Ryan Specialty Holdings Inc. (NYSE:RYAN) Receives Consensus Recommendation of "Hold" from Brokerages

Key Points

• Ryan Specialty Holdings has a consensus analyst rating of “Hold” from 19 research firms, with an average 12-month price target of about $47.12.
• The company reported better-than-expected quarterly results, posting EPS of $0.47 versus $0.43 expected and revenue of $795.23 million, up 15.2% year over year.
• Ryan Specialty also announced a quarterly dividend of $0.13 per share and a $300 million stock buyback program, while insiders recently added to their positions.

Shares of Ryan Specialty Holdings Inc. (NYSE:RYAN - Get Free Report) have earned a consensus recommendation of "Hold" from the nineteen research firms that are presently covering the stock, MarketBeat reports. Three analysts have rated the stock with a sell rating, seven have assigned a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $47.1176.

Several analysts have weighed in on the stock. Piper Sandler dropped their target price on shares of Ryan Specialty from $43.00 to $35.00 and set a "neutral" rating on the stock in a research report on Friday, May 1st. Royal Bank Of Canada initiated coverage on shares of Ryan Specialty in a research report on Tuesday, March 17th. They set an "outperform" rating and a $45.00 target price on the stock. Wells Fargo & Company cut shares of Ryan Specialty from an "overweight" rating to an "equal weight" rating and decreased their price objective for the company from $42.00 to $31.00 in a research note on Friday, May 1st. Citigroup decreased their price objective on shares of Ryan Specialty from $55.00 to $50.00 and set a "buy" rating for the company in a research note on Monday, May 4th. Finally, Cantor Fitzgerald decreased their price objective on shares of Ryan Specialty from $45.00 to $40.00 and set a "neutral" rating for the company in a research note on Thursday, April 9th.

Insider Activity at Ryan Specialty

In related news, Director John W. Rogers, Jr. purchased 7,500 shares of the company's stock in a transaction that occurred on Wednesday, June 10th. The shares were purchased at an average price of $35.16 per share, with a total value of $263,700.00. Following the purchase, the director owned 117,933 shares of the company's stock, valued at $4,146,524.28. The trade was a 6.79% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Mark Stephen Katz acquired 3,215 shares of the stock in a transaction that occurred on Wednesday, June 3rd. The stock was purchased at an average price of $31.07 per share, for a total transaction of $99,890.05. Following the completion of the acquisition, the executive vice president owned 4,332 shares in the company, valued at $134,595.24. The trade was a 287.82% increase in their position. The disclosure for this purchase is available in the SEC filing. Over the last ninety days, insiders purchased 130,715 shares of company stock worth $4,263,590. 52.03% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Ryan Specialty

Several institutional investors have recently bought and sold shares of the company. Ameritas Investment Partners Inc. raised its position in shares of Ryan Specialty by 0.9% in the third quarter. Ameritas Investment Partners Inc. now owns 21,119 shares of the company's stock worth $1,190,000 after acquiring an additional 185 shares during the period. Public Employees Retirement System of Ohio raised its position in shares of Ryan Specialty by 0.6% in the third quarter. Public Employees Retirement System of Ohio now owns 32,797 shares of the company's stock worth $1,848,000 after acquiring an additional 203 shares during the period. Covestor Ltd raised its position in shares of Ryan Specialty by 16.8% in the fourth quarter. Covestor Ltd now owns 1,467 shares of the company's stock worth $76,000 after acquiring an additional 211 shares during the period. Northwestern Mutual Investment Management Company LLC raised its position in shares of Ryan Specialty by 1.0% in the fourth quarter. Northwestern Mutual Investment Management Company LLC now owns 25,355 shares of the company's stock worth $1,309,000 after acquiring an additional 240 shares during the period. Finally, Federation des caisses Desjardins du Quebec raised its position in shares of Ryan Specialty by 7.8% in the fourth quarter. Federation des caisses Desjardins du Quebec now owns 3,313 shares of the company's stock worth $171,000 after acquiring an additional 240 shares during the period. 84.82% of the stock is currently owned by institutional investors and hedge funds.

Ryan Specialty Stock Up 7.8%

Ryan Specialty stock opened at $38.76 on Friday. The firm has a market cap of $10.22 billion, a P/E ratio of 50.33, a P/E/G ratio of 0.86 and a beta of 0.64. Ryan Specialty has a twelve month low of $29.28 and a twelve month high of $69.10. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 2.90. The business has a fifty day moving average of $33.76 and a two-hundred day moving average of $40.30.

Ryan Specialty (NYSE:RYAN - Get Free Report) last announced its earnings results on Thursday, April 30th. The company reported $0.47 earnings per share for the quarter, beating the consensus estimate of $0.43 by $0.04. The company had revenue of $795.23 million during the quarter, compared to the consensus estimate of $781.44 million. Ryan Specialty had a net margin of 8.21% and a return on equity of 41.33%. Ryan Specialty's revenue was up 15.2% compared to the same quarter last year. During the same period last year, the firm earned $0.39 earnings per share. On average, analysts forecast that Ryan Specialty will post 2.06 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 26th. Shareholders of record on Tuesday, May 12th were issued a $0.13 dividend. This represents a $0.52 annualized dividend and a yield of 1.3%. The ex-dividend date of this dividend was Tuesday, May 12th. Ryan Specialty's dividend payout ratio is presently 67.53%.

Ryan Specialty declared that its Board of Directors has authorized a stock repurchase plan on Tuesday, May 26th that authorizes the company to buyback $300.00 million in shares. This buyback authorization authorizes the company to purchase up to 3.5% of its stock through open market purchases. Stock buyback plans are typically an indication that the company's management believes its shares are undervalued.

Ryan Specialty Company Profile

Ryan Specialty Group, Inc NYSE: RYAN is a global specialty insurance and reinsurance platform that partners with a network of insurers and reinsurers to deliver tailored risk solutions. The company focuses on complex and large-scale risks across multiple industry sectors, leveraging its underwriting expertise to structure coverage programs that meet clients' unique needs.

Ryan Specialty's core offerings span a diverse range of specialty lines, including casualty, property, professional liability, marine and energy, program administration, and sports and entertainment.

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