Mizuho Cuts Ryan Specialty (NYSE:RYAN) Price Target to $44.00

Ryan Specialty (NYSE:RYAN) had its price target decreased by Mizuho from $53.00 to $44.00 in a research report report published on Friday morning,Benzinga reports. Mizuho currently has a neutral rating on the stock.

RYAN has been the topic of several other reports. UBS Group decreased their price objective on shares of Ryan Specialty from $71.00 to $65.00 and set a “buy” rating on the stock in a research note on Tuesday, February 17th. Weiss Ratings downgraded Ryan Specialty from a “hold (c-)” rating to a “sell (d+)” rating in a report on Thursday, February 5th. Piper Sandler decreased their price target on Ryan Specialty from $58.00 to $43.00 and set a “neutral” rating on the stock in a research report on Friday, February 13th. Morgan Stanley cut their price objective on Ryan Specialty from $61.00 to $55.00 and set an “overweight” rating for the company in a research report on Monday, February 23rd. Finally, JPMorgan Chase & Co. decreased their target price on Ryan Specialty from $63.00 to $56.00 and set an “underweight” rating on the stock in a report on Wednesday, January 7th. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, five have assigned a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $56.87.

Ryan Specialty Trading Up 0.1%

NYSE:RYAN opened at $39.30 on Friday. Ryan Specialty has a 12 month low of $37.29 and a 12 month high of $77.16. The firm has a market cap of $10.38 billion, a price-to-earnings ratio of 93.56, a P/E/G ratio of 1.02 and a beta of 0.66. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 2.62. The company’s 50 day moving average is $47.38 and its 200-day moving average is $52.56.

Ryan Specialty (NYSE:RYAN) last posted its quarterly earnings data on Thursday, February 12th. The company reported $0.45 earnings per share for the quarter, missing the consensus estimate of $0.50 by ($0.05). The business had revenue of $751.21 million during the quarter, compared to the consensus estimate of $777.43 million. Ryan Specialty had a net margin of 7.02% and a return on equity of 46.41%. The firm’s revenue was up 13.2% compared to the same quarter last year. During the same period in the prior year, the company posted $0.45 earnings per share. Equities analysts anticipate that Ryan Specialty will post 2.29 EPS for the current year.

Ryan Specialty Increases Dividend

The firm also recently declared 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 is a boost from Ryan Specialty’s previous quarterly dividend of $0.12. The ex-dividend date of this dividend is Tuesday, February 24th. This represents a $0.52 annualized dividend and a yield of 1.3%. Ryan Specialty’s payout ratio is presently 123.81%.

Insider Buying and Selling

In other news, Director Patrick G. Ryan, Jr. acquired 25,500 shares of the stock in a transaction dated Monday, February 23rd. The shares were bought at an average cost of $39.96 per share, for a total transaction of $1,018,980.00. Following the purchase, the director directly owned 428,295 shares of the company’s stock, valued at approximately $17,114,668.20. This trade represents a 6.33% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Timothy William Turner sold 129,570 shares of the firm’s stock in a transaction on Friday, December 12th. The shares were sold at an average price of $53.61, for a total value of $6,946,247.70. Following the sale, the chief executive officer directly owned 12,553 shares of the company’s stock, valued at $672,966.33. This represents a 91.17% decrease in their position. The SEC filing for this sale provides additional information. 52.21% of the stock is owned by company insiders.

Hedge Funds Weigh In On Ryan Specialty

Institutional investors and hedge funds have recently bought and sold shares of the company. Ameritas Investment Partners Inc. grew its stake in 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 during the period. MAI Capital Management lifted its holdings in shares of 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 grew its position 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 increased its stake in 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 valued at $1,848,000 after purchasing an additional 203 shares in the last quarter. Finally, Covestor Ltd increased its stake in Ryan Specialty by 16.8% during the 4th quarter. Covestor Ltd now owns 1,467 shares of the company’s stock valued at $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.

About Ryan Specialty

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.