Ryan Specialty (NYSE:RYAN) Trading Down 4.8% – Time to Sell?

Ryan Specialty Holdings Inc. (NYSE:RYAN) shares were down 4.8% during mid-day trading on Tuesday . The company traded as low as $38.41 and last traded at $38.1210. 192,162 shares changed hands during mid-day trading, a decline of 91% from the average daily volume of 2,216,610 shares. The stock had previously closed at $40.06.

Analysts Set New Price Targets

Several brokerages have recently commented on RYAN. Piper Sandler lifted their target price on Ryan Specialty from $44.00 to $48.00 and gave the stock a “neutral” rating in a research report on Friday, July 31st. Atlantic Securities set a $69.00 price target on shares of Ryan Specialty in a research report on Wednesday, July 15th. Cantor Fitzgerald lifted their price target on shares of Ryan Specialty from $34.00 to $41.00 and gave the company a “neutral” rating in a report on Monday, August 3rd. Zacks Research raised shares of Ryan Specialty from a “strong sell” rating to a “hold” rating in a research report on Tuesday, June 30th. Finally, UBS Group raised their target price on shares of Ryan Specialty from $50.00 to $55.00 and gave the stock a “buy” rating in a report on Monday, August 3rd. Eight equities research analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Ryan Specialty has an average rating of “Hold” and an average price target of $52.97.

Ryan Specialty Stock Performance

The company has a debt-to-equity ratio of 3.51, a current ratio of 1.00 and a quick ratio of 1.00. The stock has a market cap of $9.56 billion, a P/E ratio of 51.94, a PEG ratio of 0.80 and a beta of 0.57. The company has a fifty day moving average of $42.12 and a 200 day moving average of $37.56.

Ryan Specialty (NYSE:RYAN) last issued its quarterly earnings results on Thursday, July 30th. The company reported $0.74 earnings per share for the quarter, beating analysts’ consensus estimates of $0.60 by $0.14. Ryan Specialty had a return on equity of 43.97% and a net margin of 7.55%.The business had revenue of $916.65 million for the quarter, compared to the consensus estimate of $873.93 million. During the same quarter in the previous year, the company posted $0.66 earnings per share. Ryan Specialty’s revenue for the quarter was up 7.2% compared to the same quarter last year. On average, equities analysts predict that Ryan Specialty Holdings Inc. will post 2.18 earnings per share for the current fiscal year.

Ryan Specialty Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, August 25th. Shareholders of record on Tuesday, August 11th were given a $0.13 dividend. The ex-dividend date of this dividend was Tuesday, August 11th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.4%. Ryan Specialty’s payout ratio is currently 72.22%.

Ryan Specialty declared that its board has authorized a share buyback program on Tuesday, May 26th that permits the company to buyback $300.00 million in shares. This buyback authorization permits the company to buy up to 3.5% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s board of directors believes its shares are undervalued.

Institutional Investors Weigh In On Ryan Specialty

Hedge funds have recently modified their holdings of the business. WINTON GROUP Ltd bought a new stake in Ryan Specialty in the 2nd quarter valued at $351,000. Integrated Wealth Concepts LLC bought a new stake in shares of Ryan Specialty in the 2nd quarter valued at approximately $73,000. Allworth Financial LP grew its stake in Ryan Specialty by 70.0% during the second quarter. Allworth Financial LP now owns 787 shares of the company’s stock worth $30,000 after buying an additional 324 shares during the last quarter. Vulcan Value Partners LLC increased its holdings in shares of Ryan Specialty by 20.0% during the second quarter. Vulcan Value Partners LLC now owns 7,912,669 shares of the company’s stock worth $298,782,000 after buying an additional 1,317,334 shares in the last quarter. Finally, Arizona State Retirement System raised its stake in shares of Ryan Specialty by 1.1% in the second quarter. Arizona State Retirement System now owns 30,415 shares of the company’s stock valued at $1,148,000 after acquiring an additional 342 shares during the last quarter. 84.82% of the stock is owned by institutional investors.

About Ryan Specialty

Ryan Specialty Holdings, Inc is a global specialty insurance organization that provides distribution, underwriting and product-development solutions for complex, hard-to-place risks. The company primarily serves insurance brokers, agents, carriers and other market participants that require specialized expertise, capacity and tailored coverage.

Its businesses include wholesale brokerage, managing general underwriting and delegated underwriting operations, as well as specialty insurance products and services.