Ryan Specialty (NYSE:RYAN) Raised to "Hold" at Wall Street Zen

Key Points

• Ryan Specialty has been upgraded from a "sell" to a "hold" rating by analysts at Wall Street Zen.
• Goldman Sachs upgraded Ryan Specialty to a "buy" rating and increased the target price from $74.00 to $81.00, while other analysts have altered their price targets, reflecting mixed sentiments.
• Ryan Specialty reported a 23.0% increase in revenue year-over-year, achieving $855.17 million in sales and matching EPS estimates of $0.66 for the last quarter.

Wall Street Zen upgraded shares of Ryan Specialty (NYSE:RYAN - Free Report) from a sell rating to a hold rating in a research note published on Sunday morning.

Several other equities analysts also recently issued reports on the stock. TD Cowen began coverage on shares of Ryan Specialty in a research note on Thursday, April 10th. They set a "buy" rating and a $89.00 price target for the company. The Goldman Sachs Group raised Ryan Specialty from a "neutral" rating to a "buy" rating and raised their target price for the stock from $74.00 to $81.00 in a research report on Tuesday, May 13th. Wells Fargo & Company cut their target price on Ryan Specialty from $63.00 to $60.00 and set an "equal weight" rating on the stock in a report on Friday, August 1st. Barclays lowered their price objective on Ryan Specialty from $83.00 to $79.00 and set an "overweight" rating for the company in a research report on Monday, July 7th. Finally, Keefe, Bruyette & Woods decreased their target price on shares of Ryan Specialty from $76.00 to $75.00 and set an "outperform" rating for the company in a research report on Wednesday, April 9th. Three research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, Ryan Specialty has an average rating of "Moderate Buy" and a consensus price target of $77.30.

Ryan Specialty Price Performance

Shares of NYSE RYAN traded down $0.06 during trading hours on Friday, hitting $57.71. 292,798 shares of the stock were exchanged, compared to its average volume of 1,055,579. The company's fifty day simple moving average is $66.01 and its two-hundred day simple moving average is $68.09. The company has a market cap of $15.15 billion, a PE ratio of 165.09, a price-to-earnings-growth ratio of 1.66 and a beta of 0.64. The company has a debt-to-equity ratio of 2.88, a quick ratio of 1.05 and a current ratio of 1.01. Ryan Specialty has a 1-year low of $55.77 and a 1-year high of $77.16.

Ryan Specialty (NYSE:RYAN - Get Free Report) last announced its quarterly earnings results on Thursday, July 31st. The company reported $0.66 EPS for the quarter, meeting analysts' consensus estimates of $0.66. The firm had revenue of $855.17 million for the quarter, compared to analyst estimates of $837.52 million. Ryan Specialty had a return on equity of 48.70% and a net margin of 6.81%. The business's revenue for the quarter was up 23.0% on a year-over-year basis. During the same period last year, the firm posted $0.58 earnings per share. On average, sell-side analysts predict that Ryan Specialty will post 2.29 EPS for the current year.

Ryan Specialty Dividend Announcement

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

Insider Buying and Selling at Ryan Specialty

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

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Mariner LLC increased its position in shares of Ryan Specialty by 3.4% during the fourth quarter. Mariner LLC now owns 5,278 shares of the company's stock worth $339,000 after acquiring an additional 172 shares in the last quarter. Crossmark Global Holdings Inc. increased its holdings in Ryan Specialty by 2.9% during the 1st quarter. Crossmark Global Holdings Inc. now owns 7,351 shares of the company's stock worth $543,000 after purchasing an additional 207 shares in the last quarter. Whittier Trust Co. of Nevada Inc. lifted its holdings 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 in the last quarter. Wallace Advisory Group LLC boosted its position in shares of Ryan Specialty by 5.8% during the second quarter. Wallace Advisory Group LLC now owns 4,837 shares of the company's stock valued at $357,000 after buying an additional 267 shares during the last quarter. Finally, UMB Bank n.a. boosted its position in shares of Ryan Specialty by 5.0% during the first quarter. UMB Bank n.a. now owns 5,797 shares of the company's stock valued at $428,000 after buying an additional 275 shares during the last quarter. 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.