Brokerages Set Ryan Specialty Holdings Inc. (NYSE:RYAN) Target Price at $77.30

Key Points

• Ryan Specialty Holdings Inc. has received a consensus recommendation of "Moderate Buy" from analysts, with eight out of ten analysts assigning buy ratings.
• The company's average 12-month price target is set at $77.30, with recent price objectives adjusted by several brokerages, ranging between $78.00 and $89.00.
• Ryan Specialty announced a quarterly dividend of $0.12 per share, yielding 0.8%, set to be paid on August 26th; the company has a high dividend payout ratio of 137.14%.

Ryan Specialty Holdings Inc. (NYSE:RYAN - Get Free Report) has been given an average recommendation of "Moderate Buy" by the ten analysts that are covering the firm, MarketBeat Ratings reports. Two research analysts have rated the stock with a hold recommendation and eight have given a buy recommendation to the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $77.30.

RYAN has been the subject of several research analyst reports. Barclays reduced their target price on shares of Ryan Specialty from $83.00 to $79.00 and set an "overweight" rating for the company in a report on Monday, July 7th. Morgan Stanley reduced their target price on shares of Ryan Specialty from $80.00 to $78.00 and set an "overweight" rating for the company in a report on Monday, July 14th. The Goldman Sachs Group raised shares of Ryan Specialty from a "neutral" rating to a "buy" rating and lifted their target price for the stock from $74.00 to $81.00 in a report on Tuesday, May 13th. UBS Group reduced their target price on shares of Ryan Specialty from $84.00 to $80.00 and set a "buy" rating for the company in a report on Monday, August 4th. Finally, Wells Fargo & Company cut their price objective on shares of Ryan Specialty from $63.00 to $60.00 and set an "equal weight" rating for the company in a report on Friday, August 1st.

Insider Buying and Selling

In other news, Director David P. Bolger sold 5,000 shares of the company's stock in a transaction that occurred on Tuesday, June 3rd. The shares were sold at an average price of $70.80, for a total transaction of $354,000.00. Following the completion of the sale, the director owned 71,467 shares of the company's stock, valued at approximately $5,059,863.60. This represents a 6.54% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Mark Stephen Katz sold 14,377 shares of the stock in a transaction that occurred on Friday, June 13th. The shares were sold at an average price of $65.84, for a total transaction of $946,581.68. Following the completion of the transaction, the executive vice president directly owned 1,117 shares of the company's stock, valued at approximately $73,543.28. The trade was a 92.79% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 52.21% of the company's stock.

Hedge Funds Weigh In On Ryan Specialty

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Intech Investment Management LLC lifted its stake in Ryan Specialty by 16.4% in the 2nd quarter. Intech Investment Management LLC now owns 28,675 shares of the company's stock valued at $1,950,000 after purchasing an additional 4,033 shares during the last quarter. Cetera Investment Advisers lifted its stake in Ryan Specialty by 9.9% in the 2nd quarter. Cetera Investment Advisers now owns 14,446 shares of the company's stock valued at $982,000 after purchasing an additional 1,306 shares during the last quarter. Creative Planning lifted its stake in Ryan Specialty by 15.4% in the 2nd quarter. Creative Planning now owns 4,586 shares of the company's stock valued at $312,000 after purchasing an additional 613 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its stake in Ryan Specialty by 8.7% in the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 27,658 shares of the company's stock valued at $1,880,000 after purchasing an additional 2,225 shares during the last quarter. Finally, Police & Firemen s Retirement System of New Jersey increased its position in Ryan Specialty by 7.1% in the 2nd quarter. Police & Firemen s Retirement System of New Jersey now owns 39,806 shares of the company's stock valued at $2,706,000 after acquiring an additional 2,649 shares during the period. Institutional investors own 84.82% of the company's stock.

Ryan Specialty Stock Performance

Shares of Ryan Specialty stock traded down $1.02 during trading on Wednesday, hitting $58.53. 1,344,980 shares of the stock were exchanged, compared to its average volume of 1,485,492. The stock has a market capitalization of $15.36 billion, a price-to-earnings ratio of 167.23, a price-to-earnings-growth ratio of 1.72 and a beta of 0.64. The company has a fifty day moving average price of $65.30 and a 200-day moving average price of $67.91. Ryan Specialty has a 1-year low of $55.77 and a 1-year high of $77.16. The company has a current ratio of 1.01, a quick ratio of 1.05 and a debt-to-equity ratio of 2.88.

Ryan Specialty (NYSE:RYAN - Get Free Report) last announced its earnings results on Thursday, July 31st. The company reported $0.66 EPS for the quarter, hitting the consensus estimate of $0.66. The business had revenue of $855.17 million during the quarter, compared to the consensus estimate of $837.52 million. Ryan Specialty had a net margin of 6.81% and a return on equity of 48.70%. Ryan Specialty's revenue was up 23.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.58 EPS. As a group, equities analysts predict that Ryan Specialty will post 2.29 EPS for the current fiscal year.

Ryan Specialty Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, August 26th. Stockholders of record on Tuesday, August 12th will be issued a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date of this dividend is Tuesday, August 12th. Ryan Specialty's dividend payout ratio is 137.14%.

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.