Ryan Specialty (NYSE:RYAN) Rating Increased to Hold at Mizuho

Mizuho upgraded shares of Ryan Specialty (NYSE:RYAN) to a hold rating in a research note released on Monday,Zacks.com reports.

RYAN has been the topic of a number of other research reports. JPMorgan Chase & Co. dropped their price objective on Ryan Specialty from $64.00 to $63.00 and set an “underweight” rating on the stock in a research report on Thursday, October 9th. Morgan Stanley set a $61.00 price objective on shares of Ryan Specialty in a research report on Tuesday. TD Cowen decreased their target price on shares of Ryan Specialty from $89.00 to $76.00 and set a “buy” rating for the company in a research report on Wednesday, November 26th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Ryan Specialty in a report on Wednesday, October 8th. Finally, Cowen reissued a “buy” rating on shares of Ryan Specialty in a research report on Wednesday, November 26th. One investment 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. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $65.88.

Ryan Specialty Stock Up 1.4%

Shares of RYAN stock traded up $0.75 during mid-day trading on Monday, hitting $53.75. The stock had a trading volume of 32,366 shares, compared to its average volume of 1,240,398. The firm has a market capitalization of $14.18 billion, a P/E ratio of 116.87, a price-to-earnings-growth ratio of 1.52 and a beta of 0.62. The company has a debt-to-equity ratio of 2.72, a current ratio of 1.00 and a quick ratio of 1.00. Ryan Specialty has a 12-month low of $50.08 and a 12-month high of $77.16. The firm’s 50-day moving average is $55.22 and its two-hundred day moving average is $59.01.

Ryan Specialty (NYSE:RYAN) last released its quarterly earnings data on Thursday, October 30th. The company reported $0.47 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.47. The firm had revenue of $754.58 million for the quarter, compared to the consensus estimate of $742.35 million. Ryan Specialty had a net margin of 7.61% and a return on equity of 47.93%. The company’s quarterly revenue was up 24.8% on a year-over-year basis. During the same period last year, the firm earned $0.41 earnings per share. On average, analysts predict that Ryan Specialty will post 2.29 earnings per share for the current fiscal year.

Ryan Specialty Announces Dividend

The company also recently disclosed 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 annualized dividend and a dividend yield of 0.9%. The ex-dividend date was Monday, November 10th. Ryan Specialty’s dividend payout ratio (DPR) is presently 104.35%.

Insider Buying and Selling

In other news, CEO Timothy William Turner sold 129,570 shares of the company’s stock in a transaction on Friday, December 12th. The shares were sold at an average price of $53.61, for a total value of $6,946,247.70. Following the sale, the chief executive officer directly owned 12,553 shares of the company’s stock, valued at $672,966.33. This represents a 91.17% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 52.21% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Ryan Specialty

Several hedge funds have recently added to or reduced their stakes in the business. Principal Financial Group Inc. lifted its holdings in shares of Ryan Specialty by 21.1% in the 3rd quarter. Principal Financial Group Inc. now owns 4,392,717 shares of the company’s stock valued at $247,576,000 after buying an additional 765,428 shares during the period. Montrusco Bolton Investments Inc. increased its holdings in shares of Ryan Specialty by 23.7% during the 3rd quarter. Montrusco Bolton Investments Inc. now owns 3,974,869 shares of the company’s stock valued at $217,745,000 after purchasing an additional 762,638 shares in the last quarter. Champlain Investment Partners LLC lifted its stake in shares of Ryan Specialty by 76.9% in the 3rd quarter. Champlain Investment Partners LLC now owns 3,066,011 shares of the company’s stock valued at $172,800,000 after purchasing an additional 1,332,773 shares during the period. Blair William & Co. IL boosted its holdings in Ryan Specialty by 1.1% during the second quarter. Blair William & Co. IL now owns 2,814,195 shares of the company’s stock worth $191,337,000 after buying an additional 29,279 shares in the last quarter. Finally, T. Rowe Price Investment Management Inc. increased its holdings in Ryan Specialty by 0.5% in the first quarter. T. Rowe Price Investment Management Inc. now owns 2,378,573 shares of the company’s stock valued at $175,706,000 after buying an additional 12,573 shares in the last quarter. 84.82% of the stock is owned by hedge funds and other institutional investors.

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.