Ryan Specialty (NYSE:RYAN) Announces Quarterly Earnings Results

Ryan Specialty (NYSE:RYAN) posted its earnings results on Wednesday. The company reported $0.41 EPS for the quarter, hitting the consensus estimate of $0.41, Briefing.com reports. The firm had revenue of $604.69 million for the quarter, compared to the consensus estimate of $602.04 million. Ryan Specialty had a net margin of 10.21% and a return on equity of 48.08%. The business’s quarterly revenue was up 20.5% on a year-over-year basis. During the same period in the prior year, the business posted $0.32 earnings per share.

Ryan Specialty Trading Down 1.1 %

Shares of Ryan Specialty stock traded down $0.74 on Thursday, hitting $68.22. 1,449,700 shares of the company’s stock traded hands, compared to its average volume of 875,139. The firm’s 50-day moving average price is $66.97 and its two-hundred day moving average price is $60.25. The stock has a market capitalization of $17.84 billion, a PE ratio of 105.78, a price-to-earnings-growth ratio of 1.55 and a beta of 0.62. Ryan Specialty has a one year low of $41.49 and a one year high of $73.10. The company has a debt-to-equity ratio of 1.81, a current ratio of 1.09 and a quick ratio of 1.09.

Insider Buying and Selling at Ryan Specialty

In other Ryan Specialty news, President Timothy William Turner sold 2,000,000 shares of the company’s stock in a transaction on Friday, August 9th. The shares were sold at an average price of $62.45, for a total transaction of $124,900,000.00. Following the completion of the sale, the president now owns 8,095 shares in the company, valued at approximately $505,532.75. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, President Timothy William Turner sold 2,000,000 shares of the company’s stock in a transaction on Friday, August 9th. The shares were sold at an average price of $62.45, for a total value of $124,900,000.00. Following the completion of the transaction, the president now directly owns 8,095 shares of the company’s stock, valued at approximately $505,532.75. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Jeremiah Rawlins Bickham sold 26,233 shares of the company’s stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $65.18, for a total transaction of $1,709,866.94. Following the completion of the sale, the executive vice president now directly owns 24,845 shares in the company, valued at approximately $1,619,397.10. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 2,107,136 shares of company stock worth $131,860,032. Insiders own 11.10% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on RYAN. The Goldman Sachs Group lifted their target price on Ryan Specialty from $64.00 to $72.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 9th. Wells Fargo & Company lifted 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. JPMorgan Chase & Co. lifted their price objective on Ryan Specialty from $54.00 to $56.00 and gave the company an “underweight” rating in a report on Friday, August 2nd. Barclays started coverage on Ryan Specialty in a report on Wednesday, September 4th. They set an “overweight” rating and a $76.00 price objective on the stock. Finally, UBS Group lifted their price objective on Ryan Specialty from $67.00 to $76.00 and gave the company a “buy” rating in a report on Tuesday, August 13th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $70.33.

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.