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 note released on Tuesday, Marketbeat reports. BMO Capital Markets currently has $75.00 price objective on the stock, up from their previous price objective of $65.00.

RYAN has been the subject of several other reports. JPMorgan Chase & Co. upped their price objective on shares of Ryan Specialty from $54.00 to $56.00 and gave the stock an underweight rating in a report on Friday, August 2nd. Citigroup raised their price target on Ryan Specialty from $56.00 to $62.00 and gave the company a neutral rating in a research report on Tuesday, July 23rd. The Goldman Sachs Group lifted their price objective on Ryan Specialty from $58.00 to $64.00 and gave the stock a neutral rating in a research note on Monday, August 5th. UBS Group lifted their price objective on Ryan Specialty from $67.00 to $76.00 and gave the stock a buy rating in a research note on Tuesday, August 13th. Finally, Keefe, Bruyette & Woods reiterated an outperform rating and issued a $62.00 price objective on shares of Ryan Specialty in a research note on Tuesday, July 2nd. One research analyst has rated the stock with a sell rating, five have issued a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, Ryan Specialty has a consensus rating of Hold and an average target price of $66.78.

Ryan Specialty Trading Down 0.3 %

Ryan Specialty stock opened at $66.00 on Tuesday. Ryan Specialty has a one year low of $41.49 and a one year high of $69.03. The company’s fifty day moving average price is $63.85 and its two-hundred day moving average price is $57.64. The company has a debt-to-equity ratio of 1.81, a current ratio of 1.09 and a quick ratio of 1.09. The company has a market capitalization of $17.26 billion, a price-to-earnings ratio of 124.53, a PEG ratio of 1.60 and a beta of 0.62.

Ryan Specialty (NYSE:RYAN) last issued its quarterly earnings data on Thursday, August 1st. The company reported $0.58 EPS for the quarter, beating analysts’ consensus estimates 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 EPS. The firm’s revenue for the quarter was up 18.9% on a year-over-year basis. On average, analysts forecast that Ryan Specialty will post 1.81 earnings per share for the current fiscal year.

Ryan Specialty Dividend Announcement

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

Insider Activity at Ryan Specialty

In related news, President Timothy William Turner sold 2,000,000 shares of the business’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 transaction, the president now directly owns 8,095 shares in the company, valued at $505,532.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, EVP Jeremiah Rawlins Bickham sold 26,233 shares of Ryan Specialty stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $65.18, for a total transaction of $1,709,866.94. Following the completion of the transaction, the executive vice president now directly owns 24,845 shares of the company’s stock, valued at approximately $1,619,397.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, President Timothy William Turner sold 2,000,000 shares of the firm’s stock in a transaction that occurred on 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 directly owns 8,095 shares of the company’s stock, valued at approximately $505,532.75. The disclosure for this sale can be found here. Insiders have sold 2,107,136 shares of company stock worth $131,860,032 over the last three months. Company insiders own 11.10% of the company’s stock.

Institutional Investors Weigh In On Ryan Specialty

A number of large investors have recently bought and sold shares of the business. Nebula Research & Development LLC acquired a new position in Ryan Specialty in the fourth quarter worth $1,284,000. Capstone Investment Advisors LLC acquired a new position in Ryan Specialty during the 1st quarter worth about $727,000. Securian Asset Management Inc. bought a new stake in Ryan Specialty during the 2nd quarter worth about $474,000. Embree Financial Group acquired a new stake in Ryan Specialty in the 1st quarter valued at about $1,701,000. Finally, Geneva Capital Management LLC raised its stake in shares of Ryan Specialty by 12.0% in the first quarter. Geneva Capital Management LLC now owns 475,552 shares of the company’s stock worth $26,393,000 after acquiring an additional 50,947 shares during the last quarter. 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.