Ryan Specialty (NYSE:RYAN) Cut to Market Perform at BMO Capital Markets

BMO Capital Markets downgraded shares of Ryan Specialty (NYSE:RYAN) from an outperform rating to a market perform rating in a research note released on Wednesday, MarketBeat.com reports. The brokerage currently has $43.00 price target on the stock, down from their previous price target of $66.00.

Several other research analysts have also commented on the stock. Barclays dropped their price target on shares of Ryan Specialty from $58.00 to $52.00 and set an “overweight” rating on the stock in a research note on Friday, February 13th. TD Cowen restated a “buy” rating on shares of Ryan Specialty in a research note on Wednesday, November 26th. Piper Sandler cut their target price on Ryan Specialty from $58.00 to $43.00 and set a “neutral” rating for the company in a research note on Friday, February 13th. Keefe, Bruyette & Woods dropped their target price on Ryan Specialty from $65.00 to $55.00 and set an “outperform” rating for the company in a report on Friday, February 13th. Finally, Cantor Fitzgerald cut their price target on shares of Ryan Specialty from $52.00 to $45.00 and set a “neutral” rating for the company in a report on Tuesday, February 17th. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, five have assigned a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat.com, Ryan Specialty currently has an average rating of “Hold” and an average price target of $56.87.

Ryan Specialty Stock Performance

RYAN opened at $39.30 on Wednesday. The business has a fifty day simple moving average of $47.38 and a 200-day simple moving average of $52.67. The firm has a market cap of $10.38 billion, a PE ratio of 93.56, a P/E/G ratio of 1.02 and a beta of 0.62. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 2.62. Ryan Specialty has a fifty-two week low of $37.29 and a fifty-two week high of $77.16.

Ryan Specialty (NYSE:RYAN) last announced its 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 analysts’ expectations of $777.43 million. Ryan Specialty had a net margin of 7.02% and a return on equity of 46.41%. The company’s revenue for the quarter was up 13.2% on a year-over-year basis. During the same period in the prior year, the company earned $0.45 earnings per share. As a group, equities analysts predict that Ryan Specialty will post 2.29 EPS for the current fiscal year.

Ryan Specialty Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 10th. Investors of record on Tuesday, February 24th will be issued a dividend of $0.13 per share. The ex-dividend date is Tuesday, February 24th. This is a boost from Ryan Specialty’s previous quarterly dividend of $0.12. This represents a $0.52 annualized dividend and a yield of 1.3%. Ryan Specialty’s dividend payout ratio is currently 123.81%.

Insiders Place Their Bets

In other Ryan Specialty news, CEO Timothy William Turner sold 129,570 shares of the company’s stock in a transaction on Friday, December 12th. The shares were sold at an average price of $53.61, for a total transaction of $6,946,247.70. Following the sale, the chief executive officer directly owned 12,553 shares of the company’s stock, valued at approximately $672,966.33. This represents a 91.17% 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, Director Patrick G. Ryan, Jr. bought 25,500 shares of the business’s 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. The trade was a 6.33% increase in their position. The disclosure for this purchase is available in the SEC filing. 52.21% of the stock is currently owned by insiders.

Institutional Trading of Ryan Specialty

A number of institutional investors have recently bought and sold shares of RYAN. Vulcan Value Partners LLC raised its position in shares of Ryan Specialty by 631.7% in the 4th quarter. Vulcan Value Partners LLC now owns 4,621,079 shares of the company’s stock valued at $238,536,000 after buying an additional 3,989,502 shares in the last quarter. T. Rowe Price Investment Management Inc. increased its stake in Ryan Specialty by 79.9% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 7,552,002 shares of the company’s stock valued at $389,910,000 after acquiring an additional 3,353,926 shares during the last quarter. Independent Franchise Partners LLP acquired a new position in Ryan Specialty during the third quarter valued at approximately $95,798,000. Adage Capital Partners GP L.L.C. lifted its stake in Ryan Specialty by 1,510.0% during the fourth quarter. Adage Capital Partners GP L.L.C. now owns 1,610,000 shares of the company’s stock worth $83,124,000 after purchasing an additional 1,510,000 shares during the last quarter. Finally, Champlain Investment Partners LLC boosted its holdings in shares of Ryan Specialty by 76.9% in the 3rd quarter. Champlain Investment Partners LLC now owns 3,066,011 shares of the company’s stock valued at $172,800,000 after purchasing an additional 1,332,773 shares in the last quarter. Institutional investors 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.