Ryan Specialty (NYSE:RYAN) Sets New 1-Year High at $50.16

Posted by Defense World Staff on Sep 24th, 2023

Ryan Specialty Holdings, Inc. (NYSE:RYAN – Get Free Report)’s share price reached a new 52-week high during mid-day trading on Friday . The stock traded as high as $50.16 and last traded at $50.01, with a volume of 37323 shares trading hands. The stock had previously closed at $48.80.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on RYAN shares. JPMorgan Chase & Co. increased their price objective on shares of Ryan Specialty from $39.00 to $43.00 in a report on Thursday, July 6th. Barclays increased their target price on shares of Ryan Specialty from $51.00 to $52.00 and gave the company an “overweight” rating in a research note on Friday, August 4th. Wolfe Research started coverage on shares of Ryan Specialty in a research note on Thursday. They set an “outperform” rating and a $59.00 target price for the company. JMP Securities started coverage on shares of Ryan Specialty in a research note on Tuesday, September 19th. They set a “market perform” rating for the company. Finally, Wells Fargo & Company increased their target price on shares of Ryan Specialty from $50.00 to $53.00 and gave the company an “overweight” rating in a research note on Friday, August 4th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $49.63.

View Our Latest Stock Analysis on RYAN

Ryan Specialty Trading Up 1.0 %

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 firm has a market cap of $12.83 billion, a PE ratio of 82.18 and a beta of 0.42. The company’s 50-day moving average is $46.43 and its 200 day moving average is $43.31.

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

Insiders Place Their Bets

In other Ryan Specialty news, Director Nicholas Dominic Cortezi sold 4,283 shares of the stock in a transaction that occurred on Friday, August 18th. The shares were sold at an average price of $44.68, for a total value of $191,364.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, Director Nicholas Dominic Cortezi sold 4,283 shares of the stock in a transaction on Friday, August 18th. The shares were sold at an average price of $44.68, for a total transaction of $191,364.44. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Lisa Jo Paschal-Alcorn sold 42,762 shares of the stock in a transaction on Wednesday, August 16th. The stock was sold at an average price of $45.01, for a total transaction of $1,924,717.62. Following the transaction, the insider now owns 3,660 shares in the company, valued at approximately $164,736.60. The disclosure for this sale can be found here. Insiders sold a total of 543,132 shares of company stock worth $24,220,125 in the last quarter. 54.51% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of RYAN. Morgan Stanley increased its stake in shares of Ryan Specialty by 515.7% during the 4th quarter. Morgan Stanley now owns 2,467,647 shares of the company’s stock worth $102,432,000 after purchasing an additional 2,066,855 shares during the last quarter. Vanguard Group Inc. grew its stake in Ryan Specialty by 42.3% in the 1st quarter. Vanguard Group Inc. now owns 6,747,855 shares of the company’s stock valued at $261,749,000 after buying an additional 2,006,018 shares during the last quarter. Portside Wealth Group LLC acquired a new position in Ryan Specialty in the 2nd quarter valued at $67,332,000. Jackson Square Partners LLC acquired a new position in Ryan Specialty in the 1st quarter valued at $44,952,000. Finally, Barclays PLC grew its stake in Ryan Specialty by 34,778.9% in the 2nd quarter. Barclays PLC now owns 1,058,576 shares of the company’s stock valued at $47,519,000 after buying an additional 1,055,541 shares during the last quarter. Institutional investors and hedge funds own 34.09% of the company’s stock.

About Ryan Specialty

(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.