Ryan Specialty (NYSE:RYAN) Reaches New 12-Month High Following Analyst Upgrade

Ryan Specialty Holdings, Inc. (NYSE:RYAN)’s stock price reached a new 52-week high during mid-day trading on Friday after Barclays raised their price target on the stock from $76.00 to $88.00. Barclays currently has an overweight rating on the stock. Ryan Specialty traded as high as $73.40 and last traded at $72.91, with a volume of 45315 shares changing hands. The stock had previously closed at $71.73.

A number of other brokerages have also recently issued reports on RYAN. UBS Group upped their price objective on Ryan Specialty from $67.00 to $76.00 and gave the stock a “buy” rating in a research note on Tuesday, August 13th. Bank of America upped their price target on shares of Ryan Specialty from $75.00 to $84.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th. JPMorgan Chase & Co. lifted their price objective on shares of Ryan Specialty from $54.00 to $56.00 and gave the company an “underweight” rating in a research report on Friday, August 2nd. The Goldman Sachs Group upped their target price on shares of Ryan Specialty from $64.00 to $72.00 and gave the company a “neutral” rating in a report on Wednesday, October 9th. Finally, Wells Fargo & Company lifted their price target on Ryan Specialty from $63.00 to $70.00 and gave the stock an “equal weight” rating in a report on Thursday, October 10th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $71.67.

Insider Activity

In other Ryan Specialty news, Director Nicholas Dominic Cortezi sold 2,325 shares of the business’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $64.60, for a total value of $150,195.00. Following the completion of the sale, the director now owns 3,463 shares of the company’s stock, valued at $223,709.80. The trade was a 40.17 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Mark Stephen Katz sold 14,790 shares of the firm’s stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $71.39, for a total transaction of $1,055,858.10. Following the transaction, the executive vice president now directly owns 12,386 shares in the company, valued at $884,236.54. This represents a 54.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 22,490 shares of company stock valued at $1,553,977. 11.10% of the stock is owned by insiders.

Institutional Investors Weigh In On Ryan Specialty

A number of large investors have recently added to or reduced their stakes in RYAN. Hollencrest Capital Management bought a new stake in shares of Ryan Specialty during the 3rd quarter valued at $25,000. Assetmark Inc. bought a new stake in Ryan Specialty during the third quarter worth about $34,000. GAMMA Investing LLC grew its stake in Ryan Specialty by 96.4% during the second quarter. GAMMA Investing LLC now owns 605 shares of the company’s stock worth $35,000 after buying an additional 297 shares in the last quarter. Crewe Advisors LLC bought a new position in Ryan Specialty in the 2nd quarter valued at about $39,000. Finally, Quarry LP raised its position in shares of Ryan Specialty by 109.3% in the 3rd quarter. Quarry LP now owns 808 shares of the company’s stock valued at $54,000 after buying an additional 422 shares in the last quarter. Institutional investors and hedge funds own 84.82% of the company’s stock.

Ryan Specialty Stock Up 2.5 %

The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 2.40. The company has a market capitalization of $19.25 billion, a price-to-earnings ratio of 95.49, a PEG ratio of 1.63 and a beta of 0.62. The firm’s 50-day moving average price is $69.06 and its 200 day moving average price is $62.58.

Ryan Specialty (NYSE:RYAN) last released its earnings results on Wednesday, October 30th. The company reported $0.41 earnings per share for the quarter, hitting the consensus estimate of $0.41. Ryan Specialty had a return on equity of 47.90% and a net margin of 10.31%. The firm had revenue of $604.69 million during the quarter, compared to analysts’ expectations of $602.04 million. During the same period in the prior year, the company earned $0.32 earnings per share. The company’s quarterly revenue was up 20.5% on a year-over-year basis. On average, sell-side analysts forecast that Ryan Specialty Holdings, Inc. will post 1.8 EPS for the current fiscal year.

Ryan Specialty Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, November 26th. Shareholders of record on Tuesday, November 12th will be given a $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a yield of 0.60%. The ex-dividend date of this dividend is Tuesday, November 12th. Ryan Specialty’s dividend payout ratio is presently 57.14%.

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.