Ryan Specialty Holdings, Inc. (NYSE:RYAN) to Issue Dividend Increase – $0.12 Per Share

Ryan Specialty Holdings, Inc. (NYSE:RYAN) declared a quarterly dividend on Thursday, February 20th, Wall Street Journal reports. Investors of record on Tuesday, March 4th will be paid a dividend of 0.12 per share on Tuesday, March 18th. This represents a $0.48 annualized dividend and a yield of 0.73%. The ex-dividend date of this dividend is Tuesday, March 4th. This is a positive change from Ryan Specialty’s previous quarterly dividend of $0.11.

Ryan Specialty has a dividend payout ratio of 16.4% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Ryan Specialty to earn $2.29 per share next year, which means the company should continue to be able to cover its $0.44 annual dividend with an expected future payout ratio of 19.2%.

Ryan Specialty Price Performance

NYSE RYAN traded down $3.05 on Friday, hitting $65.55. 2,425,852 shares of the company were exchanged, compared to its average volume of 990,822. The firm has a 50 day moving average of $65.61 and a two-hundred day moving average of $67.26. The company has a market cap of $17.16 billion, a P/E ratio of 85.13, a P/E/G ratio of 1.21 and a beta of 0.72. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 2.40. Ryan Specialty has a 1-year low of $45.72 and a 1-year high of $75.97.

Ryan Specialty (NYSE:RYAN) last announced its quarterly earnings data on Thursday, February 20th. The company reported $0.45 earnings per share for the quarter, missing the consensus estimate of $0.47 by ($0.02). The firm had revenue of $663.53 million for the quarter, compared to the consensus estimate of $658.80 million. Ryan Specialty had a return on equity of 47.90% and a net margin of 10.31%. On average, equities analysts predict that Ryan Specialty will post 1.82 EPS for the current year.

Analyst Ratings Changes

Several analysts have weighed in on RYAN shares. Wells Fargo & Company boosted their price objective on Ryan Specialty from $64.00 to $69.00 and gave the stock an “equal weight” rating in a report on Friday. Keefe, Bruyette & Woods dropped their price objective on Ryan Specialty from $77.00 to $76.00 and set an “outperform” rating for the company in a report on Friday. Morgan Stanley assumed coverage on Ryan Specialty in a research note on Thursday, December 5th. They issued an “overweight” rating and a $90.00 price target for the company. Royal Bank of Canada lowered their price target on Ryan Specialty from $73.00 to $72.00 and set a “sector perform” rating for the company in a research note on Friday. Finally, Barclays upped their price target on Ryan Specialty from $76.00 to $88.00 and gave the company an “overweight” rating in a research note on Thursday, November 21st. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $74.55.

Insider Buying and Selling

In other Ryan Specialty news, Director Nicholas Dominic Cortezi sold 31,409 shares of the company’s stock in a transaction that occurred on Wednesday, January 29th. The stock was sold at an average price of $65.64, for a total transaction of $2,061,686.76. Following the completion of the transaction, the director now owns 2,697 shares of the company’s stock, valued at $177,031.08. This represents a 92.09 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In the last three months, insiders sold 316,451 shares of company stock valued at $20,907,793. 11.10% of the stock is owned by corporate insiders.

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.