Ryan Specialty (NYSE:RYAN) Now Covered by Analysts at TD Cowen

TD Cowen began coverage on shares of Ryan Specialty (NYSE:RYAN) in a research report report published on Thursday morning, Marketbeat reports. The firm issued a buy rating and a $89.00 price target on the stock.

Several other equities analysts have also recently weighed in on the company. Keefe, Bruyette & Woods cut their price objective on Ryan Specialty from $76.00 to $75.00 and set an “outperform” rating on the stock in a report on Wednesday. Wells Fargo & Company upped their price target on shares of Ryan Specialty from $64.00 to $69.00 and gave the company an “equal weight” rating in a report on Friday, February 21st. Royal Bank of Canada dropped their price objective on shares of Ryan Specialty from $73.00 to $72.00 and set a “sector perform” rating on the stock in a report on Friday, February 21st. Finally, UBS Group boosted their price objective on shares of Ryan Specialty from $82.00 to $84.00 and gave the company a “buy” rating in a research report on Wednesday, February 26th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, Ryan Specialty has an average rating of “Hold” and a consensus target price of $76.08.

Ryan Specialty Stock Up 1.7 %

Ryan Specialty stock opened at $71.92 on Thursday. Ryan Specialty has a fifty-two week low of $48.48 and a fifty-two week high of $77.16. The company has a debt-to-equity ratio of 2.40, a current ratio of 1.01 and a quick ratio of 1.01. The firm has a market capitalization of $18.84 billion, a price-to-earnings ratio of 104.23, a PEG ratio of 1.19 and a beta of 0.66. The company’s 50 day simple moving average is $69.96 and its 200 day simple moving average is $68.82.

Ryan Specialty (NYSE:RYAN) last announced its quarterly earnings results on Thursday, February 20th. The company reported $0.45 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.47 by ($0.02). The firm had revenue of $663.53 million during the quarter, compared to analyst estimates of $658.80 million. Ryan Specialty had a net margin of 9.14% and a return on equity of 48.01%. As a group, sell-side analysts anticipate that Ryan Specialty will post 2.29 EPS for the current year.

Ryan Specialty Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 18th. Stockholders of record on Tuesday, March 4th were given a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.67%. This is a boost from Ryan Specialty’s previous quarterly dividend of $0.11. The ex-dividend date was Tuesday, March 4th. Ryan Specialty’s dividend payout ratio (DPR) is presently 69.57%.

Insider Buying and Selling at Ryan Specialty

In other news, EVP Brendan Martin Mulshine sold 30,000 shares of the company’s stock in a transaction on Friday, March 14th. The stock was sold at an average price of $69.30, for a total transaction of $2,079,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Nicholas Dominic Cortezi sold 35,000 shares of the firm’s stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $65.99, for a total transaction of $2,309,650.00. Following the completion of the transaction, the director now directly owns 35,609 shares in the company, valued at approximately $2,349,837.91. This represents a 49.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 241,360 shares of company stock valued at $16,006,428 in the last three months. 11.10% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Ryan Specialty

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Rakuten Securities Inc. bought a new stake in shares of Ryan Specialty during the 4th quarter worth $27,000. Kapitalo Investimentos Ltda acquired a new position in Ryan Specialty during the fourth quarter worth about $36,000. Principal Securities Inc. lifted its holdings in shares of Ryan Specialty by 164.7% in the fourth quarter. Principal Securities Inc. now owns 667 shares of the company’s stock worth $43,000 after acquiring an additional 415 shares during the last quarter. Mizuho Bank Ltd. acquired a new stake in shares of Ryan Specialty in the 4th quarter valued at approximately $49,000. Finally, Headlands Technologies LLC grew its holdings in shares of Ryan Specialty by 2,644.8% during the 4th quarter. Headlands Technologies LLC now owns 796 shares of the company’s stock valued at $51,000 after purchasing an additional 767 shares during the last quarter. 84.82% of the stock is currently owned by institutional investors.

About Ryan Specialty

Ryan Specialty Holdings, Inc operates as a service provider of specialty products and solutions for insurance brokers, agents, and carriers in the United States, Canada, the United Kingdom, Europe, and Singapore. It offers distribution, underwriting, product development, administration, and risk management services by acting as a wholesale broker and a managing underwriter.