Ryan Specialty (NYSE:RYAN) Now Covered by Royal Bank Of Canada

Royal Bank Of Canada assumed coverage on shares of Ryan Specialty (NYSE:RYAN) in a research note published on Tuesday morning, MarketBeat.com reports. The brokerage issued an outperform rating and a $45.00 price objective on the stock.

A number of other equities analysts have also recently commented on the stock. Zacks Research cut shares of Ryan Specialty from a “hold” rating to a “strong sell” rating in a research note on Tuesday, February 24th. Wells Fargo & Company lowered their price target on shares of Ryan Specialty from $63.00 to $56.00 and set an “overweight” rating for the company in a report on Friday, February 13th. Jefferies Financial Group assumed coverage on Ryan Specialty in a research report on Monday, December 1st. They issued a “hold” rating and a $64.00 price target for the company. Morgan Stanley reduced their price objective on Ryan Specialty from $61.00 to $55.00 and set an “overweight” rating on the stock in a research note on Monday, February 23rd. Finally, Barclays decreased their price objective on Ryan Specialty from $52.00 to $45.00 and set an “overweight” rating on the stock in a research report on Wednesday, March 11th. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, five have issued a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $55.69.

Ryan Specialty Stock Down 0.4%

NYSE RYAN opened at $36.02 on Tuesday. The stock has a 50 day moving average price of $44.00 and a 200-day moving average price of $50.82. Ryan Specialty has a one year low of $35.84 and a one year high of $77.16. The company has a debt-to-equity ratio of 2.62, a quick ratio of 0.98 and a current ratio of 0.98. The company has a market capitalization of $9.52 billion, a P/E ratio of 85.77, a P/E/G ratio of 0.94 and a beta of 0.65.

Ryan Specialty (NYSE:RYAN) last announced its quarterly earnings results 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). The business had revenue of $751.21 million during the quarter, compared to the consensus estimate of $777.43 million. Ryan Specialty had a return on equity of 46.41% and a net margin of 7.02%.The company’s revenue for the quarter was up 13.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.45 EPS. As a group, equities analysts predict that Ryan Specialty will post 2.29 EPS for the current fiscal year.

Ryan Specialty Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 10th. Stockholders of record on Tuesday, February 24th were paid a $0.13 dividend. The ex-dividend date was Tuesday, February 24th. This is an increase from Ryan Specialty’s previous quarterly dividend of $0.12. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.4%. Ryan Specialty’s dividend payout ratio (DPR) is currently 123.81%.

Insider Activity

In other Ryan Specialty news, Director Patrick G. Ryan, Jr. bought 25,500 shares of Ryan Specialty stock in a transaction that occurred on Monday, February 23rd. The stock was 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 in the company, valued at approximately $17,114,668.20. This trade represents a 6.33% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 52.21% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Ryan Specialty

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Ameritas Investment Partners Inc. raised its stake in shares of Ryan Specialty by 0.9% during the 3rd quarter. Ameritas Investment Partners Inc. now owns 21,119 shares of the company’s stock valued at $1,190,000 after buying an additional 185 shares during the last quarter. MAI Capital Management boosted its stake in shares of Ryan Specialty by 65.3% in the second quarter. MAI Capital Management now owns 476 shares of the company’s stock worth $32,000 after buying an additional 188 shares during the last quarter. Baker Tilly Wealth Management LLC grew its holdings in Ryan Specialty by 5.6% during the third quarter. Baker Tilly Wealth Management LLC now owns 3,595 shares of the company’s stock worth $203,000 after acquiring an additional 192 shares during the period. Public Employees Retirement System of Ohio grew its holdings in Ryan Specialty by 0.6% during the third quarter. Public Employees Retirement System of Ohio now owns 32,797 shares of the company’s stock worth $1,848,000 after acquiring an additional 203 shares during the period. Finally, Covestor Ltd raised its position in Ryan Specialty by 16.8% during the fourth quarter. Covestor Ltd now owns 1,467 shares of the company’s stock valued at $76,000 after acquiring an additional 211 shares in the last quarter. 84.82% of the stock is owned by institutional investors and hedge funds.

Ryan Specialty Company Profile

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.