Ryan Specialty (NYSE:RYAN) Downgraded to “Strong Sell” Rating by Zacks Research

Zacks Research cut shares of Ryan Specialty (NYSE:RYAN) from a hold rating to a strong sell rating in a report released on Tuesday morning,Zacks.com reports.

A number of other analysts have also recently commented on the stock. Wells Fargo & Company cut their price target on shares of Ryan Specialty from $63.00 to $56.00 and set an “overweight” rating for the company in a research note on Friday, February 13th. BMO Capital Markets cut shares of Ryan Specialty from an “outperform” rating to a “market perform” rating and dropped their target price for the company from $66.00 to $43.00 in a report on Wednesday. Weiss Ratings downgraded shares of Ryan Specialty from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Thursday, February 5th. TD Cowen restated a “buy” rating on shares of Ryan Specialty in a research note on Wednesday, November 26th. Finally, Cantor Fitzgerald dropped their price objective on Ryan Specialty from $52.00 to $45.00 and set a “neutral” rating on the stock in a research note on Tuesday, February 17th. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, five have given a Hold rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Ryan Specialty currently has a consensus rating of “Hold” and a consensus target price of $57.47.

Ryan Specialty Price Performance

NYSE:RYAN opened at $38.01 on Tuesday. Ryan Specialty has a 52-week low of $37.29 and a 52-week high of $77.16. The company has a market cap of $10.04 billion, a P/E ratio of 90.50, a P/E/G ratio of 1.02 and a beta of 0.62. The company has a debt-to-equity ratio of 2.62, a quick ratio of 0.98 and a current ratio of 0.98. The stock’s 50-day simple moving average is $47.95 and its 200 day simple moving average is $52.90.

Ryan Specialty (NYSE:RYAN) last issued its quarterly earnings results on Thursday, February 12th. The company reported $0.45 EPS for the quarter, missing the consensus estimate of $0.50 by ($0.05). The company had revenue of $751.21 million for the quarter, compared to analyst estimates of $777.43 million. Ryan Specialty had a net margin of 7.02% and a return on equity of 46.41%. The business’s revenue for the quarter was up 13.2% on a year-over-year basis. During the same period last year, the company posted $0.45 earnings per share. As a group, sell-side analysts forecast that Ryan Specialty will post 2.29 EPS for the current fiscal year.

Ryan Specialty Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 10th. Shareholders of record on Tuesday, February 24th will be given a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a yield of 1.4%. This is a boost from Ryan Specialty’s previous quarterly dividend of $0.12. The ex-dividend date is Tuesday, February 24th. Ryan Specialty’s dividend payout ratio (DPR) is 123.81%.

Insider Buying and Selling

In related news, CEO Timothy William Turner sold 129,570 shares of Ryan Specialty stock in a transaction that occurred on Friday, December 12th. The stock was sold at an average price of $53.61, for a total transaction of $6,946,247.70. Following the completion of the sale, the chief executive officer directly owned 12,553 shares of the company’s stock, valued at approximately $672,966.33. This trade represents a 91.17% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Patrick G. Ryan, Jr. purchased 25,500 shares of Ryan Specialty stock in a transaction that occurred on Monday, February 23rd. The stock was purchased at an average price of $39.96 per share, with a total value of $1,018,980.00. Following the completion of the purchase, the director directly owned 428,295 shares in the company, valued at $17,114,668.20. This trade represents a 6.33% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders own 52.21% of the company’s stock.

Institutional Investors Weigh In On Ryan Specialty

Hedge funds and other institutional investors have recently modified their holdings of the company. Ameritas Investment Partners Inc. grew its stake in shares of Ryan Specialty by 0.9% in the third quarter. Ameritas Investment Partners Inc. now owns 21,119 shares of the company’s stock valued at $1,190,000 after acquiring an additional 185 shares in the last quarter. MAI Capital Management raised its stake in Ryan Specialty by 65.3% in the 2nd quarter. MAI Capital Management now owns 476 shares of the company’s stock worth $32,000 after purchasing an additional 188 shares in the last quarter. Baker Tilly Wealth Management LLC boosted its holdings in Ryan Specialty by 5.6% in the 3rd quarter. Baker Tilly Wealth Management LLC now owns 3,595 shares of the company’s stock valued at $203,000 after purchasing an additional 192 shares during the period. Public Employees Retirement System of Ohio grew its position in shares of Ryan Specialty by 0.6% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 32,797 shares of the company’s stock worth $1,848,000 after purchasing an additional 203 shares in the last quarter. Finally, Covestor Ltd grew its position in shares of Ryan Specialty by 16.8% during the 4th quarter. Covestor Ltd now owns 1,467 shares of the company’s stock worth $76,000 after purchasing an additional 211 shares in the last quarter. Institutional investors and hedge funds own 84.82% of the company’s stock.

Ryan Specialty Company Profile

Ryan Specialty Group, Inc (NYSE: RYAN) is a global specialty insurance and reinsurance platform that partners with a network of insurers and reinsurers to deliver tailored risk solutions. The company focuses on complex and large-scale risks across multiple industry sectors, leveraging its underwriting expertise to structure coverage programs that meet clients’ unique needs.

Ryan Specialty’s core offerings span a diverse range of specialty lines, including casualty, property, professional liability, marine and energy, program administration, and sports and entertainment.