Ryan Specialty Holdings, Inc. (NYSE:RYAN) Receives $63.40 Consensus Target Price from Brokerages

Shares of Ryan Specialty Holdings, Inc. (NYSE:RYAN) have earned a consensus recommendation of “Hold” from the eleven brokerages that are currently covering the stock, MarketBeat reports. One analyst has rated the stock with a sell rating, six have issued a hold rating and four have given a buy rating to the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $63.40.

A number of research firms recently issued reports on RYAN. Keefe, Bruyette & Woods reiterated an “outperform” rating and set a $62.00 price objective on shares of Ryan Specialty in a report on Tuesday, July 2nd. The Goldman Sachs Group raised their price objective on Ryan Specialty from $58.00 to $64.00 and gave the company a “neutral” rating in a report on Monday, August 5th. Citigroup upped their target price on Ryan Specialty from $56.00 to $62.00 and gave the stock a “neutral” rating in a report on Tuesday, July 23rd. UBS Group raised their price target on Ryan Specialty from $67.00 to $76.00 and gave the company a “buy” rating in a research note on Tuesday, August 13th. Finally, JPMorgan Chase & Co. upped their price objective on Ryan Specialty from $54.00 to $56.00 and gave the stock an “underweight” rating in a research note on Friday, August 2nd.

Insider Activity

In other Ryan Specialty news, President Timothy William Turner sold 2,000,000 shares of the business’s stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $62.45, for a total transaction of $124,900,000.00. Following the completion of the transaction, the president now directly owns 8,095 shares in the company, valued at $505,532.75. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, EVP Jeremiah Rawlins Bickham sold 26,233 shares of the company’s stock in a transaction that occurred on Wednesday, August 14th. The shares were sold at an average price of $65.18, for a total transaction of $1,709,866.94. Following the completion of the transaction, the executive vice president now directly owns 24,845 shares in the company, valued at approximately $1,619,397.10. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, President Timothy William Turner sold 2,000,000 shares of the firm’s stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $62.45, for a total transaction of $124,900,000.00. Following the completion of the sale, the president now owns 8,095 shares in the company, valued at approximately $505,532.75. The disclosure for this sale can be found here. In the last ninety days, insiders sold 2,107,136 shares of company stock worth $131,860,032. 11.10% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Ryan Specialty

A number of institutional investors have recently added to or reduced their stakes in RYAN. Champlain Investment Partners LLC boosted its holdings in Ryan Specialty by 28.0% in the first quarter. Champlain Investment Partners LLC now owns 4,937,332 shares of the company’s stock valued at $274,022,000 after acquiring an additional 1,079,505 shares during the last quarter. Norden Group LLC raised its stake in Ryan Specialty by 2,138.1% during the first quarter. Norden Group LLC now owns 778,848 shares of the company’s stock worth $43,226,000 after buying an additional 744,049 shares during the last quarter. Bessemer Group Inc. lifted its holdings in Ryan Specialty by 33.9% in the first quarter. Bessemer Group Inc. now owns 1,925,864 shares of the company’s stock valued at $106,886,000 after buying an additional 488,067 shares during the period. Bank of New York Mellon Corp lifted its stake in shares of Ryan Specialty by 132.2% in 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 during the period. Finally, Norges Bank acquired a new position in Ryan Specialty in the fourth quarter valued at approximately $16,964,000. 84.82% of the stock is owned by institutional investors.

Ryan Specialty Price Performance

Shares of RYAN opened at $62.72 on Friday. The stock has a market cap of $16.40 billion, a P/E ratio of 118.34, a price-to-earnings-growth ratio of 1.53 and a beta of 0.62. Ryan Specialty has a 1 year low of $41.49 and a 1 year high of $69.03. The stock’s 50-day moving average price is $62.79 and its two-hundred day moving average price is $57.11. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 1.81.

Ryan Specialty (NYSE:RYAN) last posted its earnings results on Thursday, August 1st. The company reported $0.58 earnings per share for the quarter, topping the consensus estimate of $0.56 by $0.02. Ryan Specialty had a net margin of 10.21% and a return on equity of 48.08%. The company had revenue of $695.40 million for the quarter, compared to analyst estimates of $695.56 million. During the same period last year, the business posted $0.45 earnings per share. The business’s revenue for the quarter was up 18.9% compared to the same quarter last year. On average, equities analysts predict that Ryan Specialty will post 1.81 earnings per share for the current year.

Ryan Specialty Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, August 27th. Investors of record on Tuesday, August 13th were given a dividend of $0.11 per share. The ex-dividend date was Tuesday, August 13th. This represents a $0.44 annualized dividend and a yield of 0.70%. Ryan Specialty’s dividend payout ratio is 83.02%.

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.