Ryan Specialty (NYSE:RYAN) Shares Down 4.1% – What’s Next?

Ryan Specialty Holdings, Inc. (NYSE:RYAN)’s stock price was down 4.1% on Monday . The company traded as low as $64.53 and last traded at $65.72. Approximately 104,650 shares traded hands during mid-day trading, a decline of 89% from the average daily volume of 987,767 shares. The stock had previously closed at $68.55.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the company. TD Cowen assumed coverage on Ryan Specialty in a research note on Thursday, April 10th. They set a “buy” rating and a $89.00 price objective for the company. Wells Fargo & Company lowered their target price on Ryan Specialty from $69.00 to $66.00 and set an “equal weight” rating on the stock in a report on Thursday, April 10th. Keefe, Bruyette & Woods cut their price target on shares of Ryan Specialty from $76.00 to $75.00 and set an “outperform” rating for the company in a research note on Wednesday, April 9th. Barclays lowered their price objective on shares of Ryan Specialty from $88.00 to $83.00 and set an “overweight” rating for the company in a research report on Friday, April 11th. Finally, Morgan Stanley boosted their price target on shares of Ryan Specialty from $78.00 to $80.00 and gave the company an “overweight” rating in a report on Monday, May 19th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $75.58.

Ryan Specialty Price Performance

The business has a 50-day moving average price of $69.62 and a 200 day moving average price of $68.69. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 2.40. The company has a market cap of $17.47 billion, a price-to-earnings ratio of 96.50, a P/E/G ratio of 1.19 and a beta of 0.70.

Ryan Specialty (NYSE:RYAN) last released its quarterly earnings results on Thursday, May 1st. The company reported $0.39 EPS for the quarter, meeting analysts’ consensus estimates of $0.39. The firm had revenue of $690.17 million for the quarter, compared to analyst estimates of $680.80 million. Ryan Specialty had a net margin of 9.14% and a return on equity of 48.01%. The company’s revenue for the quarter was up 25.0% compared to the same quarter last year. During the same period in the previous year, the business earned $0.35 earnings per share. As a group, research analysts expect that Ryan Specialty Holdings, Inc. will post 2.29 earnings per share for the current fiscal year.

Ryan Specialty Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, May 27th. Stockholders of record on Tuesday, May 13th were paid a $0.12 dividend. The ex-dividend date was Tuesday, May 13th. This represents a $0.48 annualized dividend and a dividend yield of 0.72%. Ryan Specialty’s payout ratio is 141.18%.

Insider Activity

In related news, EVP Brendan Martin Mulshine sold 30,000 shares of the business’s stock in a transaction that occurred on Friday, March 14th. The shares were sold at an average price of $69.30, for a total transaction of $2,079,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director David P. Bolger sold 5,000 shares of the firm’s stock in a transaction on Tuesday, June 3rd. The stock was sold at an average price of $70.80, for a total value of $354,000.00. Following the completion of the sale, the director now directly owns 71,467 shares of the company’s stock, valued at $5,059,863.60. The trade was a 6.54% decrease in their position. The disclosure for this sale can be found here. Insiders own 52.21% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Whittier Trust Co. of Nevada Inc. increased its holdings in Ryan Specialty by 281.6% in the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 332 shares of the company’s stock worth $25,000 after buying an additional 245 shares during the period. SVB Wealth LLC purchased a new stake in shares of Ryan Specialty in the 1st quarter valued at $26,000. Rakuten Securities Inc. purchased a new stake in shares of Ryan Specialty during the fourth quarter worth approximately $27,000. WPG Advisers LLC acquired a new stake in shares of Ryan Specialty in the first quarter valued at approximately $32,000. Finally, Golden State Wealth Management LLC acquired a new stake in shares of Ryan Specialty in the 1st quarter valued at approximately $35,000. 84.82% of the stock is currently owned by institutional investors.

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.