Ryan Specialty (NYSE:RYAN) Reaches New 12-Month Low After Analyst Downgrade

Shares of Ryan Specialty Holdings Inc. (NYSE:RYAN) reached a new 52-week low during mid-day trading on Tuesday after Citigroup lowered their price target on the stock from $60.00 to $55.00. Citigroup currently has a buy rating on the stock. Ryan Specialty traded as low as $33.89 and last traded at $34.0850, with a volume of 99471 shares. The stock had previously closed at $34.59.

A number of other research analysts also recently weighed in on the company. JPMorgan Chase & Co. reduced their target price on Ryan Specialty from $63.00 to $56.00 and set an “underweight” rating on the stock in a report on Wednesday, January 7th. Piper Sandler reduced their price target on Ryan Specialty from $58.00 to $43.00 and set a “neutral” rating on the stock in a research note on Friday, February 13th. Cantor Fitzgerald lowered their price objective on Ryan Specialty from $52.00 to $45.00 and set a “neutral” rating for the company in a research report on Tuesday, February 17th. Royal Bank Of Canada assumed coverage on shares of Ryan Specialty in a report on Tuesday, March 17th. They set an “outperform” rating and a $45.00 target price on the stock. Finally, UBS Group reduced their target price on shares of Ryan Specialty from $71.00 to $65.00 and set a “buy” rating on the stock in a research report on Tuesday, February 17th. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, five have assigned a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $54.50.

Insider Transactions at Ryan Specialty

In other news, Director Patrick G. Ryan, Jr. acquired 25,500 shares of the business’s stock in a transaction that occurred on Monday, February 23rd. The shares were bought at an average cost of $39.96 per share, with a total value of $1,018,980.00. Following the transaction, the director owned 428,295 shares of the company’s stock, valued at $17,114,668.20. This trade represents a 6.33% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. 52.21% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Ryan Specialty

A number of institutional investors have recently made changes to their positions in the company. Vulcan Value Partners LLC raised its holdings in Ryan Specialty by 631.7% in the 4th quarter. Vulcan Value Partners LLC now owns 4,621,079 shares of the company’s stock worth $238,536,000 after acquiring an additional 3,989,502 shares during the last quarter. T. Rowe Price Investment Management Inc. increased its holdings in shares of Ryan Specialty by 79.9% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 7,552,002 shares of the company’s stock worth $389,910,000 after purchasing an additional 3,353,926 shares in the last quarter. Independent Franchise Partners LLP purchased a new position in shares of Ryan Specialty in the third quarter worth $95,798,000. Adage Capital Partners GP L.L.C. lifted its holdings in shares of Ryan Specialty by 1,510.0% during the fourth quarter. Adage Capital Partners GP L.L.C. now owns 1,610,000 shares of the company’s stock valued at $83,124,000 after purchasing an additional 1,510,000 shares in the last quarter. Finally, Champlain Investment Partners LLC boosted its position in shares of Ryan Specialty by 76.9% during the third quarter. Champlain Investment Partners LLC now owns 3,066,011 shares of the company’s stock valued at $172,800,000 after buying an additional 1,332,773 shares during the last quarter. Hedge funds and other institutional investors own 84.82% of the company’s stock.

Ryan Specialty Price Performance

The firm has a fifty day moving average of $42.73 and a 200 day moving average of $50.24. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 2.62. The company has a market capitalization of $8.99 billion, a P/E ratio of 80.97, a P/E/G ratio of 0.91 and a beta of 0.66.

Ryan Specialty (NYSE:RYAN) last posted its earnings results on Thursday, February 12th. The company reported $0.45 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.50 by ($0.05). The company had revenue of $751.21 million for the quarter, compared to the consensus estimate of $777.43 million. Ryan Specialty had a net margin of 7.02% and a return on equity of 46.41%. Ryan Specialty’s revenue was up 13.2% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.45 EPS. On average, equities research analysts anticipate that Ryan Specialty Holdings Inc. will post 2.29 EPS for the current year.

Ryan Specialty Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 10th. Investors of record on Tuesday, February 24th were given a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a yield of 1.5%. This is a positive change from Ryan Specialty’s previous quarterly dividend of $0.12. The ex-dividend date was Tuesday, February 24th. Ryan Specialty’s payout ratio is currently 123.81%.

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.