Ryan Specialty (NYSE:RYAN) Sets New 52-Week High at $59.22

Ryan Specialty Holdings, Inc. (NYSE:RYAN)’s share price hit a new 52-week high during mid-day trading on Friday . The company traded as high as $59.22 and last traded at $59.22, with a volume of 144564 shares traded. The stock had previously closed at $55.36.

Wall Street Analysts Forecast Growth

RYAN has been the topic of a number of recent analyst reports. JMP Securities reaffirmed a “market perform” rating on shares of Ryan Specialty in a research report on Monday, April 15th. Wells Fargo & Company boosted their target price on Ryan Specialty from $57.00 to $58.00 and gave the stock an “overweight” rating in a research report on Thursday, April 11th. Wolfe Research lowered Ryan Specialty from an “outperform” rating to a “peer perform” rating in a research report on Monday, May 6th. Citigroup boosted their target price on Ryan Specialty from $49.00 to $52.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 28th. Finally, Keefe, Bruyette & Woods boosted their target price on Ryan Specialty from $56.00 to $62.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 10th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $55.67.

Ryan Specialty Stock Up 7.7 %

The stock has a market capitalization of $15.52 billion, a price-to-earnings ratio of 112.45, a price-to-earnings-growth ratio of 1.44 and a beta of 0.61. The company has a quick ratio of 1.15, a current ratio of 1.15 and a debt-to-equity ratio of 1.99. The firm has a 50-day moving average of $53.16 and a two-hundred day moving average of $49.31.

Ryan Specialty (NYSE:RYAN) last issued its earnings results on Thursday, May 2nd. The company reported $0.35 EPS for the quarter, meeting analysts’ consensus estimates of $0.35. Ryan Specialty had a return on equity of 45.87% and a net margin of 9.15%. The firm had revenue of $552.00 million for the quarter, compared to the consensus estimate of $549.06 million. During the same quarter in the previous year, the company posted $0.26 earnings per share. The business’s quarterly revenue was up 20.6% compared to the same quarter last year. As a group, sell-side analysts anticipate that Ryan Specialty Holdings, Inc. will post 1.77 earnings per share for the current year.

Ryan Specialty Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, May 28th. Shareholders of record on Tuesday, May 14th were paid a $0.11 dividend. The ex-dividend date of this dividend was Monday, May 13th. This represents a $0.44 dividend on an annualized basis and a yield of 0.74%. Ryan Specialty’s dividend payout ratio (DPR) is currently 83.02%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of RYAN. PNC Financial Services Group Inc. boosted its stake in shares of Ryan Specialty by 192.0% during the 3rd quarter. PNC Financial Services Group Inc. now owns 549 shares of the company’s stock worth $27,000 after acquiring an additional 361 shares in the last quarter. Parkside Financial Bank & Trust boosted its stake in shares of Ryan Specialty by 1,283.6% during the 4th quarter. Parkside Financial Bank & Trust now owns 1,010 shares of the company’s stock worth $43,000 after acquiring an additional 937 shares in the last quarter. Intelligent Financial Strategies bought a new stake in shares of Ryan Specialty during the 1st quarter worth about $44,000. Benjamin F. Edwards & Company Inc. bought a new stake in shares of Ryan Specialty during the 1st quarter worth about $45,000. Finally, Operose Advisors LLC bought a new stake in shares of Ryan Specialty during the 3rd quarter worth about $92,000. Hedge funds and other institutional investors own 84.82% of the company’s stock.

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.