Ryan Specialty (NYSE:RYAN) Cut to Strong Sell at Zacks Research

Zacks Research cut shares of Ryan Specialty (NYSE:RYAN) from a hold rating to a strong sell rating in a report issued on Tuesday,Zacks.com reports.

RYAN has been the subject of a number of other reports. 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 research report on Friday, February 13th. BMO Capital Markets lowered shares of Ryan Specialty from an “outperform” rating to a “market perform” rating and lowered their target price for the company from $66.00 to $43.00 in a report on Wednesday. Barclays cut their price target on Ryan Specialty from $58.00 to $52.00 and set an “overweight” rating on the stock in a research note on Friday, February 13th. UBS Group lowered their price target on Ryan Specialty from $71.00 to $65.00 and set a “buy” rating for the company in a research report on Tuesday, February 17th. Finally, Mizuho set a $53.00 price objective on shares of Ryan Specialty in a research report on Friday, February 13th. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, five have assigned a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $57.47.

Ryan Specialty Stock Performance

Ryan Specialty stock opened at $39.22 on Tuesday. The stock’s 50 day simple moving average is $47.66 and its two-hundred day simple moving average is $52.81. 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 stock has a market cap of $10.36 billion, a price-to-earnings ratio of 93.38, a PEG ratio of 0.99 and a beta of 0.62. Ryan Specialty has a fifty-two week low of $37.29 and a fifty-two week high of $77.16.

Ryan Specialty (NYSE:RYAN) last released its earnings results 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 during the quarter, compared to analysts’ expectations of $777.43 million. Ryan Specialty had a net margin of 7.02% and a return on equity of 46.41%. The company’s revenue for the quarter was up 13.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.45 EPS. As a group, analysts expect that Ryan Specialty will post 2.29 earnings per share for the current fiscal year.

Ryan Specialty Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 10th. Stockholders of record on Tuesday, February 24th will be paid a $0.13 dividend. This is an increase from Ryan Specialty’s previous quarterly dividend of $0.12. The ex-dividend date is Tuesday, February 24th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.3%. Ryan Specialty’s dividend payout ratio (DPR) is 123.81%.

Insider Buying and Selling at Ryan Specialty

In other Ryan Specialty news, Director Patrick G. Ryan, Jr. acquired 25,500 shares of the stock in a transaction dated Monday, February 23rd. The shares were 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 of the company’s stock, 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 filing with the SEC, which is accessible through this link. Also, CEO Timothy William Turner sold 129,570 shares of the business’s stock in a transaction that occurred on Friday, December 12th. The shares were sold at an average price of $53.61, for a total transaction of $6,946,247.70. Following the sale, the chief executive officer owned 12,553 shares of the company’s stock, valued at $672,966.33. This trade represents a 91.17% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 52.21% of the company’s stock.

Institutional Trading of Ryan Specialty

Hedge funds and other institutional investors have recently modified their holdings of the company. Ameritas Investment Partners Inc. lifted 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 in the last quarter. MAI Capital Management lifted its position in shares of Ryan Specialty by 65.3% in the second quarter. MAI Capital Management now owns 476 shares of the company’s stock valued at $32,000 after acquiring an additional 188 shares in the last quarter. Baker Tilly Wealth Management LLC boosted its stake in shares of Ryan Specialty by 5.6% in 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 boosted its stake in shares of Ryan Specialty by 0.6% in 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 grew its position in shares of Ryan Specialty by 16.8% during the fourth quarter. Covestor Ltd now owns 1,467 shares of the company’s stock worth $76,000 after purchasing an additional 211 shares in the last quarter. 84.82% of the stock is owned by hedge funds and other institutional investors.

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.