Ryan Specialty (NYSE:RYAN) Given New $65.00 Price Target at Morgan Stanley

Ryan Specialty (NYSE:RYAN) had its target price trimmed by Morgan Stanley from $68.00 to $65.00 in a research note published on Tuesday morning, MarketBeat reports. The firm currently has an overweight rating on the stock.

RYAN has been the topic of several other research reports. Wall Street Zen upgraded shares of Ryan Specialty from a “sell” rating to a “hold” rating in a research note on Sunday, August 3rd. Barclays dropped their price target on shares of Ryan Specialty from $83.00 to $79.00 and set an “overweight” rating on the stock in a research note on Monday, July 7th. Weiss Ratings restated a “hold (c-)” rating on shares of Ryan Specialty in a research note on Saturday, September 27th. Cantor Fitzgerald upgraded shares of Ryan Specialty to a “hold” rating in a research note on Wednesday, August 13th. Finally, Wolfe Research raised shares of Ryan Specialty to a “strong-buy” rating in a report on Tuesday, September 16th. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, Ryan Specialty has a consensus rating of “Moderate Buy” and an average price target of $73.67.

Ryan Specialty Stock Up 0.7%

Ryan Specialty stock opened at $58.25 on Tuesday. The firm has a market cap of $15.36 billion, a PE ratio of 166.44, a P/E/G ratio of 1.61 and a beta of 0.63. The company has a debt-to-equity ratio of 2.88, a quick ratio of 1.01 and a current ratio of 1.01. The firm’s 50 day moving average price is $56.48 and its two-hundred day moving average price is $64.30. Ryan Specialty has a twelve month low of $50.08 and a twelve month high of $77.16.

Ryan Specialty (NYSE:RYAN) last released its quarterly earnings data 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 firm had revenue of $855.17 million for the quarter, compared to analyst estimates of $837.52 million. During the same quarter in the prior year, the business earned $0.58 EPS. The company’s revenue for the quarter was up 23.0% compared to the same quarter last year. On average, research analysts predict that Ryan Specialty will post 2.29 EPS for the current fiscal year.

Ryan Specialty Announces Dividend

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

Insiders Place Their Bets

In related news, Chairman Patrick G. Ryan purchased 276,634 shares of the firm’s stock in a transaction on Friday, September 12th. The shares were bought at an average cost of $51.84 per share, for a total transaction of $14,340,706.56. Following 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 legal filing with the SEC, which is accessible through the SEC website. 52.21% of the stock is currently owned by company insiders.

Institutional Trading of Ryan Specialty

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Whittier Trust Co. of Nevada Inc. grew its position in Ryan Specialty by 281.6% in 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 during the last quarter. SVB Wealth LLC bought a new position in shares of Ryan Specialty during the 1st quarter worth about $26,000. WPG Advisers LLC bought a new position in shares of Ryan Specialty during the 1st quarter worth about $32,000. Golden State Wealth Management LLC lifted its holdings in shares of Ryan Specialty by 10,975.0% during the 2nd quarter. Golden State Wealth Management LLC now owns 443 shares of the company’s stock worth $30,000 after acquiring an additional 439 shares during the period. Finally, Central Pacific Bank Trust Division bought a new position in shares of Ryan Specialty during the 2nd quarter worth about $31,000. 84.82% of the stock is currently owned by institutional investors and hedge funds.

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.