Ryan Specialty (NYSE:RYAN) Reaches New 12-Month High – Here’s Why

Ryan Specialty Holdings, Inc. (NYSE:RYAN) reached a new 52-week high on Thursday . The stock traded as high as $76.75 and last traded at $76.19, with a volume of 69954 shares. The stock had previously closed at $75.06.

Analysts Set New Price Targets

Several brokerages have recently issued reports on RYAN. Keefe, Bruyette & Woods decreased their price target on Ryan Specialty from $77.00 to $76.00 and set an “outperform” rating on the stock in a research note on Friday, February 21st. Royal Bank of Canada lowered their target price on Ryan Specialty from $73.00 to $72.00 and set a “sector perform” rating for the company in a research note on Friday, February 21st. UBS Group raised their price target on shares of Ryan Specialty from $82.00 to $84.00 and gave the company a “buy” rating in a research note on Wednesday, February 26th. Finally, Wells Fargo & Company upped their price objective on shares of Ryan Specialty from $64.00 to $69.00 and gave the stock an “equal weight” rating in a research report on Friday, February 21st. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $75.27.

Ryan Specialty Trading Down 7.1 %

The company has a market cap of $18.48 billion, a price-to-earnings ratio of 102.25, a price-to-earnings-growth ratio of 1.19 and a beta of 0.71. The business’s fifty day moving average price is $69.60 and its 200 day moving average price is $68.60. The company has a debt-to-equity ratio of 2.40, a current ratio of 1.01 and a quick ratio of 1.01.

Ryan Specialty (NYSE:RYAN) last announced its earnings results on Thursday, February 20th. The company reported $0.45 EPS for the quarter, missing the consensus estimate of $0.47 by ($0.02). The company had revenue of $663.53 million for the quarter, compared to analyst estimates of $658.80 million. Ryan Specialty had a return on equity of 48.01% and a net margin of 9.14%. Research analysts anticipate that Ryan Specialty Holdings, Inc. will post 2.29 earnings per share for the current fiscal year.

Ryan Specialty Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 18th. Shareholders of record on Tuesday, March 4th were given a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 0.68%. The ex-dividend date of this dividend was Tuesday, March 4th. This is an increase from Ryan Specialty’s previous quarterly dividend of $0.11. Ryan Specialty’s dividend payout ratio is currently 69.57%.

Insider Activity

In other news, Director Nicholas Dominic Cortezi sold 35,000 shares of Ryan Specialty stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $65.99, for a total value of $2,309,650.00. Following the completion of the transaction, the director now directly owns 35,609 shares of the company’s stock, valued at approximately $2,349,837.91. This trade represents a 49.57 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Brendan Martin Mulshine sold 30,000 shares of the firm’s stock in a transaction that occurred on Friday, March 14th. The stock was sold at an average price of $69.30, for a total value of $2,079,000.00. The disclosure for this sale can be found here. In the last three months, insiders have sold 241,360 shares of company stock valued at $16,006,428. 11.10% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. FMR LLC increased its stake in Ryan Specialty by 72.3% in the third quarter. FMR LLC now owns 12,875 shares of the company’s stock valued at $855,000 after purchasing an additional 5,402 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in Ryan Specialty by 0.4% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 262,166 shares of the company’s stock worth $17,405,000 after buying an additional 935 shares during the period. Captrust Financial Advisors boosted its holdings in Ryan Specialty by 9.3% in the third quarter. Captrust Financial Advisors now owns 9,405 shares of the company’s stock worth $624,000 after acquiring an additional 798 shares in the last quarter. Verition Fund Management LLC grew its stake in Ryan Specialty by 40.5% in the third quarter. Verition Fund Management LLC now owns 11,774 shares of the company’s stock valued at $782,000 after acquiring an additional 3,396 shares during the period. Finally, Paloma Partners Management Co bought a new stake in shares of Ryan Specialty during the third quarter valued at approximately $247,000. Institutional investors and hedge funds own 84.82% of the company’s stock.

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.