Ryan Specialty (NYSE:RYAN) Posts Earnings Results, Meets Expectations

Ryan Specialty (NYSE:RYAN) announced its quarterly earnings data on Wednesday. The company reported $0.41 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.41, Briefing.com reports. Ryan Specialty had a return on equity of 47.90% and a net margin of 10.31%. The firm had revenue of $604.69 million for the quarter, compared to analysts’ expectations of $602.04 million. During the same period last year, the business posted $0.32 earnings per share. The firm’s revenue for the quarter was up 20.5% on a year-over-year basis.

Ryan Specialty Stock Performance

Shares of NYSE RYAN traded up $0.84 during midday trading on Friday, reaching $66.71. 949,619 shares of the company traded hands, compared to its average volume of 884,639. The company has a market cap of $17.44 billion, a price-to-earnings ratio of 86.64, a PEG ratio of 1.49 and a beta of 0.62. The stock has a 50-day moving average price of $67.04 and a 200 day moving average price of $60.41. Ryan Specialty has a 52 week low of $41.49 and a 52 week high of $73.10. The company has a debt-to-equity ratio of 2.40, a current ratio of 1.01 and a quick ratio of 1.09.

Ryan Specialty Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, November 26th. Stockholders of record on Tuesday, November 12th will be issued a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a dividend yield of 0.66%. The ex-dividend date is Tuesday, November 12th. Ryan Specialty’s dividend payout ratio (DPR) is 57.14%.

Insider Activity at Ryan Specialty

In other Ryan Specialty news, President Timothy William Turner sold 2,000,000 shares of the business’s stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $62.45, for a total transaction of $124,900,000.00. Following the sale, the president now directly owns 8,095 shares in the company, valued at approximately $505,532.75. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, President Timothy William Turner sold 2,000,000 shares of Ryan Specialty stock in a transaction on Friday, August 9th. The stock was sold at an average price of $62.45, for a total transaction of $124,900,000.00. Following the transaction, the president now directly owns 8,095 shares in the company, valued at approximately $505,532.75. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Nicholas Dominic Cortezi sold 5,375 shares of the company’s stock in a transaction on Wednesday, August 28th. The shares were sold at an average price of $64.73, for a total value of $347,923.75. Following the completion of the sale, the director now owns 2,685 shares of the company’s stock, valued at approximately $173,800.05. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 2,107,136 shares of company stock worth $131,860,032 in the last 90 days. Corporate insiders own 11.10% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on RYAN. Wells Fargo & Company raised their price target on shares of Ryan Specialty from $63.00 to $70.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 10th. Citigroup raised their target price on shares of Ryan Specialty from $56.00 to $62.00 and gave the stock a “neutral” rating in a report on Tuesday, July 23rd. JPMorgan Chase & Co. upped their target price on Ryan Specialty from $54.00 to $56.00 and gave the company an “underweight” rating in a report on Friday, August 2nd. Bank of America raised their price target on Ryan Specialty from $75.00 to $84.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. Finally, BMO Capital Markets upgraded Ryan Specialty from a “market perform” rating to an “outperform” rating and upped their price objective for the stock from $65.00 to $75.00 in a research note on Tuesday, September 24th. One analyst has rated the stock with a sell rating, five have issued a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $70.33.

Ryan Specialty Company Profile

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.