Ryan Specialty Holdings Inc. (NYSE:RYAN) Short Interest Update

Ryan Specialty Holdings Inc. (NYSE:RYAN) was the recipient of a large increase in short interest during the month of March. As of March 31st, there was short interest totaling 9,706,908 shares, an increase of 37.8% from the March 15th total of 7,043,522 shares. Based on an average trading volume of 1,969,312 shares, the days-to-cover ratio is currently 4.9 days. Approximately 7.7% of the company’s stock are sold short.

Ryan Specialty Trading Up 2.8%

Shares of Ryan Specialty stock opened at $37.41 on Friday. Ryan Specialty has a 12-month low of $31.50 and a 12-month high of $72.50. The stock has a market cap of $9.88 billion, a P/E ratio of 89.08, a P/E/G ratio of 0.98 and a beta of 0.71. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 2.62. The business’s 50 day moving average is $37.33 and its 200-day moving average is $47.89.

Ryan Specialty (NYSE:RYAN) last posted its quarterly 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 net margin of 7.02% and a return on equity of 46.41%. The business had revenue of $751.21 million during the quarter, compared to the consensus estimate 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. Equities research analysts predict that Ryan Specialty will post 2.29 earnings per share for the current fiscal year.

Ryan Specialty Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 10th. Investors of record on Tuesday, February 24th were paid a $0.13 dividend. This is a boost from Ryan Specialty’s previous quarterly dividend of $0.12. The ex-dividend date was Tuesday, February 24th. This represents a $0.52 dividend on an annualized basis and a yield of 1.4%. Ryan Specialty’s dividend payout ratio (DPR) is currently 123.81%.

Insiders Place Their Bets

In other news, Director Patrick G. Ryan, Jr. purchased 25,500 shares of Ryan Specialty stock in a transaction on Monday, February 23rd. The stock was purchased at an average price of $39.96 per share, with a total value of $1,018,980.00. Following the transaction, the director directly owned 428,295 shares in the company, valued at $17,114,668.20. The trade was a 6.33% increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this link. 52.03% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Ryan Specialty

Large investors have recently added to or reduced their stakes in the business. Westview Management dba Westview Investment Advisors bought a new stake in Ryan Specialty in the 4th quarter valued at $2,082,000. Beck Mack & Oliver LLC bought a new stake in Ryan Specialty in the 3rd quarter valued at $2,818,000. JPMorgan Chase & Co. raised its stake in Ryan Specialty by 149.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 421,330 shares of the company’s stock valued at $23,746,000 after acquiring an additional 252,582 shares during the period. Geneva Capital Management LLC raised its stake in Ryan Specialty by 11.2% in the 3rd quarter. Geneva Capital Management LLC now owns 535,742 shares of the company’s stock valued at $30,194,000 after acquiring an additional 53,810 shares during the period. Finally, TD Asset Management Inc raised its stake in Ryan Specialty by 2,181.8% in the 3rd quarter. TD Asset Management Inc now owns 205,133 shares of the company’s stock valued at $11,561,000 after acquiring an additional 196,143 shares during the period. Institutional investors own 84.82% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have weighed in on RYAN. Barclays reduced their price target on Ryan Specialty from $45.00 to $41.00 and set an “overweight” rating for the company in a research report on Wednesday, April 8th. Keefe, Bruyette & Woods dropped their price objective on Ryan Specialty from $55.00 to $49.00 and set an “outperform” rating on the stock in a research note on Tuesday, April 7th. Morgan Stanley dropped their price objective on Ryan Specialty from $55.00 to $50.00 and set an “overweight” rating on the stock in a research note on Monday, April 6th. Zacks Research cut Ryan Specialty from a “hold” rating to a “strong sell” rating in a research note on Tuesday, February 24th. Finally, Cantor Fitzgerald dropped their price objective on Ryan Specialty from $45.00 to $40.00 and set a “neutral” rating on the stock in a research note on Thursday, April 9th. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, five have issued a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $51.35.

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.