Ryan Specialty (NYSE:RYAN) PT Raised to $62.00 at Keefe, Bruyette & Woods

Ryan Specialty (NYSE:RYAN - Free Report) had its target price lifted by Keefe, Bruyette & Woods from $56.00 to $62.00 in a report issued on Wednesday morning, Benzinga reports. The firm currently has an outperform rating on the stock.

RYAN has been the topic of several other research reports. Citigroup upped their price target on Ryan Specialty from $49.00 to $52.00 and gave the company a neutral rating in a research note on Wednesday, February 28th. JPMorgan Chase & Co. upped their price target on Ryan Specialty from $47.00 to $49.00 and gave the company an underweight rating in a research note on Monday. One research analyst has rated the stock with a sell rating, four have given a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of Hold and a consensus price target of $53.63.

Ryan Specialty Price Performance

NYSE:RYAN traded down $0.88 during trading hours on Wednesday, reaching $51.37. The company had a trading volume of 744,060 shares, compared to its average volume of 759,046. The stock has a 50-day moving average of $50.53 and a two-hundred day moving average of $46.81. Ryan Specialty has a one year low of $39.44 and a one year high of $56.51. The firm has a market capitalization of $13.37 billion, a PE ratio of 100.72 and a beta of 0.52. 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 - Get Free Report) last announced its earnings results on Tuesday, February 27th. The company reported $0.35 EPS for the quarter, hitting the consensus estimate of $0.35. The company had revenue of $532.90 million for the quarter, compared to analysts' expectations of $524.08 million. Ryan Specialty had a return on equity of 44.84% and a net margin of 9.36%. The business's revenue for the quarter was up 22.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.27 earnings per share. Analysts forecast that Ryan Specialty will post 1.77 earnings per share for the current year.

Ryan Specialty Announces Dividend

The firm also recently declared a None dividend, which was paid on Wednesday, March 27th. Shareholders of record on Wednesday, March 13th were issued a $0.34 dividend. The ex-dividend date of this dividend was Tuesday, March 12th. Ryan Specialty's dividend payout ratio (DPR) is currently 86.28%.

Institutional Investors Weigh In On Ryan Specialty

Several large investors have recently modified their holdings of the business. Renaissance Capital LLC grew its holdings in shares of Ryan Specialty by 4.6% during the first quarter. Renaissance Capital LLC now owns 63,364 shares of the company's stock worth $3,517,000 after buying an additional 2,800 shares in the last quarter. Kapitalo Investimentos Ltda bought a new position in shares of Ryan Specialty during the fourth quarter worth about $106,000. Vanguard Group Inc. grew its holdings in shares of Ryan Specialty by 2.2% during the fourth quarter. Vanguard Group Inc. now owns 9,397,569 shares of the company's stock worth $404,283,000 after buying an additional 198,945 shares in the last quarter. Goldman Sachs Group Inc. grew its holdings in shares of Ryan Specialty by 5.6% during the fourth quarter. Goldman Sachs Group Inc. now owns 178,056 shares of the company's stock worth $7,660,000 after buying an additional 9,506 shares in the last quarter. Finally, Virtu Financial LLC bought a new position in shares of Ryan Specialty during the fourth quarter worth about $283,000. 84.82% of the stock is currently owned by 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.