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

Shares of Ryan Specialty Holdings Inc. (NYSE:RYAN) have been assigned an average rating of “Hold” from the nineteen brokerages that are covering the stock, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and eight have given a buy rating to the company. The average 12-month price target among analysts that have covered the stock in the last year is $50.00.

A number of analysts have issued reports on the stock. Bank of America reduced their price target on shares of Ryan Specialty from $70.00 to $68.00 and set a “buy” rating on the stock in a report on Tuesday, April 14th. Wolfe Research downgraded shares of Ryan Specialty from an “outperform” rating to a “peer perform” rating in a report on Thursday, July 9th. JPMorgan Chase & Co. raised their price objective on Ryan Specialty from $37.00 to $39.00 and gave the company an “underweight” rating in a research report on Monday, July 13th. The Goldman Sachs Group lifted their target price on Ryan Specialty from $35.00 to $40.00 and gave the stock a “neutral” rating in a report on Wednesday, July 1st. Finally, Citigroup decreased their target price 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.

Ryan Specialty Trading Down 2.8%

Ryan Specialty stock opened at $40.81 on Wednesday. Ryan Specialty has a 1 year low of $29.28 and a 1 year high of $66.27. The firm’s 50 day moving average price is $36.04 and its 200-day moving average price is $38.80. 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 stock has a market cap of $10.76 billion, a P/E ratio of 53.00, a PEG ratio of 0.91 and a beta of 0.61.

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

Ryan Specialty Dividend Announcement

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

Ryan Specialty announced that its Board of Directors has initiated a stock buyback program on Tuesday, May 26th that permits the company to buyback $300.00 million in outstanding shares. This buyback authorization permits the company to purchase up to 3.5% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s board of directors believes its shares are undervalued.

Insider Transactions at Ryan Specialty

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

Hedge Funds Weigh In On Ryan Specialty

Institutional investors and hedge funds have recently made changes to their positions in the business. Valeo Financial Advisors LLC purchased a new stake in shares of Ryan Specialty during the 2nd quarter valued at about $219,000. GAMMA Investing LLC lifted its holdings in shares of Ryan Specialty by 90.2% in the 2nd quarter. GAMMA Investing LLC now owns 2,107 shares of the company’s stock valued at $80,000 after acquiring an additional 999 shares during the last quarter. Confluence Investment Management LLC purchased a new position in Ryan Specialty in the second quarter worth about $7,137,000. Parallel Advisors LLC grew its position in Ryan Specialty by 54.9% in the first quarter. Parallel Advisors LLC now owns 1,013 shares of the company’s stock worth $34,000 after acquiring an additional 359 shares in the last quarter. Finally, Bank of America Corp DE increased its stake in Ryan Specialty by 34.8% during the first quarter. Bank of America Corp DE now owns 1,508,083 shares of the company’s stock worth $50,883,000 after acquiring an additional 389,505 shares during 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.