Ryan Specialty (NYSE:RYAN) Stock Price Down 4.3% – Time to Sell?

Ryan Specialty Holdings Inc. (NYSE:RYAN) shares were down 4.3% during mid-day trading on Wednesday . The stock traded as low as $50.62 and last traded at $49.9620. Approximately 106,045 shares were traded during trading, a decline of 91% from the average daily volume of 1,231,194 shares. The stock had previously closed at $52.19.

Analyst Ratings Changes

A number of analysts have weighed in on the stock. Piper Sandler started coverage on shares of Ryan Specialty in a report on Thursday, November 20th. They set a “neutral” rating and a $60.00 target price on the stock. Cowen reiterated a “buy” rating on shares of Ryan Specialty in a research note on Wednesday, November 26th. JPMorgan Chase & Co. decreased their target price on Ryan Specialty from $63.00 to $56.00 and set an “underweight” rating for the company in a research note on Wednesday, January 7th. Morgan Stanley set a $61.00 target price on Ryan Specialty in a report on Tuesday, December 16th. Finally, The Goldman Sachs Group set a $61.00 price target on Ryan Specialty in a report on Wednesday, January 7th. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Ryan Specialty currently has a consensus rating of “Moderate Buy” and an average price target of $64.19.

Ryan Specialty Stock Down 3.8%

The company has a debt-to-equity ratio of 2.72, a quick ratio of 1.00 and a current ratio of 1.00. The firm has a 50 day simple moving average of $53.86 and a two-hundred day simple moving average of $56.24. The stock has a market cap of $13.25 billion, a P/E ratio of 109.27, a P/E/G ratio of 1.30 and a beta of 0.63.

Ryan Specialty (NYSE:RYAN) last issued its quarterly earnings results on Thursday, October 30th. The company reported $0.47 EPS for the quarter, meeting analysts’ consensus estimates of $0.47. Ryan Specialty had a return on equity of 47.93% and a net margin of 7.61%.The company had revenue of $754.58 million for the quarter, compared to analyst estimates of $742.35 million. During the same period last year, the company earned $0.41 earnings per share. The company’s quarterly revenue was up 24.8% compared to the same quarter last year. Equities research analysts predict that Ryan Specialty Holdings Inc. will post 2.29 earnings per share for the current year.

Ryan Specialty Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, November 25th. Stockholders of record on Tuesday, November 11th were paid a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date of this dividend was Monday, November 10th. Ryan Specialty’s dividend payout ratio is currently 104.35%.

Insider Buying and Selling

In related news, CEO Timothy William Turner sold 129,570 shares of the business’s stock in a transaction that occurred on Friday, December 12th. The stock was sold at an average price of $53.61, for a total transaction of $6,946,247.70. Following the sale, the chief executive officer owned 12,553 shares of the company’s stock, valued at $672,966.33. The trade was a 91.17% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 52.21% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Allspring Global Investments Holdings LLC bought a new stake in shares of Ryan Specialty in the 2nd quarter worth approximately $37,321,000. Sumitomo Mitsui Trust Group Inc. lifted its holdings in shares of Ryan Specialty by 2.5% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,387,108 shares of the company’s stock valued at $78,177,000 after purchasing an additional 33,588 shares during the last quarter. Cooper Investors PTY Ltd. increased its stake in Ryan Specialty by 33.9% in the 3rd quarter. Cooper Investors PTY Ltd. now owns 505,374 shares of the company’s stock worth $28,483,000 after purchasing an additional 127,892 shares in the last quarter. Marshall Wace LLP lifted its stake in Ryan Specialty by 142.1% during the second quarter. Marshall Wace LLP now owns 380,116 shares of the company’s stock valued at $25,844,000 after buying an additional 223,124 shares in the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd boosted its holdings in shares of Ryan Specialty by 56.0% in the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 68,671 shares of the company’s stock worth $3,870,000 after buying an additional 24,656 shares during the period. 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.