Ryan Specialty (NYSE:RYAN) Posts Quarterly Earnings Results, Misses Estimates By $0.02 EPS

Ryan Specialty (NYSE:RYAN) announced its quarterly earnings data on Thursday. The company reported $0.45 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.47 by ($0.02), Zacks reports. The company had revenue of $663.53 million during the quarter, compared to analysts’ expectations of $658.80 million. Ryan Specialty had a net margin of 9.14% and a return on equity of 48.01%.

Ryan Specialty Trading Down 4.4 %

RYAN opened at $65.55 on Friday. The firm has a market cap of $17.16 billion, a price-to-earnings ratio of 95.00, a price-to-earnings-growth ratio of 1.19 and a beta of 0.72. Ryan Specialty has a 52 week low of $45.72 and a 52 week high of $75.97. The business’s 50 day moving average is $65.57 and its two-hundred day moving average is $67.26. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 2.40.

Ryan Specialty Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 18th. Shareholders of record on Tuesday, March 4th will be given a dividend of $0.12 per share. This is a positive change from Ryan Specialty’s previous quarterly dividend of $0.11. The ex-dividend date is Tuesday, March 4th. This represents a $0.48 annualized dividend and a yield of 0.73%. Ryan Specialty’s payout ratio is 63.77%.

Insiders Place Their Bets

In other Ryan Specialty news, Director Nicholas Dominic Cortezi sold 31,409 shares of Ryan Specialty stock in a transaction that occurred on Wednesday, January 29th. The stock was sold at an average price of $65.64, for a total transaction of $2,061,686.76. Following the transaction, the director now owns 2,697 shares of the company’s stock, valued at $177,031.08. The trade was a 92.09 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders have sold a total of 316,451 shares of company stock valued at $20,907,793 over the last quarter. Company insiders own 11.10% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. Morgan Stanley assumed coverage on Ryan Specialty in a research note on Thursday, December 5th. They issued an “overweight” rating and a $90.00 price objective for the company. Barclays lifted their price objective on Ryan Specialty from $76.00 to $88.00 and gave the company an “overweight” rating in a research note on Thursday, November 21st. Wells Fargo & Company lifted their price objective on Ryan Specialty from $64.00 to $69.00 and gave the company an “equal weight” rating in a research note on Friday. Royal Bank of Canada decreased their price objective on Ryan Specialty from $73.00 to $72.00 and set a “sector perform” rating for the company in a research note on Friday. Finally, Keefe, Bruyette & Woods decreased their price objective on Ryan Specialty from $77.00 to $76.00 and set an “outperform” rating for the company in a research note on Friday. One analyst has rated the stock with a sell rating, six have given a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, Ryan Specialty currently has an average rating of “Hold” and a consensus price target of $74.55.

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.