Ryan Specialty (NYSE:RYAN) Price Target Cut to $78.00 by Analysts at Morgan Stanley

Ryan Specialty (NYSE:RYAN) had its price objective lowered by Morgan Stanley from $80.00 to $78.00 in a research report sent to investors on Monday,Benzinga reports. The brokerage currently has an overweight rating on the stock.

A number of other equities analysts have also commented on RYAN. TD Cowen started coverage on Ryan Specialty in a research note on Thursday, April 10th. They issued a “buy” rating and a $89.00 price objective on the stock. Keefe, Bruyette & Woods dropped their price target on Ryan Specialty from $76.00 to $75.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 9th. Wells Fargo & Company dropped their price target on Ryan Specialty from $65.00 to $63.00 and set an “equal weight” rating on the stock in a research note on Thursday, July 10th. The Goldman Sachs Group raised Ryan Specialty from a “neutral” rating to a “buy” rating and boosted their price target for the company from $74.00 to $81.00 in a research note on Tuesday, May 13th. Finally, Barclays dropped their price target on Ryan Specialty from $83.00 to $79.00 and set an “overweight” rating on the stock in a research note on Monday, July 7th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, Ryan Specialty has an average rating of “Moderate Buy” and an average target price of $74.83.

Ryan Specialty Price Performance

Shares of RYAN opened at $65.37 on Monday. The stock has a market capitalization of $17.15 billion, a P/E ratio of 192.25, a P/E/G ratio of 1.70 and a beta of 0.66. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 3.45. Ryan Specialty has a twelve month low of $56.59 and a twelve month high of $77.16. The company has a 50 day moving average of $68.08 and a 200-day moving average of $68.16.

Ryan Specialty (NYSE:RYAN) last announced its quarterly earnings results on Thursday, May 1st. The company reported $0.39 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.39. The business had revenue of $690.17 million during the quarter, compared to the consensus estimate of $680.80 million. Ryan Specialty had a return on equity of 47.70% and a net margin of 6.97%. The company’s quarterly revenue was up 25.0% on a year-over-year basis. During the same quarter last year, the firm posted $0.35 EPS. As a group, equities research analysts forecast that Ryan Specialty will post 2.29 EPS for the current fiscal year.

Ryan Specialty Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, May 27th. Shareholders of record on Tuesday, May 13th were paid a dividend of $0.12 per share. The ex-dividend date was Tuesday, May 13th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.73%. Ryan Specialty’s payout ratio is currently 141.18%.

Insider Transactions at Ryan Specialty

In related news, EVP Mark Stephen Katz sold 14,377 shares of Ryan Specialty stock in a transaction dated Friday, June 13th. The stock was sold at an average price of $65.84, for a total value of $946,581.68. Following the completion of the transaction, the executive vice president owned 1,117 shares in the company, valued at $73,543.28. The trade was a 92.79% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director David P. Bolger sold 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, June 3rd. The stock was sold at an average price of $70.80, for a total value of $354,000.00. Following the sale, the director owned 71,467 shares of the company’s stock, valued at approximately $5,059,863.60. This trade represents a 6.54% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 52.21% of the company’s stock.

Institutional Trading of Ryan Specialty

A number of large investors have recently modified their holdings of RYAN. Whittier Trust Co. of Nevada Inc. increased its stake in shares of Ryan Specialty by 281.6% during the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 332 shares of the company’s stock worth $25,000 after purchasing an additional 245 shares in the last quarter. SVB Wealth LLC purchased a new position in shares of Ryan Specialty during the 1st quarter worth approximately $26,000. Central Pacific Bank Trust Division purchased a new position in shares of Ryan Specialty during the 2nd quarter worth approximately $31,000. WPG Advisers LLC purchased a new position in shares of Ryan Specialty during the 1st quarter worth approximately $32,000. Finally, Golden State Wealth Management LLC purchased a new position in shares of Ryan Specialty during the 1st quarter worth approximately $35,000. Hedge funds and other 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.