Ryan Specialty Holdings Inc. (NYSE:RYAN) Receives $68.54 Average PT from Brokerages

Ryan Specialty Holdings Inc. (NYSE:RYAN) has been given a consensus rating of “Moderate Buy” by the fourteen analysts that are presently covering the firm, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, three have given a hold recommendation, nine have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year target price among brokerages that have covered the stock in the last year is $68.6923.

Several equities research analysts have issued reports on RYAN shares. Morgan Stanley lifted their price target on Ryan Specialty from $65.00 to $67.00 and gave the stock an “overweight” rating in a research note on Monday. Citigroup began coverage on Ryan Specialty in a research report on Wednesday, August 13th. They issued a “buy” rating and a $74.00 target price for the company. Barclays reaffirmed an “overweight” rating and issued a $70.00 target price on shares of Ryan Specialty in a research note on Wednesday, October 8th. Weiss Ratings reissued a “hold (c-)” rating on shares of Ryan Specialty in a research note on Wednesday, October 8th. Finally, The Goldman Sachs Group cut their price objective on shares of Ryan Specialty from $71.00 to $63.00 and set a “buy” rating for the company in a research note on Friday, October 31st.

Ryan Specialty Trading Up 0.7%

Shares of Ryan Specialty stock opened at $56.99 on Friday. The company has a debt-to-equity ratio of 2.72, a current ratio of 1.00 and a quick ratio of 1.00. Ryan Specialty has a 1 year low of $50.08 and a 1 year high of $77.16. The firm has a market cap of $15.03 billion, a PE ratio of 123.89, a PEG ratio of 1.58 and a beta of 0.62. The company has a 50 day simple moving average of $54.67 and a two-hundred day simple moving average of $60.94.

Ryan Specialty (NYSE:RYAN) last posted its quarterly earnings data on Thursday, October 30th. The company reported $0.47 earnings per share for the quarter, meeting the consensus estimate of $0.47. Ryan Specialty had a net margin of 7.61% and a return on equity of 47.93%. The firm had revenue of $754.58 million for the quarter, compared to analysts’ expectations of $742.35 million. During the same quarter last year, the company posted $0.41 EPS. The business’s quarterly revenue was up 24.8% on a year-over-year basis. Analysts expect that Ryan Specialty will post 2.29 earnings per share for the current fiscal year.

Ryan Specialty Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, November 25th. Shareholders of record on Tuesday, November 11th will be given a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 0.8%. The ex-dividend date is Monday, November 10th. Ryan Specialty’s dividend payout ratio is presently 104.35%.

Insider Activity

In related news, Chairman Patrick G. Ryan acquired 276,634 shares of the firm’s stock in a transaction dated Friday, September 12th. The shares were purchased at an average price of $51.84 per share, for a total transaction of $14,340,706.56. Following the completion of the acquisition, the chairman owned 13,699,959 shares in the company, valued at approximately $710,205,874.56. This represents a 2.06% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at this link. Company insiders own 52.21% of the company’s stock.

Hedge Funds Weigh In On Ryan Specialty

A number of large investors have recently bought and sold shares of the stock. Montrusco Bolton Investments Inc. purchased a new position in shares of Ryan Specialty in the second quarter worth $213,852,000. Independent Franchise Partners LLP bought a new stake in Ryan Specialty in the 3rd quarter worth $95,798,000. Champlain Investment Partners LLC increased its position in shares of Ryan Specialty by 76.9% in the third quarter. Champlain Investment Partners LLC now owns 3,066,011 shares of the company’s stock valued at $172,800,000 after acquiring an additional 1,332,773 shares during the period. Norges Bank bought a new position in shares of Ryan Specialty during the second quarter valued at about $88,305,000. Finally, Artisan Partners Limited Partnership bought a new position in shares of Ryan Specialty during the second quarter valued at about $64,961,000. 84.82% of the stock is owned by hedge funds and other institutional investors.

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.