Ryan Specialty (NYSE:RYAN) Upgraded by BMO Capital Markets to “Outperform”

BMO Capital Markets upgraded shares of Ryan Specialty (NYSE:RYAN) from a market perform rating to an outperform rating in a research report sent to investors on Tuesday, Marketbeat reports. They currently have $75.00 price target on the stock, up from their previous price target of $65.00.

Several other equities analysts have also issued reports on RYAN. JPMorgan Chase & Co. upped their price target on Ryan Specialty from $54.00 to $56.00 and gave the company an underweight rating in a research note on Friday, August 2nd. UBS Group increased their target price on Ryan Specialty from $67.00 to $76.00 and gave the company a buy rating in a research note on Tuesday, August 13th. Citigroup increased their target price on Ryan Specialty from $56.00 to $62.00 and gave the company a neutral rating in a research note on Tuesday, July 23rd. Keefe, Bruyette & Woods reissued an outperform rating and issued a $62.00 target price on shares of Ryan Specialty in a research note on Tuesday, July 2nd. Finally, The Goldman Sachs Group increased their target price on Ryan Specialty from $58.00 to $64.00 and gave the company a neutral rating in a research note on Monday, August 5th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, Ryan Specialty presently has an average rating of Hold and an average target price of $66.78.

Ryan Specialty Trading Down 0.3 %

Shares of RYAN opened at $66.00 on Tuesday. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 1.81. Ryan Specialty has a 12-month low of $41.49 and a 12-month high of $69.03. The firm has a market capitalization of $17.26 billion, a PE ratio of 124.53, a price-to-earnings-growth ratio of 1.60 and a beta of 0.62. The stock’s fifty day simple moving average is $63.85 and its 200-day simple moving average is $57.64.

Ryan Specialty (NYSE:RYAN) last issued its quarterly earnings results on Thursday, August 1st. The company reported $0.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.56 by $0.02. Ryan Specialty had a return on equity of 48.08% and a net margin of 10.21%. The business had revenue of $695.40 million for the quarter, compared to analyst estimates of $695.56 million. During the same quarter in the prior year, the firm posted $0.45 earnings per share. The firm’s revenue for the quarter was up 18.9% compared to the same quarter last year. As a group, research analysts predict that Ryan Specialty will post 1.81 earnings per share for the current year.

Ryan Specialty Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, August 27th. Stockholders of record on Tuesday, August 13th were given a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a dividend yield of 0.67%. The ex-dividend date of this dividend was Tuesday, August 13th. Ryan Specialty’s dividend payout ratio is currently 83.02%.

Insider Transactions at Ryan Specialty

In other news, President Timothy William Turner sold 2,000,000 shares of the firm’s stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $62.45, for a total transaction of $124,900,000.00. Following the sale, the president now owns 8,095 shares of the company’s stock, valued at $505,532.75. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, President Timothy William Turner sold 2,000,000 shares of the stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $62.45, for a total transaction of $124,900,000.00. Following the completion of the transaction, the president now directly owns 8,095 shares in the company, valued at $505,532.75. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Nicholas Dominic Cortezi sold 5,375 shares of the stock in a transaction dated Wednesday, August 28th. The stock was sold at an average price of $64.73, for a total value of $347,923.75. Following the transaction, the director now owns 2,685 shares of the company’s stock, valued at $173,800.05. The disclosure for this sale can be found here. Insiders have sold a total of 2,107,136 shares of company stock valued at $131,860,032 over the last 90 days. 11.10% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the company. GAMMA Investing LLC grew its holdings in shares of Ryan Specialty by 96.4% during the second quarter. GAMMA Investing LLC now owns 605 shares of the company’s stock worth $35,000 after buying an additional 297 shares in the last quarter. Crewe Advisors LLC bought a new position in shares of Ryan Specialty during the second quarter worth about $39,000. Intelligent Financial Strategies bought a new position in Ryan Specialty in the first quarter valued at approximately $44,000. Benjamin F. Edwards & Company Inc. bought a new position in Ryan Specialty in the first quarter valued at approximately $45,000. Finally, Rothschild Investment LLC bought a new position in Ryan Specialty in the second quarter valued at approximately $87,000. 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.