Ryan Specialty (NYSE:RYAN) Shares Down 5.3% – Time to Sell?
by Amy Steele · The Cerbat GemShares of Ryan Specialty Holdings Inc. (NYSE:RYAN – Get Free Report) dropped 5.3% on Wednesday . The stock traded as low as $36.72 and last traded at $36.2070. Approximately 243,463 shares traded hands during mid-day trading, a decline of 88% from the average daily volume of 2,009,015 shares. The stock had previously closed at $38.25.
Analyst Ratings Changes
Several brokerages have recently issued reports on RYAN. Weiss Ratings cut shares of Ryan Specialty from a “hold (c-)” rating to a “sell (d+)” rating in a report on Thursday, February 5th. BMO Capital Markets cut shares of Ryan Specialty from an “outperform” rating to a “market perform” rating and dropped their price target for the company from $66.00 to $43.00 in a research report on Wednesday, February 25th. Bank of America cut their price target on shares of Ryan Specialty from $70.00 to $68.00 and set a “buy” rating on the stock in a report on Tuesday, April 14th. Keefe, Bruyette & Woods decreased their price objective on shares of Ryan Specialty from $55.00 to $49.00 and set an “outperform” rating on the stock in a research report on Tuesday, April 7th. Finally, The Goldman Sachs Group dropped their target price on shares of Ryan Specialty from $57.00 to $49.00 and set a “buy” rating for the company in a report on Wednesday, April 8th. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, five have given a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $51.35.
Check Out Our Latest Stock Report on Ryan Specialty
Ryan Specialty Trading Down 2.4%
The company has a debt-to-equity ratio of 2.62, a current ratio of 0.98 and a quick ratio of 0.98. The stock’s 50 day moving average is $36.57 and its 200-day moving average is $47.23. The company has a market capitalization of $9.36 billion, a P/E ratio of 84.32, a P/E/G ratio of 0.98 and a beta of 0.71.
Ryan Specialty (NYSE:RYAN – Get Free Report) last posted its earnings results on Thursday, February 12th. The company reported $0.45 earnings per share for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.05). Ryan Specialty had a return on equity of 46.41% and a net margin of 7.02%.The firm had revenue of $751.21 million for the quarter, compared to analysts’ expectations of $777.43 million. During the same quarter last year, the company posted $0.45 EPS. The firm’s revenue was up 13.2% on a year-over-year basis. As a group, equities research analysts anticipate that Ryan Specialty Holdings Inc. will post 2.24 earnings per share for the current year.
Ryan Specialty Increases Dividend
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 10th. Shareholders of record on Tuesday, February 24th were issued a $0.13 dividend. 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 dividend payout ratio is currently 123.81%.
Insider Buying and Selling
In other Ryan Specialty news, Director Patrick G. Ryan, Jr. bought 25,500 shares of the company’s stock in a transaction dated Monday, February 23rd. The shares were purchased at an average price of $39.96 per share, for a total transaction of $1,018,980.00. Following the acquisition, the director owned 428,295 shares in the company, valued at approximately $17,114,668.20. This represents a 6.33% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 52.03% of the company’s stock.
Institutional Investors Weigh In On Ryan Specialty
Several hedge funds have recently bought and sold shares of RYAN. Los Angeles Capital Management LLC bought a new position in shares of Ryan Specialty during the fourth quarter valued at approximately $25,000. Advisory Services Network LLC bought a new stake in shares of Ryan Specialty in the 3rd quarter worth approximately $28,000. SBI Securities Co. Ltd. grew its stake in shares of Ryan Specialty by 6,322.2% in the 4th quarter. SBI Securities Co. Ltd. now owns 578 shares of the company’s stock worth $30,000 after buying an additional 569 shares during the last quarter. Fifth Third Bancorp grew its stake in shares of Ryan Specialty by 65.4% in the 3rd quarter. Fifth Third Bancorp now owns 612 shares of the company’s stock worth $34,000 after buying an additional 242 shares during the last quarter. Finally, Whittier Trust Co. of Nevada Inc. increased its position in Ryan Specialty by 83.7% during the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 599 shares of the company’s stock valued at $35,000 after buying an additional 273 shares in the last quarter. Institutional investors own 84.82% of the company’s stock.
Ryan Specialty Company Profile
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.