Ryan Specialty Holdings, Inc. (NYSE:RYAN) Receives $67.67 Average Price Target from Analysts

Shares of Ryan Specialty Holdings, Inc. (NYSE:RYAN) have been assigned a consensus rating of “Hold” from the eleven analysts that are covering the stock, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, five have given a hold recommendation and five have assigned a buy recommendation to the company. The average 1-year price target among analysts that have issued a report on the stock in the last year is $70.33.

Several equities research analysts recently weighed in on RYAN shares. Citigroup boosted their price target on shares of Ryan Specialty from $56.00 to $62.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 23rd. The Goldman Sachs Group boosted their price target on shares of Ryan Specialty from $64.00 to $72.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 9th. JPMorgan Chase & Co. boosted their price target on shares of Ryan Specialty from $54.00 to $56.00 and gave the stock an “underweight” rating in a research report on Friday, August 2nd. UBS Group boosted their price objective on shares of Ryan Specialty from $67.00 to $76.00 and gave the company a “buy” rating in a research report on Tuesday, August 13th. Finally, Keefe, Bruyette & Woods reiterated an “outperform” rating and set a $62.00 price objective on shares of Ryan Specialty in a research report on Tuesday, July 2nd.

Ryan Specialty Trading Down 0.9 %

Ryan Specialty stock opened at $70.64 on Thursday. The stock has a market cap of $18.40 billion, a P/E ratio of 133.27, a PEG ratio of 1.66 and a beta of 0.62. The company has a debt-to-equity ratio of 1.81, a current ratio of 1.09 and a quick ratio of 1.09. Ryan Specialty has a 1 year low of $41.49 and a 1 year high of $73.10. The firm’s 50 day moving average price is $66.07 and its 200-day moving average price is $59.02.

Ryan Specialty (NYSE:RYAN) last announced its quarterly earnings results on Thursday, August 1st. The company reported $0.58 earnings per share for the quarter, topping the consensus estimate of $0.56 by $0.02. Ryan Specialty had a net margin of 10.21% and a return on equity of 48.08%. The company had revenue of $695.40 million for the quarter, compared to analysts’ expectations of $695.56 million. During the same quarter in the previous year, the business posted $0.45 earnings per share. Ryan Specialty’s quarterly revenue was up 18.9% on a year-over-year basis. On average, equities analysts predict that Ryan Specialty will post 1.81 earnings per share for the current fiscal year.

Ryan Specialty Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, August 27th. Investors of record on Tuesday, August 13th were paid a $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a yield of 0.62%. The ex-dividend date of this dividend was Tuesday, August 13th. Ryan Specialty’s dividend payout ratio (DPR) is presently 83.02%.

Insider Buying and Selling

In related news, President Timothy William Turner sold 2,000,000 shares of the company’s 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 sale, the president now directly owns 8,095 shares of the company’s stock, valued at $505,532.75. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Ryan Specialty news, EVP Jeremiah Rawlins Bickham sold 26,233 shares of the business’s stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $65.18, for a total value of $1,709,866.94. Following the completion of the transaction, the executive vice president now directly owns 24,845 shares in the company, valued at approximately $1,619,397.10. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, President Timothy William Turner sold 2,000,000 shares of the business’s 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 of the company’s stock, valued at $505,532.75. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 2,107,136 shares of company stock valued at $131,860,032 over the last three months. 11.10% of the stock is owned by company insiders.

Hedge Funds Weigh In On Ryan Specialty

A number of large investors have recently added to or reduced their stakes in the company. Virtu Financial LLC acquired a new position in shares of Ryan Specialty during the fourth quarter valued at about $283,000. Vanguard Group Inc. raised its position in shares of Ryan Specialty by 2.2% in the 4th quarter. Vanguard Group Inc. now owns 9,397,569 shares of the company’s stock valued at $404,283,000 after purchasing an additional 198,945 shares during the last quarter. Kapitalo Investimentos Ltda purchased a new position in shares of Ryan Specialty in the 4th quarter valued at approximately $106,000. Renaissance Capital LLC raised its position in shares of Ryan Specialty by 4.6% in the 1st quarter. Renaissance Capital LLC now owns 63,364 shares of the company’s stock valued at $3,517,000 after purchasing an additional 2,800 shares during the last quarter. Finally, Cooper Financial Group purchased a new position in shares of Ryan Specialty in the 1st quarter valued at approximately $261,000. 84.82% of the stock is currently owned by 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.