Ryan Specialty (NYSE:RYAN) Trading Down 3.3% – Here’s What Happened

Ryan Specialty Holdings, Inc. (NYSE:RYAN)’s stock price was down 3.3% on Monday . The stock traded as low as $69.42 and last traded at $70.12. Approximately 85,744 shares were traded during trading, a decline of 90% from the average daily volume of 861,964 shares. The stock had previously closed at $72.53.

Analyst Ratings Changes

A number of research analysts have issued reports on the stock. Morgan Stanley began coverage on shares of Ryan Specialty in a report on Thursday. They issued an “overweight” rating and a $90.00 price target for the company. The Goldman Sachs Group raised their target price on Ryan Specialty from $64.00 to $72.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 9th. BMO Capital Markets upgraded Ryan Specialty from a “market perform” rating to an “outperform” rating and boosted their price target for the company from $65.00 to $75.00 in a research note on Tuesday, September 24th. UBS Group raised their price objective on Ryan Specialty from $67.00 to $76.00 and gave the stock a “buy” rating in a research note on Tuesday, August 13th. Finally, Bank of America lifted their target price on Ryan Specialty from $75.00 to $84.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. One research analyst has rated the stock with a sell rating, five have given a hold rating and six have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $73.50.

Ryan Specialty Price Performance

The company has a market capitalization of $18.33 billion, a price-to-earnings ratio of 94.19, a P/E/G ratio of 1.63 and a beta of 0.67. The stock has a fifty day simple moving average of $70.99 and a 200-day simple moving average of $64.09. The company has a debt-to-equity ratio of 2.40, a current ratio of 1.01 and a quick ratio of 1.01.

Ryan Specialty (NYSE:RYAN) last announced its quarterly earnings results on Wednesday, October 30th. The company reported $0.41 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.41. Ryan Specialty had a net margin of 10.31% and a return on equity of 47.90%. The firm had revenue of $604.69 million for the quarter, compared to the consensus estimate of $602.04 million. During the same period in the prior year, the firm posted $0.32 earnings per share. The firm’s quarterly revenue was up 20.5% compared to the same quarter last year. On average, equities research analysts anticipate that Ryan Specialty Holdings, Inc. will post 1.82 EPS for the current year.

Ryan Specialty Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, November 26th. Investors of record on Tuesday, November 12th were paid a $0.11 dividend. The ex-dividend date was Tuesday, November 12th. This represents a $0.44 annualized dividend and a dividend yield of 0.63%. Ryan Specialty’s dividend payout ratio is presently 57.14%.

Insiders Place Their Bets

In other news, Director David P. Bolger sold 7,055 shares of the firm’s stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $70.88, for a total value of $500,058.40. Following the transaction, the director now owns 78,149 shares in the company, valued at $5,539,201.12. This trade represents a 8.28 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Mark Stephen Katz sold 14,790 shares of Ryan Specialty stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $71.39, for a total value of $1,055,858.10. Following the completion of the sale, the executive vice president now directly owns 12,386 shares in the company, valued at $884,236.54. This represents a 54.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 11.10% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the company. State Street Corp increased its holdings in shares of Ryan Specialty by 1.5% in the third quarter. State Street Corp now owns 3,273,093 shares of the company’s stock valued at $217,301,000 after purchasing an additional 49,198 shares during the last quarter. Janus Henderson Group PLC increased its stake in shares of Ryan Specialty by 0.4% in the 3rd quarter. Janus Henderson Group PLC now owns 3,148,916 shares of the company’s stock worth $209,058,000 after acquiring an additional 13,986 shares during the last quarter. Blair William & Co. IL raised its holdings in shares of Ryan Specialty by 3.4% during the 2nd quarter. Blair William & Co. IL now owns 2,866,003 shares of the company’s stock worth $165,970,000 after acquiring an additional 94,663 shares during the period. Barclays PLC boosted its position in shares of Ryan Specialty by 1.1% during the 3rd quarter. Barclays PLC now owns 1,641,743 shares of the company’s stock valued at $108,994,000 after acquiring an additional 17,267 shares during the last quarter. Finally, Eagle Asset Management Inc. grew its holdings in shares of Ryan Specialty by 32.1% in the third quarter. Eagle Asset Management Inc. now owns 1,380,510 shares of the company’s stock valued at $98,555,000 after purchasing an additional 335,180 shares during the period. 84.82% of the stock is owned by institutional investors and hedge funds.

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.