Cantor Fitzgerald Cuts Ryan Specialty (NYSE:RYAN) Price Target to $40.00

Ryan Specialty (NYSE:RYAN) had its price target cut by Cantor Fitzgerald from $45.00 to $40.00 in a research note released on Thursday, MarketBeat Ratings reports. They currently have a neutral rating on the stock.

A number of other analysts also recently commented on RYAN. Royal Bank Of Canada initiated coverage on Ryan Specialty in a report on Tuesday, March 17th. They set an “outperform” rating and a $45.00 price objective for the company. Barclays dropped their price objective on Ryan Specialty from $45.00 to $41.00 and set an “overweight” rating for the company in a report on Wednesday. Keefe, Bruyette & Woods dropped their price objective on Ryan Specialty from $55.00 to $49.00 and set an “outperform” rating for the company in a report on Tuesday, April 7th. The Goldman Sachs Group decreased their price target on shares of Ryan Specialty from $57.00 to $49.00 and set a “buy” rating for the company in a research report on Wednesday. Finally, Zacks Research cut shares of Ryan Specialty from a “hold” rating to a “strong sell” rating in a research report on Tuesday, February 24th. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, five have issued a Hold rating and three have given a Sell rating to the company. According to MarketBeat, Ryan Specialty presently has an average rating of “Hold” and an average price target of $50.44.

Ryan Specialty Trading Down 1.2%

RYAN stock opened at $34.46 on Thursday. The company has a market cap of $9.10 billion, a price-to-earnings ratio of 82.05, a PEG ratio of 0.92 and a beta of 0.71. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 2.62. The business has a fifty day simple moving average of $38.21 and a 200-day simple moving average of $48.36. Ryan Specialty has a 52 week low of $31.50 and a 52 week high of $75.26.

Ryan Specialty (NYSE:RYAN) last released its quarterly earnings data on Thursday, February 12th. The company reported $0.45 EPS for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.05). The firm had revenue of $751.21 million for the quarter, compared to analyst estimates of $777.43 million. Ryan Specialty had a return on equity of 46.41% and a net margin of 7.02%.The company’s quarterly revenue was up 13.2% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.45 earnings per share. On average, equities research analysts expect that Ryan Specialty will post 2.29 EPS 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. This is a positive change from Ryan Specialty’s previous quarterly dividend of $0.12. The ex-dividend date of this dividend was Tuesday, February 24th. This represents a $0.52 dividend on an annualized basis and a yield of 1.5%. Ryan Specialty’s dividend payout ratio is currently 123.81%.

Insiders Place Their Bets

In other news, Director Patrick G. Ryan, Jr. acquired 25,500 shares of the firm’s stock in a transaction on Monday, February 23rd. The stock was bought at an average cost of $39.96 per share, with a total value of $1,018,980.00. Following the transaction, the director directly owned 428,295 shares in the company, valued at approximately $17,114,668.20. This represents a 6.33% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. 52.03% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Ryan Specialty

A number of institutional investors and hedge funds have recently added to or reduced their stakes in RYAN. Vulcan Value Partners LLC boosted its position in Ryan Specialty by 631.7% in the 4th quarter. Vulcan Value Partners LLC now owns 4,621,079 shares of the company’s stock valued at $238,536,000 after buying an additional 3,989,502 shares during the last quarter. T. Rowe Price Investment Management Inc. boosted its position in Ryan Specialty by 79.9% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 7,552,002 shares of the company’s stock valued at $389,910,000 after buying an additional 3,353,926 shares during the last quarter. Independent Franchise Partners LLP purchased a new position in Ryan Specialty in the 3rd quarter valued at about $95,798,000. Adage Capital Partners GP L.L.C. boosted its position in Ryan Specialty by 1,510.0% in the 4th quarter. Adage Capital Partners GP L.L.C. now owns 1,610,000 shares of the company’s stock valued at $83,124,000 after buying an additional 1,510,000 shares during the last quarter. Finally, Champlain Investment Partners LLC boosted its position in Ryan Specialty by 76.9% in the 3rd quarter. Champlain Investment Partners LLC now owns 3,066,011 shares of the company’s stock valued at $172,800,000 after buying an additional 1,332,773 shares during the last quarter. 84.82% of the stock is owned by hedge funds and other 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.