Ryan Specialty (NYSE:RYAN) Issues Quarterly Earnings Results

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

Ryan Specialty Stock Performance

Shares of NYSE RYAN traded down $1.06 during mid-day trading on Thursday, reaching $67.90. 1,493,811 shares of the company were exchanged, compared to its average volume of 875,348. The stock has a market capitalization of $17.75 billion, a P/E ratio of 105.78, a P/E/G ratio of 1.55 and a beta of 0.62. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 1.81. The company’s 50-day simple moving average is $66.97 and its 200-day simple moving average is $60.25. Ryan Specialty has a twelve month low of $41.49 and a twelve month high of $73.10.

Insider Buying and Selling at Ryan Specialty

In related news, Director Nicholas Dominic Cortezi sold 5,375 shares of Ryan Specialty stock in a transaction that occurred on Wednesday, August 28th. The stock was sold at an average price of $64.73, for a total transaction of $347,923.75. Following the completion of the sale, the director now directly owns 2,685 shares of the company’s stock, valued at approximately $173,800.05. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, EVP Jeremiah Rawlins Bickham sold 26,233 shares of the company’s stock in a transaction on Wednesday, August 14th. The stock was 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. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Nicholas Dominic Cortezi sold 5,375 shares of the firm’s stock in a transaction on Wednesday, August 28th. The stock was sold at an average price of $64.73, for a total value of $347,923.75. Following the completion of the transaction, the director now owns 2,685 shares in the company, valued at $173,800.05. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 2,107,136 shares of company stock valued at $131,860,032 in the last three months. 11.10% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on RYAN shares. Citigroup boosted their price objective on shares of Ryan Specialty from $56.00 to $62.00 and gave the company a “neutral” rating in a research report on Tuesday, July 23rd. The Goldman Sachs Group raised their price objective on Ryan Specialty from $64.00 to $72.00 and gave the company a “neutral” rating in a report on Wednesday, October 9th. UBS Group increased their price target on Ryan Specialty from $67.00 to $76.00 and gave the company a “buy” rating in a research report on Tuesday, August 13th. BMO Capital Markets raised Ryan Specialty from a “market perform” rating to an “outperform” rating and boosted their price target for the stock from $65.00 to $75.00 in a research report on Tuesday, September 24th. Finally, Barclays assumed coverage on Ryan Specialty in a report on Wednesday, September 4th. They issued an “overweight” rating and a $76.00 price objective for the company. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $70.33.

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.