Ryan Specialty (NYSE:RYAN) Sees Unusually-High Trading Volume After Dividend Announcement

Ryan Specialty Holdings Inc. (NYSE:RYAN) shares saw unusually-high trading volume on Friday after the company announced a dividend. Approximately 3,536,672 shares traded hands during mid-day trading, an increase of 239% from the previous session’s volume of 1,042,291 shares.The stock last traded at $58.46 and had previously closed at $61.19.

The newly announced dividend which will be paid on Tuesday, August 26th. Stockholders of record on Tuesday, August 12th will be paid a dividend of $0.12 per share. The ex-dividend date of this dividend is Tuesday, August 12th. This represents a $0.48 annualized dividend and a dividend yield of 0.8%. Ryan Specialty’s payout ratio is currently 137.14%.

Analyst Ratings Changes

RYAN has been the subject of a number of research analyst reports. TD Cowen assumed coverage on Ryan Specialty in a report on Thursday, April 10th. They set a “buy” rating and a $89.00 price objective for the company. Wall Street Zen lowered Ryan Specialty from a “hold” rating to a “sell” rating in a research note on Saturday, July 26th. The Goldman Sachs Group upgraded Ryan Specialty from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $74.00 to $81.00 in a report on Tuesday, May 13th. Wells Fargo & Company decreased their target price on Ryan Specialty from $63.00 to $60.00 and set an “equal weight” rating for the company in a report on Friday. Finally, Keefe, Bruyette & Woods dropped their target price on shares of Ryan Specialty from $76.00 to $75.00 and set an “outperform” rating for the company in a research report on Wednesday, April 9th. Two research analysts have rated the stock with a sell rating, two have given a hold rating and eight have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $75.73.

Ryan Specialty Trading Down 5.3%

The firm has a fifty day moving average of $66.47 and a 200 day moving average of $68.20. The firm has a market capitalization of $15.21 billion, a PE ratio of 165.63, a P/E/G ratio of 1.65 and a beta of 0.64. The company has a debt-to-equity ratio of 3.45, a quick ratio of 1.05 and a current ratio of 1.05.

Ryan Specialty (NYSE:RYAN) last issued its quarterly earnings data on Thursday, July 31st. The company reported $0.66 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.66. The company had revenue of $855.17 million during the quarter, compared to the consensus estimate of $837.52 million. Ryan Specialty had a net margin of 6.81% and a return on equity of 49.78%. Ryan Specialty’s revenue for the quarter was up 23.0% on a year-over-year basis. During the same quarter last year, the company earned $0.58 earnings per share. Equities research analysts expect that Ryan Specialty Holdings Inc. will post 2.29 EPS for the current year.

Insider Buying and Selling at Ryan Specialty

In related news, Director David P. Bolger sold 5,000 shares of Ryan Specialty stock in a transaction on Tuesday, June 3rd. The shares were sold at an average price of $70.80, for a total transaction of $354,000.00. Following the sale, the director owned 71,467 shares of the company’s stock, valued at $5,059,863.60. The trade was a 6.54% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Mark Stephen Katz sold 14,377 shares of the business’s stock in a transaction on Friday, June 13th. The stock was sold at an average price of $65.84, for a total transaction of $946,581.68. Following the completion of the transaction, the executive vice president owned 1,117 shares in the company, valued at $73,543.28. This represents a 92.79% decrease in their position. The disclosure for this sale can be found here. 52.21% of the stock is currently owned by corporate insiders.

Institutional Trading of Ryan Specialty

A number of hedge funds have recently made changes to their positions in the stock. Mariner LLC raised its stake in Ryan Specialty by 3.4% during the fourth quarter. Mariner LLC now owns 5,278 shares of the company’s stock valued at $339,000 after buying an additional 172 shares in the last quarter. Crossmark Global Holdings Inc. increased its holdings in shares of Ryan Specialty by 2.9% in the 1st quarter. Crossmark Global Holdings Inc. now owns 7,351 shares of the company’s stock valued at $543,000 after acquiring an additional 207 shares during the last quarter. Whittier Trust Co. of Nevada Inc. increased its holdings in shares of Ryan Specialty by 281.6% in the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 332 shares of the company’s stock valued at $25,000 after acquiring an additional 245 shares during the last quarter. Wallace Advisory Group LLC raised its position in shares of Ryan Specialty by 5.8% during the 2nd quarter. Wallace Advisory Group LLC now owns 4,837 shares of the company’s stock valued at $357,000 after acquiring an additional 267 shares in the last quarter. Finally, UMB Bank n.a. lifted its stake in Ryan Specialty by 5.0% during the first quarter. UMB Bank n.a. now owns 5,797 shares of the company’s stock worth $428,000 after purchasing an additional 275 shares during the last quarter. Institutional investors and hedge funds 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.