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

Shares of Ryan Specialty Holdings Inc. (NYSE:RYAN) have earned a consensus rating of “Hold” from the nineteen ratings firms that are covering the company, MarketBeat reports. Two research analysts have rated the stock with a sell recommendation, eight have given a hold recommendation, eight have issued a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price objective among brokerages that have issued ratings on the stock in the last year is $47.4118.

A number of equities research analysts have recently weighed in on the stock. Barclays dropped their price target on shares of Ryan Specialty from $41.00 to $39.00 and set an “overweight” rating for the company in a research report on Friday, May 1st. Weiss Ratings reissued a “sell (d+)” rating on shares of Ryan Specialty in a research report on Monday, May 4th. Wells Fargo & Company lowered Ryan Specialty from an “overweight” rating to an “equal weight” rating and lowered their price objective for the stock from $42.00 to $31.00 in a research note on Friday, May 1st. The Goldman Sachs Group raised their price objective on Ryan Specialty from $35.00 to $40.00 and gave the stock a “neutral” rating in a research note on Wednesday. Finally, Cantor Fitzgerald dropped their price objective on Ryan Specialty from $45.00 to $40.00 and set a “neutral” rating for the company in a report on Thursday, April 9th.

Ryan Specialty Price Performance

NYSE:RYAN opened at $42.02 on Friday. Ryan Specialty has a 52 week low of $29.28 and a 52 week high of $67.69. The firm has a market cap of $11.08 billion, a price-to-earnings ratio of 54.57, a P/E/G ratio of 1.01 and a beta of 0.61. The firm’s 50-day simple moving average is $34.03 and its 200 day simple moving average is $39.84. The company has a debt-to-equity ratio of 2.90, a quick ratio of 1.02 and a current ratio of 1.02.

Ryan Specialty (NYSE:RYAN) last issued its quarterly earnings data on Thursday, April 30th. The company reported $0.47 earnings per share for the quarter, topping the consensus estimate of $0.43 by $0.04. The business had revenue of $795.23 million during the quarter, compared to analysts’ expectations of $781.44 million. Ryan Specialty had a net margin of 8.21% and a return on equity of 41.33%. The business’s revenue was up 15.2% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.39 EPS. As a group, sell-side analysts predict that Ryan Specialty will post 2.06 earnings per share for the current year.

Ryan Specialty declared that its Board of Directors has approved a share buyback program on Tuesday, May 26th that authorizes the company to repurchase $300.00 million in outstanding shares. This repurchase authorization authorizes the company to buy up to 3.5% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s board believes its shares are undervalued.

Ryan Specialty Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, May 26th. Investors of record on Tuesday, May 12th were given a $0.13 dividend. The ex-dividend date was Tuesday, May 12th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.2%. Ryan Specialty’s dividend payout ratio (DPR) is presently 67.53%.

Insider Activity at Ryan Specialty

In other news, Chairman Patrick G. Ryan acquired 120,000 shares of Ryan Specialty stock in a transaction on Friday, June 5th. The shares were purchased at an average cost of $32.50 per share, for a total transaction of $3,900,000.00. Following the completion of the purchase, the chairman directly owned 13,817,859 shares of the company’s stock, valued at approximately $449,080,417.50. This represents a 0.88% increase in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Mark Stephen Katz bought 3,215 shares of the firm’s stock in a transaction on Wednesday, June 3rd. The stock was purchased at an average cost of $31.07 per share, for a total transaction of $99,890.05. Following the completion of the acquisition, the executive vice president owned 4,332 shares in the company, valued at approximately $134,595.24. This trade represents a 287.82% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders purchased a total of 130,715 shares of company stock valued at $4,263,590 over the last quarter. 52.03% of the stock is owned by corporate insiders.

Institutional Trading of Ryan Specialty

A number of institutional investors and hedge funds have recently made changes to their positions in RYAN. Los Angeles Capital Management LLC acquired a new stake in shares of Ryan Specialty during the 4th quarter worth approximately $25,000. Advisory Services Network LLC acquired a new position in Ryan Specialty during the third quarter valued at approximately $28,000. SBI Securities Co. Ltd. raised its position in Ryan Specialty by 6,322.2% during the fourth quarter. SBI Securities Co. Ltd. now owns 578 shares of the company’s stock valued at $30,000 after purchasing an additional 569 shares in the last quarter. Parallel Advisors LLC lifted its stake in Ryan Specialty by 54.9% during the first quarter. Parallel Advisors LLC now owns 1,013 shares of the company’s stock worth $34,000 after purchasing an additional 359 shares during the last quarter. Finally, Caitong International Asset Management Co. Ltd lifted its stake in Ryan Specialty by 173.7% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 709 shares of the company’s stock worth $37,000 after purchasing an additional 450 shares during the last quarter. Institutional investors own 84.82% of the company’s stock.

About Ryan Specialty

Ryan Specialty Group, Inc (NYSE: RYAN) is a global specialty insurance and reinsurance platform that partners with a network of insurers and reinsurers to deliver tailored risk solutions. The company focuses on complex and large-scale risks across multiple industry sectors, leveraging its underwriting expertise to structure coverage programs that meet clients’ unique needs.

Ryan Specialty’s core offerings span a diverse range of specialty lines, including casualty, property, professional liability, marine and energy, program administration, and sports and entertainment.