Ryan Specialty Holdings, Inc. to Issue Quarterly Dividend of $0.11 (NYSE:RYAN)

Ryan Specialty Holdings, Inc. (NYSE:RYAN) declared a quarterly dividend on Thursday, May 2nd, Zacks reports. Investors of record on Tuesday, May 14th will be given a dividend of 0.11 per share on Tuesday, May 28th. This represents a $0.44 dividend on an annualized basis and a yield of 0.85%. The ex-dividend date is Monday, May 13th.

Ryan Specialty has a dividend payout ratio of 20.8% meaning its dividend is sufficiently covered by earnings. Research analysts expect Ryan Specialty to earn $2.13 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 20.7%.

Ryan Specialty Stock Down 2.7 %

RYAN stock traded down $1.45 during trading on Friday, reaching $51.50. 2,143,221 shares of the stock were exchanged, compared to its average volume of 804,185. The firm’s 50 day moving average is $52.56 and its 200 day moving average is $47.07. Ryan Specialty has a twelve month low of $39.44 and a twelve month high of $56.51. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 1.98. The firm has a market cap of $13.40 billion, a P/E ratio of 97.18 and a beta of 0.58.

Ryan Specialty (NYSE:RYAN) last posted its quarterly earnings results on Thursday, May 2nd. The company reported $0.35 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.35. Ryan Specialty had a return on equity of 46.11% and a net margin of 9.15%. The business had revenue of $552.00 million for the quarter, compared to the consensus estimate of $549.06 million. During the same period in the prior year, the business earned $0.26 EPS. The firm’s revenue for the quarter was up 20.6% on a year-over-year basis. As a group, research analysts forecast that Ryan Specialty will post 1.77 EPS for the current year.

Analyst Upgrades and Downgrades

Several analysts have recently commented on RYAN shares. JPMorgan Chase & Co. increased their price objective on Ryan Specialty from $47.00 to $49.00 and gave the stock an “underweight” rating in a research note on Monday, April 8th. Wells Fargo & Company increased their price objective on Ryan Specialty from $57.00 to $58.00 and gave the stock an “overweight” rating in a research note on Thursday, April 11th. Keefe, Bruyette & Woods increased their price objective on Ryan Specialty from $56.00 to $62.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 10th. Citigroup increased their price objective on Ryan Specialty from $49.00 to $52.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 28th. Finally, JMP Securities reissued a “market perform” rating on shares of Ryan Specialty in a research note on Monday, April 15th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $54.25.

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.