Ryan Specialty’s (RYAN) Outperform Rating Reaffirmed at Keefe, Bruyette & Woods

Keefe, Bruyette & Woods restated their outperform rating on shares of Ryan Specialty (NYSE:RYAN) in a report released on Tuesday, Benzinga reports. They currently have a $62.00 price target on the stock.

Other analysts also recently issued research reports about the stock. Wolfe Research downgraded shares of Ryan Specialty from an outperform rating to a peer perform rating in a report on Monday, May 6th. Wells Fargo & Company increased their price target on Ryan Specialty from $57.00 to $58.00 and gave the company an overweight rating in a report on Thursday, April 11th. Bank of America began coverage on Ryan Specialty in a research note on Wednesday, May 22nd. They set a buy rating and a $67.00 price objective on the stock. JPMorgan Chase & Co. raised their target price on Ryan Specialty from $47.00 to $49.00 and gave the stock an underweight rating in a research note on Monday, April 8th. Finally, JMP Securities reiterated a market perform rating on shares of Ryan Specialty in a report on Monday, April 15th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, Ryan Specialty presently has a consensus rating of Hold and a consensus price target of $55.67.

Ryan Specialty Stock Performance

NYSE RYAN opened at $57.46 on Tuesday. The company has a debt-to-equity ratio of 1.99, a current ratio of 1.15 and a quick ratio of 1.15. Ryan Specialty has a 1-year low of $41.49 and a 1-year high of $61.29. The company has a market cap of $14.97 billion, a PE ratio of 108.42, a price-to-earnings-growth ratio of 1.49 and a beta of 0.62. The stock’s 50 day simple moving average is $54.53 and its 200-day simple moving average is $50.18.

Ryan Specialty (NYSE:RYAN) last announced its earnings results on Thursday, May 2nd. The company reported $0.35 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.35. The company had revenue of $552.00 million for the quarter, compared to analysts’ expectations of $549.06 million. Ryan Specialty had a net margin of 9.15% and a return on equity of 45.87%. The firm’s quarterly revenue was up 20.6% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.26 EPS. As a group, equities research analysts anticipate that Ryan Specialty will post 1.77 EPS for the current fiscal year.

Ryan Specialty Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, May 28th. Shareholders of record on Tuesday, May 14th were paid a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a yield of 0.77%. The ex-dividend date was Monday, May 13th. Ryan Specialty’s dividend payout ratio (DPR) is presently 83.02%.

Institutional Investors Weigh In On Ryan Specialty

A number of institutional investors and hedge funds have recently made changes to their positions in RYAN. Citigroup Inc. raised its position in Ryan Specialty by 34.5% in the third quarter. Citigroup Inc. now owns 10,095 shares of the company’s stock valued at $489,000 after purchasing an additional 2,587 shares during the period. PNC Financial Services Group Inc. lifted its stake in Ryan Specialty by 192.0% during the 3rd quarter. PNC Financial Services Group Inc. now owns 549 shares of the company’s stock worth $27,000 after acquiring an additional 361 shares in the last quarter. Envestnet Asset Management Inc. lifted its stake in Ryan Specialty by 129.4% during the 3rd quarter. Envestnet Asset Management Inc. now owns 86,986 shares of the company’s stock worth $4,210,000 after acquiring an additional 49,069 shares in the last quarter. Invesco Ltd. boosted its holdings in Ryan Specialty by 273.9% during the 3rd quarter. Invesco Ltd. now owns 303,102 shares of the company’s stock valued at $14,670,000 after acquiring an additional 222,030 shares during the period. Finally, Federated Hermes Inc. purchased a new stake in Ryan Specialty during the third quarter worth about $503,000. 84.82% of the stock is owned by hedge funds and other institutional investors.

Ryan Specialty Company Profile

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.