Ryan Specialty (NYSE:RYAN) PT Raised to $72.00 at The Goldman Sachs Group

Ryan Specialty (NYSE:RYAN) had its price target boosted by The Goldman Sachs Group from $64.00 to $72.00 in a report published on Wednesday, Benzinga reports. They currently have a neutral rating on the stock.

RYAN has been the subject of a number of other reports. Keefe, Bruyette & Woods reaffirmed an outperform rating and set a $62.00 price objective on shares of Ryan Specialty in a research report on Tuesday, July 2nd. Wells Fargo & Company increased their price target on Ryan Specialty from $60.00 to $63.00 and gave the stock an equal weight rating in a report on Friday, August 2nd. UBS Group boosted their price objective on shares of Ryan Specialty from $67.00 to $76.00 and gave the company a buy rating in a research note on Tuesday, August 13th. Barclays initiated coverage on shares of Ryan Specialty in a research note on Wednesday, September 4th. They issued an overweight rating and a $76.00 target price for the company. Finally, BMO Capital Markets upgraded shares of Ryan Specialty from a market perform rating to an outperform rating and boosted their price target for the stock from $65.00 to $75.00 in a research note on Tuesday, September 24th. One analyst has rated the stock with a sell rating, five have issued a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of Hold and an average price target of $70.33.

Ryan Specialty Stock Performance

Shares of RYAN opened at $71.76 on Wednesday. The company’s 50 day simple moving average is $65.68 and its 200-day simple moving average is $58.69. The firm has a market cap of $18.76 billion, a PE ratio of 112.13, a price-to-earnings-growth ratio of 1.70 and a beta of 0.62. Ryan Specialty has a 12-month low of $41.49 and a 12-month high of $72.97. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 1.81.

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

Ryan Specialty Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, August 27th. Investors of record on Tuesday, August 13th were paid a $0.11 dividend. This represents a $0.44 annualized dividend and a yield of 0.61%. The ex-dividend date of this dividend was Tuesday, August 13th. Ryan Specialty’s payout ratio is currently 68.75%.

Insiders Place Their Bets

In other news, Director Nicholas Dominic Cortezi sold 5,375 shares of the firm’s stock in a transaction on Wednesday, August 28th. The stock was sold at an average price of $64.73, for a total value of $347,923.75. Following the completion of the transaction, the director now owns 2,685 shares in the company, valued at $173,800.05. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, EVP Jeremiah Rawlins Bickham sold 26,233 shares of the company’s stock in a transaction that occurred on Wednesday, August 14th. The stock was sold at an average price of $65.18, for a total value of $1,709,866.94. Following the sale, the executive vice president now owns 24,845 shares of the company’s stock, valued at approximately $1,619,397.10. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Nicholas Dominic Cortezi sold 5,375 shares of the firm’s stock in a transaction on 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 directly owns 2,685 shares of the company’s stock, valued at $173,800.05. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 2,107,136 shares of company stock worth $131,860,032. 11.10% of the stock is owned by corporate insiders.

Institutional Trading of Ryan Specialty

A number of large investors have recently made changes to their positions in the stock. Champlain Investment Partners LLC lifted its holdings in Ryan Specialty by 28.0% in the 1st quarter. Champlain Investment Partners LLC now owns 4,937,332 shares of the company’s stock valued at $274,022,000 after purchasing an additional 1,079,505 shares in the last quarter. Norden Group LLC raised its position in shares of Ryan Specialty by 2,138.1% in the first quarter. Norden Group LLC now owns 778,848 shares of the company’s stock valued at $43,226,000 after buying an additional 744,049 shares during the last quarter. Bessemer Group Inc. lifted its stake in shares of Ryan Specialty by 33.9% during the first quarter. Bessemer Group Inc. now owns 1,925,864 shares of the company’s stock valued at $106,886,000 after buying an additional 488,067 shares during the period. Bank of New York Mellon Corp boosted its position in Ryan Specialty by 132.2% during the second quarter. Bank of New York Mellon Corp now owns 836,209 shares of the company’s stock worth $48,425,000 after acquiring an additional 476,126 shares during the last quarter. Finally, 2Xideas AG purchased a new stake in Ryan Specialty in the 1st quarter worth approximately $19,765,000. Institutional investors and hedge funds own 84.82% of the company’s stock.

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.