Morgan Stanley Issues Positive Forecast for Ryan Specialty (NYSE:RYAN) Stock Price

Ryan Specialty (NYSE:RYAN) had its target price hoisted by Morgan Stanley from $78.00 to $80.00 in a research note released on Monday morning,Benzinga reports. Morgan Stanley currently has an overweight rating on the stock.

RYAN has been the topic of a number of other research reports. Wells Fargo & Company lowered their price target on Ryan Specialty from $69.00 to $66.00 and set an “equal weight” rating on the stock in a research report on Thursday, April 10th. 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. Barclays reduced their price target on shares of Ryan Specialty from $88.00 to $83.00 and set an “overweight” rating on the stock in a research report on Friday, April 11th. UBS Group boosted their price objective on shares of Ryan Specialty from $82.00 to $84.00 and gave the stock a “buy” rating in a report on Wednesday, February 26th. Finally, The Goldman Sachs Group raised shares of Ryan Specialty from a “neutral” rating to a “buy” rating and increased their target price for the company from $74.00 to $81.00 in a report on Tuesday, May 13th. One research analyst has rated the stock with a sell rating, three have given a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $75.58.

Ryan Specialty Stock Down 0.7%

Shares of NYSE RYAN opened at $70.20 on Monday. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 2.40. The business has a 50-day moving average of $70.18 and a 200-day moving average of $68.77. The firm has a market capitalization of $18.42 billion, a price-to-earnings ratio of 101.74, a PEG ratio of 1.19 and a beta of 0.68. Ryan Specialty has a 12 month low of $52.34 and a 12 month high of $77.16.

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

Ryan Specialty Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, May 27th. Investors 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 0.68%. The ex-dividend date is Tuesday, May 13th. Ryan Specialty’s dividend payout ratio is currently 141.18%.

Insider Activity at Ryan Specialty

In other news, EVP Brendan Martin Mulshine sold 30,000 shares of the stock in a transaction 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 transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 11.10% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Ryan Specialty

Large investors have recently modified their holdings of the business. Raymond James Financial Inc. purchased a new position in shares of Ryan Specialty in the 4th quarter valued at $94,484,000. Norges Bank purchased a new position in Ryan Specialty in the fourth quarter valued at about $78,358,000. Principal Financial Group Inc. boosted its holdings in shares of Ryan Specialty by 66.4% in the 1st quarter. Principal Financial Group Inc. now owns 3,051,356 shares of the company’s stock valued at $225,404,000 after buying an additional 1,218,147 shares in the last quarter. Millennium Management LLC grew its position in shares of Ryan Specialty by 1,111.4% in the 4th quarter. Millennium Management LLC now owns 1,174,086 shares of the company’s stock worth $75,329,000 after buying an additional 1,077,169 shares during the last quarter. Finally, Invesco Ltd. grew its position in shares of Ryan Specialty by 121.6% in the 1st quarter. Invesco Ltd. now owns 1,590,862 shares of the company’s stock worth $117,517,000 after buying an additional 872,846 shares during the last quarter. Institutional investors own 84.82% of the company’s stock.

Ryan Specialty Company Profile

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.