Ryan Specialty (NYSE:RYAN) Shares Gap Down – Should You Sell?

Ryan Specialty Holdings Inc. (NYSE:RYAN)’s share price gapped down prior to trading on Tuesday. The stock had previously closed at $44.47, but opened at $42.92. Ryan Specialty shares last traded at $42.2860, with a volume of 307,090 shares.

Wall Street Analyst Weigh In

A number of research firms have recently commented on RYAN. Piper Sandler cut their price target on shares of Ryan Specialty from $48.00 to $40.00 and set a “neutral” rating on the stock in a report on Tuesday, October 6th. Weiss Ratings upgraded shares of Ryan Specialty from a “hold (c-)” rating to a “hold (c)” rating in a report on Friday, September 18th. Cantor Fitzgerald boosted their price objective on shares of Ryan Specialty from $34.00 to $41.00 and gave the stock a “neutral” rating in a report on Monday, August 3rd. Barclays upped their price objective on Ryan Specialty from $46.00 to $48.00 and gave the company an “overweight” rating in a research report on Friday, July 31st. Finally, Keefe, Bruyette & Woods increased their target price on Ryan Specialty from $48.00 to $54.00 and gave the company an “outperform” rating in a research note on Friday, July 31st. Eight research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $52.21.

Ryan Specialty Trading Down 5.6%

The stock has a 50-day simple moving average of $40.35 and a two-hundred day simple moving average of $39.32. The company has a debt-to-equity ratio of 3.51, a quick ratio of 1.00 and a current ratio of 1.00. The firm has a market cap of $10.74 billion, a PE ratio of 58.38, a price-to-earnings-growth ratio of 0.90 and a beta of 0.61.

Ryan Specialty (NYSE:RYAN) last announced its quarterly earnings results on Thursday, July 30th. The company reported $0.74 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.60 by $0.14. The firm had revenue of $916.65 million for the quarter, compared to the consensus estimate of $873.93 million. Ryan Specialty had a net margin of 7.55% and a return on equity of 43.97%. The business’s quarterly revenue was up 7.2% compared to the same quarter last year. During the same quarter last year, the firm posted $0.66 EPS. As a group, sell-side analysts anticipate that Ryan Specialty Holdings Inc. will post 2.17 EPS for the current year.

Ryan Specialty Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, August 25th. Stockholders of record on Tuesday, August 11th were issued a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a dividend yield of 1.2%. The ex-dividend date of this dividend was Tuesday, August 11th. Ryan Specialty’s payout ratio is presently 72.22%.

Institutional Investors Weigh In On Ryan Specialty

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Compass Ion Advisors LLC purchased a new stake in Ryan Specialty during the 3rd quarter valued at $297,000. Signaturefd LLC lifted its holdings in shares of Ryan Specialty by 12.1% during the 3rd quarter. Signaturefd LLC now owns 5,450 shares of the company’s stock valued at $202,000 after buying an additional 587 shares during the period. Fifth Third Wealth Advisors LLC bought a new position in shares of Ryan Specialty during the 3rd quarter valued at $312,000. Inspire Investing LLC boosted its stake in shares of Ryan Specialty by 7.5% in the 3rd quarter. Inspire Investing LLC now owns 14,233 shares of the company’s stock worth $527,000 after buying an additional 989 shares during the last quarter. Finally, TD Waterhouse Canada Inc. boosted its stake in shares of Ryan Specialty by 4,189.2% in the 3rd quarter. TD Waterhouse Canada Inc. now owns 5,576 shares of the company’s stock worth $214,000 after buying an additional 5,446 shares during the last quarter. Hedge funds and other institutional investors own 84.82% of the company’s stock.

About Ryan Specialty

Ryan Specialty Holdings, Inc is a specialty insurance services company that provides wholesale brokerage, managing general underwriting and delegated authority solutions. The company works with retail insurance brokers, agents, carriers and other market participants to place and manage complex, specialty risks that may require specialized underwriting expertise or customized coverage.

Its business includes specialty insurance and reinsurance brokerage, underwriting management and insurance program administration.