Brokerages Set Ryan Specialty Holdings Inc. (NYSE:RYAN) PT at $53.42

Ryan Specialty Holdings Inc. (NYSE:RYAN) has earned a consensus rating of “Hold” from the nineteen analysts that are covering the firm, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and eight have issued a buy rating on the company. The average 1 year price objective among brokers that have issued a report on the stock in the last year is $53.4167.

RYAN has been the topic of several recent analyst reports. Zacks Research raised Ryan Specialty from a “strong sell” rating to a “hold” rating in a report on Tuesday, June 30th. Wolfe Research cut Ryan Specialty from an “outperform” rating to a “peer perform” rating in a report on Thursday, July 9th. Weiss Ratings upgraded Ryan Specialty from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Thursday, August 13th. Atlantic Securities set a $69.00 price objective on Ryan Specialty in a research note on Wednesday, July 15th. Finally, Royal Bank Of Canada increased their target price on Ryan Specialty from $45.00 to $55.00 and gave the stock an “outperform” rating in a report on Friday, July 31st.

Insiders Place Their Bets

In related news, EVP Mark Stephen Katz purchased 3,215 shares of the stock in a transaction that occurred on Wednesday, June 3rd. The stock was acquired at an average price of $31.07 per share, with a total value of $99,890.05. Following the completion of the acquisition, the executive vice president directly owned 4,332 shares in the company, valued at approximately $134,595.24. This trade represents a 287.82% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director John W. Rogers, Jr. acquired 7,500 shares of the company’s stock in a transaction that occurred on Wednesday, June 10th. The stock was bought at an average price of $35.16 per share, with a total value of $263,700.00. Following the transaction, the director directly owned 117,933 shares in the company, valued at $4,146,524.28. The trade was a 6.79% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders have purchased a total of 130,715 shares of company stock valued at $4,263,590 in the last 90 days. 52.03% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Ryan Specialty

Hedge funds and other institutional investors have recently made changes to their positions in the company. Vulcan Value Partners LLC lifted its position in Ryan Specialty by 631.7% during the 4th quarter. Vulcan Value Partners LLC now owns 4,621,079 shares of the company’s stock valued at $238,536,000 after purchasing an additional 3,989,502 shares during the period. T. Rowe Price Investment Management Inc. grew its position in shares of Ryan Specialty by 79.9% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 7,552,002 shares of the company’s stock worth $389,910,000 after buying an additional 3,353,926 shares during the period. Adage Capital Partners GP L.L.C. grew its position in shares of Ryan Specialty by 1,510.0% during the 4th quarter. Adage Capital Partners GP L.L.C. now owns 1,610,000 shares of the company’s stock worth $83,124,000 after buying an additional 1,510,000 shares during the period. Norges Bank bought a new stake in shares of Ryan Specialty during the fourth quarter worth approximately $60,546,000. Finally, Focus Partners Wealth bought a new stake in shares of Ryan Specialty during the fourth quarter worth approximately $43,506,000. 84.82% of the stock is owned by institutional investors and hedge funds.

Ryan Specialty Trading Down 1.0%

Shares of Ryan Specialty stock opened at $41.28 on Friday. Ryan Specialty has a 12-month low of $29.28 and a 12-month high of $60.34. The stock has a market capitalization of $10.56 billion, a P/E ratio of 57.34, a price-to-earnings-growth ratio of 0.83 and a beta of 0.59. The company has a 50-day simple moving average of $40.30 and a 200 day simple moving average of $37.74. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 3.51.

Ryan Specialty (NYSE:RYAN) last released its quarterly earnings results on Thursday, July 30th. The company reported $0.74 EPS for the quarter, beating analysts’ consensus estimates of $0.60 by $0.14. The firm had revenue of $916.65 million for the quarter, compared to analyst estimates of $873.93 million. Ryan Specialty had a net margin of 7.55% and a return on equity of 43.97%. The company’s revenue for the quarter was up 7.2% compared to the same quarter last year. During the same period in the previous year, the business earned $0.66 earnings per share. Research analysts expect that Ryan Specialty will post 2.17 earnings per share for the current fiscal year.

Ryan Specialty Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, August 25th. Investors of record on Tuesday, August 11th will be given a dividend of $0.13 per share. The ex-dividend date is Tuesday, August 11th. This represents a $0.52 annualized dividend and a yield of 1.3%. Ryan Specialty’s dividend payout ratio is 72.22%.

Ryan Specialty declared that its Board of Directors has initiated a stock buyback program on Tuesday, May 26th that authorizes the company to buyback $300.00 million in outstanding shares. This buyback authorization authorizes the company to reacquire up to 3.5% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s leadership believes its shares are undervalued.

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.