JMP Securities Reiterates “Market Perform” Rating for Ryan Specialty (NYSE:RYAN)

JMP Securities reiterated their market perform rating on shares of Ryan Specialty (NYSE:RYAN) in a report released on Monday morning, Benzinga reports.

A number of other analysts have also commented on RYAN. Keefe, Bruyette & Woods raised their price target on Ryan Specialty from $56.00 to $62.00 and gave the stock an outperform rating in a research note on Wednesday, April 10th. Citigroup raised their price target on Ryan Specialty from $49.00 to $52.00 and gave the stock a neutral rating in a research note on Wednesday, February 28th. JPMorgan Chase & Co. increased their price objective on Ryan Specialty from $47.00 to $49.00 and gave the stock an underweight rating in a report on Monday, April 8th. Finally, Wells Fargo & Company increased their price objective on Ryan Specialty from $57.00 to $58.00 and gave the stock an overweight rating in a report on Thursday, April 11th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of Hold and an average target price of $54.25.

Ryan Specialty Stock Performance

Shares of RYAN stock opened at $50.29 on Monday. The stock has a fifty day moving average of $51.38 and a 200 day moving average of $46.87. Ryan Specialty has a 52 week low of $39.44 and a 52 week high of $56.51. The firm has a market capitalization of $13.09 billion, a price-to-earnings ratio of 98.61 and a beta of 0.52. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 1.98.

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

Ryan Specialty Dividend Announcement

The business also recently declared a None dividend, which was paid on Wednesday, March 27th. Stockholders of record on Wednesday, March 13th were issued a dividend of $0.34 per share. The ex-dividend date was Tuesday, March 12th. Ryan Specialty’s payout ratio is presently 86.28%.

Hedge Funds Weigh In On Ryan Specialty

Several institutional investors and hedge funds have recently modified their holdings of RYAN. HighTower Advisors LLC increased its holdings in shares of Ryan Specialty by 31.5% during the first quarter. HighTower Advisors LLC now owns 9,565 shares of the company’s stock valued at $375,000 after acquiring an additional 2,290 shares in the last quarter. Citigroup Inc. increased its holdings in Ryan Specialty by 16.9% in the 1st quarter. Citigroup Inc. now owns 4,744 shares of the company’s stock worth $184,000 after buying an additional 685 shares in the last quarter. Natixis Advisors L.P. bought a new stake in Ryan Specialty in the 1st quarter worth about $515,000. Dimensional Fund Advisors LP bought a new stake in Ryan Specialty in the 1st quarter worth about $380,000. Finally, Vanguard Group Inc. increased its holdings in Ryan Specialty by 42.3% in the 1st quarter. Vanguard Group Inc. now owns 6,747,855 shares of the company’s stock worth $261,749,000 after buying an additional 2,006,018 shares in the last quarter. 84.82% of the stock is currently owned by institutional investors.

Ryan Specialty Company Profile

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.