Ryan Specialty (NYSE:RYAN) Posts Quarterly Earnings Results, Hits Expectations

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

Ryan Specialty Price Performance

RYAN traded down $1.18 during trading on Thursday, hitting $67.78. 1,310,368 shares of the stock traded hands, compared to its average volume of 874,350. The company has a debt-to-equity ratio of 1.81, a current ratio of 1.09 and a quick ratio of 1.09. Ryan Specialty has a twelve month low of $41.49 and a twelve month high of $73.10. The company has a market cap of $17.72 billion, a price-to-earnings ratio of 105.78, a PEG ratio of 1.55 and a beta of 0.62. The business has a 50 day moving average price of $66.97 and a 200 day moving average price of $60.25.

Insider Buying and Selling at Ryan Specialty

In other Ryan Specialty news, EVP Jeremiah Rawlins Bickham sold 26,233 shares of the company’s stock in a transaction dated Wednesday, August 14th. The stock was sold at an average price of $65.18, for a total value of $1,709,866.94. Following the completion of the transaction, the executive vice president now owns 24,845 shares of the company’s stock, valued at $1,619,397.10. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Ryan Specialty news, EVP Jeremiah Rawlins Bickham sold 26,233 shares of the company’s stock in a transaction dated Wednesday, August 14th. The stock was sold at an average price of $65.18, for a total value of $1,709,866.94. Following the sale, the executive vice president now owns 24,845 shares in the company, valued at approximately $1,619,397.10. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Nicholas Dominic Cortezi sold 5,375 shares of the firm’s stock in a transaction dated Wednesday, August 28th. The stock was sold at an average price of $64.73, for a total value of $347,923.75. Following the transaction, the director now owns 2,685 shares of the company’s stock, valued at $173,800.05. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 2,107,136 shares of company stock worth $131,860,032 over the last 90 days. Insiders own 11.10% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on RYAN. Bank of America boosted their target price on shares of Ryan Specialty from $75.00 to $84.00 and gave the stock a “buy” rating in a research note on Thursday, October 10th. The Goldman Sachs Group lifted their target price on shares of Ryan Specialty from $64.00 to $72.00 and gave the stock a “neutral” rating in a report on Wednesday, October 9th. Citigroup raised their target price on Ryan Specialty from $56.00 to $62.00 and gave the stock a “neutral” rating in a report on Tuesday, July 23rd. UBS Group increased 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. Finally, Barclays started coverage on Ryan Specialty in a report on Wednesday, September 4th. They set an “overweight” rating and a $76.00 target price on the stock. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price 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.