Ryan Specialty (NYSE:RYAN) Rating Increased to Overweight at Wells Fargo & Company

Key Points

• Wells Fargo & Company has upgraded Ryan Specialty (NYSE:RYAN) from an "equal weight" rating to an "overweight" rating, with a price target of $60.00, indicating a potential upside of 14.29% from its previous close.
• The company's stock is currently rated as a Moderate Buy on average, with one analyst giving it a "Strong Buy," ten issuing "Buy" ratings, and two assigning "Hold" ratings.
• Ryan Specialty recently reported earnings of $0.66 per share, matching analyst estimates, and achieved a 23.0% year-over-year increase in revenue.

Wells Fargo & Company upgraded shares of Ryan Specialty (NYSE:RYAN - Free Report) from an equal weight rating to an overweight rating in a research note published on Wednesday, MarketBeat.com reports. Wells Fargo & Company currently has $60.00 target price on the stock.

Other equities analysts have also issued reports about the company. Wall Street Zen raised Ryan Specialty from a "sell" rating to a "hold" rating in a research report on Sunday, August 3rd. Citigroup assumed coverage on Ryan Specialty in a research report on Wednesday, August 13th. They issued a "buy" rating and a $74.00 target price on the stock. UBS Group cut their target price on Ryan Specialty from $84.00 to $80.00 and set a "buy" rating on the stock in a research report on Monday, August 4th. Morgan Stanley cut their target price on Ryan Specialty from $71.00 to $68.00 and set an "overweight" rating on the stock in a research report on Monday, August 18th. Finally, Cantor Fitzgerald raised Ryan Specialty to a "hold" rating in a research report on Wednesday, August 13th. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and two have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $74.00.

Ryan Specialty Price Performance

Ryan Specialty stock traded up $0.33 during midday trading on Wednesday, reaching $53.45. 5,257,758 shares of the company were exchanged, compared to its average volume of 1,478,591. The company has a market capitalization of $14.09 billion, a price-to-earnings ratio of 152.72, a P/E/G ratio of 1.48 and a beta of 0.63. The firm's 50-day simple moving average is $58.70 and its 200-day simple moving average is $65.47. Ryan Specialty has a 1 year low of $50.08 and a 1 year high of $77.16. The company has a debt-to-equity ratio of 2.88, a quick ratio of 1.01 and a current ratio of 1.01.

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

Ryan Specialty Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, August 26th. Stockholders of record on Tuesday, August 12th were issued a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date was Tuesday, August 12th. Ryan Specialty's payout ratio is 137.14%.

Insider Transactions at Ryan Specialty

In other Ryan Specialty news, Chairman Patrick G. Ryan acquired 276,634 shares of the company's stock in a transaction on Friday, September 12th. The shares were purchased at an average price of $51.84 per share, for a total transaction of $14,340,706.56. Following the completion of the purchase, the chairman directly owned 13,699,959 shares of the company's stock, valued at approximately $710,205,874.56. This represents a 2.06% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 52.21% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Ryan Specialty

A number of large investors have recently modified their holdings of the business. Deutsche Bank AG raised its position in Ryan Specialty by 5.8% during the 4th quarter. Deutsche Bank AG now owns 10,814 shares of the company's stock worth $694,000 after purchasing an additional 595 shares during the last quarter. Nuveen Asset Management LLC boosted its stake in Ryan Specialty by 22.1% during the 4th quarter. Nuveen Asset Management LLC now owns 352,516 shares of the company's stock valued at $22,617,000 after purchasing an additional 63,741 shares during the last quarter. Quantinno Capital Management LP lifted its position in shares of Ryan Specialty by 5.9% during the 4th quarter. Quantinno Capital Management LP now owns 14,163 shares of the company's stock worth $909,000 after buying an additional 783 shares in the last quarter. ProShare Advisors LLC lifted its position in shares of Ryan Specialty by 11.6% during the 4th quarter. ProShare Advisors LLC now owns 4,979 shares of the company's stock worth $319,000 after buying an additional 519 shares in the last quarter. Finally, Two Sigma Investments LP raised its holdings in shares of Ryan Specialty by 114.9% in the 4th quarter. Two Sigma Investments LP now owns 204,817 shares of the company's stock worth $13,141,000 after purchasing an additional 109,522 shares during the period. 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.