Ryan Specialty Holdings, Inc. (NYSE:RYAN) Receives Average Rating of “Hold” from Brokerages

Ryan Specialty Holdings, Inc. (NYSE:RYAN) has received a consensus rating of “Hold” from the eleven analysts that are currently covering the stock, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and four have assigned a buy rating to the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $63.40.

Several equities research analysts recently issued reports on the company. Wells Fargo & Company upped their price target on Ryan Specialty from $60.00 to $63.00 and gave the stock an “equal weight” rating in a report on Friday, August 2nd. The Goldman Sachs Group increased their price objective on shares of Ryan Specialty from $58.00 to $64.00 and gave the company a “neutral” rating in a research note on Monday, August 5th. JPMorgan Chase & Co. upped their target price on Ryan Specialty from $54.00 to $56.00 and gave the company an “underweight” rating in a report on Friday, August 2nd. Citigroup lifted their price target on Ryan Specialty from $56.00 to $62.00 and gave the stock a “neutral” rating in a report on Tuesday, July 23rd. Finally, UBS Group boosted their price objective on Ryan Specialty from $67.00 to $76.00 and gave the stock a “buy” rating in a research report on Tuesday, August 13th.

Ryan Specialty Stock Down 0.1 %

Ryan Specialty stock opened at $62.72 on Friday. The firm has a market capitalization of $16.40 billion, a price-to-earnings ratio of 118.34, a price-to-earnings-growth ratio of 1.53 and a beta of 0.62. The firm’s fifty day moving average price is $62.79 and its two-hundred day moving average price is $57.11. Ryan Specialty has a 1-year low of $41.49 and a 1-year high of $69.03. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 1.81.

Ryan Specialty (NYSE:RYAN) last announced its quarterly earnings results on Thursday, August 1st. The company reported $0.58 earnings per share for the quarter, beating the consensus estimate of $0.56 by $0.02. The business had revenue of $695.40 million for the quarter, compared to analysts’ expectations of $695.56 million. Ryan Specialty had a net margin of 10.21% and a return on equity of 48.08%. The firm’s revenue for the quarter was up 18.9% compared to the same quarter last year. During the same quarter last year, the firm earned $0.45 EPS. On average, equities research analysts predict that Ryan Specialty will post 1.81 earnings per share for the current fiscal year.

Ryan Specialty Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, August 27th. Stockholders of record on Tuesday, August 13th were given a dividend of $0.11 per share. The ex-dividend date of this dividend was Tuesday, August 13th. This represents a $0.44 dividend on an annualized basis and a dividend yield of 0.70%. Ryan Specialty’s dividend payout ratio is presently 83.02%.

Insider Transactions at Ryan Specialty

In related news, Director Nicholas Dominic Cortezi sold 5,375 shares of the company’s stock in a transaction that occurred on Wednesday, August 28th. The shares were sold at an average price of $64.73, for a total transaction of $347,923.75. Following the sale, the director now owns 2,685 shares of the company’s stock, valued at approximately $173,800.05. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Ryan Specialty news, EVP Jeremiah Rawlins Bickham sold 26,233 shares of Ryan Specialty stock in a transaction that occurred on Wednesday, August 14th. The shares were sold at an average price of $65.18, for a total transaction of $1,709,866.94. Following the completion of the sale, the executive vice president now directly owns 24,845 shares in the company, valued at $1,619,397.10. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Nicholas Dominic Cortezi sold 5,375 shares of the stock in a transaction on Wednesday, August 28th. The stock was sold at an average price of $64.73, for a total transaction of $347,923.75. Following the completion of the transaction, the director now directly owns 2,685 shares in the company, valued at approximately $173,800.05. The disclosure for this sale can be found here. In the last 90 days, insiders sold 2,107,136 shares of company stock worth $131,860,032. 11.10% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Sanctuary Advisors LLC purchased a new stake in Ryan Specialty in the second quarter worth approximately $802,000. Teachers Retirement System of The State of Kentucky bought a new stake in shares of Ryan Specialty in the 2nd quarter worth approximately $1,176,000. Northwestern Mutual Wealth Management Co. boosted its stake in shares of Ryan Specialty by 1,688.7% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 2,844 shares of the company’s stock valued at $165,000 after purchasing an additional 2,685 shares in the last quarter. Algert Global LLC grew its holdings in shares of Ryan Specialty by 19.2% during the 2nd quarter. Algert Global LLC now owns 42,499 shares of the company’s stock valued at $2,461,000 after purchasing an additional 6,859 shares during the last quarter. Finally, Ascent Group LLC purchased a new position in Ryan Specialty in the 2nd quarter worth $217,000. 84.82% of the stock is currently owned by hedge funds and other institutional investors.

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.