Citigroup Increases Ryan Specialty (NYSE:RYAN) Price Target to $62.00

Ryan Specialty (NYSE:RYAN) had its price objective upped by Citigroup from $56.00 to $62.00 in a research report sent to investors on Tuesday morning, Benzinga reports. The brokerage currently has a neutral rating on the stock.

A number of other research analysts have also weighed in on the stock. Bank of America assumed coverage on shares of Ryan Specialty in a research note on Wednesday, May 22nd. They issued a buy rating and a $67.00 price target on the stock. JMP Securities reaffirmed a market perform rating on shares of Ryan Specialty in a research note on Monday, April 15th. UBS Group raised their price target on shares of Ryan Specialty from $63.00 to $67.00 and gave the company a buy rating in a research note on Tuesday, July 9th. JPMorgan Chase & Co. raised their target price on shares of Ryan Specialty from $49.00 to $54.00 and gave the stock an underweight rating in a research note on Thursday, July 11th. Finally, Wolfe Research lowered shares of Ryan Specialty from an outperform rating to a peer perform rating in a research note on Monday, May 6th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of Hold and a consensus price target of $58.50.

Ryan Specialty Trading Up 2.6 %

RYAN stock opened at $60.61 on Tuesday. The company’s 50-day simple moving average is $56.36 and its 200-day simple moving average is $51.90. The company has a quick ratio of 1.15, a current ratio of 1.15 and a debt-to-equity ratio of 1.99. Ryan Specialty has a 52-week low of $41.49 and a 52-week high of $61.29. The firm has a market cap of $15.79 billion, a P/E ratio of 114.36, a PEG ratio of 1.52 and a beta of 0.62.

Ryan Specialty (NYSE:RYAN) last issued its quarterly earnings results on Thursday, May 2nd. The company reported $0.35 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.35. The firm had revenue of $552.00 million for the quarter, compared to analyst estimates of $549.06 million. Ryan Specialty had a net margin of 9.15% and a return on equity of 45.87%. Ryan Specialty’s quarterly revenue was up 20.6% compared to the same quarter last year. During the same period last year, the company posted $0.26 EPS. As a group, equities analysts forecast that Ryan Specialty will post 1.77 EPS for the current fiscal year.

Ryan Specialty Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, May 28th. Investors of record on Tuesday, May 14th were issued a $0.11 dividend. The ex-dividend date was Monday, May 13th. This represents a $0.44 annualized dividend and a yield of 0.73%. Ryan Specialty’s dividend payout ratio (DPR) is presently 83.02%.

Hedge Funds Weigh In On Ryan Specialty

Several hedge funds and other institutional investors have recently added to or reduced their stakes in RYAN. GAMMA Investing LLC boosted its position in Ryan Specialty by 96.4% in the 2nd quarter. GAMMA Investing LLC now owns 605 shares of the company’s stock valued at $35,000 after buying an additional 297 shares during the period. Parkside Financial Bank & Trust lifted its position in shares of Ryan Specialty by 1,283.6% during the 4th quarter. Parkside Financial Bank & Trust now owns 1,010 shares of the company’s stock worth $43,000 after purchasing an additional 937 shares during the last quarter. Intelligent Financial Strategies purchased a new stake in shares of Ryan Specialty during the 1st quarter worth $44,000. Benjamin F. Edwards & Company Inc. purchased a new stake in shares of Ryan Specialty during the 1st quarter worth $45,000. Finally, Kapitalo Investimentos Ltda purchased a new stake in shares of Ryan Specialty during the 4th quarter worth $106,000. Hedge funds and other 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.