Ryan Specialty (NYSE:RYAN) Sets New 12-Month Low - Here's Why

Key Points

• Shares hit a new 52-week low, trading as low as $29.28 (last $30.25) on heavy volume as several firms cut ratings and price targets; the consensus MarketBeat rating is "Hold" with an average target of $47.82.
• Ryan Specialty beat Q1 expectations with EPS of $0.47 and revenue of $795.2M (+15.2% YoY) and announced a quarterly dividend of $0.13 per share (annualized yield ~1.6%).
• Director Patrick G. Ryan Jr. purchased 25,500 shares in February, and insiders collectively own about 52.03% of the stock.

Shares of Ryan Specialty Holdings Inc. (NYSE:RYAN - Get Free Report) reached a new 52-week low during mid-day trading on Thursday . The company traded as low as $29.28 and last traded at $30.2460, with a volume of 154428 shares changing hands. The stock had previously closed at $29.39.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on RYAN. Keefe, Bruyette & Woods reduced their price objective on Ryan Specialty from $49.00 to $42.00 and set an "outperform" rating on the stock in a research note on Friday, May 1st. Weiss Ratings reiterated a "sell (d+)" rating on shares of Ryan Specialty in a research note on Monday. BMO Capital Markets cut shares of Ryan Specialty from an "outperform" rating to a "market perform" rating and decreased their target price for the stock from $66.00 to $43.00 in a research report on Wednesday, February 25th. Zacks Research cut shares of Ryan Specialty from a "hold" rating to a "strong sell" rating in a research note on Tuesday, February 24th. Finally, Wells Fargo & Company cut Ryan Specialty from an "overweight" rating to an "equal weight" rating and decreased their target price for the company from $42.00 to $31.00 in a research note on Friday, May 1st. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, six have issued a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat.com, Ryan Specialty currently has an average rating of "Hold" and an average price target of $47.82.

Ryan Specialty Stock Up 7.7%

The company has a market cap of $8.36 billion, a P/E ratio of 41.11, a PEG ratio of 0.70 and a beta of 0.68. The company has a debt-to-equity ratio of 2.90, a quick ratio of 0.98 and a current ratio of 1.02. The firm's 50-day simple moving average is $35.68 and its 200 day simple moving average is $46.00.

Ryan Specialty (NYSE:RYAN - Get Free Report) last released its quarterly earnings results on Thursday, April 30th. The company reported $0.47 earnings per share for the quarter, topping analysts' consensus estimates of $0.43 by $0.04. The firm had revenue of $795.23 million during the quarter, compared to the consensus estimate of $781.44 million. Ryan Specialty had a return on equity of 41.33% and a net margin of 8.21%.The business's revenue was up 15.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.39 EPS. On average, research analysts forecast that Ryan Specialty Holdings Inc. will post 2.12 earnings per share for the current fiscal year.

Ryan Specialty Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, May 26th. Shareholders of record on Tuesday, May 12th will be paid a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date of this dividend is Tuesday, May 12th. Ryan Specialty's payout ratio is presently 67.53%.

Insiders Place Their Bets

In related news, Director Patrick G. Ryan, Jr. acquired 25,500 shares of the company's stock in a transaction dated Monday, February 23rd. The shares were purchased at an average price of $39.96 per share, for a total transaction of $1,018,980.00. Following the completion of the acquisition, the director owned 428,295 shares of the company's stock, valued at approximately $17,114,668.20. This trade represents a 6.33% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 52.03% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. Los Angeles Capital Management LLC purchased a new position in shares of Ryan Specialty in the fourth quarter worth $25,000. Advisory Services Network LLC purchased a new stake in shares of Ryan Specialty in the 3rd quarter worth approximately $28,000. SBI Securities Co. Ltd. raised its position in shares of Ryan Specialty by 6,322.2% in the 4th quarter. SBI Securities Co. Ltd. now owns 578 shares of the company's stock worth $30,000 after purchasing an additional 569 shares during the last quarter. Fifth Third Bancorp grew its holdings in shares of Ryan Specialty by 65.4% during the third quarter. Fifth Third Bancorp now owns 612 shares of the company's stock valued at $34,000 after buying an additional 242 shares during the last quarter. Finally, Parallel Advisors LLC lifted its holdings in shares of Ryan Specialty by 54.9% during the first quarter. Parallel Advisors LLC now owns 1,013 shares of the company's stock valued at $34,000 after purchasing an additional 359 shares in the last quarter. Hedge funds and other institutional investors own 84.82% of the company's stock.

About Ryan Specialty

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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