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

Ryan Specialty Holdings Inc. (NYSE:RYAN) has earned a consensus recommendation of “Hold” from the nineteen analysts that are presently covering the stock, Marketbeat.com reports. Three equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $47.4118.

RYAN has been the topic of several analyst reports. Mizuho set a $35.00 target price on Ryan Specialty in a research report on Friday, May 1st. Wells Fargo & Company downgraded Ryan Specialty from an “overweight” rating to an “equal weight” rating and decreased their price objective for the stock from $42.00 to $31.00 in a research note on Friday, May 1st. Piper Sandler lowered their price objective on Ryan Specialty from $43.00 to $35.00 and set a “neutral” rating on the stock in a research report on Friday, May 1st. JPMorgan Chase & Co. cut their price objective on Ryan Specialty from $49.00 to $43.00 and set an “underweight” rating for the company in a research note on Thursday, April 9th. Finally, Keefe, Bruyette & Woods reissued an “outperform” rating on shares of Ryan Specialty in a report on Tuesday, May 26th.

Ryan Specialty Stock Performance

RYAN opened at $40.02 on Friday. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 2.90. The company has a market cap of $10.55 billion, a price-to-earnings ratio of 51.98, a PEG ratio of 0.91 and a beta of 0.61. The company’s 50 day moving average is $33.84 and its 200 day moving average is $39.91. Ryan Specialty has a 12-month low of $29.28 and a 12-month high of $67.69.

Ryan Specialty (NYSE:RYAN) last announced its earnings results on Thursday, April 30th. The company reported $0.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.43 by $0.04. Ryan Specialty had a net margin of 8.21% and a return on equity of 41.33%. The company had revenue of $795.23 million during the quarter, compared to analyst estimates of $781.44 million. During the same period in the previous year, the business posted $0.39 earnings per share. The firm’s quarterly revenue was up 15.2% compared to the same quarter last year. On average, equities research analysts predict that Ryan Specialty will post 2.06 EPS for the current year.

Ryan Specialty announced that its Board of Directors has initiated a share buyback program on Tuesday, May 26th that allows the company to repurchase $300.00 million in shares. This repurchase authorization allows the company to buy up to 3.5% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board believes its stock is undervalued.

Ryan Specialty Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, May 26th. Investors of record on Tuesday, May 12th were paid a dividend of $0.13 per share. The ex-dividend date was Tuesday, May 12th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.3%. Ryan Specialty’s payout ratio is 67.53%.

Insider Buying and Selling at Ryan Specialty

In other Ryan Specialty news, Chairman Patrick G. Ryan acquired 120,000 shares of the stock in a transaction dated Friday, June 5th. The shares were acquired at an average cost of $32.50 per share, for a total transaction of $3,900,000.00. Following the completion of the transaction, the chairman directly owned 13,817,859 shares of the company’s stock, valued at approximately $449,080,417.50. The trade was a 0.88% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Mark Stephen Katz acquired 3,215 shares of the company’s stock in a transaction dated Wednesday, June 3rd. The stock was acquired at an average cost of $31.07 per share, with a total value of $99,890.05. Following the purchase, the executive vice president owned 4,332 shares of the company’s stock, valued at approximately $134,595.24. This trade represents a 287.82% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have acquired a total of 130,715 shares of company stock valued at $4,263,590 over the last ninety days. 52.03% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Confluence Investment Management LLC bought a new position in Ryan Specialty in the 2nd quarter worth approximately $7,137,000. Parallel Advisors LLC raised its position in shares of Ryan Specialty by 54.9% during the first quarter. Parallel Advisors LLC now owns 1,013 shares of the company’s stock valued at $34,000 after buying an additional 359 shares during the last quarter. Bank of America Corp DE lifted its holdings in shares of Ryan Specialty by 34.8% in the first quarter. Bank of America Corp DE now owns 1,508,083 shares of the company’s stock worth $50,883,000 after buying an additional 389,505 shares in the last quarter. California State Teachers Retirement System lifted its holdings in shares of Ryan Specialty by 27.2% in the first quarter. California State Teachers Retirement System now owns 131,356 shares of the company’s stock worth $4,432,000 after buying an additional 28,095 shares in the last quarter. Finally, Royal Bank of Canada lifted its holdings in shares of Ryan Specialty by 42.6% in the first quarter. Royal Bank of Canada now owns 87,248 shares of the company’s stock worth $2,944,000 after buying an additional 26,047 shares in the last quarter. 84.82% of the stock is owned by hedge funds and other institutional investors.

Ryan Specialty Company Profile

Ryan Specialty Group, Inc (NYSE: RYAN) is a global specialty insurance and reinsurance platform that partners with a network of insurers and reinsurers to deliver tailored risk solutions. The company focuses on complex and large-scale risks across multiple industry sectors, leveraging its underwriting expertise to structure coverage programs that meet clients’ unique needs.

Ryan Specialty’s core offerings span a diverse range of specialty lines, including casualty, property, professional liability, marine and energy, program administration, and sports and entertainment.