Ryan Specialty Holdings Inc. (NYSE:RYAN) Receives $68.54 Average Target Price from Brokerages

Shares of Ryan Specialty Holdings Inc. (NYSE:RYAN) have received a consensus rating of “Moderate Buy” from the fourteen ratings firms that are presently covering the company, Marketbeat reports. One analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation, nine have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $68.5385.

RYAN has been the subject of a number of analyst reports. Citigroup began coverage on shares of Ryan Specialty in a research report on Wednesday, August 13th. They issued a “buy” rating and a $74.00 price objective for the company. Weiss Ratings reiterated a “hold (c-)” rating on shares of Ryan Specialty in a research note on Wednesday, October 8th. Morgan Stanley reduced their price objective on Ryan Specialty from $68.00 to $65.00 and set an “overweight” rating for the company in a report on Tuesday, October 7th. Wolfe Research raised Ryan Specialty to a “strong-buy” rating in a research note on Tuesday, September 16th. Finally, Cantor Fitzgerald raised shares of Ryan Specialty to a “hold” rating in a research note on Wednesday, August 13th.

Insider Activity

In other Ryan Specialty news, Chairman Patrick G. Ryan bought 276,634 shares of the stock in a transaction dated Friday, September 12th. The stock was bought at an average cost of $51.84 per share, for a total transaction of $14,340,706.56. Following the completion of the purchase, the chairman directly owned 13,699,959 shares of the company’s stock, valued at approximately $710,205,874.56. The trade was a 2.06% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Company insiders own 52.21% of the company’s stock.

Institutional Investors Weigh In On Ryan Specialty

A number of institutional investors have recently modified their holdings of RYAN. Ameritas Investment Partners Inc. boosted its position in shares of Ryan Specialty by 0.9% during the 3rd quarter. Ameritas Investment Partners Inc. now owns 21,119 shares of the company’s stock valued at $1,190,000 after purchasing an additional 185 shares in the last quarter. MAI Capital Management lifted its position in shares of Ryan Specialty by 65.3% during the 2nd quarter. MAI Capital Management now owns 476 shares of the company’s stock valued at $32,000 after acquiring an additional 188 shares during the last quarter. Baker Tilly Wealth Management LLC boosted its stake in shares of Ryan Specialty by 5.6% during the 3rd quarter. Baker Tilly Wealth Management LLC now owns 3,595 shares of the company’s stock worth $203,000 after acquiring an additional 192 shares in the last quarter. ProShare Advisors LLC grew its holdings in shares of Ryan Specialty by 5.2% in the 2nd quarter. ProShare Advisors LLC now owns 4,772 shares of the company’s stock worth $324,000 after acquiring an additional 238 shares during the last quarter. Finally, Securian Asset Management Inc. raised its position in shares of Ryan Specialty by 2.9% during the third quarter. Securian Asset Management Inc. now owns 8,438 shares of the company’s stock worth $476,000 after purchasing an additional 241 shares during the period. Institutional investors own 84.82% of the company’s stock.

Ryan Specialty Stock Performance

Shares of RYAN stock opened at $56.41 on Friday. The firm has a market cap of $14.88 billion, a price-to-earnings ratio of 122.64, a P/E/G ratio of 1.58 and a beta of 0.62. The company has a debt-to-equity ratio of 2.72, a quick ratio of 1.00 and a current ratio of 1.00. Ryan Specialty has a 52 week low of $50.08 and a 52 week high of $77.16. The firm’s 50-day simple moving average is $54.53 and its two-hundred day simple moving average is $61.07.

Ryan Specialty (NYSE:RYAN) last posted its quarterly earnings data on Thursday, October 30th. The company reported $0.47 EPS for the quarter, meeting analysts’ consensus estimates of $0.47. Ryan Specialty had a return on equity of 47.93% and a net margin of 7.61%.The company had revenue of $754.58 million during the quarter, compared to analysts’ expectations of $742.35 million. During the same quarter in the prior year, the business earned $0.41 earnings per share. Ryan Specialty’s revenue for the quarter was up 24.8% compared to the same quarter last year. As a group, equities analysts forecast that Ryan Specialty will post 2.29 earnings per share for the current year.

Ryan Specialty Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 25th. Stockholders of record on Tuesday, November 11th will be paid a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 0.9%. The ex-dividend date of this dividend is Monday, November 10th. Ryan Specialty’s payout ratio is currently 104.35%.

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.