Ryan Specialty Holdings, Inc. (NYSE:RYAN) Increases Dividend to $0.12 Per Share

Ryan Specialty Holdings, Inc. (NYSE:RYAN) declared a quarterly dividend on Friday, February 21st, Wall Street Journal reports. Investors of record on Tuesday, March 4th will be given a dividend of 0.12 per share on Tuesday, March 18th. This represents a $0.48 annualized dividend and a yield of 0.73%. The ex-dividend date is Tuesday, March 4th. This is a boost from Ryan Specialty’s previous quarterly dividend of $0.11.

Ryan Specialty has a dividend payout ratio of 16.4% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Ryan Specialty to earn $2.29 per share next year, which means the company should continue to be able to cover its $0.44 annual dividend with an expected future payout ratio of 19.2%.

Ryan Specialty Stock Down 4.4 %

Shares of RYAN traded down $3.05 during trading on Friday, reaching $65.55. The company’s stock had a trading volume of 1,860,171 shares, compared to its average volume of 972,088. The company has a fifty day moving average of $65.61 and a two-hundred day moving average of $67.26. Ryan Specialty has a twelve month low of $45.72 and a twelve month high of $75.97. The company has a market cap of $17.16 billion, a price-to-earnings ratio of 85.24, a P/E/G ratio of 1.21 and a beta of 0.72. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 2.40.

Ryan Specialty (NYSE:RYAN) last announced its earnings results on Thursday, February 20th. The company reported $0.45 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.47 by ($0.02). Ryan Specialty had a net margin of 10.31% and a return on equity of 47.90%. The business had revenue of $663.53 million during the quarter, compared to analyst estimates of $658.80 million. On average, sell-side analysts predict that Ryan Specialty will post 1.82 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Nicholas Dominic Cortezi sold 35,000 shares of the company’s stock in a transaction on Monday, December 16th. The stock was sold at an average price of $66.71, for a total transaction of $2,334,850.00. Following the completion of the transaction, the director now directly owns 60,200 shares in the company, valued at $4,015,942. This represents a 36.76 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders sold a total of 316,451 shares of company stock worth $20,907,793 in the last three months. 11.10% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

RYAN has been the topic of a number of recent analyst reports. Royal Bank of Canada cut their target price on Ryan Specialty from $73.00 to $72.00 and set a “sector perform” rating on the stock in a research report on Friday. Wells Fargo & Company boosted their price target on Ryan Specialty from $64.00 to $69.00 and gave the company an “equal weight” rating in a report on Friday. Barclays boosted their price target on Ryan Specialty from $76.00 to $88.00 and gave the company an “overweight” rating in a report on Thursday, November 21st. Keefe, Bruyette & Woods lowered their price target on Ryan Specialty from $77.00 to $76.00 and set an “outperform” rating for the company in a report on Friday. Finally, Morgan Stanley started coverage on Ryan Specialty in a report on Thursday, December 5th. They issued an “overweight” rating and a $90.00 price target for the company. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $74.55.

Ryan Specialty Company Profile

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.