UBS Group Lowers Ryan Specialty (NYSE:RYAN) Price Target to $80.00

Key Points

• UBS Group lowered its price target for Ryan Specialty from $84.00 to $80.00, while maintaining a "buy" rating, indicating a potential upside of 37.68% from the current stock price.
• Other analysts, including Morgan Stanley and Barclays, have also reduced their price targets for Ryan Specialty, with the average consensus rating being a "Moderate Buy" and an average price target of $77.30.
• Ryan Specialty reported earnings of $0.66 per share, matching analyst expectations, and highlighted a year-over-year revenue increase of 23.0%, reaching $855.17 million for the quarter.

Ryan Specialty (NYSE:RYAN - Free Report) had its price objective cut by UBS Group from $84.00 to $80.00 in a research note issued to investors on Monday morning,Benzinga reports. They currently have a buy rating on the stock.

Other equities analysts have also issued reports about the stock. Morgan Stanley reduced their target price on shares of Ryan Specialty from $80.00 to $78.00 and set an "overweight" rating on the stock in a research report on Monday, July 14th. Wall Street Zen raised shares of Ryan Specialty from a "sell" rating to a "hold" rating in a report on Sunday, August 3rd. Keefe, Bruyette & Woods cut their price objective on shares of Ryan Specialty from $76.00 to $75.00 and set an "outperform" rating on the stock in a report on Wednesday, April 9th. Wells Fargo & Company cut their price objective on shares of Ryan Specialty from $63.00 to $60.00 and set an "equal weight" rating on the stock in a report on Friday, August 1st. Finally, TD Cowen began coverage on shares of Ryan Specialty in a report on Thursday, April 10th. They set a "buy" rating and a $89.00 price objective on the stock. Three investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $77.30.

Ryan Specialty Price Performance

RYAN stock traded down $1.02 during trading on Monday, reaching $58.53. The company's stock had a trading volume of 1,344,980 shares, compared to its average volume of 1,485,492. Ryan Specialty has a 1 year low of $55.77 and a 1 year high of $77.16. The company has a quick ratio of 1.05, a current ratio of 1.01 and a debt-to-equity ratio of 2.88. The company has a market capitalization of $15.36 billion, a P/E ratio of 167.23, a price-to-earnings-growth ratio of 1.72 and a beta of 0.64. The company's fifty day moving average is $65.30 and its 200-day moving average is $67.91.

Ryan Specialty (NYSE:RYAN - Get Free Report) last released its quarterly earnings data on Thursday, July 31st. The company reported $0.66 EPS for the quarter, meeting the consensus estimate of $0.66. Ryan Specialty had a net margin of 6.81% and a return on equity of 48.70%. The business had revenue of $855.17 million during the quarter, compared to the consensus estimate of $837.52 million. During the same quarter in the prior year, the firm earned $0.58 EPS. The business's revenue was up 23.0% on a year-over-year basis. On average, research analysts expect that Ryan Specialty will post 2.29 earnings per share for the current fiscal year.

Ryan Specialty Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, August 26th. Investors of record on Tuesday, August 12th will be paid a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 0.8%. The ex-dividend date is Tuesday, August 12th. Ryan Specialty's dividend payout ratio (DPR) is currently 137.14%.

Insider Buying and Selling at Ryan Specialty

In other news, Director David P. Bolger sold 5,000 shares of Ryan Specialty stock in a transaction dated Tuesday, June 3rd. The shares were sold at an average price of $70.80, for a total value of $354,000.00. Following the sale, the director owned 71,467 shares of the company's stock, valued at $5,059,863.60. The trade was a 6.54% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Mark Stephen Katz sold 14,377 shares of the firm's stock in a transaction dated Friday, June 13th. The shares were sold at an average price of $65.84, for a total transaction of $946,581.68. Following the completion of the sale, the executive vice president owned 1,117 shares of the company's stock, valued at $73,543.28. This trade represents a 92.79% decrease in their position. The disclosure for this sale can be found here. Company insiders own 52.21% of the company's stock.

Institutional Trading of Ryan Specialty

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Whittier Trust Co. of Nevada Inc. lifted its stake in shares of Ryan Specialty by 281.6% in the first quarter. Whittier Trust Co. of Nevada Inc. now owns 332 shares of the company's stock valued at $25,000 after purchasing an additional 245 shares during the period. SVB Wealth LLC acquired a new position in shares of Ryan Specialty in the first quarter valued at approximately $26,000. Golden State Wealth Management LLC raised its position in shares of Ryan Specialty by 10,975.0% in the second quarter. Golden State Wealth Management LLC now owns 443 shares of the company's stock valued at $30,000 after buying an additional 439 shares during the last quarter. Central Pacific Bank Trust Division acquired a new position in shares of Ryan Specialty in the second quarter valued at approximately $31,000. Finally, WPG Advisers LLC acquired a new position in shares of Ryan Specialty in the first quarter valued at approximately $32,000. Institutional investors and hedge funds own 84.82% of the company's stock.

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.