Brokerages Set Ryan Specialty Holdings, Inc. (NYSE:RYAN) Target Price at $63.40

Ryan Specialty Holdings, Inc. (NYSE:RYAN) has earned an average rating of “Hold” from the eleven research firms that are currently covering the firm, MarketBeat reports. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and four have assigned a buy rating to the company. The average twelve-month price target among analysts that have issued a report on the stock in the last year is $63.40.

RYAN has been the topic of a number of recent research reports. Wells Fargo & Company raised their price objective on Ryan Specialty from $60.00 to $63.00 and gave the company an “equal weight” rating in a research note on Friday, August 2nd. The Goldman Sachs Group upped their price objective on Ryan Specialty from $58.00 to $64.00 and gave the company a “neutral” rating in a research report on Monday, August 5th. JPMorgan Chase & Co. increased their target price on Ryan Specialty from $54.00 to $56.00 and gave the stock an “underweight” rating in a research note on Friday, August 2nd. Bank of America assumed coverage on shares of Ryan Specialty in a research note on Wednesday, May 22nd. They set a “buy” rating and a $67.00 target price for the company. Finally, Barclays initiated coverage on shares of Ryan Specialty in a research note on Wednesday, September 4th. They issued an “overweight” rating and a $76.00 price target on the stock.

Ryan Specialty Trading Down 1.4 %

Shares of RYAN stock opened at $63.57 on Friday. Ryan Specialty has a 1 year low of $41.49 and a 1 year high of $69.03. The firm has a fifty day moving average price of $62.66 and a 200-day moving average price of $57.07. The company has a market cap of $16.62 billion, a price-to-earnings ratio of 119.95, a PEG ratio of 1.51 and a beta of 0.62. The company has a debt-to-equity ratio of 1.81, a current ratio of 1.09 and a quick ratio of 1.09.

Ryan Specialty (NYSE:RYAN) last released its quarterly earnings data on Thursday, August 1st. The company reported $0.58 earnings per share for the quarter, topping analysts’ consensus estimates of $0.56 by $0.02. Ryan Specialty had a return on equity of 48.08% and a net margin of 10.21%. The firm had revenue of $695.40 million during the quarter, compared to analyst estimates of $695.56 million. During the same quarter in the prior year, the company posted $0.45 earnings per share. The business’s quarterly revenue was up 18.9% compared to the same quarter last year. As a group, equities analysts predict that Ryan Specialty will post 1.81 earnings per share for the current year.

Ryan Specialty Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, August 27th. Stockholders of record on Tuesday, August 13th were issued a $0.11 dividend. This represents a $0.44 annualized dividend and a dividend yield of 0.69%. The ex-dividend date was Tuesday, August 13th. Ryan Specialty’s dividend payout ratio (DPR) is currently 83.02%.

Insider Transactions at Ryan Specialty

In other news, President Timothy William Turner sold 2,000,000 shares of the firm’s stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $62.45, for a total transaction of $124,900,000.00. Following the sale, the president now directly owns 8,095 shares in the company, valued at approximately $505,532.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, President Timothy William Turner sold 2,000,000 shares of Ryan Specialty stock in a transaction on Friday, August 9th. The shares were sold at an average price of $62.45, for a total value of $124,900,000.00. Following the sale, the president now owns 8,095 shares of the company’s stock, valued at approximately $505,532.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Nicholas Dominic Cortezi sold 5,375 shares of the company’s stock in a transaction on Wednesday, August 28th. The stock was sold at an average price of $64.73, for a total transaction of $347,923.75. Following the transaction, the director now owns 2,685 shares of the company’s stock, valued at $173,800.05. The disclosure for this sale can be found here. Insiders have sold 2,107,136 shares of company stock worth $131,860,032 over the last quarter. 11.10% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Ryan Specialty

A number of hedge funds have recently modified their holdings of the business. GAMMA Investing LLC grew its holdings in shares of Ryan Specialty by 96.4% in the second quarter. GAMMA Investing LLC now owns 605 shares of the company’s stock valued at $35,000 after purchasing an additional 297 shares during the period. Arizona State Retirement System increased its holdings in shares of Ryan Specialty by 2.2% during the 2nd quarter. Arizona State Retirement System now owns 28,246 shares of the company’s stock worth $1,636,000 after buying an additional 611 shares during the last quarter. Precision Wealth Strategies LLC increased its holdings in shares of Ryan Specialty by 4.1% during the 1st quarter. Precision Wealth Strategies LLC now owns 15,774 shares of the company’s stock worth $875,000 after buying an additional 617 shares during the last quarter. Anderson Hoagland & Co. raised its position in shares of Ryan Specialty by 1.2% during the 2nd quarter. Anderson Hoagland & Co. now owns 51,615 shares of the company’s stock valued at $2,909,000 after buying an additional 624 shares during the period. Finally, Crewe Advisors LLC purchased a new position in Ryan Specialty in the second quarter worth approximately $39,000. 84.82% of the stock is currently owned by institutional investors and hedge funds.

About Ryan Specialty

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.