Ryan Specialty (NYSE:RYAN) Lowered to “Market Perform” Rating by BMO Capital Markets

BMO Capital Markets lowered shares of Ryan Specialty (NYSE:RYAN) from an outperform rating to a market perform rating in a research note issued to investors on Wednesday, MarketBeat.com reports. BMO Capital Markets currently has $43.00 target price on the stock, down from their previous target price of $66.00.

Other research analysts have also recently issued research reports about the company. Wells Fargo & Company reduced their price objective on Ryan Specialty from $63.00 to $56.00 and set an “overweight” rating on the stock in a research note on Friday, February 13th. TD Cowen reissued a “buy” rating on shares of Ryan Specialty in a research report on Wednesday, November 26th. The Goldman Sachs Group set a $61.00 price objective on shares of Ryan Specialty in a research report on Wednesday, January 7th. JPMorgan Chase & Co. reduced their target price on shares of Ryan Specialty from $63.00 to $56.00 and set an “underweight” rating on the stock in a research report on Wednesday, January 7th. Finally, Piper Sandler lowered their price target on shares of Ryan Specialty from $58.00 to $43.00 and set a “neutral” rating for the company in a report on Friday, February 13th. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, five have assigned a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, Ryan Specialty has an average rating of “Moderate Buy” and an average price target of $57.47.

Ryan Specialty Stock Performance

Shares of NYSE:RYAN opened at $38.01 on Wednesday. The business has a 50-day moving average of $47.95 and a two-hundred day moving average of $52.90. The firm has a market capitalization of $10.04 billion, a PE ratio of 90.50, a P/E/G ratio of 1.02 and a beta of 0.62. The company has a debt-to-equity ratio of 2.62, a current ratio of 0.98 and a quick ratio of 0.98. Ryan Specialty has a 12 month low of $37.29 and a 12 month high of $77.16.

Ryan Specialty (NYSE:RYAN) last released its quarterly earnings data on Thursday, February 12th. The company reported $0.45 earnings per share for the quarter, missing the consensus estimate of $0.50 by ($0.05). Ryan Specialty had a net margin of 7.02% and a return on equity of 46.41%. The firm had revenue of $751.21 million during the quarter, compared to analyst estimates of $777.43 million. During the same period in the prior year, the firm earned $0.45 earnings per share. The business’s revenue for the quarter was up 13.2% on a year-over-year basis. As a group, research analysts forecast that Ryan Specialty will post 2.29 earnings per share for the current year.

Ryan Specialty Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 10th. Stockholders of record on Tuesday, February 24th will be given a $0.13 dividend. This represents a $0.52 annualized dividend and a dividend yield of 1.4%. The ex-dividend date is Tuesday, February 24th. This is a positive change from Ryan Specialty’s previous quarterly dividend of $0.12. Ryan Specialty’s payout ratio is 123.81%.

Insider Buying and Selling at Ryan Specialty

In other Ryan Specialty news, Director Patrick G. Ryan, Jr. bought 25,500 shares of the business’s stock in a transaction on Monday, February 23rd. The shares were purchased at an average price of $39.96 per share, with a total value of $1,018,980.00. Following the completion of the acquisition, the director directly owned 428,295 shares of the company’s stock, valued at approximately $17,114,668.20. The trade was a 6.33% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Timothy William Turner sold 129,570 shares of the company’s stock in a transaction that occurred on Friday, December 12th. The shares were sold at an average price of $53.61, for a total value of $6,946,247.70. Following the transaction, the chief executive officer directly owned 12,553 shares of the company’s stock, valued at $672,966.33. This trade represents a 91.17% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 52.21% of the stock is owned by insiders.

Institutional Trading of Ryan Specialty

Several hedge funds have recently bought and sold shares of RYAN. Sumitomo Mitsui Trust Group Inc. grew its stake in shares of Ryan Specialty by 2.5% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,387,108 shares of the company’s stock worth $78,177,000 after purchasing an additional 33,588 shares in the last quarter. Cooper Investors PTY Ltd. raised its stake in shares of Ryan Specialty by 33.9% during the third quarter. Cooper Investors PTY Ltd. now owns 505,374 shares of the company’s stock valued at $28,483,000 after purchasing an additional 127,892 shares in the last quarter. Marshall Wace LLP grew its position in Ryan Specialty by 142.1% in the 2nd quarter. Marshall Wace LLP now owns 380,116 shares of the company’s stock valued at $25,844,000 after buying an additional 223,124 shares in the last quarter. Waters Parkerson & CO. LLC increased its stake in Ryan Specialty by 4.3% during the 3rd quarter. Waters Parkerson & CO. LLC now owns 508,120 shares of the company’s stock valued at $28,638,000 after buying an additional 20,920 shares during the period. Finally, Sumitomo Mitsui DS Asset Management Company Ltd raised its position in shares of Ryan Specialty by 56.0% during the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 68,671 shares of the company’s stock worth $3,870,000 after buying an additional 24,656 shares in the last quarter. 84.82% of the stock is currently owned by institutional investors.

About Ryan Specialty

Ryan Specialty Group, Inc (NYSE: RYAN) is a global specialty insurance and reinsurance platform that partners with a network of insurers and reinsurers to deliver tailored risk solutions. The company focuses on complex and large-scale risks across multiple industry sectors, leveraging its underwriting expertise to structure coverage programs that meet clients’ unique needs.

Ryan Specialty’s core offerings span a diverse range of specialty lines, including casualty, property, professional liability, marine and energy, program administration, and sports and entertainment.