Ryan Specialty Holdings, Inc. (NYSE:RYAN) Plans Dividend Increase – $0.12 Per Share

Ryan Specialty Holdings, Inc. (NYSE:RYAN) declared a quarterly dividend on Thursday, February 20th, Wall Street Journal reports. Stockholders of record on Tuesday, March 4th will be paid a dividend of 0.12 per share on Tuesday, March 18th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.69%. The ex-dividend date of this dividend is Tuesday, March 4th. This is a positive change from Ryan Specialty’s previous quarterly dividend of $0.11.

Ryan Specialty has a payout ratio of 18.3% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Ryan Specialty to earn $2.77 per share next year, which means the company should continue to be able to cover its $0.48 annual dividend with an expected future payout ratio of 17.3%.

Ryan Specialty Trading Up 0.0 %

Shares of Ryan Specialty stock opened at $70.07 on Friday. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 2.40. The company’s 50-day simple moving average is $66.02 and its 200-day simple moving average is $67.41. Ryan Specialty has a 52-week low of $48.48 and a 52-week high of $75.97. The firm has a market cap of $18.35 billion, a price-to-earnings ratio of 101.54, a price-to-earnings-growth ratio of 1.19 and a beta of 0.72.

Ryan Specialty (NYSE:RYAN) last released its earnings results on Thursday, February 20th. The company reported $0.45 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.47 by ($0.02). Ryan Specialty had a return on equity of 48.01% and a net margin of 9.14%. The business had revenue of $663.53 million for the quarter, compared to analyst estimates of $658.80 million. As a group, equities research analysts anticipate that Ryan Specialty will post 2.29 earnings per share for the current year.

Analysts Set New Price Targets

RYAN has been the topic of a number of recent analyst reports. Wells Fargo & Company upped their price target on shares of Ryan Specialty from $64.00 to $69.00 and gave the stock an “equal weight” rating in a research note on Friday, February 21st. Morgan Stanley assumed coverage on shares of Ryan Specialty in a research report on Thursday, December 5th. They set an “overweight” rating and a $90.00 target price on the stock. Royal Bank of Canada lowered their target price on shares of Ryan Specialty from $73.00 to $72.00 and set a “sector perform” rating on the stock in a research report on Friday, February 21st. Barclays upped their price target on Ryan Specialty from $76.00 to $88.00 and gave the stock an “overweight” rating in a report on Thursday, November 21st. Finally, Keefe, Bruyette & Woods lowered their price target on Ryan Specialty from $77.00 to $76.00 and set an “outperform” rating on the stock in a report on Friday, February 21st. One research analyst has rated the stock with a sell rating, six have issued a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $75.27.

Insider Buying and Selling at Ryan Specialty

In related news, Director Nicholas Dominic Cortezi sold 35,000 shares of Ryan Specialty stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $67.39, for a total transaction of $2,358,650.00. Following the completion of the sale, the director now owns 65,100 shares in the company, valued at approximately $4,387,089. This trade represents a 34.97 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In the last 90 days, insiders have sold 316,451 shares of company stock worth $20,907,793. 11.10% of the stock is owned by insiders.

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.