Ryan Specialty Holdings, Inc. (RYAN) to Issue Quarterly Dividend of $0.12 on March 18th

Ryan Specialty Holdings, Inc. (NYSE:RYAN) declared a quarterly dividend on Thursday, February 20th, Wall Street Journal reports. Shareholders 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 dividend on an annualized basis and a yield of 0.69%. The ex-dividend date of this dividend 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 18.3% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Ryan Specialty to earn $2.77 per share next year, which means the company should continue to be able to cover its $0.48 annual dividend with an expected future payout ratio of 17.3%.

Ryan Specialty Price Performance

RYAN opened at $70.07 on Friday. The stock’s 50-day moving average price is $66.02 and its 200 day moving average price is $67.41. Ryan Specialty has a 12-month low of $48.48 and a 12-month high of $75.97. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 2.40. The firm has a market cap of $18.35 billion, a price-to-earnings ratio of 101.54, a PEG ratio of 1.19 and a beta of 0.72.

Ryan Specialty (NYSE:RYAN) last issued its quarterly earnings results on Thursday, February 20th. The company reported $0.45 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.47 by ($0.02). The business had revenue of $663.53 million for the quarter, compared to analyst estimates of $658.80 million. Ryan Specialty had a return on equity of 48.01% and a net margin of 9.14%. As a group, sell-side analysts expect that Ryan Specialty will post 2.29 earnings per share for the current year.

Insider Transactions at Ryan Specialty

In other news, Director Nicholas Dominic Cortezi sold 31,409 shares of the company’s stock in a transaction dated Wednesday, January 29th. The shares were sold at an average price of $65.64, for a total value of $2,061,686.76. Following the completion of the sale, the director now directly owns 2,697 shares of the company’s stock, valued at approximately $177,031.08. This represents a 92.09 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Over the last 90 days, insiders have sold 316,451 shares of company stock worth $20,907,793. Corporate insiders own 11.10% of the company’s stock.

Wall Street Analysts Forecast Growth

RYAN has been the topic of a number of research reports. Royal Bank of Canada reduced their target price on shares of Ryan Specialty from $73.00 to $72.00 and set a “sector perform” rating on the stock in a report on Friday, February 21st. Keefe, Bruyette & Woods reduced their price objective on Ryan Specialty from $77.00 to $76.00 and set an “outperform” rating on the stock in a research note on Friday, February 21st. Wells Fargo & Company increased their price target on Ryan Specialty from $64.00 to $69.00 and gave the company an “equal weight” rating in a research report on Friday, February 21st. Barclays increased their price target on Ryan Specialty from $76.00 to $88.00 and gave the company an “overweight” rating in a research report on Thursday, November 21st. Finally, Morgan Stanley initiated coverage on shares of Ryan Specialty in a report on Thursday, December 5th. They issued an “overweight” rating and a $90.00 target price on the stock. One analyst has rated the stock with a sell rating, six have assigned a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $75.27.

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.