Ryan Specialty (NYSE:RYAN) Given New $55.00 Price Target at Citigroup

Ryan Specialty (NYSE:RYAN) had its price objective decreased by Citigroup from $60.00 to $55.00 in a research note published on Monday morning,Benzinga reports. Citigroup currently has a buy rating on the stock.

Several other analysts have also recently commented on the company. Zacks Research cut Ryan Specialty from a “hold” rating to a “strong sell” rating in a research report on Tuesday, February 24th. Wells Fargo & Company lowered their price objective 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. BMO Capital Markets lowered shares of Ryan Specialty from an “outperform” rating to a “market perform” rating and dropped their price objective for the company from $66.00 to $43.00 in a research note on Wednesday, February 25th. Cantor Fitzgerald cut their target price on shares of Ryan Specialty from $52.00 to $45.00 and set a “neutral” rating for the company in a research report on Tuesday, February 17th. Finally, UBS Group decreased their target price on shares of Ryan Specialty from $71.00 to $65.00 and set a “buy” rating for the company in a research note on Tuesday, February 17th. One equities research 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 assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $54.50.

Ryan Specialty Trading Down 0.3%

Shares of RYAN stock opened at $34.58 on Monday. The stock has a 50-day simple moving average of $42.73 and a 200 day simple moving average of $50.24. Ryan Specialty has a fifty-two week low of $33.94 and a fifty-two week high of $77.16. The stock has a market capitalization of $9.13 billion, a P/E ratio of 82.32, a P/E/G ratio of 0.91 and a beta of 0.66. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 2.62.

Ryan Specialty (NYSE:RYAN) last posted its quarterly earnings results on Thursday, February 12th. The company reported $0.45 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.50 by ($0.05). The business had revenue of $751.21 million during 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% compared to the same quarter last year. During the same quarter last year, the firm posted $0.45 EPS. On average, sell-side analysts expect that Ryan Specialty will post 2.29 earnings per share for the current fiscal year.

Ryan Specialty Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 10th. Shareholders of record on Tuesday, February 24th were given a $0.13 dividend. This is a positive change from Ryan Specialty’s previous quarterly dividend of $0.12. This represents a $0.52 annualized dividend and a yield of 1.5%. The ex-dividend date of this dividend was Tuesday, February 24th. Ryan Specialty’s payout ratio is presently 123.81%.

Insider Activity 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 dated Monday, February 23rd. The shares were acquired at an average price of $39.96 per share, for a total transaction of $1,018,980.00. Following the acquisition, the director owned 428,295 shares of the company’s stock, valued at $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 SEC, which can be accessed through the SEC website. 52.21% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Ryan Specialty

Several hedge funds have recently bought and sold shares of RYAN. T. Rowe Price Investment Management Inc. boosted its stake in shares of Ryan Specialty by 79.9% during 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 acquiring an additional 3,353,926 shares in the last quarter. Capital World Investors raised its stake in shares of Ryan Specialty by 0.3% in the 4th quarter. Capital World Investors now owns 6,640,638 shares of the company’s stock valued at $342,856,000 after acquiring an additional 17,082 shares in the last quarter. Vulcan Value Partners LLC lifted its holdings 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 worth $238,536,000 after purchasing an additional 3,989,502 shares during the last quarter. Principal Financial Group Inc. lifted its holdings in Ryan Specialty by 21.1% in the 3rd quarter. Principal Financial Group Inc. now owns 4,392,717 shares of the company’s stock worth $247,576,000 after purchasing 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 purchasing an additional 368,247 shares during the period. 84.82% of the stock is 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.