Ryan Specialty (NYSE:RYAN) Stock Price Target Raised at Mizuho

Ryan Specialty (NYSE:RYAN) had its target price increased by Mizuho from $40.00 to $48.00 in a report published on Friday,Benzinga reports. Mizuho currently has a neutral rating on the stock.

A number of other brokerages have also weighed in on RYAN. Citigroup raised their price objective on Ryan Specialty from $50.00 to $53.50 and gave the company a “buy” rating in a report on Monday, August 3rd. Piper Sandler lowered their target price on shares of Ryan Specialty from $48.00 to $40.00 and set a “neutral” rating on the stock in a research note on Tuesday, October 6th. Weiss Ratings raised shares of Ryan Specialty from a “hold (c-)” rating to a “hold (c)” rating in a report on Friday, September 18th. Royal Bank Of Canada reduced their target price on shares of Ryan Specialty from $55.00 to $52.00 and set an “outperform” rating for the company in a research report on Friday, October 30th. Finally, Cantor Fitzgerald raised their price target on shares of Ryan Specialty from $34.00 to $41.00 and gave the stock a “neutral” rating in a research note on Monday, August 3rd. Eight investment analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Ryan Specialty presently has a consensus rating of “Hold” and a consensus target price of $52.62.

Ryan Specialty Price Performance

RYAN stock traded up $0.65 during trading on Friday, hitting $46.80. The stock had a trading volume of 3,119,407 shares, compared to its average volume of 2,198,085. Ryan Specialty has a twelve month low of $29.28 and a twelve month high of $58.91. The company’s 50-day moving average price is $41.17 and its two-hundred day moving average price is $39.00. The company has a debt-to-equity ratio of 4.03, a current ratio of 1.01 and a quick ratio of 1.01. The stock has a market capitalization of $11.77 billion, a P/E ratio of 57.78, a PEG ratio of 0.97 and a beta of 0.54.

Ryan Specialty (NYSE:RYAN) last announced its earnings results on Thursday, October 29th. The company reported $0.51 EPS for the quarter, beating analysts’ consensus estimates of $0.49 by $0.02. The business had revenue of $789.96 million during the quarter, compared to analysts’ expectations of $792.99 million. Ryan Specialty had a return on equity of 47.77% and a net margin of 8.25%. During the same quarter in the prior year, the firm earned $0.47 earnings per share. As a group, research analysts predict that Ryan Specialty will post 2.18 EPS for the current fiscal year.

Ryan Specialty Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, November 24th. Stockholders of record on Tuesday, November 10th will be given a dividend of $0.13 per share. The ex-dividend date of this dividend is Tuesday, November 10th. This represents a $0.52 annualized dividend and a dividend yield of 1.1%. Ryan Specialty’s payout ratio is presently 64.20%.

Insider Activity

In related news, CEO Benjamin Wuller sold 50,000 shares of the firm’s stock in a transaction dated Monday, November 9th. The shares were sold at an average price of $47.31, for a total transaction of $2,365,500.00. Following the completion of the sale, the chief executive officer directly owned 94,095 shares in the company, valued at approximately $4,451,634.45. This trade represents a 34.70% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 52.03% of the company’s stock.

Institutional Trading of Ryan Specialty

Hedge funds have recently made changes to their positions in the company. Vulcan Value Partners LLC increased its holdings in shares of Ryan Specialty by 20.0% during the 2nd quarter. Vulcan Value Partners LLC now owns 7,912,669 shares of the company’s stock worth $298,782,000 after buying an additional 1,317,334 shares during the last quarter. Bank of America Corp DE lifted its holdings in Ryan Specialty by 34.8% in the first quarter. Bank of America Corp DE now owns 1,508,083 shares of the company’s stock valued at $50,883,000 after acquiring an additional 389,505 shares during the last quarter. Fenimore Asset Management Inc lifted its holdings in Ryan Specialty by 1.8% in the third quarter. Fenimore Asset Management Inc now owns 1,330,600 shares of the company’s stock valued at $49,232,000 after acquiring an additional 23,994 shares during the last quarter. Guardian Point Capital LP grew its position in Ryan Specialty by 15.0% in the first quarter. Guardian Point Capital LP now owns 575,000 shares of the company’s stock worth $19,400,000 after acquiring an additional 75,000 shares during the period. Finally, Renaissance Technologies LLC grew its position in Ryan Specialty by 1,374.2% in the first quarter. Renaissance Technologies LLC now owns 536,600 shares of the company’s stock worth $18,105,000 after acquiring an additional 500,200 shares during the period. Hedge funds and other institutional investors own 84.82% of the company’s stock.

About Ryan Specialty

Ryan Specialty is a specialty insurance organization that provides distribution, underwriting and related services to insurance brokers, agents and carriers. Its business includes wholesale brokerage, which helps insurance professionals place coverage for risks that may be difficult to insure in the standard market, and underwriting management services for specialty insurance products. The company works across a range of property and casualty insurance lines, including professional liability, transportation, property, casualty and other specialty risks.