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

Shares of Ryan Specialty Holdings, Inc. (NYSE:RYAN) have been given a consensus recommendation of “Hold” by the thirteen brokerages that are covering the stock, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, six have issued a hold recommendation and six have issued a buy recommendation on the company. The average 1 year target price among brokerages that have covered the stock in the last year is $75.27.

RYAN has been the subject of a number of research analyst reports. UBS Group increased their target price on shares of Ryan Specialty from $82.00 to $84.00 and gave the stock a “buy” rating in a research report on Wednesday, February 26th. Royal Bank of Canada lowered their price target on Ryan Specialty from $73.00 to $72.00 and set a “sector perform” rating for the company in a report on Friday, February 21st. Wells Fargo & Company boosted their price objective on Ryan Specialty from $64.00 to $69.00 and gave the stock an “equal weight” rating in a research note on Friday, February 21st. Keefe, Bruyette & Woods lowered their target price on Ryan Specialty from $77.00 to $76.00 and set an “outperform” rating for the company in a research note on Friday, February 21st. Finally, Morgan Stanley initiated coverage on Ryan Specialty in a research report on Thursday, December 5th. They set an “overweight” rating and a $90.00 price target on the stock.

Insider Transactions at Ryan Specialty

In other news, Director Nicholas Dominic Cortezi sold 31,409 shares of Ryan Specialty stock in a transaction that occurred on Wednesday, January 29th. The stock was sold at an average price of $65.64, for a total value of $2,061,686.76. Following the completion of the transaction, the director now owns 2,697 shares in the company, valued at approximately $177,031.08. This trade represents a 92.09 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In the last 90 days, insiders sold 316,451 shares of company stock valued at $20,907,793. Insiders own 11.10% of the company’s stock.

Hedge Funds Weigh In On Ryan Specialty

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

Ryan Specialty Stock Up 0.1 %

Shares of NYSE:RYAN opened at $69.31 on Friday. The firm has a market cap of $18.15 billion, a price-to-earnings ratio of 100.45, a PEG ratio of 1.19 and a beta of 0.71. Ryan Specialty has a 12-month low of $48.48 and a 12-month 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. The stock’s 50-day moving average price is $66.57 and its two-hundred day moving average price is $67.59.

Ryan Specialty (NYSE:RYAN) last announced its quarterly earnings results on Thursday, February 20th. The company reported $0.45 earnings per share for the quarter, missing analysts’ consensus estimates of $0.47 by ($0.02). Ryan Specialty had a net margin of 9.14% and a return on equity of 48.01%. The company had revenue of $663.53 million during the quarter, compared to analyst estimates of $658.80 million. On average, research analysts forecast that Ryan Specialty will post 2.29 EPS for the current year.

Ryan Specialty Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 18th. Investors of record on Tuesday, March 4th will be issued a $0.12 dividend. The ex-dividend date is Tuesday, March 4th. This is a boost from Ryan Specialty’s previous quarterly dividend of $0.11. This represents a $0.48 annualized dividend and a yield of 0.69%. Ryan Specialty’s dividend payout ratio is currently 69.57%.

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.