Ryan Specialty Holdings, Inc. (NYSE:RYAN) Declares $0.11 Quarterly Dividend

Ryan Specialty Holdings, Inc. (NYSE:RYAN) announced a quarterly dividend on Thursday, August 1st, Zacks reports. Investors of record on Tuesday, August 13th will be given a dividend of 0.11 per share on Tuesday, August 27th. This represents a $0.44 dividend on an annualized basis and a dividend yield of 0.64%. The ex-dividend date of this dividend is Tuesday, August 13th.

Ryan Specialty has a payout ratio of 20.7% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Ryan Specialty to earn $2.13 per share next year, which means the company should continue to be able to cover its $0.44 annual dividend with an expected future payout ratio of 20.7%.

Ryan Specialty Stock Performance

Shares of Ryan Specialty stock traded up $6.06 on Friday, reaching $68.57. 2,267,165 shares of the stock were exchanged, compared to its average volume of 816,493. Ryan Specialty has a twelve month low of $41.49 and a twelve month high of $69.03. The firm has a market capitalization of $17.86 billion, a price-to-earnings ratio of 129.36, a PEG ratio of 1.62 and a beta of 0.62. The business has a 50 day moving average price of $57.18 and a two-hundred day moving average price of $52.61. The company has a quick ratio of 1.15, a current ratio of 1.15 and a debt-to-equity ratio of 1.99.

Ryan Specialty (NYSE:RYAN) last announced its quarterly earnings results on Thursday, August 1st. The company reported $0.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.57 by $0.01. Ryan Specialty had a return on equity of 49.43% and a net margin of 10.21%. The company had revenue of $695.40 million during the quarter, compared to the consensus estimate of $695.56 million. During the same period in the previous year, the company posted $0.45 earnings per share. Ryan Specialty’s revenue for the quarter was up 18.9% on a year-over-year basis. Analysts anticipate that Ryan Specialty will post 1.77 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the company. UBS Group boosted their price target on Ryan Specialty from $63.00 to $67.00 and gave the company a “buy” rating in a report on Tuesday, July 9th. Bank of America started coverage on Ryan Specialty in a report on Wednesday, May 22nd. They issued a “buy” rating and a $67.00 price target for the company. Wells Fargo & Company upped their target price on Ryan Specialty from $60.00 to $63.00 and gave the stock an “equal weight” rating in a research note on Friday. Wolfe Research downgraded Ryan Specialty from an “outperform” rating to a “peer perform” rating in a research note on Monday, May 6th. Finally, JMP Securities reaffirmed a “market perform” rating on shares of Ryan Specialty in a research note on Monday, April 15th. One analyst has rated the stock with a sell rating, six have given a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Ryan Specialty presently has an average rating of “Hold” and an average target price of $59.00.

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.