Ryan Specialty (NYSE:RYAN) Hits New 1-Year High at $69.14

Shares of Ryan Specialty Holdings, Inc. (NYSE:RYAN) reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as $69.14 and last traded at $68.62, with a volume of 833333 shares changing hands. The stock had previously closed at $66.39.

Wall Street Analysts Forecast Growth

RYAN has been the subject of a number of recent research reports. The Goldman Sachs Group lifted their price target on shares of Ryan Specialty from $58.00 to $64.00 and gave the stock a “neutral” rating in a research note on Monday, August 5th. Citigroup increased their price objective on Ryan Specialty from $56.00 to $62.00 and gave the company a “neutral” rating in a report on Tuesday, July 23rd. UBS Group boosted their target price on Ryan Specialty from $67.00 to $76.00 and gave the stock a “buy” rating in a research note on Tuesday, August 13th. 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 report on Tuesday, September 24th. Finally, Wells Fargo & Company raised their price objective on shares of Ryan Specialty from $60.00 to $63.00 and gave the stock an “equal weight” rating in a report on Friday, August 2nd. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $66.78.

Ryan Specialty Stock Performance

The stock has a market cap of $17.76 billion, a PE ratio of 128.13, a price-to-earnings-growth ratio of 1.60 and a beta of 0.62. The stock has a fifty day moving average of $64.03 and a 200-day moving average of $57.77. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 1.81.

Ryan Specialty (NYSE:RYAN) last announced its earnings results on Thursday, August 1st. The company reported $0.58 earnings per share for the quarter, beating the consensus estimate of $0.56 by $0.02. Ryan Specialty had a return on equity of 48.08% and a net margin of 10.21%. The company had revenue of $695.40 million for the quarter, compared to the consensus estimate of $695.56 million. During the same period last year, the business posted $0.45 EPS. The company’s revenue was up 18.9% on a year-over-year basis. On average, equities analysts forecast that Ryan Specialty Holdings, Inc. will post 1.81 EPS for the current year.

Ryan Specialty Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, August 27th. Stockholders of record on Tuesday, August 13th were paid a $0.11 dividend. This represents a $0.44 annualized dividend and a dividend yield of 0.65%. The ex-dividend date was Tuesday, August 13th. Ryan Specialty’s dividend payout ratio (DPR) is presently 83.02%.

Insiders Place Their Bets

In other news, EVP Jeremiah Rawlins Bickham sold 26,233 shares of the stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $65.18, for a total value of $1,709,866.94. Following the completion of the transaction, the executive vice president now owns 24,845 shares in the company, valued at approximately $1,619,397.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, EVP Jeremiah Rawlins Bickham sold 26,233 shares of the firm’s stock in a transaction that occurred on 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 transaction, the executive vice president now directly owns 24,845 shares of the company’s stock, valued at approximately $1,619,397.10. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, President Timothy William Turner sold 2,000,000 shares of the company’s stock in a transaction that occurred 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 sale, the president now directly owns 8,095 shares in the company, valued at approximately $505,532.75. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 2,107,136 shares of company stock worth $131,860,032. Company insiders own 11.10% of the company’s stock.

Institutional Investors Weigh In On Ryan Specialty

Hedge funds have recently modified their holdings of the company. Champlain Investment Partners LLC increased its stake in Ryan Specialty by 28.0% in the first quarter. Champlain Investment Partners LLC now owns 4,937,332 shares of the company’s stock valued at $274,022,000 after purchasing an additional 1,079,505 shares during the last quarter. Norden Group LLC boosted its position in shares of Ryan Specialty by 2,138.1% in the first quarter. Norden Group LLC now owns 778,848 shares of the company’s stock worth $43,226,000 after acquiring an additional 744,049 shares during the last quarter. Bessemer Group Inc. grew its holdings in Ryan Specialty by 33.9% in the first quarter. Bessemer Group Inc. now owns 1,925,864 shares of the company’s stock valued at $106,886,000 after purchasing an additional 488,067 shares during the period. Bank of New York Mellon Corp increased its position in Ryan Specialty by 132.2% during the second quarter. Bank of New York Mellon Corp now owns 836,209 shares of the company’s stock worth $48,425,000 after purchasing an additional 476,126 shares during the last quarter. Finally, Norges Bank acquired a new position in shares of Ryan Specialty in the 4th quarter valued at $16,964,000. 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.