Ryan Specialty (NYSE:RYAN) Sets New 1-Year High - Here's Why

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

Analyst Upgrades and Downgrades

A number of research firms recently commented on RYAN. Keefe, Bruyette & Woods decreased their price objective 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. Wells Fargo & Company lifted their price target on shares of Ryan Specialty from $64.00 to $69.00 and gave the stock an "equal weight" rating in a report on Friday, February 21st. Royal Bank of Canada decreased their target price on shares of Ryan Specialty from $73.00 to $72.00 and set a "sector perform" rating on the stock in a research report on Friday, February 21st. Finally, UBS Group lifted their target price on shares of Ryan Specialty from $82.00 to $84.00 and gave the stock a "buy" rating in a research note on Wednesday, February 26th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and six have issued a buy rating to the company's stock. Based on data from MarketBeat.com, Ryan Specialty presently has an average rating of "Hold" and a consensus price target of $75.27.

Ryan Specialty Trading Up 0.0 %

The firm has a fifty day moving average of $69.67 and a 200 day moving average of $68.72. The firm has a market capitalization of $17.95 billion, a PE ratio of 98.91, a P/E/G ratio of 1.19 and a beta of 0.66. The company has a debt-to-equity ratio of 2.40, a quick ratio of 1.01 and a current ratio of 1.01.

Ryan Specialty (NYSE:RYAN - Get Free Report) last posted its quarterly earnings data on Thursday, February 20th. The company reported $0.45 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.47 by ($0.02). Ryan Specialty had a net margin of 9.14% and a return on equity of 48.01%. The firm had revenue of $663.53 million for the quarter, compared to analysts' expectations of $658.80 million. Equities research analysts expect that Ryan Specialty Holdings, Inc. will post 2.29 EPS for the current year.

Ryan Specialty Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 18th. Stockholders of record on Tuesday, March 4th were paid a dividend of $0.12 per share. 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. This represents a $0.48 annualized dividend and a dividend yield of 0.70%. Ryan Specialty's dividend payout ratio (DPR) is currently 69.57%.

Insider Buying and Selling

In other news, Director Nicholas Dominic Cortezi sold 29,466 shares of Ryan Specialty stock in a transaction that occurred on Monday, January 13th. The stock was sold at an average price of $65.06, for a total value of $1,917,057.96. Following the completion of the transaction, the director now owns 45,409 shares in the company, valued at approximately $2,954,309.54. This trade represents a 39.35 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Brendan Martin Mulshine sold 30,000 shares of the company's stock in a transaction that occurred on Friday, March 14th. The shares were 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. Over the last 90 days, insiders have sold 241,360 shares of company stock worth $16,006,428. 11.10% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Ryan Specialty

A number of institutional investors have recently modified their holdings of the business. Rakuten Securities Inc. acquired a new stake in shares of Ryan Specialty during the 4th quarter worth approximately $27,000. Kapitalo Investimentos Ltda acquired a new position in shares of Ryan Specialty during the fourth quarter valued at $36,000. Principal Securities Inc. grew its position in shares of Ryan Specialty by 164.7% during the fourth quarter. Principal Securities Inc. now owns 667 shares of the company's stock worth $43,000 after acquiring an additional 415 shares during the last quarter. Mizuho Bank Ltd. acquired a new stake in shares of Ryan Specialty in the 4th quarter worth about $49,000. Finally, Headlands Technologies LLC lifted its position in Ryan Specialty by 2,644.8% in the 4th quarter. Headlands Technologies LLC now owns 796 shares of the company's stock valued at $51,000 after purchasing an additional 767 shares during the last quarter. Institutional investors own 84.82% of the company's stock.

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.