Ryan Specialty Holdings, Inc. (NYSE:RYAN) Receives $74.40 Average PT from Analysts

Ryan Specialty Holdings, Inc. (NYSE:RYAN) has earned an average recommendation of “Hold” from the twelve ratings firms that are currently covering the company, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, five have issued a hold recommendation and six have given a buy recommendation to the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $74.40.

A number of research analysts recently issued reports on RYAN shares. The Goldman Sachs Group lifted their target price on Ryan Specialty from $64.00 to $72.00 and gave the stock a “neutral” rating in a report on Wednesday, October 9th. Wells Fargo & Company lowered their target price on Ryan Specialty from $68.00 to $64.00 and set an “equal weight” rating on the stock in a report on Tuesday, January 14th. Bank of America lifted their target price on Ryan Specialty from $75.00 to $84.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. Morgan Stanley started coverage on Ryan Specialty in a report on Thursday, December 5th. They set an “overweight” rating and a $90.00 target price on the stock. Finally, Barclays lifted their target price on Ryan Specialty from $76.00 to $88.00 and gave the stock an “overweight” rating in a report on Thursday, November 21st.

Ryan Specialty Price Performance

Shares of RYAN opened at $65.66 on Friday. The firm has a market capitalization of $17.19 billion, a price-to-earnings ratio of 85.27, a price-to-earnings-growth ratio of 1.16 and a beta of 0.72. The company has a debt-to-equity ratio of 2.40, a quick ratio of 1.01 and a current ratio of 1.01. Ryan Specialty has a one year low of $42.21 and a one year high of $75.97. The stock’s fifty day moving average is $67.63 and its 200-day moving average is $66.12.

Ryan Specialty (NYSE:RYAN) last issued its quarterly earnings results on Wednesday, October 30th. The company reported $0.41 EPS for the quarter, meeting analysts’ consensus estimates of $0.41. The company had revenue of $604.69 million for the quarter, compared to analyst estimates of $602.04 million. Ryan Specialty had a return on equity of 47.90% and a net margin of 10.31%. The company’s quarterly revenue was up 20.5% compared to the same quarter last year. During the same period last year, the company earned $0.32 earnings per share. Equities analysts anticipate that Ryan Specialty will post 1.82 EPS for the current year.

Ryan Specialty Announces Dividend

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

Insider Activity at Ryan Specialty

In other Ryan Specialty news, Director Nicholas Dominic Cortezi sold 29,466 shares of the stock in a transaction dated Monday, January 13th. The shares were sold at an average price of $65.06, for a total transaction of $1,917,057.96. Following the sale, the director now owns 45,409 shares of the company’s stock, valued at $2,954,309.54. This represents a 39.35 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Mark Stephen Katz sold 14,790 shares of the stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $71.39, for a total transaction of $1,055,858.10. Following the sale, the executive vice president now directly owns 12,386 shares in the company, valued at approximately $884,236.54. This represents a 54.42 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 261,402 shares of company stock worth $17,435,489 in the last ninety days. 11.10% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Ryan Specialty

Hedge funds have recently added to or reduced their stakes in the stock. Xponance Inc. grew its holdings in Ryan Specialty by 67.2% during the 2nd quarter. Xponance Inc. now owns 20,686 shares of the company’s stock worth $1,198,000 after acquiring an additional 8,312 shares during the last quarter. Jennison Associates LLC boosted its stake in shares of Ryan Specialty by 60.2% in the 3rd quarter. Jennison Associates LLC now owns 1,025,063 shares of the company’s stock valued at $68,054,000 after purchasing an additional 385,366 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in shares of Ryan Specialty by 107.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 459,464 shares of the company’s stock valued at $30,504,000 after purchasing an additional 238,064 shares during the last quarter. Geneva Partners LLC bought a new position in shares of Ryan Specialty in the 3rd quarter valued at about $2,537,000. Finally, Bar Harbor Wealth Management boosted its stake in shares of Ryan Specialty by 5.9% in the 4th quarter. Bar Harbor Wealth Management now owns 168,871 shares of the company’s stock valued at $10,835,000 after purchasing an additional 9,482 shares during the last quarter. 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.