Ryan Specialty (NYSE:RYAN) Stock Gets Price Target Cut from Wells Fargo & Company

Ryan Specialty (NYSE:RYAN) had its target price cut by Wells Fargo & Company from $43.00 to $41.00 in a research report sent to investors on Monday morning,Benzinga reports. They currently have an equal weight rating on the stock.

Other research analysts have also issued reports about the company. The Goldman Sachs Group raised their target price on Ryan Specialty from $40.00 to $45.00 and gave the stock a “neutral” rating in a research report on Friday, July 31st. Weiss Ratings upgraded Ryan Specialty from a “hold (c-)” rating to a “hold (c)” rating in a research report on Friday, September 18th. JPMorgan Chase & Co. upped their price target on Ryan Specialty from $39.00 to $45.00 and gave the company an “underweight” rating in a research report on Monday, August 3rd. Keefe, Bruyette & Woods increased their price target on Ryan Specialty from $48.00 to $54.00 and gave the company an “outperform” rating in a research note on Friday, July 31st. Finally, Morgan Stanley increased their price target on Ryan Specialty from $48.00 to $50.00 and gave the company an “overweight” rating in a research note on Wednesday, August 19th. Eight equities research analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $52.21.

Ryan Specialty Trading Up 0.4%

Shares of NYSE RYAN opened at $37.99 on Monday. The firm has a 50 day moving average price of $40.38 and a two-hundred day moving average price of $37.75. The stock has a market cap of $9.72 billion, a P/E ratio of 52.77, a price-to-earnings-growth ratio of 0.78 and a beta of 0.61. Ryan Specialty has a 52-week low of $29.28 and a 52-week high of $58.94. The company has a debt-to-equity ratio of 3.51, a quick ratio of 1.00 and a current ratio of 1.00.

Ryan Specialty (NYSE:RYAN) last issued its quarterly earnings results on Thursday, July 30th. The company reported $0.74 EPS for the quarter, topping analysts’ consensus estimates of $0.60 by $0.14. Ryan Specialty had a net margin of 7.55% and a return on equity of 43.97%. The company had revenue of $916.65 million for the quarter, compared to analyst estimates of $873.93 million. During the same quarter in the previous year, the business earned $0.66 earnings per share. Ryan Specialty’s revenue was up 7.2% compared to the same quarter last year. As a group, equities analysts forecast that Ryan Specialty will post 2.17 EPS for the current year.

Ryan Specialty Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, August 25th. Investors of record on Tuesday, August 11th were given a dividend of $0.13 per share. The ex-dividend date was Tuesday, August 11th. This represents a $0.52 annualized dividend and a dividend yield of 1.4%. Ryan Specialty’s dividend payout ratio is presently 72.22%.

Institutional Investors Weigh In On Ryan Specialty

Several large investors have recently added to or reduced their stakes in RYAN. Fortitude Family Office LLC bought a new position in shares of Ryan Specialty during the 3rd quarter worth about $34,000. GAMMA Investing LLC raised its stake in Ryan Specialty by 30.5% during the 3rd quarter. GAMMA Investing LLC now owns 2,749 shares of the company’s stock worth $102,000 after buying an additional 642 shares during the period. Farther Finance Advisors LLC raised its stake in Ryan Specialty by 464.1% during the 3rd quarter. Farther Finance Advisors LLC now owns 3,599 shares of the company’s stock worth $133,000 after buying an additional 2,961 shares during the period. Fenimore Asset Management Inc raised its stake in Ryan Specialty by 1.8% during the 3rd quarter. Fenimore Asset Management Inc now owns 1,330,600 shares of the company’s stock worth $49,232,000 after buying an additional 23,994 shares during the period. Finally, Confluence Investment Management LLC boosted its holdings in Ryan Specialty by 64.6% in the third quarter. Confluence Investment Management LLC now owns 311,140 shares of the company’s stock worth $11,512,000 after acquiring an additional 122,139 shares in the last quarter. Institutional investors and hedge funds own 84.82% of the company’s stock.

About Ryan Specialty

Ryan Specialty Holdings, Inc is a specialty insurance services company that supports insurance brokers, agents, carriers and other industry participants. Its businesses focus on areas of the market that often require specialized underwriting expertise, distribution capabilities and risk-management knowledge.

The company operates through wholesale brokerage, underwriting management and delegated authority platforms. Its products and services address a range of specialty lines, including property and casualty insurance, professional liability, cyber coverage, transactional risk, transportation, environmental risks and other complex or hard-to-place exposures.

Ryan Specialty was founded in 2010 by Patrick G.