Ryan Specialty (NYSE:RYAN) Trading Down 3.3% – What’s Next?

Shares of Ryan Specialty Holdings, Inc. (NYSE:RYAN) dropped 3.3% during trading on Monday . The stock traded as low as $69.42 and last traded at $70.12. Approximately 85,744 shares traded hands during mid-day trading, a decline of 90% from the average daily volume of 861,964 shares. The stock had previously closed at $72.53.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the company. UBS Group boosted their price target on Ryan Specialty from $67.00 to $76.00 and gave the company a “buy” rating in a report on Tuesday, August 13th. Morgan Stanley started coverage on Ryan Specialty in a research note on Thursday, December 5th. They issued an “overweight” rating and a $90.00 target price for the company. BMO Capital Markets raised Ryan Specialty from a “market perform” rating to an “outperform” rating and raised their price target for the stock from $65.00 to $75.00 in a research note on Tuesday, September 24th. The Goldman Sachs Group lifted their price target on Ryan Specialty from $64.00 to $72.00 and gave the company a “neutral” rating in a report on Wednesday, October 9th. Finally, Wells Fargo & Company raised their target price on shares of Ryan Specialty from $63.00 to $70.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 10th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $73.50.

Ryan Specialty Price Performance

The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 2.40. The company’s fifty day moving average is $71.03 and its 200 day moving average is $64.28. The stock has a market cap of $17.76 billion, a PE ratio of 88.06, a price-to-earnings-growth ratio of 1.63 and a beta of 0.67.

Ryan Specialty (NYSE:RYAN) last posted its earnings results on Wednesday, October 30th. The company reported $0.41 earnings per share for the quarter, meeting the consensus estimate of $0.41. Ryan Specialty had a net margin of 10.31% and a return on equity of 47.90%. The business had revenue of $604.69 million for the quarter, compared to analyst estimates of $602.04 million. During the same quarter in the previous year, the business posted $0.32 EPS. The business’s quarterly revenue was up 20.5% on a year-over-year basis. As a group, sell-side analysts anticipate that Ryan Specialty Holdings, Inc. will post 1.82 earnings per share for the current fiscal year.

Ryan Specialty Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, November 26th. Stockholders of record on Tuesday, November 12th were given a $0.11 dividend. This represents a $0.44 annualized dividend and a dividend yield of 0.65%. The ex-dividend date was Tuesday, November 12th. Ryan Specialty’s payout ratio is 57.14%.

Insider Activity at Ryan Specialty

In other Ryan Specialty news, EVP Mark Stephen Katz sold 14,790 shares of the company’s stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $71.39, for a total value of $1,055,858.10. Following the completion of the transaction, the executive vice president now directly owns 12,386 shares of the company’s stock, valued at $884,236.54. This represents a 54.42 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director David P. Bolger sold 7,055 shares of Ryan Specialty stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $70.88, for a total value of $500,058.40. Following the sale, the director now directly owns 78,149 shares in the company, valued at approximately $5,539,201.12. The trade was a 8.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 11.10% of the company’s stock.

Institutional Trading of Ryan Specialty

A number of hedge funds have recently made changes to their positions in RYAN. Principal Financial Group Inc. raised its holdings in Ryan Specialty by 148.9% in the third quarter. Principal Financial Group Inc. now owns 851,704 shares of the company’s stock valued at $56,545,000 after acquiring an additional 509,548 shares in the last quarter. Bank of New York Mellon Corp lifted its position in shares of Ryan Specialty by 132.2% during the second quarter. Bank of New York Mellon Corp now owns 836,209 shares of the company’s stock worth $48,425,000 after purchasing an additional 476,126 shares during the last quarter. Jennison Associates LLC lifted its position in shares of Ryan Specialty by 60.2% during the third quarter. Jennison Associates LLC now owns 1,025,063 shares of the company’s stock worth $68,054,000 after purchasing an additional 385,366 shares during the last quarter. Eagle Asset Management Inc. increased its holdings in Ryan Specialty by 32.1% in the third quarter. Eagle Asset Management Inc. now owns 1,380,510 shares of the company’s stock valued at $98,555,000 after buying an additional 335,180 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in Ryan Specialty by 43.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 938,187 shares of the company’s stock valued at $62,286,000 after buying an additional 286,380 shares during the last quarter. Institutional investors and hedge funds 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.