Ryan Specialty (NYSE:RYAN) Price Target Raised to $46.00

Ryan Specialty (NYSE:RYAN) had its target price raised by Wells Fargo & Company from $41.00 to $46.00 in a research note released on Monday,Benzinga reports. They currently have an equal weight rating on the stock.

Several other analysts also recently weighed in on the company. JPMorgan Chase & Co. lifted their price objective on Ryan Specialty from $39.00 to $45.00 and gave the company an “underweight” rating in a report on Monday, August 3rd. Cantor Fitzgerald raised their target price on shares of Ryan Specialty from $34.00 to $41.00 and gave the company a “neutral” rating in a research report on Monday, August 3rd. Citigroup boosted their price target on shares of Ryan Specialty from $50.00 to $53.50 and gave the company a “buy” rating in a report on Monday, August 3rd. Weiss Ratings raised shares of Ryan Specialty from a “hold (c-)” rating to a “hold (c)” rating in a research report on Friday, September 18th. Finally, Morgan Stanley upped their price target on shares of Ryan Specialty from $48.00 to $50.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 19th. Eight analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $52.15.

Ryan Specialty Trading Up 3.8%

RYAN opened at $47.45 on Monday. The stock’s fifty day moving average is $40.56 and its two-hundred day moving average is $39.10. The company has a market capitalization of $12.14 billion, a P/E ratio of 58.59, a PEG ratio of 0.97 and a beta of 0.54. Ryan Specialty has a 52 week low of $29.28 and a 52 week high of $58.94. The company has a quick ratio of 1.00, a current ratio of 1.01 and a debt-to-equity ratio of 4.03.

Ryan Specialty (NYSE:RYAN) last issued its earnings results on Thursday, October 29th. The company reported $0.51 earnings per share for the quarter, topping the consensus estimate of $0.49 by $0.02. Ryan Specialty had a return on equity of 47.77% and a net margin of 8.25%. The business had revenue of $789.96 million during the quarter, compared to analysts’ expectations of $792.99 million. During the same period in the prior year, the business earned $0.47 EPS. Analysts forecast that Ryan Specialty will post 2.17 earnings per share for the current year.

Ryan Specialty Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 24th. Investors of record on Tuesday, November 10th will be paid a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date is Tuesday, November 10th. Ryan Specialty’s dividend payout ratio is 64.20%.

Hedge Funds Weigh In On Ryan Specialty

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Vulcan Value Partners LLC boosted its stake in Ryan Specialty by 20.0% in the second quarter. Vulcan Value Partners LLC now owns 7,912,669 shares of the company’s stock valued at $298,782,000 after acquiring an additional 1,317,334 shares in the last quarter. Renaissance Technologies LLC grew its holdings in Ryan Specialty by 1,374.2% in the first quarter. Renaissance Technologies LLC now owns 536,600 shares of the company’s stock worth $18,105,000 after purchasing an additional 500,200 shares during the last quarter. Bank of America Corp DE increased its position in shares of Ryan Specialty by 34.8% during the first quarter. Bank of America Corp DE now owns 1,508,083 shares of the company’s stock worth $50,883,000 after purchasing an additional 389,505 shares in the last quarter. Clarkston Capital Partners LLC acquired a new position in shares of Ryan Specialty during the first quarter worth $10,187,000. Finally, Confluence Investment Management LLC acquired a new position in shares of Ryan Specialty during the second quarter worth $7,137,000. Hedge funds and other institutional investors own 84.82% of the company’s stock.

Ryan Specialty Company Profile

Ryan Specialty Holdings, Inc is a specialty insurance services company that provides wholesale brokerage, managing general underwriting and delegated authority solutions. The company works with retail insurance brokers, agents, carriers and other market participants to place and manage complex, specialty risks that may require specialized underwriting expertise or customized coverage.

Its business includes specialty insurance and reinsurance brokerage, underwriting management and insurance program administration.