Ryan Specialty (NYSE:RYAN) Price Target Increased to $72.00 by Analysts at The Goldman Sachs Group

Ryan Specialty (NYSE:RYAN) had its price objective raised by The Goldman Sachs Group from $64.00 to $72.00 in a research note published on Wednesday morning, Benzinga reports. The firm currently has a neutral rating on the stock.

RYAN has been the subject of a number of other research reports. Keefe, Bruyette & Woods reissued an outperform rating and set a $62.00 target price on shares of Ryan Specialty in a research report on Tuesday, July 2nd. JPMorgan Chase & Co. raised their target price on shares of Ryan Specialty from $54.00 to $56.00 and gave the company an underweight rating in a research note on Friday, August 2nd. UBS Group upped their price target on shares of Ryan Specialty from $67.00 to $76.00 and gave the stock a buy rating in a research report on Tuesday, August 13th. Wells Fargo & Company raised their price objective on Ryan Specialty from $60.00 to $63.00 and gave the company an equal weight rating in a research report on Friday, August 2nd. Finally, Barclays began coverage on Ryan Specialty in a research report on Wednesday, September 4th. They issued an overweight rating and a $76.00 target price for the company. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of Hold and a consensus price target of $70.33.

Ryan Specialty Stock Performance

Shares of RYAN stock opened at $71.76 on Wednesday. The firm has a market capitalization of $18.76 billion, a price-to-earnings ratio of 112.13, a price-to-earnings-growth ratio of 1.70 and a beta of 0.62. The company has a 50 day moving average price of $65.68 and a 200 day moving average price of $58.69. Ryan Specialty has a one year low of $41.49 and a one year high of $72.97. The company has a debt-to-equity ratio of 1.81, a quick ratio of 1.09 and a current ratio of 1.09.

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

Ryan Specialty Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, August 27th. Stockholders of record on Tuesday, August 13th were given a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a dividend yield of 0.61%. The ex-dividend date was Tuesday, August 13th. Ryan Specialty’s payout ratio is currently 68.75%.

Insider Buying and Selling

In other Ryan Specialty news, EVP Jeremiah Rawlins Bickham sold 26,233 shares of the firm’s stock in a transaction on 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 $1,619,397.10. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, EVP Jeremiah Rawlins Bickham sold 26,233 shares of Ryan Specialty stock in a transaction dated 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 completion of the transaction, the executive vice president now directly owns 24,845 shares in the company, valued at approximately $1,619,397.10. This trade represents a 0.00 % 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. Also, President Timothy William Turner sold 2,000,000 shares of the company’s stock in a transaction that occurred on 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 sale, the president now owns 8,095 shares in the company, valued at $505,532.75. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 2,107,136 shares of company stock worth $131,860,032. Insiders own 11.10% of the company’s stock.

Institutional Trading of Ryan Specialty

Institutional investors and hedge funds have recently modified their holdings of the business. Virtu Financial LLC acquired a new position in shares of Ryan Specialty in the 4th quarter valued at about $283,000. Vanguard Group Inc. boosted its stake in Ryan Specialty by 2.2% in the fourth quarter. Vanguard Group Inc. now owns 9,397,569 shares of the company’s stock valued at $404,283,000 after acquiring an additional 198,945 shares during the period. Kapitalo Investimentos Ltda bought a new position in shares of Ryan Specialty during the fourth quarter valued at approximately $106,000. Renaissance Capital LLC raised its position in shares of Ryan Specialty by 4.6% during the 1st quarter. Renaissance Capital LLC now owns 63,364 shares of the company’s stock worth $3,517,000 after purchasing an additional 2,800 shares during the period. Finally, Cooper Financial Group bought a new stake in shares of Ryan Specialty in the 1st quarter worth approximately $261,000. 84.82% of the stock is owned by institutional investors and hedge funds.

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.