Ryan Specialty Holdings Inc. (NYSE:RYAN) Receives $53.86 Consensus Price Target from Brokerages

Ryan Specialty Holdings Inc. (NYSE:RYAN) has been assigned an average recommendation of “Hold” from the nineteen brokerages that are covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, ten have assigned a hold recommendation and eight have given a buy recommendation to the company. The average 1 year price target among brokers that have covered the stock in the last year is $53.8611.

A number of equities research analysts recently weighed in on RYAN shares. Atlantic Securities set a $69.00 price objective on Ryan Specialty in a research report on Wednesday, July 15th. Weiss Ratings upgraded Ryan Specialty from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Thursday, August 13th. Cantor Fitzgerald lifted their price target on Ryan Specialty from $34.00 to $41.00 and gave the company a “neutral” rating in a research note on Monday, August 3rd. Piper Sandler lifted their price target on Ryan Specialty from $44.00 to $48.00 and gave the company a “neutral” rating in a research note on Friday, July 31st. Finally, UBS Group boosted their price target on Ryan Specialty from $50.00 to $55.00 and gave the stock a “buy” rating in a report on Monday, August 3rd.

Ryan Specialty Stock Performance

Shares of Ryan Specialty stock opened at $38.14 on Thursday. Ryan Specialty has a fifty-two week low of $29.28 and a fifty-two week high of $59.19. The company has a debt-to-equity ratio of 3.51, a current ratio of 1.00 and a quick ratio of 1.00. The firm has a market capitalization of $9.76 billion, a P/E ratio of 52.97, a P/E/G ratio of 0.76 and a beta of 0.57. The company’s 50 day moving average price is $42.27 and its two-hundred day moving average price is $37.54.

Ryan Specialty (NYSE:RYAN) last posted its earnings results on Thursday, July 30th. The company reported $0.74 earnings per share for the quarter, topping analysts’ consensus estimates of $0.60 by $0.14. The firm had revenue of $916.65 million for the quarter, compared to analysts’ expectations of $873.93 million. Ryan Specialty had a net margin of 7.55% and a return on equity of 43.97%. The company’s revenue was up 7.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.66 earnings per share. On average, equities analysts forecast that Ryan Specialty will post 2.18 earnings per share for the current fiscal year.

Ryan Specialty announced that its board has authorized a share buyback program on Tuesday, May 26th that allows the company to buyback $300.00 million in outstanding shares. This buyback authorization allows the company to purchase up to 3.5% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s board of directors believes its stock is undervalued.

Ryan Specialty Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, August 25th. Investors of record on Tuesday, August 11th were given a dividend of $0.13 per share. The ex-dividend date was Tuesday, August 11th. This represents a $0.52 annualized dividend and a yield of 1.4%. Ryan Specialty’s dividend payout ratio (DPR) is currently 72.22%.

Hedge Funds Weigh In On Ryan Specialty

Several large investors have recently modified their holdings of the business. Royal Bank of Canada increased its holdings in Ryan Specialty by 10.6% in the first quarter. Royal Bank of Canada now owns 59,639 shares of the company’s stock valued at $4,406,000 after purchasing an additional 5,739 shares during the period. AQR Capital Management LLC lifted its holdings in Ryan Specialty by 25.1% during the 1st quarter. AQR Capital Management LLC now owns 4,972 shares of the company’s stock worth $367,000 after buying an additional 998 shares during the period. Goldman Sachs Group Inc. lifted its holdings in Ryan Specialty by 46.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 376,154 shares of the company’s stock worth $27,787,000 after buying an additional 119,055 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in shares of Ryan Specialty by 11.3% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 332,823 shares of the company’s stock valued at $24,586,000 after buying an additional 33,667 shares during the last quarter. Finally, Creative Planning grew its position in shares of 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 buying an additional 613 shares during the last quarter. Institutional investors own 84.82% of the company’s stock.

About Ryan Specialty

Ryan Specialty Holdings, Inc is a global specialty insurance organization that provides distribution, underwriting and product-development solutions for complex, hard-to-place risks. The company primarily serves insurance brokers, agents, carriers and other market participants that require specialized expertise, capacity and tailored coverage.

Its businesses include wholesale brokerage, managing general underwriting and delegated underwriting operations, as well as specialty insurance products and services.