JPMorgan Chase & Co. Cuts Ryan Specialty (NYSE:RYAN) Price Target to $43.00

Ryan Specialty (NYSE:RYAN) had its price objective cut by JPMorgan Chase & Co. from $49.00 to $43.00 in a report released on Thursday morning,Benzinga reports. They currently have an underweight rating on the stock.

Several other analysts also recently issued reports on the company. The Goldman Sachs Group reduced their price objective on Ryan Specialty from $57.00 to $49.00 and set a “buy” rating on the stock in a research report on Wednesday. Piper Sandler reduced their price objective on Ryan Specialty from $58.00 to $43.00 and set a “neutral” rating on the stock in a research report on Friday, February 13th. BMO Capital Markets downgraded Ryan Specialty from an “outperform” rating to a “market perform” rating and reduced their price objective for the company from $66.00 to $43.00 in a research report on Wednesday, February 25th. Morgan Stanley reduced their price objective on Ryan Specialty from $55.00 to $50.00 and set an “overweight” rating on the stock in a research report on Monday, April 6th. Finally, Wells Fargo & Company reduced their price objective on Ryan Specialty from $56.00 to $42.00 and set an “overweight” rating on the stock in a research report on Thursday. 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 given a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $50.44.

Ryan Specialty Price Performance

Ryan Specialty stock opened at $34.46 on Thursday. Ryan Specialty has a 52 week low of $31.50 and a 52 week high of $75.26. 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 firm’s 50-day simple moving average is $38.21 and its 200 day simple moving average is $48.36. The firm has a market capitalization of $9.10 billion, a PE ratio of 82.05, a P/E/G ratio of 0.92 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 EPS for the quarter, missing the consensus estimate of $0.50 by ($0.05). Ryan Specialty had a return on equity of 46.41% and a net margin of 7.02%.The business had revenue of $751.21 million during the quarter, compared to analysts’ expectations of $777.43 million. During the same quarter in the prior year, the firm earned $0.45 earnings per share. Ryan Specialty’s quarterly revenue was up 13.2% on a year-over-year basis. On average, equities research analysts predict that Ryan Specialty will post 2.29 EPS for the current fiscal year.

Ryan Specialty Increases Dividend

The firm also recently announced 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 represents a $0.52 annualized dividend and a yield of 1.5%. This is a boost from Ryan Specialty’s previous quarterly dividend of $0.12. The ex-dividend date was Tuesday, February 24th. Ryan Specialty’s dividend payout ratio (DPR) is currently 123.81%.

Insiders Place Their Bets

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 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. This represents a 6.33% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 52.03% of the company’s stock.

Hedge Funds Weigh In On Ryan Specialty

Several large investors have recently added to or reduced their stakes in RYAN. Vulcan Value Partners LLC raised its holdings in shares of Ryan Specialty by 631.7% in the 4th quarter. Vulcan Value Partners LLC now owns 4,621,079 shares of the company’s stock worth $238,536,000 after purchasing an additional 3,989,502 shares during the period. T. Rowe Price Investment Management Inc. raised its holdings in shares of 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 worth $389,910,000 after purchasing an additional 3,353,926 shares during the period. Independent Franchise Partners LLP purchased a new position in shares of Ryan Specialty in the 3rd quarter worth about $95,798,000. Adage Capital Partners GP L.L.C. raised its holdings in shares of 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 worth $83,124,000 after purchasing an additional 1,510,000 shares during the period. Finally, Champlain Investment Partners LLC raised its holdings in shares of Ryan Specialty by 76.9% in the 3rd quarter. Champlain Investment Partners LLC now owns 3,066,011 shares of the company’s stock worth $172,800,000 after purchasing an additional 1,332,773 shares during the period. 84.82% of the stock is currently 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.