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

Ryan Specialty Holdings, Inc. (NYSE:RYAN) announced a quarterly dividend on Thursday, February 20th, Wall Street Journal reports. Stockholders of record on Tuesday, March 4th will be given a dividend of 0.12 per share on Tuesday, March 18th. This represents a $0.48 annualized dividend and a dividend yield of 0.73%. The ex-dividend date is Tuesday, March 4th. This is a boost from Ryan Specialty’s previous quarterly dividend of $0.11.

Ryan Specialty has a payout ratio of 16.4% indicating that its dividend is sufficiently covered by earnings. Equities 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 Stock Down 4.4 %

Shares of NYSE RYAN traded down $3.05 during trading hours on Friday, hitting $65.55. The company had a trading volume of 2,425,852 shares, compared to its average volume of 990,822. The stock has a market capitalization of $17.16 billion, a P/E ratio of 85.13, a price-to-earnings-growth ratio of 1.21 and a beta of 0.72. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 2.40. Ryan Specialty has a 1-year low of $45.72 and a 1-year high of $75.97. The firm’s 50 day moving average is $65.61 and its 200-day moving average is $67.26.

Ryan Specialty (NYSE:RYAN) last posted 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 business had revenue of $663.53 million during the quarter, compared to the consensus estimate of $658.80 million. On average, analysts expect that Ryan Specialty will post 1.82 earnings per share for the current fiscal year.

Insider Activity at Ryan Specialty

In related news, Director Nicholas Dominic Cortezi sold 31,409 shares of the business’s stock in a transaction dated Wednesday, January 29th. The stock was sold at an average price of $65.64, for a total value of $2,061,686.76. Following the completion of the transaction, the director now owns 2,697 shares of the company’s stock, valued at $177,031.08. The trade was a 92.09 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders sold a total of 316,451 shares of company stock valued at $20,907,793 over the last quarter. 11.10% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on RYAN shares. Royal Bank of Canada dropped their price target on Ryan Specialty from $73.00 to $72.00 and set a “sector perform” rating on the stock in a research note on Friday. Morgan Stanley initiated coverage on Ryan Specialty in a research report on Thursday, December 5th. They set an “overweight” rating and a $90.00 price objective on the stock. Keefe, Bruyette & Woods lowered their price objective on Ryan Specialty from $77.00 to $76.00 and set an “outperform” rating on the stock in a research report on Friday. Barclays increased 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, Wells Fargo & Company increased 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. One analyst has rated the stock with a sell rating, six have assigned a hold rating and six have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $74.55.

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.