Ryan Specialty (NYSE:RYAN) Hits New 52-Week High – What’s Next?

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

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the company. Wells Fargo & Company upped their price objective on Ryan Specialty from $63.00 to $70.00 and gave the company an “equal weight” rating in a report on Thursday, October 10th. UBS Group upped their price target on Ryan Specialty from $67.00 to $76.00 and gave the company a “buy” rating in a research note on Tuesday, August 13th. The Goldman Sachs Group raised their price objective on Ryan Specialty from $64.00 to $72.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 9th. Barclays upped their target price on shares of Ryan Specialty from $76.00 to $88.00 and gave the company an “overweight” rating in a research report on Thursday, November 21st. Finally, Bank of America boosted their price objective on Ryan Specialty from $75.00 to $84.00 and gave the company a “buy” rating in a report on Thursday, October 10th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $71.67.

Ryan Specialty Trading Up 0.4 %

The company’s fifty day moving average is $69.74 and its two-hundred day moving average is $63.04. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 2.40. The stock has a market cap of $19.74 billion, a price-to-earnings ratio of 97.52, a PEG 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 for the quarter, meeting analysts’ consensus estimates of $0.41. The business 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 company’s revenue was up 20.5% on a year-over-year basis. During the same period last year, the business earned $0.32 EPS. On average, research analysts predict that Ryan Specialty Holdings, Inc. will post 1.8 EPS for the current fiscal year.

Ryan Specialty Dividend Announcement

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

Insider Activity

In other news, EVP Mark Stephen Katz sold 14,790 shares of the company’s stock in a transaction on Friday, November 8th. The shares were sold at an average price of $71.39, for a total value of $1,055,858.10. Following the completion of the transaction, the executive vice president now owns 12,386 shares in the company, valued at approximately $884,236.54. This represents a 54.42 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director David P. Bolger sold 7,055 shares of Ryan Specialty 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 owns 78,149 shares in the company, valued at $5,539,201.12. This represents a 8.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 11.10% of the company’s stock.

Institutional Trading of Ryan Specialty

A number of large investors have recently made changes to their positions in the company. Tidal Investments LLC increased its position in Ryan Specialty by 30.4% during the third quarter. Tidal Investments LLC now owns 12,255 shares of the company’s stock worth $814,000 after buying an additional 2,858 shares during the period. Wilmington Savings Fund Society FSB purchased a new position in shares of Ryan Specialty during the third quarter worth approximately $193,000. Sanctuary Advisors LLC increased its holdings in shares of Ryan Specialty by 11.9% in the 3rd quarter. Sanctuary Advisors LLC now owns 15,502 shares of the company’s stock valued at $1,140,000 after acquiring an additional 1,651 shares during the period. Virtu Financial LLC purchased a new stake in Ryan Specialty in the 3rd quarter valued at $263,000. Finally, Teachers Retirement System of The State of Kentucky boosted its stake in Ryan Specialty by 51.5% during the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 30,760 shares of the company’s stock worth $2,042,000 after purchasing an additional 10,460 shares during the period. 84.82% of the stock is owned by institutional investors and hedge funds.

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.