Ryan Specialty (NYSE:RYAN) Shares Gap Down to $52.95

Ryan Specialty Holdings, Inc. (NYSE:RYAN)’s share price gapped down prior to trading on Friday . The stock had previously closed at $52.95, but opened at $50.00. Ryan Specialty shares last traded at $50.64, with a volume of 322,633 shares changing hands.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on RYAN shares. Citigroup upped their target price on shares of Ryan Specialty from $49.00 to $52.00 and gave the company a “neutral” rating in a report on Wednesday, February 28th. Keefe, Bruyette & Woods upped their target price on shares of Ryan Specialty from $56.00 to $62.00 and gave the company an “outperform” rating in a report on Wednesday, April 10th. JMP Securities restated a “market perform” rating on shares of Ryan Specialty in a report on Monday, April 15th. JPMorgan Chase & Co. upped their price target on shares of Ryan Specialty from $47.00 to $49.00 and gave the company an “underweight” rating in a research report on Monday, April 8th. Finally, Wells Fargo & Company upped their price target on shares of Ryan Specialty from $57.00 to $58.00 and gave the company an “overweight” rating in a research report on Thursday, April 11th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $54.25.

Ryan Specialty Stock Performance

The firm has a market capitalization of $13.40 billion, a price-to-earnings ratio of 103.80 and a beta of 0.58. The stock’s 50 day moving average price is $52.47 and its two-hundred day moving average price is $47.05. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 1.98.

Ryan Specialty (NYSE:RYAN) last issued its quarterly earnings data on Thursday, May 2nd. The company reported $0.35 EPS for the quarter, meeting analysts’ consensus estimates of $0.35. The firm had revenue of $552.00 million for the quarter, compared to analysts’ expectations of $549.06 million. Ryan Specialty had a net margin of 9.36% and a return on equity of 44.84%. The firm’s revenue was up 20.6% on a year-over-year basis. During the same period in the prior year, the company earned $0.26 EPS. On average, analysts forecast that Ryan Specialty Holdings, Inc. will post 1.77 EPS for the current year.

Ryan Specialty Announces Dividend

The firm also recently disclosed a None dividend, which was paid on Wednesday, March 27th. Investors of record on Wednesday, March 13th were paid a $0.34 dividend. The ex-dividend date was Tuesday, March 12th. Ryan Specialty’s payout ratio is 86.28%.

Institutional Investors Weigh In On Ryan Specialty

Hedge funds have recently modified their holdings of the company. California Public Employees Retirement System acquired a new stake in shares of Ryan Specialty during the 3rd quarter worth about $5,041,000. American Century Companies Inc. lifted its holdings in shares of Ryan Specialty by 17.7% during the 3rd quarter. American Century Companies Inc. now owns 1,624,944 shares of the company’s stock worth $78,647,000 after acquiring an additional 244,490 shares during the period. Boston Partners purchased a new position in shares of Ryan Specialty during the 3rd quarter worth about $50,090,000. Algert Global LLC purchased a new position in shares of Ryan Specialty during the 3rd quarter worth about $1,706,000. Finally, UBS Group AG lifted its holdings in shares of Ryan Specialty by 134.9% during the 3rd quarter. UBS Group AG now owns 138,413 shares of the company’s stock worth $6,699,000 after acquiring an additional 79,478 shares during the period. 84.82% of the stock is owned by institutional investors and hedge funds.

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.