Ryan Specialty Holdings, Inc. Plans Quarterly Dividend of $0.11 (NYSE:RYAN)

Ryan Specialty Holdings, Inc. (NYSE:RYAN) announced a quarterly dividend on Wednesday, October 30th, Zacks reports. Investors of record on Tuesday, November 12th will be given a dividend of 0.11 per share on Tuesday, November 26th. This represents a $0.44 dividend on an annualized basis and a yield of 0.67%. The ex-dividend date is Tuesday, November 12th.

Ryan Specialty has a payout ratio of 19.8% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Ryan Specialty to earn $2.22 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 19.8%.

Ryan Specialty Trading Down 4.4 %

RYAN opened at $65.91 on Friday. The company has a debt-to-equity ratio of 1.81, a quick ratio of 1.09 and a current ratio of 1.09. The stock’s 50 day moving average price is $66.99 and its 200-day moving average price is $60.29. Ryan Specialty has a one year low of $41.49 and a one year high of $73.10. The stock has a market cap of $17.23 billion, a price-to-earnings ratio of 85.59, a P/E/G ratio of 1.56 and a beta of 0.62.

Ryan Specialty (NYSE:RYAN) last announced its quarterly earnings data on Wednesday, October 30th. The company reported $0.41 EPS for the quarter, meeting the consensus estimate of $0.41. The company had revenue of $604.69 million for the quarter, compared to the consensus estimate of $602.04 million. Ryan Specialty had a return on equity of 48.99% and a net margin of 10.31%. Ryan Specialty’s quarterly revenue was up 20.5% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.32 EPS. On average, equities analysts forecast that Ryan Specialty will post 1.81 EPS for the current year.

Analyst Ratings Changes

Several research analysts have recently commented on RYAN shares. The Goldman Sachs Group boosted their price target on Ryan Specialty from $64.00 to $72.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 9th. UBS Group raised 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. Citigroup raised their price objective on Ryan Specialty from $56.00 to $62.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 23rd. Bank of America raised their price objective on Ryan Specialty from $75.00 to $84.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th. Finally, Wells Fargo & Company raised their price objective on Ryan Specialty from $63.00 to $70.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 10th. One analyst has rated the stock with a sell rating, five have given a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $70.33.

Insider Buying and Selling at Ryan Specialty

In other Ryan Specialty news, President Timothy William Turner sold 2,000,000 shares of Ryan Specialty stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $62.45, for a total transaction of $124,900,000.00. Following the completion of the transaction, the president now owns 8,095 shares in the company, valued at approximately $505,532.75. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In related news, Director Nicholas Dominic Cortezi sold 35,000 shares of Ryan Specialty stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $64.69, for a total value of $2,264,150.00. Following the completion of the transaction, the director now owns 19,251 shares in the company, valued at $1,245,347.19. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, President Timothy William Turner sold 2,000,000 shares of Ryan Specialty stock in a transaction dated 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 completion of the transaction, 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 position. The disclosure for this sale can be found here. In the last quarter, insiders sold 2,107,136 shares of company stock worth $131,860,032. Insiders own 11.10% 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.