Ryan Specialty Holdings, Inc. (NYSE:RYAN) Announces $0.11 Quarterly Dividend

Ryan Specialty Holdings, Inc. (NYSE:RYAN) announced a quarterly dividend on Thursday, May 2nd, Zacks reports. Investors of record on Tuesday, May 14th will be given a dividend of 0.11 per share on Tuesday, May 28th. This represents a $0.44 dividend on an annualized basis and a dividend yield of 0.85%. The ex-dividend date of this dividend is Monday, May 13th.

Ryan Specialty has a payout ratio of 20.8% meaning its dividend is sufficiently covered by earnings. Research analysts expect Ryan Specialty to earn $2.13 per share next year, which means the company should continue to be able to cover its $0.44 annual dividend with an expected future payout ratio of 20.7%.

Ryan Specialty Trading Down 2.7 %

Shares of Ryan Specialty stock traded down $1.45 on Friday, reaching $51.50. 2,143,221 shares of the company were exchanged, compared to its average volume of 804,185. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 1.98. Ryan Specialty has a fifty-two week low of $39.44 and a fifty-two week high of $56.51. The firm has a market capitalization of $13.40 billion, a price-to-earnings ratio of 97.18 and a beta of 0.58. The stock has a fifty day moving average price of $52.56 and a 200-day moving average price of $47.07.

Ryan Specialty (NYSE:RYAN) last issued its earnings results on Thursday, May 2nd. The company reported $0.35 EPS for the quarter, hitting the consensus estimate of $0.35. The business had revenue of $552.00 million during the quarter, compared to analysts’ expectations of $549.06 million. Ryan Specialty had a return on equity of 46.11% and a net margin of 9.15%. Ryan Specialty’s revenue was up 20.6% compared to the same quarter last year. During the same quarter last year, the firm posted $0.26 earnings per share. On average, analysts expect that Ryan Specialty will post 1.77 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on RYAN. Keefe, Bruyette & Woods raised their price objective on Ryan Specialty from $56.00 to $62.00 and gave the company an “outperform” rating in a research note on Wednesday, April 10th. JPMorgan Chase & Co. lifted their price target on shares of Ryan Specialty from $47.00 to $49.00 and gave the company an “underweight” rating in a research report on Monday, April 8th. JMP Securities reaffirmed a “market perform” rating on shares of Ryan Specialty in a report on Monday, April 15th. Wells Fargo & Company boosted their target price on shares of Ryan Specialty from $57.00 to $58.00 and gave the stock an “overweight” rating in a research report on Thursday, April 11th. Finally, Citigroup upped their price target on shares of Ryan Specialty from $49.00 to $52.00 and gave the company a “neutral” rating in a report on Wednesday, February 28th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and four have issued a buy rating to the stock. According to MarketBeat, Ryan Specialty presently has a consensus rating of “Hold” and an average target price of $54.25.

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.