Ryan Specialty Holdings, Inc. (NYSE:RYAN – Get Free Report) has received a consensus recommendation of “Hold” from the twelve brokerages that are presently covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and six have given a buy rating to the company. The average 1 year target price among brokerages that have covered the stock in the last year is $73.50.
A number of research firms have recently issued reports on RYAN. Bank of America lifted their price objective on shares of Ryan Specialty from $75.00 to $84.00 and gave the company a “buy” rating in a report on Thursday, October 10th. Morgan Stanley initiated coverage on shares of Ryan Specialty in a research note on Thursday, December 5th. They issued an “overweight” rating and a $90.00 price target on the stock. Wells Fargo & Company raised their price objective on Ryan Specialty from $63.00 to $70.00 and gave the company an “equal weight” rating in a report on Thursday, October 10th. BMO Capital Markets upgraded Ryan Specialty from a “market perform” rating to an “outperform” rating and upped their target price for the stock from $65.00 to $75.00 in a report on Tuesday, September 24th. Finally, Barclays raised their price target on Ryan Specialty from $76.00 to $88.00 and gave the company an “overweight” rating in a research note on Thursday, November 21st.
View Our Latest Stock Analysis on Ryan Specialty
Ryan Specialty Trading Down 0.6 %
Ryan Specialty (NYSE:RYAN – Get Free Report) last posted its quarterly earnings data on Wednesday, October 30th. The company reported $0.41 earnings per share for the quarter, hitting the consensus estimate of $0.41. Ryan Specialty had a return on equity of 47.90% and a net margin of 10.31%. The company had revenue of $604.69 million during the quarter, compared to analysts’ expectations of $602.04 million. During the same period in the prior year, the firm earned $0.32 earnings per share. Ryan Specialty’s revenue for the quarter was up 20.5% compared to the same quarter last year. As a group, research analysts anticipate that Ryan Specialty will post 1.82 EPS for the current fiscal year.
Ryan Specialty Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, November 26th. Stockholders of record on Tuesday, November 12th were given a $0.11 dividend. This represents a $0.44 annualized dividend and a dividend yield of 0.69%. The ex-dividend date was Tuesday, November 12th. Ryan Specialty’s payout ratio is presently 57.14%.
Insider Transactions at Ryan Specialty
In other Ryan Specialty news, Director Nicholas Dominic Cortezi sold 35,000 shares of the company’s stock in a transaction on Wednesday, December 18th. The stock was sold at an average price of $65.17, for a total value of $2,280,950.00. Following the transaction, the director now directly owns 50,400 shares of the company’s stock, valued at $3,284,568. This represents a 40.98 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Mark Stephen Katz sold 14,790 shares of Ryan Specialty stock in a transaction on Friday, November 8th. The stock was sold at an average price of $71.39, for a total value of $1,055,858.10. Following the sale, the executive vice president now directly owns 12,386 shares of the company’s stock, valued at $884,236.54. This represents a 54.42 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 126,936 shares of company stock worth $8,536,282. 11.10% of the stock is owned by insiders.
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently made changes to their positions in the business. Hollencrest Capital Management bought a new position in shares of Ryan Specialty in the third quarter worth $25,000. Assetmark Inc. acquired a new stake in Ryan Specialty during the third quarter worth about $34,000. Crewe Advisors LLC bought a new position in Ryan Specialty in the 2nd quarter valued at about $39,000. Quarry LP raised its position in shares of Ryan Specialty by 109.3% in the 3rd quarter. Quarry LP now owns 808 shares of the company’s stock valued at $54,000 after buying an additional 422 shares in the last quarter. Finally, GAMMA Investing LLC lifted its holdings in shares of Ryan Specialty by 106.4% during the 3rd quarter. GAMMA Investing LLC now owns 1,249 shares of the company’s stock worth $83,000 after acquiring an additional 644 shares during the period. Institutional investors and hedge funds own 84.82% of the company’s stock.
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.
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