Ryan Specialty (NYSE:RYAN) Sets New 52-Week High Following Analyst Upgrade

Ryan Specialty Holdings, Inc. (NYSE:RYAN) reached 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.

RYAN has been the subject of a number of other research reports. Bank of America upped their target price on Ryan Specialty from $75.00 to $84.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. 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 research note on Thursday, October 10th. UBS Group lifted their target price on shares of Ryan Specialty from $67.00 to $76.00 and gave the stock a “buy” rating in a research report on Tuesday, August 13th. The Goldman Sachs Group upped their price target on shares of Ryan Specialty from $64.00 to $72.00 and gave the company a “neutral” rating in a research report on Wednesday, October 9th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Ryan Specialty from $54.00 to $56.00 and gave the stock an “underweight” rating in a report on Friday, August 2nd. 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 company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $71.67.

Insider Activity at Ryan Specialty

In other news, Director Nicholas Dominic Cortezi sold 2,325 shares of Ryan Specialty stock in a transaction on 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 in the company, valued at $223,709.80. The trade was a 40.17 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Mark Stephen Katz sold 14,790 shares of the business’s stock in a transaction on Friday, November 8th. The shares were 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 owns 12,386 shares in the company, valued at $884,236.54. The trade was a 54.42 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 22,490 shares of company stock worth $1,553,977 over the last quarter. Company insiders own 11.10% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Hollencrest Capital Management bought a new position in shares of Ryan Specialty during the 3rd quarter worth about $25,000. Assetmark Inc. acquired a new position in Ryan Specialty during the 3rd quarter worth approximately $34,000. GAMMA Investing LLC raised its stake in Ryan Specialty by 96.4% during the 2nd quarter. GAMMA Investing LLC now owns 605 shares of the company’s stock worth $35,000 after buying an additional 297 shares during the period. Crewe Advisors LLC bought a new position in Ryan Specialty in the second quarter worth approximately $39,000. Finally, Quarry LP grew its stake in Ryan Specialty by 109.3% in the third quarter. Quarry LP now owns 808 shares of the company’s stock valued at $54,000 after acquiring an additional 422 shares during the period. 84.82% of the stock is owned by institutional investors.

Ryan Specialty Stock Performance

The company has a debt-to-equity ratio of 2.40, a current ratio of 1.01 and a quick ratio of 1.01. The company has a fifty day moving average price of $69.06 and a 200 day moving average price of $62.58. The stock has a market cap of $19.25 billion, a P/E ratio of 95.49, a P/E/G ratio of 1.63 and a beta of 0.62.

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

Ryan Specialty Announces Dividend

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