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

Ryan Specialty Holdings, Inc. (NYSE:RYAN) declared a quarterly dividend on Wednesday, October 30th, Zacks reports. Shareholders of record on Tuesday, November 12th will be paid a dividend of 0.11 per share on Tuesday, November 26th. This represents a $0.44 dividend on an annualized basis and a yield of 0.67%. The ex-dividend date is Tuesday, November 12th.

Ryan Specialty has a payout ratio of 19.8% indicating that its dividend is sufficiently covered by earnings. Analysts expect Ryan Specialty to earn $2.22 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 19.8%.

Ryan Specialty Trading Up 0.2 %

Shares of Ryan Specialty stock traded up $0.12 on Friday, hitting $65.99. 26,441 shares of the company traded hands, compared to its average volume of 874,514. Ryan Specialty has a 52 week low of $41.49 and a 52 week high of $73.10. The company has a market cap of $17.25 billion, a PE ratio of 85.59, a PEG ratio of 1.56 and a beta of 0.62. The stock’s 50 day moving average price is $66.99 and its 200-day moving average price is $60.29. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 1.81.

Ryan Specialty (NYSE:RYAN) last issued its earnings results on Wednesday, October 30th. The company reported $0.41 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.41. The business had revenue of $604.69 million during the quarter, compared to analyst estimates of $602.04 million. Ryan Specialty had a return on equity of 48.99% and a net margin of 10.31%. Ryan Specialty’s revenue was up 20.5% on a year-over-year basis. During the same period in the previous year, the company posted $0.32 EPS. Equities research analysts predict that Ryan Specialty will post 1.81 EPS for the current year.

Insider Transactions at Ryan Specialty

In other news, EVP Jeremiah Rawlins Bickham sold 26,233 shares of the stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $65.18, for a total value of $1,709,866.94. Following the completion of the sale, the executive vice president now directly owns 24,845 shares in the company, valued at $1,619,397.10. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other Ryan Specialty news, EVP Jeremiah Rawlins Bickham sold 26,233 shares of the company’s stock in a transaction on Wednesday, August 14th. The stock was sold at an average price of $65.18, for a total value of $1,709,866.94. Following the completion of the sale, the executive vice president now directly owns 24,845 shares in the company, valued at $1,619,397.10. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, President Timothy William Turner sold 2,000,000 shares of Ryan Specialty stock in a transaction on Friday, August 9th. The stock was sold at an average price of $62.45, for a total value of $124,900,000.00. Following the transaction, the president now owns 8,095 shares in the company, valued at approximately $505,532.75. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 2,107,136 shares of company stock valued at $131,860,032 over the last ninety days. Insiders own 11.10% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently issued reports on the company. JPMorgan Chase & Co. raised their price objective on Ryan Specialty from $54.00 to $56.00 and gave the stock an “underweight” rating in a research note on Friday, August 2nd. BMO Capital Markets raised shares of Ryan Specialty from a “market perform” rating to an “outperform” rating and upped their price objective for the company from $65.00 to $75.00 in a report on Tuesday, September 24th. Barclays assumed coverage on shares of Ryan Specialty in a report on Wednesday, September 4th. They issued an “overweight” rating and a $76.00 price target on the stock. Citigroup raised their target price on Ryan Specialty from $56.00 to $62.00 and gave the stock a “neutral” rating in a report on Tuesday, July 23rd. Finally, The Goldman Sachs Group boosted their price target on Ryan Specialty from $64.00 to $72.00 and gave the company a “neutral” rating in a report on Wednesday, October 9th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $70.33.

About Ryan Specialty

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.