Ryan Specialty (NYSE:RYAN) Rating Lowered to Peer Perform at Wolfe Research

Wolfe Research downgraded shares of Ryan Specialty (NYSE:RYAN) from an outperform rating to a peer perform rating in a research note released on Monday, Marketbeat.com reports.

Several other research analysts have also issued reports on the stock. Keefe, Bruyette & Woods increased their target price on shares of Ryan Specialty from $56.00 to $62.00 and gave the stock an outperform rating in a research note on Wednesday, April 10th. JMP Securities restated a market perform rating on shares of Ryan Specialty in a research note on Monday, April 15th. Wells Fargo & Company increased their price target on Ryan Specialty from $57.00 to $58.00 and gave the stock an overweight rating in a report on Thursday, April 11th. Citigroup boosted their price objective on Ryan Specialty from $49.00 to $52.00 and gave the company a neutral rating in a report on Wednesday, February 28th. Finally, JPMorgan Chase & Co. increased their target price on Ryan Specialty from $47.00 to $49.00 and gave the stock an underweight rating in a report on Monday, April 8th. One research analyst has rated the stock with a sell rating, five have given a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of Hold and an average target price of $54.25.

Ryan Specialty Price Performance

Shares of RYAN opened at $53.33 on Monday. The business has a 50-day simple moving average of $52.80 and a two-hundred day simple moving average of $47.25. Ryan Specialty has a 12-month low of $39.44 and a 12-month high of $56.51. The stock has a market cap of $13.88 billion, a PE ratio of 100.62 and a beta of 0.58. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 1.98.

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. Ryan Specialty had a return on equity of 46.11% and a net margin of 9.15%. The business had revenue of $552.00 million during the quarter, compared to analyst estimates of $549.06 million. Ryan Specialty’s revenue for the quarter was up 20.6% compared to the same quarter last year. During the same period last year, the company earned $0.26 EPS. Analysts anticipate that Ryan Specialty will post 1.77 earnings per share for the current fiscal year.

Ryan Specialty Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 28th. Investors of record on Tuesday, May 14th will be paid a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a yield of 0.83%. The ex-dividend date is Monday, May 13th. Ryan Specialty’s dividend payout ratio is 83.02%.

Institutional Investors Weigh In On Ryan Specialty

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. PNC Financial Services Group Inc. boosted its stake in shares of Ryan Specialty by 192.0% in the 3rd quarter. PNC Financial Services Group Inc. now owns 549 shares of the company’s stock valued at $27,000 after purchasing an additional 361 shares in the last quarter. Parkside Financial Bank & Trust boosted its position in Ryan Specialty by 1,283.6% during the fourth quarter. Parkside Financial Bank & Trust now owns 1,010 shares of the company’s stock valued at $43,000 after buying an additional 937 shares during the period. Intelligent Financial Strategies bought a new position in shares of Ryan Specialty during the first quarter valued at about $44,000. Benjamin F. Edwards & Company Inc. bought a new position in shares of Ryan Specialty during the first quarter valued at about $45,000. Finally, Operose Advisors LLC purchased a new position in shares of Ryan Specialty in the third quarter worth about $92,000. 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.