Brokerages Set Ryan Specialty Holdings Inc. (NYSE:RYAN) PT at $53.42

Ryan Specialty Holdings Inc. (NYSE:RYAN) has received a consensus rating of “Hold” from the nineteen ratings firms that are currently covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and eight have issued a buy rating on the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $53.8611.

RYAN has been the subject of several research reports. Mizuho lifted their target price on Ryan Specialty from $39.00 to $48.00 and gave the company a “neutral” rating in a research report on Friday, July 31st. Cantor Fitzgerald upped their target price on shares of Ryan Specialty from $34.00 to $41.00 and gave the stock a “neutral” rating in a research note on Monday, August 3rd. Morgan Stanley increased their target price on shares of Ryan Specialty from $48.00 to $50.00 and gave the stock an “overweight” rating in a report on Wednesday. UBS Group raised their price target on shares of Ryan Specialty from $50.00 to $55.00 and gave the company a “buy” rating in a research report on Monday, August 3rd. Finally, Keefe, Bruyette & Woods boosted their price target on shares of Ryan Specialty from $48.00 to $54.00 and gave the stock an “outperform” rating in a research note on Friday, July 31st.

Ryan Specialty Stock Up 1.9%

Ryan Specialty stock opened at $43.03 on Friday. The company has a market capitalization of $11.01 billion, a PE ratio of 59.76, a price-to-earnings-growth ratio of 0.84 and a beta of 0.59. The company has a debt-to-equity ratio of 3.51, a quick ratio of 1.00 and a current ratio of 1.00. Ryan Specialty has a fifty-two week low of $29.28 and a fifty-two week high of $60.34. The firm has a 50 day moving average price of $40.63 and a 200 day moving average price of $37.67.

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

Ryan Specialty declared that its board has approved a stock buyback program on Tuesday, May 26th that authorizes the company to buyback $300.00 million in shares. This buyback authorization authorizes the company to repurchase 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 stock is undervalued.

Ryan Specialty Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, August 25th. Investors of record on Tuesday, August 11th will be paid a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a yield of 1.2%. The ex-dividend date of this dividend is Tuesday, August 11th. Ryan Specialty’s payout ratio is presently 72.22%.

Insiders Place Their Bets

In related news, Chairman Patrick G. Ryan acquired 120,000 shares of the stock in a transaction dated Friday, June 5th. The stock was acquired at an average cost of $32.50 per share, with a total value of $3,900,000.00. Following the completion of the transaction, the chairman owned 13,817,859 shares in the company, valued at $449,080,417.50. This represents a 0.88% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Mark Stephen Katz bought 3,215 shares of the business’s stock in a transaction that occurred on Wednesday, June 3rd. The shares were purchased at an average price of $31.07 per share, for a total transaction of $99,890.05. Following the completion of the purchase, the executive vice president directly owned 4,332 shares of the company’s stock, valued at approximately $134,595.24. This trade represents a 287.82% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have purchased a total of 130,715 shares of company stock worth $4,263,590 in the last quarter. 52.03% of the stock is owned by company insiders.

Institutional Investors Weigh In On Ryan Specialty

A number of large investors have recently modified their holdings of the company. Advisory Services Network LLC purchased a new stake in shares of Ryan Specialty during the 3rd quarter worth $28,000. Los Angeles Capital Management LLC purchased a new position in Ryan Specialty in the fourth quarter valued at $25,000. SBI Securities Co. Ltd. raised its stake in Ryan Specialty by 6,322.2% in the fourth quarter. SBI Securities Co. Ltd. now owns 578 shares of the company’s stock valued at $30,000 after buying an additional 569 shares in the last quarter. Quarry LP acquired a new stake in Ryan Specialty in the third quarter valued at $37,000. Finally, Caitong International Asset Management Co. Ltd lifted its holdings in Ryan Specialty by 173.7% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 709 shares of the company’s stock worth $37,000 after buying an additional 450 shares during the last quarter. 84.82% of the stock is owned by hedge funds and other institutional investors.

About Ryan Specialty

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.