Ryan Specialty (RYAN) to Release Quarterly Earnings on Wednesday

Ryan Specialty (NYSE:RYAN) will issue its quarterly earnings data after the market closes on Wednesday, October 30th. Analysts expect the company to announce earnings of $0.41 per share for the quarter. Parties interested in listening to the company’s conference call can do so using this link.

Ryan Specialty (NYSE:RYAN) last announced its quarterly earnings results on Thursday, August 1st. The company reported $0.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.56 by $0.02. Ryan Specialty had a return on equity of 48.08% and a net margin of 10.21%. The company had revenue of $695.40 million during the quarter, compared to the consensus estimate of $695.56 million. During the same period in the prior year, the company earned $0.45 earnings per share. The company’s revenue for the quarter was up 18.9% compared to the same quarter last year. On average, analysts expect Ryan Specialty to post $2 EPS for the current fiscal year and $2 EPS for the next fiscal year.

Ryan Specialty Stock Down 2.5 %

Shares of Ryan Specialty stock opened at $68.06 on Wednesday. Ryan Specialty has a 1 year low of $41.49 and a 1 year high of $73.10. The business has a 50-day moving average of $66.35 and a two-hundred day moving average of $59.44. The company has a market capitalization of $17.73 billion, a P/E ratio of 128.42, a price-to-earnings-growth ratio of 1.58 and a beta of 0.62. The company has a debt-to-equity ratio of 1.81, a current ratio of 1.09 and a quick ratio of 1.09.

Ryan Specialty Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, August 27th. Investors of record on Tuesday, August 13th were issued a dividend of $0.11 per share. The ex-dividend date of this dividend was Tuesday, August 13th. This represents a $0.44 dividend on an annualized basis and a dividend yield of 0.65%. Ryan Specialty’s payout ratio is presently 83.02%.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the company. Wells Fargo & Company increased their price objective on Ryan Specialty from $63.00 to $70.00 and gave the stock an “equal weight” rating in a report on Thursday, October 10th. The Goldman Sachs Group increased their price objective on Ryan Specialty from $64.00 to $72.00 and gave the stock a “neutral” rating in a report on Wednesday, October 9th. JPMorgan Chase & Co. increased their price objective on Ryan Specialty from $54.00 to $56.00 and gave the stock an “underweight” rating in a report on Friday, August 2nd. BMO Capital Markets upgraded Ryan Specialty from a “market perform” rating to an “outperform” rating and increased their price objective for the stock from $65.00 to $75.00 in a report on Tuesday, September 24th. Finally, Bank of America increased their price target on Ryan Specialty from $75.00 to $84.00 and gave the company a “buy” rating in a research report on Thursday, October 10th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $70.33.

Insider Activity at Ryan Specialty

In other news, President Timothy William Turner sold 2,000,000 shares of the firm’s stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $62.45, for a total value of $124,900,000.00. Following the completion of the sale, the president now directly owns 8,095 shares of the company’s stock, valued at $505,532.75. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. In other news, Director Nicholas Dominic Cortezi sold 2,325 shares of the firm’s stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $64.60, for a total value of $150,195.00. Following the completion of the sale, the director now directly owns 3,463 shares of the company’s stock, valued at $223,709.80. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, President Timothy William Turner sold 2,000,000 shares of the firm’s stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $62.45, for a total value of $124,900,000.00. Following the completion of the sale, the president now directly owns 8,095 shares of the company’s stock, valued at approximately $505,532.75. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 2,107,136 shares of company stock valued at $131,860,032. Insiders own 11.10% 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.