Ryan Specialty (NYSE:RYAN) Hits New 52-Week High at $49.67

Posted by on Sep 10th, 2023

Ryan Specialty Holdings, Inc. (NYSE:RYAN – Get Free Report) shares reached a new 52-week high on Friday . The stock traded as high as $49.67 and last traded at $49.55, with a volume of 13336 shares changing hands. The stock had previously closed at $49.32.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. Wells Fargo & Company lifted their price objective on shares of Ryan Specialty from $50.00 to $53.00 and gave the stock an “overweight” rating in a research report on Friday, August 4th. Barclays upped their price objective on Ryan Specialty from $51.00 to $52.00 and gave the company an “overweight” rating in a research note on Friday, August 4th. Finally, JPMorgan Chase & Co. raised their target price on Ryan Specialty from $39.00 to $43.00 in a research report on Thursday, July 6th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $48.29.

Get Our Latest Report on Ryan Specialty

Ryan Specialty Stock Performance

The company has a market capitalization of $12.74 billion, a P/E ratio of 81.62 and a beta of 0.42. The company has a current ratio of 1.22, a quick ratio of 1.22 and a debt-to-equity ratio of 2.06. The company’s fifty day moving average is $45.54 and its 200 day moving average is $42.79.

Ryan Specialty (NYSE:RYAN – Get Free Report) last posted its quarterly earnings results on Thursday, August 3rd. The company reported $0.45 EPS for the quarter, topping analysts’ consensus estimates of $0.42 by $0.03. Ryan Specialty had a return on equity of 39.86% and a net margin of 10.34%. The firm had revenue of $585.10 million during the quarter, compared to analyst estimates of $575.80 million. During the same period last year, the company earned $0.39 earnings per share. The business’s revenue for the quarter was up 19.1% on a year-over-year basis. As a group, equities analysts anticipate that Ryan Specialty Holdings, Inc. will post 1.38 earnings per share for the current year.

Insider Buying and Selling at Ryan Specialty

In related news, Director Nicholas Dominic Cortezi sold 25,000 shares of the company’s stock in a transaction that occurred on Friday, July 21st. The shares were sold at an average price of $45.89, for a total transaction of $1,147,250.00. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, Director Nicholas Dominic Cortezi sold 25,000 shares of Ryan Specialty stock in a transaction on Friday, July 21st. The stock was sold at an average price of $45.89, for a total transaction of $1,147,250.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Lisa Jo Paschal-Alcorn sold 42,762 shares of the company’s stock in a transaction dated Wednesday, August 16th. The stock was sold at an average price of $45.01, for a total value of $1,924,717.62. Following the completion of the transaction, the insider now owns 3,660 shares in the company, valued at $164,736.60. The disclosure for this sale can be found here. Insiders sold 568,132 shares of company stock valued at $25,287,125 in the last quarter. 54.51% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Ryan Specialty

Several hedge funds have recently bought and sold shares of the stock. HighTower Advisors LLC raised its position in Ryan Specialty by 31.5% during the first quarter. HighTower Advisors LLC now owns 9,565 shares of the company’s stock valued at $375,000 after purchasing an additional 2,290 shares in the last quarter. Citigroup Inc. lifted its position in Ryan Specialty by 16.9% in the 1st quarter. Citigroup Inc. now owns 4,744 shares of the company’s stock worth $184,000 after buying an additional 685 shares during the last quarter. Natixis Advisors L.P. purchased a new stake in Ryan Specialty in the first quarter worth approximately $515,000. Dimensional Fund Advisors LP bought a new position in Ryan Specialty during the first quarter valued at approximately $380,000. Finally, Vanguard Group Inc. grew its position in Ryan Specialty by 42.3% during the first quarter. Vanguard Group Inc. now owns 6,747,855 shares of the company’s stock valued at $261,749,000 after acquiring an additional 2,006,018 shares during the last quarter. 34.09% of the stock is currently owned by institutional investors.

Ryan Specialty Company Profile

(Get Free Report)

Ryan Specialty Holdings, Inc operates as a service provider of specialty products and solutions for insurance brokers, agents, and carriers. It offers distribution, underwriting, product development, administration, and risk management services by acting as a wholesale broker and a managing underwriter.

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