Ryan Specialty Holdings, Inc. (NYSE:RYAN) Receives $73.50 Average Price Target from Brokerages

Shares of Ryan Specialty Holdings, Inc. (NYSE:RYAN) have been given an average recommendation of “Hold” by the twelve research firms that are presently covering the company, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, five have assigned a hold recommendation and six have issued a buy recommendation on the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $73.50.

Several research analysts recently issued reports on RYAN shares. Morgan Stanley started coverage on Ryan Specialty in a research report on Thursday, December 5th. They set an “overweight” rating and a $90.00 target price on the stock. BMO Capital Markets raised shares of Ryan Specialty from a “market perform” rating to an “outperform” rating and lifted their price objective for the stock from $65.00 to $75.00 in a report on Tuesday, September 24th. The Goldman Sachs Group increased their target price on shares of Ryan Specialty from $64.00 to $72.00 and gave the company a “neutral” rating in a report on Wednesday, October 9th. Wells Fargo & Company boosted their price target on shares of Ryan Specialty from $63.00 to $70.00 and gave the stock an “equal weight” rating in a report on Thursday, October 10th. Finally, Barclays increased their price objective on shares of Ryan Specialty from $76.00 to $88.00 and gave the company an “overweight” rating in a research note on Thursday, November 21st.

Insiders Place Their Bets

In other news, Director Nicholas Dominic Cortezi sold 35,000 shares of Ryan Specialty stock in a transaction dated Wednesday, December 18th. The shares were sold at an average price of $65.17, for a total value of $2,280,950.00. Following the completion of the transaction, the director now owns 50,400 shares in the company, valued at $3,284,568. This trade represents a 40.98 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director David P. Bolger sold 7,055 shares of the business’s stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $70.88, for a total transaction of $500,058.40. Following the completion of the sale, the director now directly owns 78,149 shares in the company, valued at approximately $5,539,201.12. This trade represents a 8.28 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 126,936 shares of company stock valued at $8,536,282 over the last ninety days. 11.10% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Ryan Specialty

Large investors have recently made changes to their positions in the stock. Principal Financial Group Inc. grew its stake in Ryan Specialty by 148.9% during the third quarter. Principal Financial Group Inc. now owns 851,704 shares of the company’s stock valued at $56,545,000 after acquiring an additional 509,548 shares in the last quarter. Bank of New York Mellon Corp grew its position in shares of Ryan Specialty by 132.2% during the 2nd quarter. Bank of New York Mellon Corp now owns 836,209 shares of the company’s stock valued at $48,425,000 after purchasing an additional 476,126 shares in the last quarter. Jennison Associates LLC increased its holdings in shares of Ryan Specialty by 60.2% in the third quarter. Jennison Associates LLC now owns 1,025,063 shares of the company’s stock worth $68,054,000 after purchasing an additional 385,366 shares during the period. Eagle Asset Management Inc. raised its position in shares of Ryan Specialty by 32.1% in the third quarter. Eagle Asset Management Inc. now owns 1,380,510 shares of the company’s stock worth $98,555,000 after buying an additional 335,180 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in Ryan Specialty by 43.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 938,187 shares of the company’s stock valued at $62,286,000 after buying an additional 286,380 shares during the period. 84.82% of the stock is owned by institutional investors.

Ryan Specialty Stock Performance

NYSE RYAN opened at $63.72 on Tuesday. The company has a market cap of $16.68 billion, a P/E ratio of 82.75, a PEG ratio of 1.52 and a beta of 0.67. The company has a fifty day simple moving average of $69.55 and a 200 day simple moving average of $65.23. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 2.40. Ryan Specialty has a 12-month low of $41.65 and a 12-month high of $75.97.

Ryan Specialty (NYSE:RYAN) last posted its earnings results on Wednesday, October 30th. The company reported $0.41 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.41. The company had revenue of $604.69 million for the quarter, compared to analyst estimates of $602.04 million. Ryan Specialty had a net margin of 10.31% and a return on equity of 47.90%. The firm’s revenue was up 20.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.32 EPS. Sell-side analysts predict that Ryan Specialty will post 1.82 earnings per share for the current fiscal year.

Ryan Specialty Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, November 26th. Shareholders of record on Tuesday, November 12th were issued a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a yield of 0.69%. The ex-dividend date of this dividend was Tuesday, November 12th. Ryan Specialty’s dividend payout ratio (DPR) is 57.14%.

About Ryan Specialty

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.