Ryan Specialty (NYSE:RYAN) Trading Down 7% - Here's What Happened

Ryan Specialty Holdings, Inc. (NYSE:RYAN - Get Free Report)'s stock price traded down 7% during trading on Friday . The company traded as low as $64.02 and last traded at $64.73. 274,567 shares changed hands during mid-day trading, a decline of 71% from the average session volume of 951,027 shares. The stock had previously closed at $69.58.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the stock. Keefe, Bruyette & Woods reduced their price objective on shares of Ryan Specialty from $76.00 to $75.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 9th. UBS Group raised their price target on shares of Ryan Specialty from $82.00 to $84.00 and gave the stock a "buy" rating in a report on Wednesday, February 26th. TD Cowen started coverage on shares of Ryan Specialty in a report on Thursday, April 10th. They set a "buy" rating and a $89.00 price objective on the stock. Barclays reduced their target price on Ryan Specialty from $88.00 to $83.00 and set an "overweight" rating for the company in a research note on Friday, April 11th. Finally, Royal Bank of Canada decreased their target price on Ryan Specialty from $73.00 to $72.00 and set a "sector perform" rating for the company in a research report on Friday, February 21st. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, Ryan Specialty presently has a consensus rating of "Hold" and an average target price of $75.67.

Ryan Specialty Price Performance

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 business has a fifty day simple moving average of $70.35 and a 200 day simple moving average of $68.88. The stock has a market capitalization of $17.09 billion, a P/E ratio of 94.55, a price-to-earnings-growth ratio of 1.19 and a beta of 0.66.

Ryan Specialty (NYSE:RYAN - Get Free Report) last issued its quarterly earnings data on Thursday, February 20th. The company reported $0.45 EPS for the quarter, missing analysts' consensus estimates of $0.47 by ($0.02). The company had revenue of $663.53 million for the quarter, compared to the consensus estimate of $658.80 million. Ryan Specialty had a return on equity of 48.01% and a net margin of 9.14%. On average, analysts expect that Ryan Specialty Holdings, Inc. will post 2.29 earnings per share for the current year.

Ryan Specialty Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 18th. Stockholders of record on Tuesday, March 4th were paid a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.74%. The ex-dividend date of this dividend was Tuesday, March 4th. This is an increase from Ryan Specialty's previous quarterly dividend of $0.11. Ryan Specialty's payout ratio is presently 69.57%.

Insider Transactions at Ryan Specialty

In other news, Director Nicholas Dominic Cortezi sold 31,409 shares of the business's stock in a transaction that occurred on 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 transaction, the director now owns 2,697 shares in the company, valued at $177,031.08. The trade was a 92.09 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Brendan Martin Mulshine sold 30,000 shares of the company's stock in a transaction that occurred on Friday, March 14th. The shares were sold at an average price of $69.30, for a total value of $2,079,000.00. The disclosure for this sale can be found here. Company insiders own 11.10% of the company's stock.

Hedge Funds Weigh In On Ryan Specialty

Institutional investors have recently bought and sold shares of the company. Rakuten Securities Inc. purchased a new position in Ryan Specialty in the fourth quarter valued at approximately $27,000. Golden State Wealth Management LLC purchased a new stake in shares of Ryan Specialty during the first quarter worth $35,000. Fifth Third Bancorp lifted its position in shares of Ryan Specialty by 202.5% during the first quarter. Fifth Third Bancorp now owns 484 shares of the company's stock worth $36,000 after acquiring an additional 324 shares in the last quarter. Kapitalo Investimentos Ltda purchased a new stake in shares of Ryan Specialty during the fourth quarter worth $36,000. Finally, Principal Securities Inc. lifted its position in shares of Ryan Specialty by 164.7% during the fourth quarter. Principal Securities Inc. now owns 667 shares of the company's stock worth $43,000 after acquiring an additional 415 shares in the last quarter. 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.