Ryan Specialty (NYSE:RYAN) Hits New 52-Week High After Analyst Upgrade

Ryan Specialty Holdings, Inc. (NYSE:RYAN) hit a new 52-week high during trading 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 changing hands. The stock had previously closed at $71.73.

A number of other research firms have also weighed in on RYAN. Bank of America raised 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. The Goldman Sachs Group boosted their price objective on Ryan Specialty from $64.00 to $72.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 9th. Wells Fargo & Company lifted their price target on Ryan Specialty from $63.00 to $70.00 and gave the stock an “equal weight” rating in a report on Thursday, October 10th. JPMorgan Chase & Co. raised their price objective on shares of Ryan Specialty from $54.00 to $56.00 and gave the stock an “underweight” rating in a research report on Friday, August 2nd. Finally, BMO Capital Markets upgraded shares of Ryan Specialty from a “market perform” rating to an “outperform” rating and boosted their target price for the company from $65.00 to $75.00 in a report on Tuesday, September 24th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $71.67.

Insider Transactions 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 transaction, the director now directly owns 3,463 shares of the company’s stock, valued at $223,709.80. The trade was a 40.17 % decrease in their position. The sale 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 stock in a transaction 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 approximately $884,236.54. This represents a 54.42 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 22,490 shares of company stock worth $1,553,977. 11.10% of the stock is currently owned by insiders.

Institutional Trading of Ryan Specialty

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Virtu Financial LLC purchased a new position in shares of Ryan Specialty in the 3rd quarter valued at approximately $263,000. Teachers Retirement System of The State of Kentucky grew its position in Ryan Specialty by 51.5% in the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 30,760 shares of the company’s stock valued at $2,042,000 after buying an additional 10,460 shares during the last quarter. Executive Wealth Management LLC grew its position in Ryan Specialty by 96.4% in the 3rd quarter. Executive Wealth Management LLC now owns 8,383 shares of the company’s stock valued at $557,000 after buying an additional 4,115 shares during the last quarter. Barclays PLC increased its stake in Ryan Specialty by 1.1% in the 3rd quarter. Barclays PLC now owns 1,641,743 shares of the company’s stock valued at $108,994,000 after buying an additional 17,267 shares during the period. Finally, XTX Topco Ltd purchased a new position in Ryan Specialty during the 3rd quarter worth $306,000. 84.82% of the stock is owned by hedge funds and other institutional investors.

Ryan Specialty Price Performance

The company has a market cap of $19.25 billion, a price-to-earnings ratio of 95.48, a PEG ratio of 1.60 and a beta of 0.62. The company’s 50 day moving average price is $69.06 and its 200 day moving average price is $62.51. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 2.40.

Ryan Specialty (NYSE:RYAN) last announced its quarterly earnings data 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 firm had revenue of $604.69 million during the quarter, compared to the consensus estimate of $602.04 million. During the same quarter last year, the firm earned $0.32 earnings per share. The firm’s revenue was up 20.5% compared to the same quarter last year. Equities research analysts forecast that Ryan Specialty Holdings, Inc. will post 1.8 earnings per share for the current year.

Ryan Specialty Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, November 26th. Investors of record on Tuesday, November 12th will be paid a $0.11 dividend. The ex-dividend date of this dividend 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 (DPR) 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.