Ryan Specialty (NYSE:RYAN) Reaches New 12-Month High – Time to Buy?

18 Oct 2024, 00:08 by Kim Johansen · The Markets Daily

Ryan Specialty Holdings, Inc. (NYSE:RYAN – Get Free Report)’s share price hit a new 52-week high on Tuesday . The company traded as high as $73.09 and last traded at $72.71, with a volume of 55050 shares. The stock had previously closed at $72.48.

Analysts Set New Price Targets

A number of brokerages have recently commented on RYAN. Barclays started coverage on Ryan Specialty in a research report on Wednesday, September 4th. They issued an “overweight” rating and a $76.00 price objective for the company. Keefe, Bruyette & Woods restated an “outperform” rating and issued a $62.00 price target on shares of Ryan Specialty in a report on Tuesday, July 2nd. BMO Capital Markets upgraded shares of Ryan Specialty from a “market perform” rating to an “outperform” rating and increased their price objective for the stock from $65.00 to $75.00 in a report on Tuesday, September 24th. Bank of America boosted their target price on shares of Ryan Specialty from $75.00 to $84.00 and gave the company a “buy” rating in a report on Thursday, October 10th. Finally, Wells Fargo & Company increased their price target on shares of Ryan Specialty from $63.00 to $70.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 10th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $70.33.

Read Our Latest Stock Report on Ryan Specialty

Ryan Specialty Trading Down 0.0 %

The stock has a market capitalization of $18.38 billion, a PE ratio of 133.15, a PEG ratio of 1.66 and a beta of 0.62. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 1.81. The business’s 50-day moving average is $66.07 and its two-hundred day moving average is $59.02.

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

Ryan Specialty Announces Dividend

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. The ex-dividend date of this dividend was Tuesday, August 13th. This represents a $0.44 annualized dividend and a dividend yield of 0.62%. Ryan Specialty’s dividend payout ratio (DPR) is presently 83.02%.

Insiders Place Their Bets

In other Ryan Specialty news, Director Nicholas Dominic Cortezi sold 1,500 shares of Ryan Specialty stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $65.02, for a total transaction of $97,530.00. Following the sale, the director now directly owns 25,123 shares in the company, valued at $1,633,497.46. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Ryan Specialty news, Director Nicholas Dominic Cortezi sold 1,500 shares of the firm’s stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $65.02, for a total transaction of $97,530.00. Following the completion of the transaction, the director now directly owns 25,123 shares of the company’s stock, valued at $1,633,497.46. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Jeremiah Rawlins Bickham sold 26,233 shares of the company’s stock in a transaction dated 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 sale, the executive vice president now owns 24,845 shares in the company, valued at approximately $1,619,397.10. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 2,107,136 shares of company stock worth $131,860,032 in the last quarter. 11.10% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Ryan Specialty

Several large investors have recently added to or reduced their stakes in the company. Champlain Investment Partners LLC raised its holdings in shares of Ryan Specialty by 28.0% during the first quarter. Champlain Investment Partners LLC now owns 4,937,332 shares of the company’s stock worth $274,022,000 after purchasing an additional 1,079,505 shares during the period. Norden Group LLC grew its position in shares of Ryan Specialty by 2,138.1% during the 1st quarter. Norden Group LLC now owns 778,848 shares of the company’s stock valued at $43,226,000 after buying an additional 744,049 shares during the last quarter. Bessemer Group Inc. raised its stake in Ryan Specialty by 33.9% during the first quarter. Bessemer Group Inc. now owns 1,925,864 shares of the company’s stock worth $106,886,000 after acquiring an additional 488,067 shares during the period. Bank of New York Mellon Corp lifted its holdings in Ryan Specialty by 132.2% in the second quarter. Bank of New York Mellon Corp now owns 836,209 shares of the company’s stock worth $48,425,000 after acquiring an additional 476,126 shares during the last quarter. Finally, 2Xideas AG acquired a new position in Ryan Specialty in the first quarter valued at approximately $19,765,000. 84.82% of the stock is currently owned by institutional investors.

About Ryan Specialty

(Get Free Report)

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.