Ryan Specialty (NYSE:RYAN) Sets New 52-Week High – Here’s Why

Ryan Specialty Holdings, Inc. (NYSE:RYAN) hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $73.09 and last traded at $72.71, with a volume of 55050 shares changing hands. The stock had previously closed at $72.48.

Wall Street Analyst Weigh In

Several research firms have recently commented on RYAN. The Goldman Sachs Group boosted their price target on Ryan Specialty from $64.00 to $72.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 9th. Keefe, Bruyette & Woods reissued an “outperform” rating and set a $62.00 price target on shares of Ryan Specialty in a research report on Tuesday, July 2nd. BMO Capital Markets upgraded shares of Ryan Specialty from a “market perform” rating to an “outperform” rating and raised their price target for the company from $65.00 to $75.00 in a report on Tuesday, September 24th. JPMorgan Chase & Co. boosted their price objective on shares of Ryan Specialty from $54.00 to $56.00 and gave the stock an “underweight” rating in a research note on Friday, August 2nd. Finally, Wells Fargo & Company raised their target price on shares of Ryan Specialty from $63.00 to $70.00 and gave the company an “equal weight” rating in a research note on Thursday, October 10th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and five have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $70.33.

Ryan Specialty Stock Performance

The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 1.81. The company has a market cap of $18.56 billion, a PE ratio of 136.75, a P/E/G ratio of 1.66 and a beta of 0.62. The firm’s 50-day simple moving average is $65.82 and its two-hundred day simple moving average is $58.83.

Ryan Specialty (NYSE:RYAN) last announced its quarterly earnings data on Thursday, August 1st. The company reported $0.58 earnings per share for the quarter, beating analysts’ consensus estimates of $0.56 by $0.02. The firm had revenue of $695.40 million for the quarter, compared to analyst estimates of $695.56 million. Ryan Specialty had a net margin of 10.21% and a return on equity of 48.08%. The business’s quarterly revenue was up 18.9% compared to the same quarter last year. During the same period in the previous year, the company earned $0.45 earnings per share. As a group, research analysts anticipate that Ryan Specialty Holdings, Inc. will post 1.81 earnings per share for the current fiscal year.

Ryan Specialty Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, August 27th. Stockholders of record on Tuesday, August 13th were paid a $0.11 dividend. This represents a $0.44 annualized dividend and a dividend yield of 0.62%. The ex-dividend date was Tuesday, August 13th. Ryan Specialty’s payout ratio is 83.02%.

Insider Buying and Selling

In other news, Director Nicholas Dominic Cortezi sold 5,375 shares of the company’s stock in a transaction on Wednesday, August 28th. The shares were sold at an average price of $64.73, for a total value of $347,923.75. Following the sale, the director now directly owns 2,685 shares of the company’s stock, valued at $173,800.05. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Director Nicholas Dominic Cortezi sold 5,375 shares of the business’s stock in a transaction dated Wednesday, August 28th. The stock was sold at an average price of $64.73, for a total value of $347,923.75. Following the completion of the transaction, the director now owns 2,685 shares of the company’s stock, valued at $173,800.05. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Jeremiah Rawlins Bickham sold 26,233 shares of the company’s stock in a transaction dated Wednesday, August 14th. The stock was sold at an average price of $65.18, for a total value of $1,709,866.94. Following the completion of the sale, the executive vice president now owns 24,845 shares in the company, valued at $1,619,397.10. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 2,107,136 shares of company stock valued at $131,860,032 over the last quarter. 11.10% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Ryan Specialty

Several institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. increased its stake in shares of Ryan Specialty by 2.2% in the 4th quarter. Vanguard Group Inc. now owns 9,397,569 shares of the company’s stock valued at $404,283,000 after purchasing an additional 198,945 shares in the last quarter. Champlain Investment Partners LLC increased its position in shares of Ryan Specialty by 28.0% in the first quarter. Champlain Investment Partners LLC now owns 4,937,332 shares of the company’s stock valued at $274,022,000 after buying an additional 1,079,505 shares in the last quarter. Blair William & Co. IL raised its stake in shares of Ryan Specialty by 3.4% during the 2nd quarter. Blair William & Co. IL now owns 2,866,003 shares of the company’s stock worth $165,970,000 after buying an additional 94,663 shares during the period. Bessemer Group Inc. increased its stake in Ryan Specialty by 33.9% during the first quarter. Bessemer Group Inc. now owns 1,925,864 shares of the company’s stock worth $106,886,000 after acquiring an additional 488,067 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its position in Ryan Specialty by 132.2% in the second quarter. Bank of New York Mellon Corp now owns 836,209 shares of the company’s stock valued at $48,425,000 after purchasing an additional 476,126 shares during the period. 84.82% of the stock is owned by hedge funds and other institutional investors.

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.