Ryan Specialty (NYSE:RYAN) Hits New 1-Year High – Time to Buy?

Ryan Specialty Holdings, Inc. (NYSE:RYAN) shares reached a new 52-week high during trading on Friday . The stock traded as high as $75.93 and last traded at $75.83, with a volume of 110370 shares changing hands. The stock had previously closed at $75.09.

Analyst Ratings Changes

A number of analysts have weighed in on RYAN shares. 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 research report on Thursday, October 10th. JPMorgan Chase & Co. lifted 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. Wells Fargo & Company upped their price objective on shares of Ryan Specialty from $63.00 to $70.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 10th. The Goldman Sachs Group raised their target price on shares of Ryan Specialty from $64.00 to $72.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 9th. Finally, Barclays boosted their price target on shares of Ryan Specialty from $76.00 to $88.00 and gave the stock an “overweight” rating in a research note on Thursday, November 21st. One research 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’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $71.67.

Ryan Specialty Stock Up 0.4 %

The company has a debt-to-equity ratio of 2.40, a current ratio of 1.01 and a quick ratio of 1.01. The company has a market capitalization of $19.74 billion, a price-to-earnings ratio of 97.52, a price-to-earnings-growth ratio of 1.70 and a beta of 0.62. The firm’s 50-day simple moving average is $69.74 and its two-hundred day simple moving average is $63.04.

Ryan Specialty (NYSE:RYAN) last released its quarterly earnings results on Wednesday, October 30th. The company reported $0.41 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.41. The business had revenue of $604.69 million for the quarter, compared to analysts’ expectations of $602.04 million. Ryan Specialty had a return on equity of 47.90% and a net margin of 10.31%. The company’s revenue was up 20.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.32 EPS. Sell-side analysts predict that Ryan Specialty Holdings, Inc. will post 1.8 EPS for the current fiscal year.

Ryan Specialty Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, November 26th. Stockholders of record on Tuesday, November 12th were given a $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a dividend 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%.

Insiders Place Their Bets

In other Ryan Specialty news, EVP Mark Stephen Katz sold 14,790 shares of the firm’s 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 sale, the executive vice president now directly owns 12,386 shares of the company’s stock, valued at $884,236.54. This trade represents a 54.42 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director David P. Bolger sold 7,055 shares of the company’s stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $70.88, for a total transaction of $500,058.40. Following the transaction, the director now directly owns 78,149 shares in the company, valued at $5,539,201.12. The trade was a 8.28 % decrease in their position. The disclosure for this sale can be found here. 11.10% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the business. Tidal Investments LLC grew its position in shares of Ryan Specialty by 30.4% in the third quarter. Tidal Investments LLC now owns 12,255 shares of the company’s stock valued at $814,000 after purchasing an additional 2,858 shares during the period. Wilmington Savings Fund Society FSB acquired a new stake in Ryan Specialty in the 3rd quarter worth about $193,000. Sanctuary Advisors LLC grew its holdings in Ryan Specialty by 11.9% in the 3rd quarter. Sanctuary Advisors LLC now owns 15,502 shares of the company’s stock valued at $1,140,000 after buying an additional 1,651 shares during the period. Virtu Financial LLC acquired a new position in shares of Ryan Specialty during the 3rd quarter valued at about $263,000. Finally, Teachers Retirement System of The State of Kentucky lifted its holdings in shares of Ryan Specialty by 51.5% during the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 30,760 shares of the company’s stock worth $2,042,000 after acquiring an additional 10,460 shares during the period. Hedge funds and other 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.