Ryan Specialty (NYSE:RYAN) Sets New 12-Month High – Here’s What Happened

Shares of Ryan Specialty Holdings, Inc. (NYSE:RYAN) reached a new 52-week high on Friday . The stock traded as high as $75.93 and last traded at $75.83, with a volume of 110370 shares trading hands. The stock had previously closed at $75.09.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on RYAN shares. UBS Group increased their target price on shares of Ryan Specialty from $67.00 to $76.00 and gave the stock a “buy” rating in a report on Tuesday, August 13th. The Goldman Sachs Group upped their price objective on Ryan Specialty from $64.00 to $72.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 9th. Bank of America raised their target price on shares of Ryan Specialty from $75.00 to $84.00 and gave the company a “buy” rating in a research note on Thursday, October 10th. Wells Fargo & Company upped their price target on Ryan Specialty from $63.00 to $70.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 10th. Finally, BMO Capital Markets raised Ryan Specialty from a “market perform” rating to an “outperform” rating and raised their price objective for the stock from $65.00 to $75.00 in a research report on Tuesday, September 24th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $71.67.

Ryan Specialty Price Performance

The stock has a 50 day moving average of $70.23 and a 200-day moving average of $63.28. The company has a debt-to-equity ratio of 2.40, a quick ratio of 1.01 and a current ratio of 1.01. The company has a market cap of $19.74 billion, a PE ratio of 97.92, a price-to-earnings-growth ratio of 1.70 and a beta of 0.62.

Ryan Specialty (NYSE:RYAN) last announced its quarterly earnings data on Wednesday, October 30th. The company reported $0.41 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.41. The firm had revenue of $604.69 million during the quarter, compared to analysts’ expectations of $602.04 million. Ryan Specialty had a return on equity of 47.90% and a net margin of 10.31%. The company’s revenue for the quarter was up 20.5% compared to the same quarter last year. During the same period last year, the business posted $0.32 earnings per share. Equities analysts predict that Ryan Specialty Holdings, Inc. will post 1.8 earnings per share for the current year.

Ryan Specialty Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, November 26th. Stockholders of record on Tuesday, November 12th were paid a $0.11 dividend. The ex-dividend date was Tuesday, November 12th. This represents a $0.44 dividend on an annualized basis and a dividend yield of 0.58%. Ryan Specialty’s payout ratio is currently 57.14%.

Insider Buying and Selling

In other news, EVP Mark Stephen Katz sold 14,790 shares of Ryan Specialty stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $71.39, for a total transaction of $1,055,858.10. Following the completion of the transaction, the executive vice president now directly owns 12,386 shares of the company’s stock, valued at $884,236.54. The trade was a 54.42 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director David P. Bolger sold 7,055 shares of the stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $70.88, for a total transaction of $500,058.40. Following the sale, the director now directly owns 78,149 shares in the company, valued at $5,539,201.12. This trade represents a 8.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 11.10% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Securian Asset Management Inc. acquired a new position in Ryan Specialty in the 2nd quarter worth about $474,000. Xponance Inc. lifted its position in shares of Ryan Specialty by 67.2% during the 2nd quarter. Xponance Inc. now owns 20,686 shares of the company’s stock valued at $1,198,000 after buying an additional 8,312 shares in the last quarter. Geneva Partners LLC acquired a new stake in Ryan Specialty in the 3rd quarter valued at $2,537,000. Jennison Associates LLC increased its holdings in Ryan Specialty by 60.2% in the 3rd quarter. Jennison Associates LLC now owns 1,025,063 shares of the company’s stock worth $68,054,000 after acquiring an additional 385,366 shares in the last quarter. Finally, Susquehanna Fundamental Investments LLC raised its position in Ryan Specialty by 2,354.0% during the second quarter. Susquehanna Fundamental Investments LLC now owns 100,614 shares of the company’s stock worth $5,827,000 after acquiring an additional 96,514 shares during the period. 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.