Ryan Specialty (NYSE:RYAN) Upgraded to Overweight at Wells Fargo & Company

Wells Fargo & Company upgraded shares of Ryan Specialty (NYSE:RYAN) from an equal weight rating to an overweight rating in a research report released on Wednesday, MarketBeat reports. The firm currently has $60.00 target price on the stock.

RYAN has been the subject of a number of other reports. Barclays decreased their price target on shares of Ryan Specialty from $83.00 to $79.00 and set an “overweight” rating for the company in a report on Monday, July 7th. Wall Street Zen upgraded shares of Ryan Specialty from a “sell” rating to a “hold” rating in a report on Sunday, August 3rd. UBS Group decreased their price target on shares of Ryan Specialty from $84.00 to $80.00 and set a “buy” rating for the company in a report on Monday, August 4th. Cantor Fitzgerald upgraded shares of Ryan Specialty to a “hold” rating in a report on Wednesday, August 13th. Finally, Citigroup assumed coverage on shares of Ryan Specialty in a report on Wednesday, August 13th. They set a “buy” rating and a $74.00 price target for the company. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $74.00.

Ryan Specialty Trading Up 1.5%

Shares of NYSE:RYAN opened at $53.39 on Wednesday. The stock has a market capitalization of $14.08 billion, a PE ratio of 152.55, a P/E/G ratio of 1.46 and a beta of 0.63. Ryan Specialty has a 1 year low of $50.08 and a 1 year high of $77.16. The firm has a fifty day moving average price of $59.14 and a 200 day moving average price of $65.74. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 2.88.

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

Ryan Specialty Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, August 26th. Investors of record on Tuesday, August 12th were paid a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 0.9%. The ex-dividend date was Tuesday, August 12th. Ryan Specialty’s dividend payout ratio (DPR) is presently 137.14%.

Insider Buying and Selling at Ryan Specialty

In other Ryan Specialty news, Chairman Patrick G. Ryan purchased 276,634 shares of the company’s stock in a transaction that occurred on Friday, September 12th. The stock was purchased at an average price of $51.84 per share, with a total value of $14,340,706.56. Following the completion of the transaction, the chairman directly owned 13,699,959 shares of the company’s stock, valued at approximately $710,205,874.56. This trade represents a 2.06% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 52.21% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in RYAN. Deutsche Bank AG raised its position in Ryan Specialty by 5.8% in the fourth quarter. Deutsche Bank AG now owns 10,814 shares of the company’s stock worth $694,000 after purchasing an additional 595 shares in the last quarter. Nuveen Asset Management LLC raised its position in Ryan Specialty by 22.1% in the fourth quarter. Nuveen Asset Management LLC now owns 352,516 shares of the company’s stock worth $22,617,000 after purchasing an additional 63,741 shares in the last quarter. Quantinno Capital Management LP raised its position in Ryan Specialty by 5.9% in the fourth quarter. Quantinno Capital Management LP now owns 14,163 shares of the company’s stock worth $909,000 after purchasing an additional 783 shares in the last quarter. ProShare Advisors LLC raised its position in Ryan Specialty by 11.6% in the fourth quarter. ProShare Advisors LLC now owns 4,979 shares of the company’s stock worth $319,000 after purchasing an additional 519 shares in the last quarter. Finally, Two Sigma Investments LP raised its position in Ryan Specialty by 114.9% in the fourth quarter. Two Sigma Investments LP now owns 204,817 shares of the company’s stock worth $13,141,000 after purchasing an additional 109,522 shares in 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.