Brokerages Set Ryan Specialty Holdings Inc. (NYSE:RYAN) Price Target at $53.86

Ryan Specialty Holdings Inc. (NYSE:RYAN) has been assigned a consensus recommendation of “Hold” from the nineteen analysts that are covering the company, MarketBeat reports. One analyst has rated the stock with a sell recommendation, ten have given a hold recommendation and eight have assigned a buy recommendation to the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $52.9706.

RYAN has been the topic of several research analyst reports. Citigroup increased their price target on shares of Ryan Specialty from $50.00 to $53.50 and gave the company a “buy” rating in a report on Monday, August 3rd. UBS Group upped their target price on Ryan Specialty from $50.00 to $55.00 and gave the company a “buy” rating in a research report on Monday, August 3rd. Zacks Research upgraded Ryan Specialty from a “strong sell” rating to a “hold” rating in a research note on Tuesday, June 30th. Weiss Ratings raised Ryan Specialty from a “sell (d+)” rating to a “hold (c-)” rating in a report on Thursday, August 13th. Finally, Wells Fargo & Company lifted their price target on Ryan Specialty from $39.00 to $43.00 and gave the stock an “equal weight” rating in a report on Monday, August 3rd.

Institutional Investors Weigh In On Ryan Specialty

Institutional investors have recently modified their holdings of the business. WINTON GROUP Ltd bought a new position in Ryan Specialty during the second quarter worth about $351,000. Integrated Wealth Concepts LLC bought a new stake in Ryan Specialty in the 2nd quarter valued at about $73,000. Allworth Financial LP boosted its holdings in Ryan Specialty by 70.0% in the 2nd quarter. Allworth Financial LP now owns 787 shares of the company’s stock valued at $30,000 after purchasing an additional 324 shares during the period. Vulcan Value Partners LLC grew its position in shares of Ryan Specialty by 20.0% during the 2nd quarter. Vulcan Value Partners LLC now owns 7,912,669 shares of the company’s stock worth $298,782,000 after purchasing an additional 1,317,334 shares in the last quarter. Finally, Arizona State Retirement System grew its position in shares of Ryan Specialty by 1.1% during the 2nd quarter. Arizona State Retirement System now owns 30,415 shares of the company’s stock worth $1,148,000 after purchasing an additional 342 shares in the last quarter. Institutional investors own 84.82% of the company’s stock.

Ryan Specialty Stock Up 2.6%

RYAN opened at $40.22 on Thursday. The stock’s fifty day simple moving average is $42.17 and its 200 day simple moving average is $37.55. Ryan Specialty has a 1-year low of $29.28 and a 1-year high of $59.19. The stock has a market cap of $10.29 billion, a PE ratio of 55.87, a price-to-earnings-growth ratio of 0.78 and a beta of 0.57. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 3.51.

Ryan Specialty (NYSE:RYAN) last released its quarterly earnings data on Thursday, July 30th. The company reported $0.74 EPS for the quarter, beating the consensus estimate of $0.60 by $0.14. The firm had revenue of $916.65 million for the quarter, compared to the consensus estimate of $873.93 million. Ryan Specialty had a net margin of 7.55% and a return on equity of 43.97%. The company’s quarterly revenue was up 7.2% on a year-over-year basis. During the same period in the previous year, the company earned $0.66 earnings per share. As a group, research analysts expect that Ryan Specialty will post 2.18 earnings per share for the current year.

Ryan Specialty declared that its board has authorized a stock repurchase program on Tuesday, May 26th that permits the company to buyback $300.00 million in outstanding shares. This buyback authorization permits the company to reacquire up to 3.5% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.

Ryan Specialty Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, August 25th. Shareholders of record on Tuesday, August 11th were given a dividend of $0.13 per share. The ex-dividend date was Tuesday, August 11th. This represents a $0.52 annualized dividend and a yield of 1.3%. Ryan Specialty’s dividend payout ratio (DPR) is presently 72.22%.

About Ryan Specialty

Ryan Specialty Holdings, Inc is a global specialty insurance organization that provides distribution, underwriting and product-development solutions for complex, hard-to-place risks. The company primarily serves insurance brokers, agents, carriers and other market participants that require specialized expertise, capacity and tailored coverage.

Its businesses include wholesale brokerage, managing general underwriting and delegated underwriting operations, as well as specialty insurance products and services.