Ryan Specialty (NYSE:RYAN) Sets New 52-Week High - Still a Buy?

Ryan Specialty Holdings, Inc. (NYSE:RYAN - Get Free Report)'s share price reached a new 52-week high on Friday . The stock traded as high as $75.93 and last traded at $75.83, with a volume of 110370 shares. The stock had previously closed at $75.09.

Analyst Ratings Changes

Several equities research analysts have commented on the stock. Barclays upped their target price on shares of Ryan Specialty from $76.00 to $88.00 and gave the company an "overweight" rating in a research note on Thursday, November 21st. Wells Fargo & Company upped their price objective on shares of Ryan Specialty from $63.00 to $70.00 and gave the company an "equal weight" rating in a research report on Thursday, October 10th. The Goldman Sachs Group lifted their target price on Ryan Specialty from $64.00 to $72.00 and gave the stock a "neutral" rating in a report on Wednesday, October 9th. Bank of America raised their price target on Ryan Specialty from $75.00 to $84.00 and gave the stock a "buy" rating in a research report on Thursday, October 10th. Finally, UBS Group boosted their price objective on Ryan Specialty from $67.00 to $76.00 and gave the company a "buy" rating in a research report on Tuesday, August 13th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $71.67.

Ryan Specialty Stock Up 0.4 %

The stock's fifty day moving average price is $70.23 and its 200-day moving average price is $63.28. The company has a market capitalization of $19.74 billion, a price-to-earnings ratio of 97.92, a P/E/G ratio of 1.70 and a beta of 0.62. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 2.40.

Ryan Specialty (NYSE:RYAN - Get Free Report) last released its earnings results on Wednesday, October 30th. The company reported $0.41 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.41. Ryan Specialty had a return on equity of 47.90% and a net margin of 10.31%. The business had revenue of $604.69 million for the quarter, compared to the consensus estimate of $602.04 million. During the same quarter in the previous year, the business earned $0.32 earnings per share. Ryan Specialty's quarterly revenue was up 20.5% on a year-over-year basis. On average, sell-side analysts predict that Ryan Specialty Holdings, Inc. will post 1.8 earnings per share for the current fiscal year.

Ryan Specialty Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, November 26th. Shareholders of record on Tuesday, November 12th were paid a $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a yield of 0.58%. The ex-dividend date of this dividend was Tuesday, November 12th. Ryan Specialty's dividend payout ratio is currently 57.14%.

Insider Transactions at Ryan Specialty

In related news, Director David P. Bolger sold 7,055 shares of Ryan Specialty stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $70.88, for a total transaction of $500,058.40. Following the completion of the sale, the director now owns 78,149 shares of the company's stock, valued at approximately $5,539,201.12. The trade was a 8.28 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Mark Stephen Katz sold 14,790 shares of the stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $71.39, for a total transaction of $1,055,858.10. Following the completion of the transaction, the executive vice president now directly owns 12,386 shares in the company, valued at approximately $884,236.54. This represents a 54.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 11.10% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. Hollencrest Capital Management acquired a new stake in Ryan Specialty during the third quarter worth approximately $25,000. Assetmark Inc. acquired a new stake in shares of Ryan Specialty during the 3rd quarter worth $34,000. GAMMA Investing LLC increased its position in shares of Ryan Specialty by 96.4% in the second quarter. GAMMA Investing LLC now owns 605 shares of the company's stock worth $35,000 after purchasing an additional 297 shares during the period. Crewe Advisors LLC acquired a new position in Ryan Specialty in the second quarter valued at about $39,000. Finally, Quarry LP lifted its position in Ryan Specialty by 109.3% during the third quarter. Quarry LP now owns 808 shares of the company's stock worth $54,000 after purchasing an additional 422 shares during the period. Institutional investors 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.