Ryan Specialty (NYSE:RYAN) Stock Price Target Lowered at Wells Fargo & Company

Ryan Specialty (NYSE:RYAN) had its target price lowered by Wells Fargo & Company from $43.00 to $41.00 in a research report released on Monday morning,Benzinga reports. The firm currently has an equal weight rating on the stock.

RYAN has been the subject of several other reports. Citigroup boosted their price target on shares of Ryan Specialty from $50.00 to $53.50 and gave the stock a “buy” rating in a research note on Monday, August 3rd. Keefe, Bruyette & Woods raised their price objective on Ryan Specialty from $48.00 to $54.00 and gave the company an “outperform” rating in a research note on Friday, July 31st. Mizuho decreased their price objective on Ryan Specialty from $43.00 to $40.00 and set a “neutral” rating on the stock in a report on Wednesday, October 7th. Barclays lifted their price objective on Ryan Specialty from $46.00 to $48.00 and gave the stock an “overweight” rating in a report on Friday, July 31st. Finally, UBS Group boosted their target price on Ryan Specialty from $50.00 to $55.00 and gave the company a “buy” rating in a research note on Monday, August 3rd. Eight analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $52.21.

Ryan Specialty Stock Performance

Shares of NYSE RYAN opened at $37.19 on Monday. The stock has a market cap of $9.51 billion, a price-to-earnings ratio of 51.65, a P/E/G ratio of 0.74 and a beta of 0.61. The stock’s 50-day moving average is $40.66 and its 200 day moving average is $37.68. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 3.51. Ryan Specialty has a 1-year low of $29.28 and a 1-year high of $58.94.

Ryan Specialty (NYSE:RYAN) last issued its quarterly earnings results on Thursday, July 30th. The company reported $0.74 EPS for the quarter, beating analysts’ consensus estimates of $0.60 by $0.14. Ryan Specialty had a net margin of 7.55% and a return on equity of 43.97%. The business had revenue of $916.65 million for the quarter, compared to analysts’ expectations of $873.93 million. During the same period last year, the business earned $0.66 earnings per share. The business’s quarterly revenue was up 7.2% on a year-over-year basis. On average, sell-side analysts anticipate that Ryan Specialty will post 2.17 EPS for the current fiscal year.

Ryan Specialty Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, August 25th. Investors of record on Tuesday, August 11th were paid a $0.13 dividend. The ex-dividend date of this dividend was Tuesday, August 11th. This represents a $0.52 annualized dividend and a dividend yield of 1.4%. Ryan Specialty’s dividend payout ratio (DPR) is presently 72.22%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Allworth Financial LP increased its position in Ryan Specialty by 70.0% during the 2nd quarter. Allworth Financial LP now owns 787 shares of the company’s stock valued at $30,000 after purchasing an additional 324 shares during the period. Arizona State Retirement System boosted its position in Ryan Specialty by 1.1% during the 2nd quarter. Arizona State Retirement System now owns 30,415 shares of the company’s stock valued at $1,148,000 after acquiring an additional 342 shares in the last quarter. Parallel Advisors LLC grew its holdings in shares of Ryan Specialty by 54.9% during the 1st quarter. Parallel Advisors LLC now owns 1,013 shares of the company’s stock worth $34,000 after acquiring an additional 359 shares during the period. Public Employees Retirement System of Ohio grew its holdings in shares of Ryan Specialty by 1.2% during the 1st quarter. Public Employees Retirement System of Ohio now owns 32,400 shares of the company’s stock worth $1,093,000 after acquiring an additional 398 shares during the period. Finally, State of Michigan Retirement System raised its position in shares of Ryan Specialty by 2.2% in the 1st quarter. State of Michigan Retirement System now owns 27,400 shares of the company’s stock worth $924,000 after acquiring an additional 600 shares in the last quarter. Institutional investors own 84.82% of the company’s stock.

Ryan Specialty Company Profile

Ryan Specialty Holdings, Inc is a specialty insurance services company that supports insurance brokers, agents, carriers and other industry participants. Its businesses focus on areas of the market that often require specialized underwriting expertise, distribution capabilities and risk-management knowledge.

The company operates through wholesale brokerage, underwriting management and delegated authority platforms. Its products and services address a range of specialty lines, including property and casualty insurance, professional liability, cyber coverage, transactional risk, transportation, environmental risks and other complex or hard-to-place exposures.

Ryan Specialty was founded in 2010 by Patrick G.