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

Shares of Ryan Specialty Holdings Inc. (NYSE:RYAN) have been assigned an average rating of “Hold” from the nineteen research firms that are covering the company, Marketbeat.com reports. Three equities research analysts have rated the stock with a sell recommendation, seven have issued a hold recommendation, eight have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month target price among analysts that have issued a report on the stock in the last year is $46.3529.

RYAN has been the topic of a number of analyst reports. Citigroup reduced their price target on Ryan Specialty from $55.00 to $50.00 and set a “buy” rating on the stock in a research report on Monday, May 4th. Mizuho set a $35.00 target price on Ryan Specialty in a report on Friday, May 1st. BMO Capital Markets downgraded Ryan Specialty from an “outperform” rating to a “market perform” rating and reduced their target price for the company from $66.00 to $43.00 in a report on Wednesday, February 25th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Ryan Specialty in a report on Monday, May 4th. Finally, Royal Bank Of Canada began coverage on Ryan Specialty in a report on Tuesday, March 17th. They issued an “outperform” rating and a $45.00 target price on the stock.

Ryan Specialty Trading Down 2.8%

Shares of NYSE:RYAN opened at $31.66 on Tuesday. The company has a market capitalization of $8.35 billion, a P/E ratio of 41.11, a P/E/G ratio of 0.78 and a beta of 0.64. Ryan Specialty has a 1 year low of $29.28 and a 1 year high of $69.49. The company has a debt-to-equity ratio of 2.90, a current ratio of 1.02 and a quick ratio of 1.02. The business’s 50 day simple moving average is $33.49 and its 200 day simple moving average is $42.35.

Ryan Specialty (NYSE:RYAN) last issued its quarterly earnings results on Thursday, April 30th. The company reported $0.47 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.43 by $0.04. The business had revenue of $795.23 million for the quarter, compared to the consensus estimate of $781.44 million. Ryan Specialty had a return on equity of 41.33% and a net margin of 8.21%.The firm’s quarterly revenue was up 15.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.39 earnings per share. On average, research analysts anticipate that Ryan Specialty will post 2.05 EPS for the current fiscal year.

Ryan Specialty Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, May 26th. Shareholders of record on Tuesday, May 12th were issued a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date of this dividend was Tuesday, May 12th. Ryan Specialty’s dividend payout ratio (DPR) is currently 67.53%.

Ryan Specialty announced that its Board of Directors has authorized a share buyback plan on Tuesday, May 26th that allows the company to repurchase $300.00 million in outstanding shares. This repurchase authorization allows the company to buy up to 3.5% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s board believes its stock is undervalued.

Insiders Place Their Bets

In other Ryan Specialty news, EVP Mark Stephen Katz bought 3,215 shares of Ryan Specialty stock in a transaction on Wednesday, June 3rd. The shares were purchased at an average price of $31.07 per share, with a total value of $99,890.05. Following the acquisition, the executive vice president owned 4,332 shares in the company, valued at $134,595.24. This trade represents a 287.82% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman Patrick G. Ryan bought 120,000 shares of Ryan Specialty stock in a transaction on Friday, June 5th. The stock was acquired at an average cost of $32.50 per share, for a total transaction of $3,900,000.00. Following the acquisition, the chairman owned 13,817,859 shares in the company, valued at approximately $449,080,417.50. This represents a 0.88% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Company insiders own 52.03% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Parallel Advisors LLC lifted its stake in shares of Ryan Specialty by 54.9% in the 1st quarter. Parallel Advisors LLC now owns 1,013 shares of the company’s stock valued at $34,000 after acquiring an additional 359 shares during the last quarter. Bank of America Corp DE lifted its stake in shares of Ryan Specialty by 34.8% in the 1st quarter. Bank of America Corp DE now owns 1,508,083 shares of the company’s stock valued at $50,883,000 after acquiring an additional 389,505 shares during the last quarter. California State Teachers Retirement System lifted its stake in shares of Ryan Specialty by 27.2% in the 1st quarter. California State Teachers Retirement System now owns 131,356 shares of the company’s stock valued at $4,432,000 after acquiring an additional 28,095 shares during the last quarter. Royal Bank of Canada raised its position in Ryan Specialty by 42.6% during the 1st quarter. Royal Bank of Canada now owns 87,248 shares of the company’s stock worth $2,944,000 after purchasing an additional 26,047 shares during the last quarter. Finally, Quantinno Capital Management LP raised its position in Ryan Specialty by 290.0% during the 1st quarter. Quantinno Capital Management LP now owns 247,767 shares of the company’s stock worth $8,360,000 after purchasing an additional 184,238 shares during the last quarter. 84.82% of the stock is currently owned by 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.