Ryan Specialty (NYSE:RYAN) Price Target Lowered to $50.00 at Morgan Stanley

Ryan Specialty (NYSE:RYAN) had its price target reduced by Morgan Stanley from $55.00 to $50.00 in a research note published on Monday,Benzinga reports. They currently have an overweight rating on the stock.

Several other brokerages have also issued reports on RYAN. The Goldman Sachs Group set a $61.00 target price on shares of Ryan Specialty in a research report on Wednesday, January 7th. JPMorgan Chase & Co. dropped 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. Barclays dropped their target price on shares of Ryan Specialty from $52.00 to $45.00 and set an “overweight” rating on the stock in a research report on Wednesday, March 11th. Wells Fargo & Company dropped their target price on shares of Ryan Specialty from $63.00 to $56.00 and set an “overweight” rating on the stock in a research report on Friday, February 13th. Finally, Royal Bank Of Canada began coverage on shares of Ryan Specialty in a research report on Tuesday, March 17th. They issued an “outperform” rating and a $45.00 target price on the stock. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, five have given a Hold rating and three have assigned a Sell rating to the company’s stock. According to data from MarketBeat, Ryan Specialty currently has an average rating of “Hold” and an average target price of $54.19.

Ryan Specialty Stock Up 2.0%

RYAN opened at $34.17 on Monday. Ryan Specialty has a fifty-two week low of $31.50 and a fifty-two week high of $75.26. 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 fifty day moving average of $39.24 and a two-hundred day moving average of $48.87. The stock has a market capitalization of $9.03 billion, a price-to-earnings ratio of 81.35, a PEG ratio of 0.88 and a beta of 0.71.

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 analysts’ consensus estimates 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 analysts’ expectations of $777.43 million. During the same period in the previous year, the firm posted $0.45 EPS. The firm’s quarterly revenue was up 13.2% on a year-over-year basis. On average, research analysts expect that Ryan Specialty will post 2.29 earnings per share for the current year.

Ryan Specialty Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 10th. Investors of record on Tuesday, February 24th were given a dividend of $0.13 per share. The ex-dividend date was Tuesday, February 24th. This is a boost from Ryan Specialty’s previous quarterly dividend of $0.12. This represents a $0.52 dividend on an annualized basis and a yield of 1.5%. Ryan Specialty’s dividend payout ratio (DPR) is presently 123.81%.

Insiders Place Their Bets

In other Ryan Specialty news, Director Patrick G. Ryan, Jr. purchased 25,500 shares of the stock in a transaction that occurred on Monday, February 23rd. The shares were purchased at an average cost of $39.96 per share, for a total transaction of $1,018,980.00. Following the completion of the transaction, the director owned 428,295 shares of the company’s stock, valued at $17,114,668.20. The trade was a 6.33% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 52.21% of the company’s stock.

Hedge Funds Weigh In On Ryan Specialty

A number of institutional investors and hedge funds have recently bought and sold shares of the business. T. Rowe Price Investment Management Inc. boosted its position in Ryan Specialty by 79.9% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 7,552,002 shares of the company’s stock worth $389,910,000 after acquiring an additional 3,353,926 shares during the last quarter. Capital World Investors boosted its position in Ryan Specialty by 0.3% during the fourth quarter. Capital World Investors now owns 6,640,638 shares of the company’s stock worth $342,856,000 after acquiring an additional 17,082 shares during the last quarter. Vulcan Value Partners LLC boosted its position in Ryan Specialty by 631.7% during the fourth quarter. Vulcan Value Partners LLC now owns 4,621,079 shares of the company’s stock worth $238,536,000 after acquiring an additional 3,989,502 shares during the last quarter. Principal Financial Group Inc. boosted its position in Ryan Specialty by 21.1% during the third quarter. Principal Financial Group Inc. now owns 4,392,717 shares of the company’s stock worth $247,576,000 after acquiring an additional 765,428 shares during the last quarter. Finally, Montrusco Bolton Investments Inc. boosted its position in Ryan Specialty by 9.3% during the fourth quarter. Montrusco Bolton Investments Inc. now owns 4,343,116 shares of the company’s stock worth $218,010,000 after acquiring an additional 368,247 shares during the last quarter. 84.82% of the stock is currently 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.