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

Shares of Ryan Specialty Holdings, Inc. (NYSE:RYAN) have been given an average rating of “Hold” by the thirteen brokerages that are currently covering the company, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, six have assigned a hold recommendation and six have assigned a buy recommendation to the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $75.27.

RYAN has been the topic of a number of research analyst reports. Barclays raised their price target on Ryan Specialty from $76.00 to $88.00 and gave the stock an “overweight” rating in a research note on Thursday, November 21st. Morgan Stanley initiated coverage on Ryan Specialty in a research note on Thursday, December 5th. They issued an “overweight” rating and a $90.00 price target on the stock. Keefe, Bruyette & Woods decreased their price target on Ryan Specialty from $77.00 to $76.00 and set an “outperform” rating on the stock in a research note on Friday, February 21st. Wells Fargo & Company lifted their price objective on Ryan Specialty from $64.00 to $69.00 and gave the company an “equal weight” rating in a research note on Friday, February 21st. Finally, UBS Group lifted their price objective on Ryan Specialty from $82.00 to $84.00 and gave the company a “buy” rating in a research note on Wednesday, February 26th.

Ryan Specialty Trading Up 2.3 %

Ryan Specialty stock opened at $69.86 on Friday. The stock has a market cap of $18.30 billion, a PE ratio of 101.25, a P/E/G ratio of 1.19 and a beta of 0.71. The stock has a 50-day moving average price of $67.11 and a 200 day moving average price of $67.74. Ryan Specialty has a 52 week low of $48.48 and a 52 week high of $75.97. 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 (NYSE:RYAN) last posted its quarterly earnings data on Thursday, February 20th. The company reported $0.45 EPS for the quarter, missing analysts’ consensus estimates of $0.47 by ($0.02). The company had revenue of $663.53 million for the quarter, compared to analysts’ expectations of $658.80 million. Ryan Specialty had a return on equity of 48.01% and a net margin of 9.14%. Equities research analysts predict that Ryan Specialty will post 2.29 earnings per share for the current fiscal year.

Ryan Specialty Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 18th. Shareholders of record on Tuesday, March 4th will be given a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 0.69%. The ex-dividend date is Tuesday, March 4th. This is a positive change from Ryan Specialty’s previous quarterly dividend of $0.11. Ryan Specialty’s payout ratio is 69.57%.

Insiders Place Their Bets

In other news, Director Nicholas Dominic Cortezi sold 35,000 shares of the business’s stock in a transaction on Monday, December 16th. The stock was sold at an average price of $66.71, for a total value of $2,334,850.00. Following the sale, the director now owns 60,200 shares of the company’s stock, valued at approximately $4,015,942. The trade was a 36.76 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In the last quarter, insiders sold 281,451 shares of company stock worth $18,549,143. 11.10% of the stock is owned by company insiders.

Institutional Trading of Ryan Specialty

A number of hedge funds and other institutional investors have recently modified their holdings of RYAN. Raymond James Financial Inc. bought a new stake in shares of Ryan Specialty in the 4th quarter worth $94,484,000. Norges Bank bought a new stake in shares of Ryan Specialty in the 4th quarter worth $78,358,000. Millennium Management LLC raised its position in shares of Ryan Specialty by 1,111.4% during the fourth quarter. Millennium Management LLC now owns 1,174,086 shares of the company’s stock worth $75,329,000 after purchasing an additional 1,077,169 shares during the period. Principal Financial Group Inc. raised its position in shares of Ryan Specialty by 115.2% during the fourth quarter. Principal Financial Group Inc. now owns 1,833,209 shares of the company’s stock worth $117,619,000 after purchasing an additional 981,505 shares during the period. Finally, CIBC Private Wealth Group LLC raised its position in shares of Ryan Specialty by 6,911.0% during the fourth quarter. CIBC Private Wealth Group LLC now owns 785,928 shares of the company’s stock worth $48,036,000 after purchasing an additional 774,718 shares during the period. Institutional investors own 84.82% of the company’s stock.

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.