Wells Fargo & Company Cuts Ryan Specialty (NYSE:RYAN) Price Target to $42.00

Ryan Specialty (NYSE:RYAN) had its price target decreased by Wells Fargo & Company from $56.00 to $42.00 in a research report released on Thursday,Benzinga reports. Wells Fargo & Company currently has an overweight rating on the stock.

A number of other research analysts also recently issued reports on RYAN. Cantor Fitzgerald cut their price target on Ryan Specialty from $45.00 to $40.00 and set a “neutral” rating on the stock in a report on Thursday. Citigroup dropped their target price on Ryan Specialty from $60.00 to $55.00 and set a “buy” rating on the stock in a research note on Monday, March 23rd. JPMorgan Chase & Co. dropped their target price on Ryan Specialty from $63.00 to $56.00 and set an “underweight” rating on the stock in a research note on Wednesday, January 7th. Zacks Research downgraded Ryan Specialty from a “hold” rating to a “strong sell” rating in a research note on Tuesday, February 24th. Finally, Royal Bank Of Canada initiated coverage on Ryan Specialty in a research note on Tuesday, March 17th. They set 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 issued a Buy rating, five have assigned a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat.com, Ryan Specialty has a consensus rating of “Hold” and an average target price of $50.44.

Ryan Specialty Trading Down 1.2%

Shares of NYSE:RYAN opened at $34.46 on Thursday. Ryan Specialty has a 12-month low of $31.50 and a 12-month high of $75.26. The business’s fifty day simple moving average is $38.21 and its 200-day simple moving average is $48.36. The company 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. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 2.62.

Ryan Specialty (NYSE:RYAN) last announced its quarterly earnings results on Thursday, February 12th. The company reported $0.45 earnings per share (EPS) 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 company 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 business posted $0.45 earnings per share. The company’s revenue was up 13.2% compared to the same quarter last year. As a group, equities research analysts predict that Ryan Specialty will post 2.29 earnings per share for the current fiscal 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 paid a $0.13 dividend. The ex-dividend date was Tuesday, February 24th. This represents a $0.52 annualized dividend and a dividend yield of 1.5%. This is a boost from Ryan Specialty’s previous quarterly dividend of $0.12. Ryan Specialty’s dividend payout ratio (DPR) is presently 123.81%.

Insider Buying and Selling at Ryan Specialty

In other Ryan Specialty news, Director Patrick G. Ryan, Jr. purchased 25,500 shares of the business’s stock in a transaction that occurred on Monday, February 23rd. The stock was purchased at an average price of $39.96 per share, for a total transaction of $1,018,980.00. Following the purchase, 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 ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 52.03% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Ryan Specialty

Several institutional investors and hedge funds have recently modified their holdings of the business. Westview Management dba Westview Investment Advisors purchased a new stake in shares of Ryan Specialty in the fourth quarter valued at approximately $2,082,000. JPMorgan Chase & Co. grew its position in shares of Ryan Specialty by 149.7% in the third quarter. JPMorgan Chase & Co. now owns 421,330 shares of the company’s stock valued at $23,746,000 after purchasing an additional 252,582 shares in the last quarter. Beck Mack & Oliver LLC purchased a new stake in shares of Ryan Specialty in the third quarter valued at approximately $2,818,000. Geneva Capital Management LLC grew its position in shares of Ryan Specialty by 11.2% in the third quarter. Geneva Capital Management LLC now owns 535,742 shares of the company’s stock valued at $30,194,000 after purchasing an additional 53,810 shares in the last quarter. Finally, TD Asset Management Inc grew its position in shares of Ryan Specialty by 2,181.8% in the third quarter. TD Asset Management Inc now owns 205,133 shares of the company’s stock valued at $11,561,000 after purchasing an additional 196,143 shares in the last quarter. Hedge funds and other institutional investors own 84.82% of the company’s stock.

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.