Ryan Specialty (NYSE:RYAN) Given New $76.00 Price Target at UBS Group

Ryan Specialty (NYSE:RYAN) had its price objective increased by UBS Group from $67.00 to $76.00 in a research note issued to investors on Tuesday morning, Benzinga reports. The firm currently has a buy rating on the stock.

A number of other equities research analysts have also recently commented on the company. JPMorgan Chase & Co. increased 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. Wolfe Research lowered shares of Ryan Specialty from an outperform rating to a peer perform rating in a research note on Monday, May 6th. Bank of America initiated coverage on shares of Ryan Specialty in a research note on Wednesday, May 22nd. They set a buy rating and a $67.00 price objective for the company. Keefe, Bruyette & Woods reissued an outperform rating and set a $62.00 price objective on shares of Ryan Specialty in a report on Tuesday, July 2nd. Finally, Citigroup raised their target price on Ryan Specialty from $56.00 to $62.00 and gave the stock a neutral rating in a research note on Tuesday, July 23rd. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of Hold and a consensus price target of $62.00.

Ryan Specialty Stock Performance

Shares of Ryan Specialty stock opened at $65.14 on Tuesday. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 1.81. The firm has a market cap of $16.97 billion, a P/E ratio of 122.91, a P/E/G ratio of 1.56 and a beta of 0.62. The stock’s fifty day moving average price is $58.55 and its 200-day moving average price is $53.78. Ryan Specialty has a 12 month low of $41.49 and a 12 month high of $69.03.

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

Ryan Specialty Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 27th. Shareholders of record on Tuesday, August 13th will be given a $0.11 dividend. The ex-dividend date of this dividend is Tuesday, August 13th. This represents a $0.44 annualized dividend and a yield of 0.68%. Ryan Specialty’s dividend payout ratio is presently 83.02%.

Insider Activity

In other Ryan Specialty news, President Timothy William Turner sold 2,000,000 shares of the company’s stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $62.45, for a total value of $124,900,000.00. Following the completion of the transaction, the president now owns 8,095 shares in the company, valued at $505,532.75. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 11.10% of the company’s stock.

Institutional Investors Weigh In On Ryan Specialty

Several large investors have recently bought and sold shares of the company. ProShare Advisors LLC acquired a new stake in Ryan Specialty in the 2nd quarter valued at approximately $280,000. Thrivent Financial for Lutherans grew its stake in shares of Ryan Specialty by 519.6% in the second quarter. Thrivent Financial for Lutherans now owns 28,803 shares of the company’s stock valued at $1,668,000 after buying an additional 24,154 shares in the last quarter. Blair William & Co. IL raised its holdings in shares of Ryan Specialty by 3.4% in the 2nd quarter. Blair William & Co. IL now owns 2,866,003 shares of the company’s stock valued at $165,970,000 after buying an additional 94,663 shares during the period. Vanguard Personalized Indexing Management LLC acquired a new position in Ryan Specialty during the 2nd quarter worth about $248,000. Finally, Amalgamated Bank boosted its holdings in Ryan Specialty by 441.7% during the 2nd quarter. Amalgamated Bank now owns 53,435 shares of the company’s stock valued at $3,094,000 after acquiring an additional 43,570 shares during the period. 84.82% of the stock is currently 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.