimentos Ltda acquired a new position in shares of Ryan Specialty in the 4th quarter valued at $36,000. Principal Securities Inc. raised its position in Ryan Specialty by 164.7% in the 4th quarter. Principal Securities Inc. now owns 667 shares of the company’s stock valued at $43,000 after purchasing an additional 415 shares during the last quarter. Mizuho Bank Ltd. acquired a new stake in Ryan Specialty during the 4th quarter worth $49,000. Finally, Headlands Technologies LLC grew its position in Ryan Specialty by 2,644.8% during the 4th quarter. Headlands Technologies LLC now owns 796 shares of the company’s stock worth $51,000 after purchasing an additional 767 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.