Brokerages Set Ryan Specialty Holdings, Inc. (NYSE:RYAN) Target Price at $75.67

Shares of Ryan Specialty Holdings, Inc. (NYSE:RYAN - Get Free Report) have received a consensus rating of "Hold" from the thirteen analysts that are currently covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, five have issued a hold rating and seven have given a buy rating to the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $75.67.

Several equities research analysts recently commented on the company. Wells Fargo & Company cut their price target on Ryan Specialty from $69.00 to $66.00 and set an "equal weight" rating for the company in a report on Thursday, April 10th. Keefe, Bruyette & Woods dropped their target price on Ryan Specialty from $76.00 to $75.00 and set an "outperform" rating for the company in a report on Wednesday, April 9th. TD Cowen assumed coverage on Ryan Specialty in a report on Thursday, April 10th. They set a "buy" rating and a $89.00 price target on the stock. UBS Group raised their price objective on shares of Ryan Specialty from $82.00 to $84.00 and gave the stock a "buy" rating in a research report on Wednesday, February 26th. Finally, Royal Bank of Canada reduced their target price on shares of Ryan Specialty from $73.00 to $72.00 and set a "sector perform" rating on the stock in a research note on Friday, February 21st.

Insider Buying and Selling

In related news, EVP Brendan Martin Mulshine sold 30,000 shares of the company's stock in a transaction that occurred on Friday, March 14th. The shares were sold at an average price of $69.30, for a total transaction of $2,079,000.00. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 11.10% of the stock is owned by corporate insiders.

Institutional Trading of Ryan Specialty

Large investors have recently modified their holdings of the stock. Raymond James Financial Inc. acquired a new position in Ryan Specialty during the 4th quarter worth $94,484,000. Norges Bank purchased a new position in shares of Ryan Specialty in the 4th quarter valued at about $78,358,000. Principal Financial Group Inc. grew its position in shares of Ryan Specialty by 66.4% during the first quarter. Principal Financial Group Inc. now owns 3,051,356 shares of the company's stock worth $225,404,000 after buying an additional 1,218,147 shares in the last quarter. Millennium Management LLC increased its stake in shares of Ryan Specialty by 1,111.4% during the fourth quarter. Millennium Management LLC now owns 1,174,086 shares of the company's stock worth $75,329,000 after buying an additional 1,077,169 shares during the period. Finally, CIBC Private Wealth Group LLC raised its holdings in Ryan Specialty by 6,911.0% in the fourth quarter. CIBC Private Wealth Group LLC now owns 785,928 shares of the company's stock valued at $48,036,000 after acquiring an additional 774,718 shares in the last quarter. Hedge funds and other institutional investors own 84.82% of the company's stock.

Ryan Specialty Price Performance

RYAN stock traded up $1.44 during midday trading on Monday, reaching $66.25. The stock had a trading volume of 307,622 shares, compared to its average volume of 968,874. Ryan Specialty has a 52-week low of $48.85 and a 52-week high of $77.16. The company has a market cap of $17.35 billion, a price-to-earnings ratio of 95.88, a price-to-earnings-growth ratio of 1.19 and a beta of 0.66. The company's fifty day simple moving average is $70.21 and its 200 day simple moving average is $68.77. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 2.40.

Ryan Specialty (NYSE:RYAN - Get Free Report) last posted its quarterly earnings results on Thursday, May 1st. The company reported $0.39 earnings per share for the quarter, hitting analysts' consensus estimates of $0.39. The firm had revenue of $690.17 million for the quarter, compared to analyst estimates of $680.80 million. Ryan Specialty had a net margin of 9.14% and a return on equity of 48.01%. Ryan Specialty's quarterly revenue was up 25.0% on a year-over-year basis. During the same period in the previous year, the business posted $0.35 earnings per share. As a group, sell-side analysts predict that Ryan Specialty will post 2.29 earnings per share for the current fiscal year.

Ryan Specialty Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 18th. Stockholders of record on Tuesday, March 4th were paid a $0.12 dividend. The ex-dividend date of this dividend was Tuesday, March 4th. This is a boost from Ryan Specialty's previous quarterly dividend of $0.11. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.72%. Ryan Specialty's payout ratio is presently 69.57%.

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.