Ryan Specialty Holdings Inc. (NYSE:RYAN) Sees Large Increase in Short Interest

Ryan Specialty Holdings Inc. (NYSE:RYAN) saw a large growth in short interest in the month of March. As of March 31st, there was short interest totaling 9,706,908 shares, a growth of 37.8% from the March 15th total of 7,043,522 shares. Approximately 7.7% of the company’s shares are sold short. Based on an average daily trading volume, of 1,969,312 shares, the short-interest ratio is currently 4.9 days.

Analyst Ratings Changes

A number of equities research analysts recently commented on RYAN shares. Morgan Stanley reduced their target price on Ryan Specialty from $55.00 to $50.00 and set an “overweight” rating on the stock in a report on Monday, April 6th. Keefe, Bruyette & Woods reduced their price target on shares of Ryan Specialty from $55.00 to $49.00 and set an “outperform” rating for the company in a report on Tuesday, April 7th. Royal Bank Of Canada began coverage on shares of Ryan Specialty in a report on Tuesday, March 17th. They set an “outperform” rating and a $45.00 price objective on the stock. Bank of America dropped their price objective on shares of Ryan Specialty from $70.00 to $68.00 and set a “buy” rating on the stock in a report on Tuesday. Finally, The Goldman Sachs Group dropped their price objective on shares of Ryan Specialty from $57.00 to $49.00 and set a “buy” rating on the stock in a report on Wednesday, April 8th. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, five have given a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $51.35.

Ryan Specialty Stock Performance

RYAN opened at $37.41 on Friday. Ryan Specialty has a 52-week low of $31.50 and a 52-week high of $72.50. The firm has a market capitalization of $9.88 billion, a PE ratio of 89.08, a PEG ratio of 0.98 and a beta of 0.71. The company has a debt-to-equity ratio of 2.62, a quick ratio of 0.98 and a current ratio of 0.98. The business’s 50-day simple moving average is $37.33 and its 200 day simple moving average is $47.89.

Ryan Specialty (NYSE:RYAN) last released its earnings results on Thursday, February 12th. The company reported $0.45 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.50 by ($0.05). Ryan Specialty had a return on equity of 46.41% and a net margin of 7.02%.The company had revenue of $751.21 million for the quarter, compared to the consensus estimate of $777.43 million. During the same quarter in the previous year, the company posted $0.45 EPS. The business’s revenue was up 13.2% on a year-over-year basis. As a group, sell-side analysts expect that Ryan Specialty will post 2.29 earnings per share for the current fiscal year.

Ryan Specialty Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 10th. Shareholders of record on Tuesday, February 24th were paid a $0.13 dividend. This is a positive change from Ryan Specialty’s previous quarterly dividend of $0.12. This represents a $0.52 annualized dividend and a yield of 1.4%. The ex-dividend date was Tuesday, February 24th. Ryan Specialty’s dividend payout ratio is currently 123.81%.

Insider Activity at Ryan Specialty

In related news, Director Patrick G. Ryan, Jr. acquired 25,500 shares of the firm’s stock in a transaction that occurred on Monday, February 23rd. The stock was acquired at an average cost of $39.96 per share, with a total value of $1,018,980.00. Following the completion of the purchase, the director directly owned 428,295 shares in the company, valued at approximately $17,114,668.20. This trade represents a 6.33% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 52.03% of the stock is currently owned by company insiders.

Institutional Trading of Ryan Specialty

Several institutional investors and hedge funds have recently bought and sold shares of the business. Diversified Trust Co grew its position in shares of Ryan Specialty by 8.0% in the first quarter. Diversified Trust Co now owns 27,515 shares of the company’s stock valued at $928,000 after purchasing an additional 2,049 shares during the last quarter. Fund Advisors of America Inc FL acquired a new position in shares of Ryan Specialty in the fourth quarter valued at approximately $277,000. Corient Private Wealth LLC grew its position in shares of Ryan Specialty by 5.0% in the fourth quarter. Corient Private Wealth LLC now owns 17,807 shares of the company’s stock valued at $919,000 after purchasing an additional 840 shares during the last quarter. EJMK Ventures LLC acquired a new position in shares of Ryan Specialty in the fourth quarter valued at approximately $1,137,000. Finally, Caitong International Asset Management Co. Ltd grew its position in shares of Ryan Specialty by 491.5% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 1,532 shares of the company’s stock valued at $79,000 after purchasing an additional 1,273 shares during the last quarter. Institutional investors own 84.82% of the company’s stock.

About Ryan Specialty

Ryan Specialty Group, Inc (NYSE: RYAN) is a global specialty insurance and reinsurance platform that partners with a network of insurers and reinsurers to deliver tailored risk solutions. The company focuses on complex and large-scale risks across multiple industry sectors, leveraging its underwriting expertise to structure coverage programs that meet clients’ unique needs.

Ryan Specialty’s core offerings span a diverse range of specialty lines, including casualty, property, professional liability, marine and energy, program administration, and sports and entertainment.