Ryan Specialty (NYSE:RYAN) Hits New 12-Month High on Analyst Upgrade

Ryan Specialty Holdings, Inc. (NYSE:RYAN - Get Free Report) hit a new 52-week high on Friday after Barclays raised their price target on the stock from $76.00 to $88.00. Barclays currently has an overweight rating on the stock. Ryan Specialty traded as high as $73.40 and last traded at $72.91, with a volume of 45315 shares traded. The stock had previously closed at $71.73.

Several other brokerages have also commented on RYAN. Wells Fargo & Company lifted their target price on Ryan Specialty from $63.00 to $70.00 and gave the stock an "equal weight" rating in a research report on Thursday, October 10th. JPMorgan Chase & Co. boosted their price objective on shares of Ryan Specialty from $54.00 to $56.00 and gave the company an "underweight" rating in a research report on Friday, August 2nd. UBS Group raised their target price on shares of Ryan Specialty from $67.00 to $76.00 and gave the stock a "buy" rating in a report on Tuesday, August 13th. The Goldman Sachs Group lifted their price target on Ryan Specialty from $64.00 to $72.00 and gave the company a "neutral" rating in a report on Wednesday, October 9th. Finally, Bank of America increased their price objective on Ryan Specialty from $75.00 to $84.00 and gave the stock a "buy" rating in a report on Thursday, October 10th. One analyst has rated the stock with a sell rating, five have issued a hold rating and five have given a buy rating to the stock. According to MarketBeat, Ryan Specialty has an average rating of "Hold" and a consensus target price of $71.67.

Insider Activity at Ryan Specialty

In other Ryan Specialty news, Director Nicholas Dominic Cortezi sold 2,325 shares of the company's stock in a transaction on Monday, August 26th. The stock was sold at an average price of $64.60, for a total value of $150,195.00. Following the transaction, the director now owns 3,463 shares of the company's stock, valued at approximately $223,709.80. This represents a 40.17 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Mark Stephen Katz sold 14,790 shares of the business's stock in a transaction on Friday, November 8th. The stock was sold at an average price of $71.39, for a total value of $1,055,858.10. Following the sale, the executive vice president now directly owns 12,386 shares in the company, valued at $884,236.54. This trade represents a 54.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 22,490 shares of company stock valued at $1,553,977 over the last 90 days. 11.10% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Hollencrest Capital Management purchased a new position in shares of Ryan Specialty during the third quarter valued at $25,000. Assetmark Inc. purchased a new position in Ryan Specialty during the 3rd quarter valued at about $34,000. GAMMA Investing LLC increased its holdings in shares of Ryan Specialty by 96.4% in the 2nd quarter. GAMMA Investing LLC now owns 605 shares of the company's stock valued at $35,000 after purchasing an additional 297 shares during the period. Crewe Advisors LLC purchased a new stake in shares of Ryan Specialty in the second quarter worth approximately $39,000. Finally, Quarry LP lifted its position in shares of Ryan Specialty by 109.3% in the third quarter. Quarry LP now owns 808 shares of the company's stock worth $54,000 after purchasing an additional 422 shares in the last quarter. 84.82% of the stock is currently owned by institutional investors and hedge funds.

Ryan Specialty Stock Performance

The firm's fifty day moving average is $69.06 and its 200 day moving average is $62.58. The firm has a market capitalization of $19.25 billion, a price-to-earnings ratio of 95.49, a PEG ratio of 1.63 and a beta of 0.62. 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 - Get Free Report) last announced its quarterly earnings data on Wednesday, October 30th. The company reported $0.41 earnings per share (EPS) for the quarter, hitting the consensus estimate 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 during the quarter, compared to analyst estimates of $602.04 million. During the same period last year, the company earned $0.32 earnings per share. Ryan Specialty's quarterly revenue was up 20.5% compared to the same quarter last year. On average, analysts predict that Ryan Specialty Holdings, Inc. will post 1.8 EPS for the current fiscal year.

Ryan Specialty Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, November 26th. Investors of record on Tuesday, November 12th will be paid a $0.11 dividend. The ex-dividend date is Tuesday, November 12th. This represents a $0.44 annualized dividend and a dividend yield of 0.60%. Ryan Specialty's payout ratio is 57.14%.

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.