Ryan Specialty (NYSE:RYAN) Given New $80.00 Price Target at UBS Group

Ryan Specialty (NYSE:RYAN) had its price target decreased by UBS Group from $84.00 to $80.00 in a report published on Monday,Benzinga reports. UBS Group currently has a buy rating on the stock.

Several other research firms have also recently weighed in on RYAN. Keefe, Bruyette & Woods reduced their target price 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. Morgan Stanley reduced their target price on shares of Ryan Specialty from $80.00 to $78.00 and set an “overweight” rating for the company in a research note on Monday, July 14th. Wall Street Zen upgraded shares of Ryan Specialty from a “sell” rating to a “hold” rating in a research note on Sunday. Wells Fargo & Company reduced their target price on shares of Ryan Specialty from $63.00 to $60.00 and set an “equal weight” rating for the company in a research note on Friday. Finally, Barclays reduced their target price on shares of Ryan Specialty from $83.00 to $79.00 and set an “overweight” rating for the company in a research note on Monday, July 7th. Three research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $77.30.

Ryan Specialty Stock Down 0.0%

NYSE RYAN opened at $57.83 on Monday. The company has a debt-to-equity ratio of 2.88, a quick ratio of 1.05 and a current ratio of 1.01. The firm has a 50-day simple moving average of $66.25 and a 200 day simple moving average of $68.16. Ryan Specialty has a twelve month low of $55.77 and a twelve month high of $77.16. The stock has a market cap of $15.18 billion, a PE ratio of 165.24, a PEG ratio of 1.57 and a beta of 0.64.

Ryan Specialty (NYSE:RYAN) last released its earnings results on Thursday, July 31st. The company reported $0.66 earnings per share for the quarter, meeting the consensus estimate of $0.66. Ryan Specialty had a net margin of 6.81% and a return on equity of 48.70%. The business had revenue of $855.17 million during the quarter, compared to analysts’ expectations of $837.52 million. During the same quarter last year, the company earned $0.58 earnings per share. The firm’s revenue was up 23.0% on a year-over-year basis. On average, research analysts forecast that Ryan Specialty will post 2.29 EPS for the current year.

Ryan Specialty Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 26th. Stockholders of record on Tuesday, August 12th will be issued a dividend of $0.12 per share. The ex-dividend date of this dividend is Tuesday, August 12th. This represents a $0.48 annualized dividend and a dividend yield of 0.8%. Ryan Specialty’s dividend payout ratio (DPR) is presently 137.14%.

Insider Activity at Ryan Specialty

In other news, Director David P. Bolger sold 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, June 3rd. The shares were sold at an average price of $70.80, for a total transaction of $354,000.00. Following the completion of 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 transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Mark Stephen Katz sold 14,377 shares of the firm’s stock in a transaction that occurred on Friday, June 13th. The stock was sold at an average price of $65.84, for a total transaction of $946,581.68. Following the sale, the executive vice president directly owned 1,117 shares of the company’s stock, valued at approximately $73,543.28. The trade was a 92.79% decrease in their position. The disclosure for this sale can be found here. Company insiders own 52.21% of the company’s stock.

Institutional Trading of Ryan Specialty

Hedge funds have recently modified their holdings of the company. Montrusco Bolton Investments Inc. acquired a new stake in shares of Ryan Specialty in the second quarter valued at approximately $213,852,000. Principal Financial Group Inc. increased its holdings in shares of Ryan Specialty by 66.4% in the first quarter. Principal Financial Group Inc. now owns 3,051,356 shares of the company’s stock valued at $225,404,000 after purchasing an additional 1,218,147 shares in the last quarter. Millennium Management LLC increased its holdings in shares of Ryan Specialty by 1,111.4% in the fourth quarter. Millennium Management LLC now owns 1,174,086 shares of the company’s stock valued at $75,329,000 after purchasing an additional 1,077,169 shares in the last quarter. Invesco Ltd. increased its holdings in shares of Ryan Specialty by 121.6% in the first quarter. Invesco Ltd. now owns 1,590,862 shares of the company’s stock valued at $117,517,000 after purchasing an additional 872,846 shares in the last quarter. Finally, Artemis Investment Management LLP acquired a new stake in shares of Ryan Specialty in the first quarter valued at approximately $57,023,000. 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.