Ryan Specialty Holdings, Inc. (NYSE:RYAN) Increases Dividend to $0.12 Per Share

Ryan Specialty Holdings, Inc. (NYSE:RYAN) declared a quarterly dividend on Friday, February 21st, 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 0.73%. The ex-dividend date is Tuesday, March 4th. This is an increase from Ryan Specialty’s previous quarterly dividend of $0.11.

Ryan Specialty has a dividend payout ratio of 16.4% indicating that its dividend is sufficiently covered by earnings. Analysts expect Ryan Specialty to earn $2.29 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 19.2%.

Ryan Specialty Price Performance

Shares of RYAN stock traded down $3.05 during mid-day trading on Friday, reaching $65.55. The stock had a trading volume of 1,860,171 shares, compared to its average volume of 972,088. Ryan Specialty has a 12-month low of $45.72 and a 12-month high of $75.97. The company has a market cap of $17.16 billion, a P/E ratio of 85.24, a price-to-earnings-growth ratio of 1.21 and a beta of 0.72. The business has a 50-day simple moving average of $65.61 and a 200 day simple moving average of $67.26. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 2.40.

Ryan Specialty (NYSE:RYAN) last announced its quarterly earnings results on Thursday, February 20th. The company reported $0.45 earnings per share for the quarter, missing analysts’ consensus estimates of $0.47 by ($0.02). Ryan Specialty had a net margin of 10.31% and a return on equity of 47.90%. The firm had revenue of $663.53 million during the quarter, compared to analysts’ expectations of $658.80 million. On average, sell-side analysts anticipate that Ryan Specialty will post 1.82 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the company. Wells Fargo & Company lifted their price objective on Ryan Specialty from $64.00 to $69.00 and gave the stock an “equal weight” rating in a research report on Friday. Royal Bank of Canada dropped their price objective on Ryan Specialty from $73.00 to $72.00 and set a “sector perform” rating for the company in a research report on Friday. Morgan Stanley assumed coverage on Ryan Specialty in a research report on Thursday, December 5th. They set an “overweight” rating and a $90.00 price objective for the company. Barclays lifted their price objective on Ryan Specialty from $76.00 to $88.00 and gave the stock an “overweight” rating in a research report on Thursday, November 21st. Finally, Keefe, Bruyette & Woods dropped their price objective on Ryan Specialty from $77.00 to $76.00 and set an “outperform” rating for the company in a research report on Friday. One research analyst has rated the stock with a sell rating, six have given a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $74.55.

Insider Buying and Selling at Ryan Specialty

In other news, Director Nicholas Dominic Cortezi sold 35,000 shares of Ryan Specialty stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $66.71, for a total value of $2,334,850.00. Following the transaction, the director now directly owns 60,200 shares of the company’s stock, valued at $4,015,942. The trade was a 36.76 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Insiders sold 316,451 shares of company stock worth $20,907,793 in the last 90 days. 11.10% of the stock is owned by company insiders.

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.