Ryan Specialty (NYSE:RYAN) Issues Quarterly Earnings Results

Ryan Specialty (NYSE:RYAN) announced its quarterly earnings data on Wednesday. The company reported $0.41 EPS for the quarter, meeting the consensus estimate of $0.41, Briefing.com reports. The company had revenue of $604.69 million for the quarter, compared to the consensus estimate of $602.04 million. Ryan Specialty had a net margin of 10.31% and a return on equity of 48.99%. Ryan Specialty’s revenue for the quarter was up 20.5% on a year-over-year basis. During the same period in the prior year, the firm posted $0.32 EPS.

Ryan Specialty Price Performance

Shares of NYSE:RYAN traded up $0.12 during mid-day trading on Friday, reaching $65.99. The stock had a trading volume of 26,441 shares, compared to its average volume of 874,514. The company has a market cap of $17.25 billion, a P/E ratio of 85.59, a price-to-earnings-growth ratio of 1.56 and a beta of 0.62. Ryan Specialty has a 1 year low of $41.49 and a 1 year high of $73.10. The business’s 50 day moving average price is $66.99 and its 200 day moving average price is $60.29. 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 Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 26th. Stockholders of record on Tuesday, November 12th will be given a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a dividend yield of 0.67%. The ex-dividend date is Tuesday, November 12th. Ryan Specialty’s payout ratio is currently 57.14%.

Analysts Set New Price Targets

A number of research firms have commented on RYAN. JPMorgan Chase & Co. lifted their target price on Ryan Specialty from $54.00 to $56.00 and gave the stock an “underweight” rating in a report on Friday, August 2nd. Barclays initiated coverage on shares of Ryan Specialty in a report on Wednesday, September 4th. They issued an “overweight” rating and a $76.00 target price on the stock. Bank of America boosted their target price on shares of Ryan Specialty from $75.00 to $84.00 and gave the company a “buy” rating in a research note on Thursday, October 10th. The Goldman Sachs Group raised their price target on Ryan Specialty from $64.00 to $72.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 9th. Finally, Citigroup upped their price objective on Ryan Specialty from $56.00 to $62.00 and gave the company a “neutral” rating in a research report on Tuesday, July 23rd. One analyst has rated the stock with a sell rating, five have assigned a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $70.33.

Insider Buying and Selling at Ryan Specialty

In other news, President Timothy William Turner sold 2,000,000 shares of the stock in a transaction on Friday, August 9th. The shares were sold at an average price of $62.45, for a total value of $124,900,000.00. Following the sale, the president now owns 8,095 shares of the company’s stock, valued at approximately $505,532.75. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Ryan Specialty news, President Timothy William Turner sold 2,000,000 shares of the stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $62.45, for a total transaction of $124,900,000.00. Following the transaction, the president now directly owns 8,095 shares in the company, valued at $505,532.75. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Nicholas Dominic Cortezi sold 2,325 shares of the firm’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $64.60, for a total value of $150,195.00. Following the sale, the director now directly owns 3,463 shares in the company, valued at approximately $223,709.80. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 2,107,136 shares of company stock worth $131,860,032 over the last 90 days. 11.10% of the stock is owned by insiders.

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.