Wells Fargo & Company Boosts Ryan Specialty (NYSE:RYAN) Price Target to $58.00

Ryan Specialty (NYSE:RYAN) had its target price increased by Wells Fargo & Company from $57.00 to $58.00 in a research note published on Thursday morning, Benzinga reports. Wells Fargo & Company currently has an overweight rating on the stock.

Several other brokerages have also recently weighed in on RYAN. Keefe, Bruyette & Woods increased their price target on shares of Ryan Specialty from $56.00 to $62.00 and gave the company an outperform rating in a research report on Wednesday. JPMorgan Chase & Co. increased their target price on shares of Ryan Specialty from $47.00 to $49.00 and gave the stock an underweight rating in a report on Monday, April 8th. Finally, Citigroup boosted their price target on Ryan Specialty from $49.00 to $52.00 and gave the company a neutral rating in a report on Wednesday, February 28th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and four have given a buy rating to the company. According to MarketBeat, Ryan Specialty has a consensus rating of Hold and an average price target of $54.25.

Ryan Specialty Trading Down 0.9 %

NYSE RYAN opened at $49.95 on Thursday. The stock has a 50-day moving average of $50.82 and a 200-day moving average of $46.82. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 1.98. Ryan Specialty has a 1-year low of $39.44 and a 1-year high of $56.51. The firm has a market cap of $13.00 billion, a PE ratio of 97.94 and a beta of 0.52.

Ryan Specialty (NYSE:RYAN) last announced its quarterly earnings data on Tuesday, February 27th. The company reported $0.35 earnings per share for the quarter, meeting the consensus estimate of $0.35. Ryan Specialty had a return on equity of 44.84% and a net margin of 9.36%. The firm had revenue of $532.90 million during the quarter, compared to the consensus estimate of $524.08 million. During the same quarter in the previous year, the company posted $0.27 earnings per share. The business’s revenue was up 22.5% on a year-over-year basis. As a group, sell-side analysts forecast that Ryan Specialty will post 1.77 EPS for the current year.

Ryan Specialty Dividend Announcement

The business also recently disclosed a None dividend, which was paid on Wednesday, March 27th. Shareholders of record on Wednesday, March 13th were issued a $0.34 dividend. The ex-dividend date of this dividend was Tuesday, March 12th. Ryan Specialty’s dividend payout ratio (DPR) is presently 86.28%.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. PNC Financial Services Group Inc. grew its stake in Ryan Specialty by 192.0% in the third quarter. PNC Financial Services Group Inc. now owns 549 shares of the company’s stock worth $27,000 after purchasing an additional 361 shares during the period. Royal Bank of Canada increased its stake in shares of Ryan Specialty by 524.8% in the 1st quarter. Royal Bank of Canada now owns 781 shares of the company’s stock worth $31,000 after acquiring an additional 656 shares in the last quarter. Comerica Bank purchased a new position in Ryan Specialty during the 3rd quarter valued at about $34,000. Parkside Financial Bank & Trust boosted its stake in Ryan Specialty by 1,283.6% during the fourth quarter. Parkside Financial Bank & Trust now owns 1,010 shares of the company’s stock worth $43,000 after acquiring an additional 937 shares in the last quarter. Finally, American International Group Inc. purchased a new stake in Ryan Specialty in the second quarter worth about $50,000. Institutional investors own 84.82% of the company’s stock.

About Ryan Specialty

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.