Ryan Specialty (NYSE:RYAN) Cut to “Sell” at Wall Street Zen

Wall Street Zen lowered shares of Ryan Specialty (NYSE:RYAN) from a hold rating to a sell rating in a report released on Saturday.

Other equities research analysts have also issued research reports about the stock. TD Cowen started coverage on shares of Ryan Specialty in a report on Thursday, April 10th. They issued a “buy” rating and a $89.00 price target for the company. Keefe, Bruyette & Woods reduced their price target on shares of Ryan Specialty from $76.00 to $75.00 and set an “outperform” rating for the company in a report on Wednesday, April 9th. Wells Fargo & Company reduced their price target on shares of Ryan Specialty from $65.00 to $63.00 and set an “equal weight” rating for the company in a report on Thursday, July 10th. Barclays reduced their price target on shares of Ryan Specialty from $83.00 to $79.00 and set an “overweight” rating for the company in a report on Monday, July 7th. Finally, Morgan Stanley reduced their price objective on shares of Ryan Specialty from $80.00 to $78.00 and set an “overweight” rating for the company in a research note on Monday, July 14th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, Ryan Specialty has an average rating of “Moderate Buy” and a consensus target price of $76.00.

Ryan Specialty Trading Down 1.2%

Shares of RYAN opened at $65.46 on Friday. Ryan Specialty has a 1-year low of $59.89 and a 1-year high of $77.16. The company has a 50-day moving average of $67.22 and a 200 day moving average of $68.39. The firm has a market capitalization of $17.18 billion, a price-to-earnings ratio of 192.53, a PEG ratio of 1.79 and a beta of 0.66. The company has a debt-to-equity ratio of 3.45, a current ratio of 1.05 and a quick ratio of 1.05.

Ryan Specialty (NYSE:RYAN) last announced its quarterly earnings data on Thursday, May 1st. The company reported $0.39 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.39. Ryan Specialty had a net margin of 6.97% and a return on equity of 47.70%. The company had revenue of $690.17 million during the quarter, compared to analyst estimates of $680.80 million. During the same quarter last year, the business posted $0.35 EPS. The firm’s revenue for the quarter was up 25.0% on a year-over-year basis. On average, research analysts expect that Ryan Specialty will post 2.29 EPS for the current year.

Ryan Specialty Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, May 27th. Stockholders of record on Tuesday, May 13th were issued a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 0.73%. The ex-dividend date of this dividend was Tuesday, May 13th. Ryan Specialty’s dividend payout ratio (DPR) is currently 141.18%.

Insider Buying and Selling at Ryan Specialty

In other news, Director David P. Bolger sold 5,000 shares of the company’s stock in a transaction on Tuesday, June 3rd. The shares were sold at an average price of $70.80, for a total value of $354,000.00. Following the sale, the director directly owned 71,467 shares of the company’s stock, valued at $5,059,863.60. This represents a 6.54% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Mark Stephen Katz sold 14,377 shares of the company’s stock in a transaction on Friday, June 13th. The shares were sold at an average price of $65.84, for a total transaction of $946,581.68. Following the completion of the sale, the executive vice president directly owned 1,117 shares in the company, valued at $73,543.28. This trade represents a 92.79% decrease in their ownership of the stock. The disclosure for this sale can be found here. 52.21% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Ryan Specialty

Large investors have recently made changes to their positions in the company. Whittier Trust Co. of Nevada Inc. lifted its stake in shares of Ryan Specialty by 281.6% in the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 332 shares of the company’s stock valued at $25,000 after purchasing an additional 245 shares during the period. SVB Wealth LLC acquired a new position in Ryan Specialty during the first quarter worth $26,000. WPG Advisers LLC acquired a new position in Ryan Specialty during the first quarter worth $32,000. Central Pacific Bank Trust Division acquired a new position in Ryan Specialty during the second quarter worth $31,000. Finally, Golden State Wealth Management LLC acquired a new position in Ryan Specialty during the first quarter worth $35,000. 84.82% of the stock is currently 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.