Ryan Specialty (NYSE:RYAN) Hits New 1-Year High on Analyst Upgrade

Ryan Specialty Holdings, Inc. (NYSE:RYAN)’s stock price hit a new 52-week high 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. The stock had previously closed at $71.73.

Several other analysts have also weighed in on RYAN. The Goldman Sachs Group raised their price objective on shares of Ryan Specialty from $64.00 to $72.00 and gave the stock a “neutral” rating in a report on Wednesday, October 9th. BMO Capital Markets raised Ryan Specialty from a “market perform” rating to an “outperform” rating and upped their price target for the company from $65.00 to $75.00 in a research note on Tuesday, September 24th. Wells Fargo & Company lifted their target price on Ryan Specialty from $63.00 to $70.00 and gave the stock an “equal weight” rating in a report on Thursday, October 10th. Bank of America upped their target price on shares of Ryan Specialty from $75.00 to $84.00 and gave the stock a “buy” rating in a research note on Thursday, October 10th. Finally, JPMorgan Chase & Co. raised their price target 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. One investment analyst has rated the stock with a sell rating, five have given a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $71.67.

Insider Transactions at Ryan Specialty

In other Ryan Specialty news, Director Nicholas Dominic Cortezi sold 2,325 shares of the 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 transaction, the director now directly owns 3,463 shares of the company’s stock, valued at $223,709.80. This represents a 40.17 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 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 sale, the executive vice president now owns 12,386 shares of the company’s stock, valued at $884,236.54. This trade represents a 54.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 22,490 shares of company stock worth $1,553,977. 11.10% of the stock is owned by company insiders.

Institutional Investors Weigh In On Ryan Specialty

A number of hedge funds and other institutional investors have recently modified their holdings of RYAN. State Street Corp boosted its holdings in Ryan Specialty by 1.5% in the 3rd quarter. State Street Corp now owns 3,273,093 shares of the company’s stock valued at $217,301,000 after purchasing an additional 49,198 shares during the period. Janus Henderson Group PLC raised its position in shares of Ryan Specialty by 0.4% in the third quarter. Janus Henderson Group PLC now owns 3,148,916 shares of the company’s stock valued at $209,058,000 after buying an additional 13,986 shares in the last quarter. Blair William & Co. IL grew its position in Ryan Specialty by 3.4% during the second 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 in the last quarter. Barclays PLC increased its stake in Ryan Specialty by 1.1% during the 3rd quarter. Barclays PLC now owns 1,641,743 shares of the company’s stock worth $108,994,000 after acquiring an additional 17,267 shares during the period. Finally, Eagle Asset Management Inc. raised its holdings in Ryan Specialty by 32.1% in the 3rd quarter. Eagle Asset Management Inc. now owns 1,380,510 shares of the company’s stock valued at $98,555,000 after acquiring an additional 335,180 shares in the last quarter. Institutional investors and hedge funds own 84.82% of the company’s stock.

Ryan Specialty Trading Up 1.9 %

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 stock has a market capitalization of $19.13 billion, a P/E ratio of 93.16, a P/E/G ratio of 1.60 and a beta of 0.62. The business has a 50-day moving average price of $68.88 and a two-hundred day moving average price of $62.35.

Ryan Specialty (NYSE:RYAN) last released its earnings results on Wednesday, October 30th. The company reported $0.41 EPS for the quarter, meeting the consensus estimate of $0.41. The firm had revenue of $604.69 million for the quarter, compared to analyst estimates of $602.04 million. Ryan Specialty had a net margin of 10.31% and a return on equity of 47.90%. The business’s quarterly revenue was up 20.5% compared to the same quarter last year. During the same period last year, the firm earned $0.32 EPS. On average, analysts expect that Ryan Specialty Holdings, Inc. will post 1.8 EPS for the current fiscal year.

Ryan Specialty Announces Dividend

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

Ryan Specialty Company Profile

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.